Copyright Board Canada
Canada



Section III: Supplementary Information

Financial Statements Highlights

Condensed Statement of Operations and Departmental Net Financial Position

Copyright Board of Canada
Condensed Statement of Operations and Departmental Net Financial Position (Unaudited)
For the Year Ended March 31, 2013
(in dollars)
  2012-13 Planned Results 2012-13 Actual 2011-2012 Actual $ Change (2012-13 Planned vs. Actual) $ Change (2012-13 Actual vs. 2011-12 Actual)
Total expenses 3,466,826 2,863,095 2,848,159 603,731 14,936
Net cost of operations before government funding and transfers 3,466,826 2,863,095 2,848,159 603,731 14,936
Departmental net (356,985) (375,075) (389,958) 18,090 14,883
 

For fiscal year 2012-13, the Board's total actual expenses are $2.9 million, essentially unchanged since 2011-12. The 2012-13 planned expenditures were at about $3.5 million, $600,000 above actual expenses for the same period. This is mainly the reflection of positions that are vacant at the Board. Processes are in place to staff some of these positions.

Condensed Statement of Financial Position

Copyright Board of Canada
Condensed Statement of Financial Position (Unaudited)
As at March 31, 2013
(in dollars)
  2012-13 2011-12 $ change
Total net liabilities 455,497 475,116 (19,619)
Total net financial assets 60,463 54,160 6,303
Departmental net debt 395,034 420,956 (25,922)
Total non-financial assets 19,959 30,998 (11,039)
Departmental net financial position (375,075) (389,958) 14,883
 

The Board's net financial position for fiscal year 2012-13 is at $-375,000, a slight decrease of about $15,000 since 2011-12. This is mainly a result of a decrease in the Board's total net liabilities.

Financial Highlights Graphs

Assets by Type

Total assetsTotal assets are valued at about $142,000 in fiscal year 2012-13. This is composed of tangible capital assets (14% or $20,000), due from CRF (43% or $60,000) and accounts receivable held on behalf of Government (43% or $62,000).

 

LiabilitiesTotal liabilities are valued at about $455,000 for fiscal year 2012-13. This is mostly made up of employee future benefits (47% or $212,000), vacation pay and compensatory leave (26% or $121,000) and accounts payable and accrued liabilities (27% or $122,000).

 

Fiscal yearFor fiscal year 2012-13, total expenses are $2.9 million. Most of these expenses are made up of salaries and employee benefits (65% or $1.9 million) and operating expenses (35% or $1 million). The majority of these latter expenses are required for the Board's unique program activity. The balance is made up of expenses associated with internal services.

 

Financial Statements

The Board's financial statements can be found on the Board's website Financial Statementsii.

Tax Expenditures and Evaluations Report

The tax system can be used to achieve public policy objectives through the application of special measures such as low tax rates, exemptions, deductions, deferrals and credits. The Department of Finance publishes cost estimates and projections for these measures annually in the Tax Expenditures and Evaluationsiii publication. The tax measures presented in the Tax Expenditures and Evaluations publication are the sole responsibility of the Minister of Finance.