Quarterly Financial Report — Quarter ended June 30, 2014 — Revised

Erratum

Date: September 19, 2014

Location: Table 1: Departmental Budgetary Expenditures by Standard Object (unaudited), Fiscal Year 2014-15, Planned expenditures for the year ending March 31, 2015, Other subsidies and payments and Total budgetary expenditures.

Revision: "Other subsidies and payments 34" replaces "Other subsidies and payments 24." "Total budgetary expenditures 206,764" replaces "Total budgetary expenditures 206,754."

Rationale: Original amount reported was not correct.

Date: March 6, 2015

Location: 2. Highlights of fiscal quarter and fiscal year to date (YTD) results

Revision: "At the end of the first quarter of 2014–15, FedDev Ontario spent $6.5 million (or 3.1 percent of its available authorities) as compared to $21.3 million (or 9.6 percent of its available authorities) in 2013–14." replaces "At the end of the first quarter of 2014–15, FedDev Ontario spent $5.5 million (or 2.6 percent of its available authorities) as compared to $21.1 million (or 9.4 percent of its available authorities) in 2013–14."

Rationale: Original amounts reported were not correct.


Location: Expenditures Analysis – Statement of Authorities

Revision: "In the first quarter of the 2014–15 fiscal year, total budgetary expenditures were $6.5 million compared to $21.3 million reported in the same period of 2013–14. This represents a year-over-year decrease of $14.8 million (or 69.5 percent)." Replaces "In the first quarter of the 2014–15 fiscal year, total budgetary expenditures were $5.5 million compared to $21.1 million reported in the same period of 2013–14. This represents a year-over-year decrease of $15.6 million (or 74 percent)."

Rationale: Original amounts reported were not correct.


Location: Expenditures Analysis – Statement of Authorities

Revision: "Quarterly spending comprises $0.1 million on programs and $6.4 million on operating expenditures. Spending in both these areas has decreased in 2014–15 by $14.7 million (or 93 percent) in transfers and $0.2 million (or 3.0 percent) in operating expenditures respectively over the first quarter of 2013–14." replaces "Quarterly spending comprises $0.1 million on programs and $5.4 million on operating expenditures. Spending in both these areas has decreased in 2014–15 by $14.7 million (or 93 percent) in transfers and $0.9 million (or 14 percent) in operating expenditures respectively over the first quarter of 2013–14."

Rationale: Original amounts reported were not correct.


Location: Statement of Departmental Budgetary Expenditures by Standard Object – Used During the Quarter

Revision: "Personnel-related expenditures totaled $5.4 million, representing a decrease of $0.6 million (or 10 percent) year-over-year. This decrease is mainly due to increased previous year expenditures related to salary adjustments resulting from collective bargaining agreements." replaces "Personnel-related expenditures totaled $4.4 million, representing a decrease of $1.3 million (or 23 percent) year-over-year. This decrease is mainly due to a change in timing of salary expenses related to the transition to the pay in arrears payroll practice, which occurred in this first quarter of the year, as well as increased previous year expenditures related to salary adjustments resulting from collective bargaining agreements.

Rationale: Original amounts and explanation reported were not correct.


Location: Statement of Authorities (unaudited) – Fiscal Year 2014-15 - Used during the quarter ended June 30, 2014

Revision: "Vote 50 – Net Operating Expenditures – 5,619" replaces "Vote 50 – Net Operating Expenditures – 4,615". "Total Budgetary Authorities - 6,472" replaces "Total Budgetary Authorities – 5,468". "Total Authorities – 6,472" replaces "Total Authorities – 5,468"

Rationale: Original amounts reported were not correct.


Location: Statement of Authorities (unaudited) – Fiscal Year 2014-15 - Year to date used at quarter end

Revision: "Vote 50 – Net Operating Expenditures – 5,619" replaces "Vote 50 – Net Operating Expenditures – 4,615". "Total Budgetary Authorities - 6,472" replaces "Total Budgetary Authorities – 5,468". "Total Authorities – 6,472" replaces "Total Authorities – 5,468"

Rationale: Original amounts reported were not correct.


Location: Statement of Authorities (unaudited) – Fiscal Year 2013-14 - Used during the quarter ended June 30, 2013

Revision: "Vote 50 – Net Operating Expenditures – 5,769" replaces "Vote 50 – Net Operating Expenditures – 5,471". "Total Budgetary Authorities – 21,348" replaces "Total Budgetary Authorities – 21,050". "Total Authorities – 21,348" replaces "Total Authorities – 21,050"

Rationale: Original amounts reported were not correct.


Location: Statement of Authorities (unaudited) – Fiscal Year 2013-14 - Year to date used at quarter end

Revision: "Vote 50 – Net Operating Expenditures – 5,769" replaces "Vote 50 – Net Operating Expenditures – 5,471". "Total Budgetary Authorities – 21,348" replaces "Total Budgetary Authorities – 21,050". "Total Authorities – 21,348" replaces "Total Authorities – 21,050"

Rationale: Original amounts reported were not correct.


Location: Table 1: Departmental Budgetary Expenditures by Standard Object (unaudited) – Fiscal Year 2014-15 – Used during the quarter ended June 30, 2014

Revision: "Personnel - 5,401" replaces "Personnel – 4,397". "Total budgetary expenditures – 6,472" replaces "5,468"

Rationale: Original amounts reported were not correct.


Location: Table 1: Departmental Budgetary Expenditures by Standard Object (unaudited) – Fiscal Year 2014-15 – Year to date used at quarter-end

Revision: "Personnel - 5,401" replaces "Personnel – 4,397". "Total budgetary expenditures – 6,472" replaces "5,468"

Rationale: Original amounts reported were not correct.


Location: Table 1: Departmental Budgetary Expenditures by Standard Object (unaudited) – Fiscal Year 2013–14 – Used during the quarter ended June 30, 2013

Revision: "Personnel – 6,017" replaces "Personnel – 5,719". "Total budgetary expenditures – 21,348 replaces "21,050"

Rationale: Original amounts reported were not correct


Location: Table 1: Departmental Budgetary Expenditures by Standard Object (unaudited) – Fiscal Year 2013–14 – Year to date used at quarter-end

Revision: "Personnel – 6,017" replaces "Personnel – 5,719". "Total budgetary expenditures – 21,348 replaces "21,050"

Rationale: Original amounts reported were not correct

Date modified: