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

Erratum

Date: March 6, 2015

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

Revision: "At the end of the second quarter of 2014–15, FedDev Ontario spent $24.1 million (or 11.6 percent of its available authorities) as compared to $51 million (or 22.7 percent of its available authorities) for the same period in 2013-14." replaces "At the end of the second quarter of 2014–15, FedDev Ontario spent $23.3 million (or 11.3 percent of its available authorities) as compared to $50.8 million (or 22.6 percent of its available authorities) for the same period in 2013-14."

Rationale: Original amounts reported were not correct


Location: Expenditures Analysis – Statement of Authorities – Used During the Quarter

Revision: "In the second quarter of the 2014–15 fiscal year, total budgetary expenditures were $17.6 million compared to $29.7 million reported in the same period of 2013–14. This represents a year-over-year decrease of $12.1 million (or 40.7 percent)." replaces "In the second quarter of the 2014–15 fiscal year, total budgetary expenditures were $17.9 million compared to $29.8 million reported in the same period of 2013–14. This represents a year-over-year decrease of $11.9 million (or 40 percent)."

Rationale: Original amounts reported were not correct


Location: Expenditures Analysis – Statement of Authorities – Used During the Quarter

Revision: "Quarterly spending includes $11.3 million on programs and $6.3 million on operating expenditures. Spending on operating costs has remained consistent compared to $6.5 million for the same period in 2013–14." replaces "Quarterly spending includes $11.3 million on programs and $6.6 million on operating expenditures. Spending on operating costs has remained consistent compared to $6.6 million for the same period in 2013–14."

Rationale: Original amounts reported were not correct


Location: Expenditures Analysis – Statement of Authorities – Year-to-Date Analysis

Revision: "On a year-to-date basis, as of the end of the second quarter of fiscal year 2014–15, total budgetary expenditures were $24.1 million compared to $51 million at the end of the same period for 2013–14. This represents a year-over-year decrease of $26.9 million (or 52.7 percent)." replaces "On a year-to-date basis, as of the end of the second quarter of fiscal year 2014–15, total budgetary expenditures were $23.3 million compared to $50.8 million at the end of the same period for 2013–14. This represents a year-over-year decrease of $27.5 million (or 54 percent)."

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 $0.4 million (or 6.9 percent) year-over-year." replaces "Personnel-related expenditures totaled $5.7 million, representing a decrease of $0.2 million (or 2.7 percent) year-over-year."

"Repair and maintenance costs have increased by $79,000 (or 465 percent)" replaces "Repair and maintenance costs have increased by $80,000 (or 500 percent)."

Rationale: Original amounts reported were not correct


Location: Statement of Departmental Budgetary Expenditures by Standard Object – Year-to-Date Analysis

Revision: "The $0.9 million (or 7.7 percent) decrease in salary costs can be attributed to previous year salary adjustments resulting from collective bargaining agreements." replaces "The $1.5 million (or 12.8 percent) decrease in salary costs can be attributed to the transition to pay in arrears and previous year salary adjustments resulting from collective bargaining agreements."

Rationale: Original amounts and description reported were not correct


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

Revision: "Vote 50 – Net Operating Expenditures – 5,573" replaces "Vote 50 – Net Operating Expenditures – 5,848". "Total Budgetary Authorities – 17,601" replaces "Total Budgetary Authorities – 17,876". "Total Authorities – 17,601" replaces "Total Authorities – 17,876"

Rationale: Original amounts reported were not correct


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

Revision: "Vote 50 – Net Operating Expenditures – 11,192" replaces "Vote 50 – Net Operating Expenditures – 10,463". "Total Budgetary Authorities – 24,073" replaces "Total Budgetary Authorities – 23,344". "Total Authorities – 24,073" replaces "Total Authorities – 23,344"

Rationale: Original amounts reported were not correct


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

Revision: "Vote 50 – Net Operating Expenditures – 5,672" replaces "Vote 50 – Net Operating Expenditures – 5,779". "Total Budgetary Authorities – 29,650" replaces "Total Budgetary Authorities – 29,757". "Total Authorities – 29,650" replaces "Total Authorities – 29,757"

Rationale: Original amounts reported were not correct


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

Revision: "Vote 50 – Net Operating Expenditures – 11,441" replaces "Vote 50 – Net Operating Expenditures – 11,253". "Total Budgetary Authorities – 50,998" replaces "Total Budgetary Authorities – 50,810". "Total Authorities – 50,998" replaces "Total Authorities – 50,810"

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 September 30, 2014

Revision: "Personnel – 5,434" replaces "Personnel – 5,709". "Total budgetary expenditures – 17,601" replaces "Total budgetary expenditures - 17,876"

Rationale: Original amounts reported were not correct


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

Revision: "Personnel – 10,835" replaces "Personnel – 10,106". "Total budgetary expenditures – 24,073" replaces "Total budgetary expenditures – 23,344"

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 September 30, 2013

Revision: "Personnel – 5,756" replaces "Personnel – 5,866". "Repair and Maintenance – 17" replaces "Repair and maintenance – 16". "Utilities, materials and supplies -18" replaces "Utilities, materials and supplies – 17". "Acquisition of land, buildings, and works – 2" replaces "Acquisition of land, buildings and works – 1". "Total budgetary expenditures – 29,650" replaces "Total budgetary expenditures - 29,757"

Rationale: Original amounts reported were not correct


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

Revision: "Personnel – 11,773" replaces "Personnel – 11,585". "Total budgetary expenditures – 50,998" replaces "Total budgetary expenditures – 50,810"

Rationale: Original amounts reported were not correct

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