Copyright Board Canada
Canada



Section III: Supplementary Information

Financial Statements Highlights

Copyright Board of Canada
Condensed Statement of Operations and Departmental Net Financial Position (Unaudited)
For the Year Ended March 31, 2014
(dollars)
  2013-14 Planned Results 2013-14 Actual 2012-13 Actual Difference (2013-14 actual minus 2013-14 planned) Difference (2013-14 actual minus 2012-13 Actual)
Total expenses 3,514,185 2,985,939 2,863,095 (528,246) 122,844
Total revenues - - - - -
Net cost of operations before government funding and transfers 3,514,185 2,985,939 2,863,095 (528,246) 122,844
Departmental net financial position (429,161) (213,682) (375,075) 215,479 161,393
 

For fiscal year 2013-14, the Board’s total actual expenses are $3.0 million, a slight increase since 2012-13. The 2013-14 planned expenditures were at about $3.5 million, some $500,000 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.

Copyright Board of Canada
Condensed Statement of Financial Position (Unaudited)
As at March 31, 2014
(dollars)
  2013-14 2012-13 Difference (2013-14 minus 2012-13)
Total net liabilities 318,136 455,497 (137,361)
Total net financial assets 94,474 60,463 34,011
Departmental net debt 223,662 395,034 (171,372)
Total non-financial assets 9,980 19,959 (9,979)
Departmental net financial position (213,682) (375,075) 161,393
 

The Board’s net financial position for fiscal year 2013-14 is at -$214,000, a decrease of about $160,000 since 2012-13. 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 $165,000 in fiscal year 2013-14. This comprises tangible capital assets (6% or $10,000), due from CRF (57% or $94,000) and accounts receivable held on behalf of Government (37% or $60,000).

 

Liabilities by Type

LiabilitiesTotal liabilities are valued at about $318,000 for fiscal year 2013-14. This is mostly made up of employee future benefits (24% or $75,000), vacation pay and compensatory leave (28% or $88,000) and accounts payable and accrued liabilities (49% or $155,000).

 

Expenses by Type

Fiscal yearFor fiscal year 2013-14, total expenses are $3.0 million. These expenses are made up of salaries and employee benefits (58% or $1.7 million) and operating expenses (42% or $1.2 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 at Financial Statementsiv.

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 Canada publishes cost estimates and projections for these measures annually in the Tax Expenditures and Evaluationsv publication. The tax measures presented in the Tax Expenditures and Evaluations publication are the sole responsibility of the Minister of Finance.