Archived — 2014–15 Report on Plans and Priorities
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Section III: Supplementary Information
Future-Oriented Statement of Operations
The future-oriented condensed statement of operations presented in this subsection is intended to serve as a general overview of FedDev Ontario's operations. The forecasted financial information on expenses and revenues are prepared on an accrual accounting basis to strengthen accountability and to improve transparency and financial management.
Because the future-oriented statement of operations is prepared on an accrual accounting basis and the forecast and planned spending amounts presented in other sections of this report are prepared on an expenditure basis, amounts will differ.
A more detailed future-oriented statement of operations and associated notes, including a reconciliation of the net costs of operations to the requested authorities, can be found on FedDev Ontario's websiteFootnote vii.
|Financial information||Estimated Results
|Net cost of operations||206,083,676||153,516,672||(52,567,004)|
The change of $52.6 million in estimated results for fiscal year 2013–14 compared to planned results 2014–15 is partially composed of a decrease in Gs&Cs payments due to the conclusion of the CIIF program and the Southern Ontario Advantage Initiatives. Additionally, the decrease in expenditures in 2014–15 is partially attributed to a planned increase in the repayable loan portfolio of the Agency, which results in these expenditures impacting the Agency's financial position, and not directly impacting the statement of operations. These decreases are mitigated by anticipated expenditures in support of the Southern Ontario Prosperity Initiatives (SOPI) and Advanced Manufacturing Fund (AMF).
List of Supplementary Information Tables
The supplementary information tables listed in the 2014–15 Report on Plans and Priorities can be found on FedDev Ontario's websiteFootnote viii. This includes:
- Details on Transfer Payment ProgramsFootnote ix;
- Disclosure of Transfer Payment Programs under $5 millionFootnote x;
- Greening Government OperationsFootnote xi; and
- Upcoming Internal Audits and Evaluations over the next three fiscal yearsFootnote xii.
Tax Expenditures and Evaluations
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 EvaluationsFootnote xiii publication. The tax measures presented in the Tax Expenditures and Evaluations publication are the sole responsibility of the Minister of Finance.
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