Federal Economic Development Agency for Southern Ontario Financial Statements (Unaudited) — As at March 31, 2021

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Federal Economic Development Agency for Southern Ontario

Statement of Management Responsibility Including Internal Control over Financial Reporting

Responsibility for the integrity and objectivity of the accompanying financial statements for the year ended March 31, 2021, and all information contained in these statements rests with the management of the Federal Economic Development Agency for Southern Ontario (FedDev Ontario). These financial statements have been prepared by management using the Government's accounting policies, which are based on Canadian public sector accounting standards.

Management is responsible for the integrity and objectivity of the information in these financial statements. Some of the information in the financial statements is based on management's best estimates and judgement, and gives due consideration to materiality. To fulfill its accounting and reporting responsibilities, management maintains a set of accounts that provides a centralized record of FedDev Ontario's financial transactions. Financial information submitted in the preparation of the Public Accounts of Canada, and included in FedDev Ontario's Departmental Results Report, is consistent with these statements.

Management is also responsible for maintaining an effective system of internal control over financial reporting (ICFR). This provides reasonable assurance that financial information is reliable, that assets are safeguarded and that transactions are properly authorized and recorded in accordance with the Financial Administration Act and other applicable legislation, regulations, authorities and policies.

Management seeks to ensure the objectivity and integrity of data in its financial statements. This is accomplished through careful selection, training and development of qualified staff; through organizational arrangements that provide appropriate divisions of responsibility; through
communication programs aimed at ensuring that regulations, policies, standards and managerial authorities are understood throughout the Agency; and through conducting risk-based assessments to ensure the effectiveness of the system of ICFR.

The system of ICFR is designed to mitigate risks to a reasonable level based on an ongoing process to identify key risks, to assess effectiveness of associated key controls and to make any necessary adjustments.

FedDev Ontario is subject to periodic Core Control Audits performed by the Office of the Comptroller General and uses the results of such audits to comply with the Treasury Board Policy on Internal Control.

A Core Control Audit was performed in 2015–16 by the Office of the Comptroller General of Canada (OCG). The Audit Report and related Management Action Plan are posted on the departmental web site at Core Control Audit of the Federal Economic Development Agency for Southern Ontario.

The financial statements of FedDev Ontario have not been audited.


Nancy Gardiner
President
Signed at Ottawa, Canada (September 8, 2021)

Lisa St-Amour, MBA, CPA, CMA
Chief Financial Officer


Federal Economic Development Agency for Southern Ontario
Statement of Financial Position (Unaudited)
As at March 31, 2021 (in thousands of dollars)
- 2021 2020
Liabilities
Accounts payable and accrued liabilities (Note 4) 23,638 28,638
Vacation pay and compensatory leave 2,045 1,413
Employee future benefits (Note 5) 826 916
Total liabilities 26,509 30,967
Financial assets
Due from Consolidated Revenue Fund 23,503 28,262
Accounts receivable and advances (Note 6) 5,838 4,748
Loans (Repayable contributions) (Note 7) 519,798 297,136
Total financial assets 549,139 330,146
Financial assets held on behalf of Government
Accounts receivable and advances (Note 6) (5,687) (4,603)
Loans (Repayable contributions) (Note 7) (519,798) (297,136)
Total financial assets held on behalf of Government (525,485) (301,739)
Total net financial assets 23,654 28,407
Departmental net debt 2,855 2,560
Non-financial assets
Prepaid expenses 58 60
Tangible capital assets (Note 10) 0 5
Total non-financial assets 58 65
Departmental net financial position (2,797) (2,495)

Contractual obligations (Note 8)
Contingent liabilities (Note 9)

The accompanying notes form an integral part of these financial statements.

