Archived — 2016–17 Report on Plans and Priorities

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Section III: Supplementary Information

Future-Oriented Condensed Statement of Operations

The Future-Oriented Condensed Statement of Operations provides a general overview of FedDev Ontario's operations. The forecast of financial information on expenses and revenues is prepared on an accrual accounting basis to strengthen accountability and to improve transparency and financial management.

Because the Future-Oriented Condensed Statement of Operations is prepared on an accrual accounting basis, and the forecast and planned spending amounts presented in other sections of the Report on Plans and Priorities are prepared on an expenditure basis, amounts may differ.

A more detailed Future-Oriented Statement of Operations and associated notes, including a reconciliation of the net cost of operations to the requested authorities, are available on FedDev Ontario's websiteEndnote ix.

Future-Oriented Condensed Statement of Operations
For the Year Ended March 31 (dollars)
Financial information 2015–16
Forecast Results
2016–17
Planned Results
Difference
(2016–17 Planned Results minus 2015–16 Forecast Results)
Total expenses 128,473,429 189,509,861 61,036,432
Total revenues 0 0 0
Net cost of operations before government funding and transfers 128,473,429 189,509,861 61,036,432

Total planned expenses for 2016–17 are $189.5 million, a $61.0 million increase from the 2015–16 estimated results. The projected increase is mainly attributable to an increase in the non-repayable transfer payments forecast for 2016–17.

Expenses do not include transfer payments that are unconditionally repayable contributions, which are estimated to be $51.8 million in 2016–17. These are classified as assets as they are receivable contributions.

Supplementary Information Tables

The supplementary information tables listed in the 2016–17 Report on Plans and Priorities are available on FedDev Ontario's websiteEndnote x.

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 Canada publishes cost estimates and projections for these measures each year in the Tax Expenditures and EvaluationsEndnote xi publication. The tax measures presented in that publication are the responsibility of the Minister of Finance.

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