Federal Economic Development Agency for Southern Ontario
Statement of Operations and Departmental Net Financial Position (Unaudited)
For the year ended March 31, 2021 (in thousands of dollars)
- 2021 Planned Results 2021 2020
Expenses
Economic Development in Southern Ontario 167,941 433,957 228,588
Internal Services 15,850 14,450 13,606
Expenses incurred on behalf of Government 283 (100,632) (57,971)
Total expenses 184,074 347,775 184,223
Revenues
Gains on disposal of assets 0 21 13
Other revenue 0 172 171
Revenues earned on behalf of Government 0 (172) (171)
Total revenues 0 21 13
Net cost of operations before funding and transfers 184,074 347,754 184,210
Government funding and transfers
Net cash provided by Government - 348,242 181,865
Change in Due from Consolidated Revenue Fund - (4,759) (2,046)
Services provided without charge by other government departments (Note 11) - 4,059 3,716
Transfer of assets from (to) other government departments (Note 12) - (90) 37
Net cost of operations after government funding and transfers - 302 637
Departmental net financial Position – Beginning of year - (2,495) (1,858)
Departmental net financial position – End of year - (2,797) (2,495)

Segmented information (Note 13)

The accompanying notes form an integral part of these financial statements.

Federal Economic Development Agency for Southern Ontario
Statement of Change in Departmental Net Debt (Unaudited)
For the year ended March 31, 2021 (in thousands of dollars)
- 2021 2020
Net cost of operations after government funding 302 637
Change due to tangible capital assets
Amortization of tangible capital assets (Note 10) (5) (3)
Net gain on disposal of tangible capital assets including adjustments 21 13
Proceeds from disposal of tangible capital assets (21) (13)
Total change due to tangible capital assets (5) (3)
Change due to prepaid expenses (2) 35
Departmental increase (decrease) in net debt 295 669
Departmental net debt – Beginning of year 2,560 1,891
Departmental net debt – End of year 2,855 2,560

The accompanying notes form an integral part of these financial statements.

Federal Economic Development Agency for Southern Ontario
Statement of Cash Flows (Unaudited)
For the year ended March 31, 2021 (in thousands of dollars)
- 2021 2020
Operating activities
Net cost of operations before government funding and transfers 347,754 184,210
Non cash items:
Amortization of tangible capital assets (Note 10) (5) (3)
Gain (loss) on disposal of capital assets 21 13
Services provided without charge by other government departments (Note 11) (4,059) (3,716)
Variations in Statement of Financial Position
Increase (decrease) in accounts receivable and advances 6 3
Increase (decrease) in prepaid expenses (2) 35
Decrease (increase) in accounts payable and accrued liabilities 5,000 1,717
Decrease (increase) in vacation pay and compensatory leave (632) (228)
Decrease (increase) in future employee benefits 90 (115)
Transfer of assets to (from) other government departments (Note 12) 90 (37)
Cash used in operating activities 348,263 181,878
Capital investing activities
Proceeds from sale of tangible capital assets (21) (13)
Cash used in capital investing activities (21) (13)
Net cash provided by the Government of Canada 348,242 181,865

The accompanying notes form an integral part of these financial statements.

Federal Economic Development Agency for Southern Ontario Notes to the Financial Statements
As at March 31, 2021

1.  Authority and objectives

The Federal Economic Development Agency for Southern Ontario (FedDev Ontario) operates under the authority that was established in 2009 as a separate organization under Schedule I.1 of the Financial Administration Act to support economic growth in southern Ontario through the delivery of federal programs and services. The Agency is part of the Innovation, Science and Economic Development (ISED) portfolio.

FedDev Ontario's core mandate is to strengthen southern Ontario's capacity for innovation, economic development and growth. Through Budget 2019, FedDev Ontario was provided with permanent funding, enabling it to become a reliable, long-term and trusted partner to the region's dynamic businesses and communities, and to support delivery of the Government's economic agenda.

FedDev Ontario's programs and services are designed to be responsive to business needs and foster an environment for the development of strong, dynamic and inclusive regional innovation ecosystems. The Agency helps build stronger, more resilient communities by investing in small- and medium-sized enterprises' growth and the creation of highly skilled jobs.

Along with other regional development agencies (RDAs) across the country, FedDev Ontario plays a role in the delivery of national programming, including the Economic Development Initiative to support Francophone and bilingual organizations in Official Language Minority Communities, and the Community Futures Program to help rural communities develop and sustain their local economies. The Agency also delivers targeted and temporary national initiatives that respond to government priorities and the broader economic environment. In 2020-21 this including the Women Entrepreneurship Strategy, Canadian Experiences Fund, and the Regional Relief and Recovery Fund that are responding to government priorities and needs within a broader economic context as well.

With its headquarters in Waterloo and offices in Toronto, Peterborough and Ottawa, FedDev Ontario has a presence across southern Ontario and facilitates collaboration with a broad range of stakeholders, including post-secondary institutions, not-for-profit organizations, municipal and provincial governments, Indigenous communities and private sector firms. FedDev Ontario works closely with the Government of Ontario and key federal departments and agencies to support the southern Ontario economy.Through ongoing partnerships with other federal departments and agencies, FedDev Ontario ensures that the perspectives of southern Ontario are reflected in decision-making at the federal level.

2. Summary of significant accounting policies

These financial statements have been prepared using the Government's accounting policies stated below, which are based on Canadian public sector accounting standards. The presentation and results using the stated accounting policies do not result in any significant differences from the Canadians public sector account standards.

Significant accounting policies are as follows:

  1. Parliamentary authorities — FedDev Ontario is financed by the Government of Canada through Parliamentary authorities. Financial reporting of authorities provided to FedDev Ontario do not parallel financial reporting according to generally accepted accounting principles since authorities are primarily based on cash flow requirements. Consequently, items recognized in the Statement of Operations and Departmental Net Financial Position and in the Statement of Financial Position are not necessarily the same as those provided through authorities from Parliament. Note 3 provides a reconciliation between the bases of reporting. The planned results amounts in the "Expenses" and "Revenues" sections of the Statement of Operations and Departmental Net Financial Position are the amounts reported in the Future-oriented Statement of Operations included in the 2021–22 Departmental Plan.
  2. Net Cash Provided by Government — FedDev Ontario operates within the Consolidated Revenue Fund (CRF), which is administered by the Receiver General for Canada. All cash received by FedDev Ontario is deposited to the CRF, and all cash disbursements made by FedDev Ontario are paid from the CRF. The net cash provided by Government is the difference between all cash receipts and all cash disbursements, including transactions between departments of the Government.
  3. Amounts due from or to the CRF are the result of timing differences at year-end between when a transaction affects authorities and when it is processed through the CRF. Amounts due from the CRF represent the net amount of cash that FedDev Ontario is entitled to draw from the CRF without further appropriations to discharge its liabilities.
  4. Revenues — Revenues that are non-respendable are not available to discharge FedDev Ontario's liabilities. While the Deputy Head is expected to maintain accounting control, they have no authority regarding the disposition of non-respendable revenues. As a result, non-respendable revenues are considered to be earned on behalf of the Government of Canada and are therefore presented in reduction of the entity's gross revenues.

    Other revenues are accounted for in the period in which the underlying transaction or event that gave rise to the revenue takes place.

    Effective 2017–18, in accordance with Government of Canada accounting policies, FedDev Ontario records unconditionally repayable loans at face value since loans have been determined to not have significant concessionary terms. As a result, FedDev Ontario no longer records revenues on the unconditionally repayable loan.

  5. Expenses — Expenses are recorded on the accrual basis:

    Transfer payments are recorded as expenses when authorization for the payment exists and the recipient has met the eligibility criteria or the entitlements established for the transfer payment program. In situations where payments do not form part of an existing program, transfer payments are recorded as expenses when the Government announces a decision to make a non-recurring transfer, provided the enabling legislation or authorization for payment receives parliamentary approval prior to the completion of the financial statements. Transfer payments that become repayable as a result of conditions specified in the contribution agreement that have come into being are recorded as a reduction to transfer payment expense and as a receivable.

    Vacation pay and compensatory leave are accrued as the benefits are earned by employees under their respective terms of employment.

    Services provided without charge by other government departments for accommodation, and employer contributions to the health and dental insurance plans are recorded as operating expenses at their estimated cost.

  6. Employee future benefits:
    1. Pension benefits: Eligible employees participate in the Public Service Pension Plan (Public Service Superannuation Act), a multi-employer plan administered by the Government. FedDev Ontario's contributions to the Plan are charged to expenses in the year incurred and represent the total departmental obligation to the Plan. FedDev Ontario's responsibility with regard to the Plan is limited to its contributions. Actuarial surpluses or deficiencies are recognized in the financial statements of the Government of Canada, as the Plan's sponsor.
    2. Severance benefits: Employees entitled to severance benefits under labour contracts or conditions of employment earn these benefits as services necessary to earn them are rendered. The obligation relating to the benefits earned by employees is calculated using information derived from the results of the actuarially determined liability for employee severance benefits for the Government as a whole.
  7. Accounts and loans receivable (repayable contributions) are initially recorded at cost and where necessary, are discounted to reflect their concessionary terms. Concessionary terms include cases where repayable contributions are made on a long-term, low interest or interest-free basis. Transfer payments that are unconditionally repayable are recognized as loans receivable (repayable contributions). When necessary, an allowance for valuation is recorded to reduce the carrying value of accounts and loans receivable (repayable contributions) to amounts that approximate their net recoverable value.
  8. Contingent liabilities – Contingent liabilities are potential liabilities that may become actual liabilities when one or more future events occur or fail to occur. To the extent that the future event is likely to occur or fail to occur, and a reasonable estimate of the loss can be made, an estimated liability is accrued and an expense recorded. If the likelihood is not determinable or if an amount cannot be reasonably estimated, the contingency is disclosed in the notes to the financial statements.
  9. Tangible capital assets — All tangible capital assets having an initial cost of $10,000 or more are recorded at their acquisition cost. FedDev Ontario does not capitalize intangibles, works of art, and historical treasures that have cultural, aesthetic, or historical value, assets located on Indian Reserves and museum collections.

    Amortization of tangible capital assets is done on a straight-line basis over the estimated useful life of the asset as follows:

    Asset class Amortization period

    Computer hardware

    10 years

    Machinery and equipment

    10 years

    Vehicles

    3 to 7 years

  10. Measurement uncertainty — The preparation of these financial statements requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses reported in the financial statements. At the time of preparation of these statements, management believes the estimates and assumptions to be reasonable. The most significant items where estimates are used are the allowances for doubtful accounts, the liability for employee future benefits and the useful life of tangible capital assets. Actual results could significantly differ from those estimated. Management's estimates are reviewed periodically and, as adjustments become necessary, they are recorded in the financial statements in the year they become known.

3. Parliamentary authorities

FedDev Ontario receives most of its funding through annual parliamentary authorities. Items recognized in the Statement of Operations and Departmental Net Financial Position and the Statement of Financial Position in one year may be funded through parliamentary authorities in prior, current, or future years. Accordingly, FedDev Ontario has different net results of operations for the year on a government funding basis than on an accrual accounting basis. The differences are reconciled in the following tables:

a) Reconciliation of net cost of operations to current year authorities used (in thousands of dollars)
- 2021 2020
Net cost of operations before government funding and transfers

347,754

184,210

Adjustments for items affecting net cost of operations but not affecting authorities:
Amortization of tangible capital assets

(5)

(3)
Gain (loss) on disposal of tangible capital assets

22

13
Services provided without charge by other government departments

(4,059)

(3,716)
Decrease (increase) in vacation pay and compensatory leave

(632)

(228)
Decrease (increase) in employee future benefits

90

(115)
Refunds of prior years' expenditures

43

19
Refunds of previous years' accounts payable

346

566

Other

(1,856)

0
Total items affecting net cost of operations but not affecting authorities (6,051) (3,464)
Adjustments for items not affecting net cost of operations but affecting authorities:
Increase (decrease) in prepaid expenses

(2)

35
Loans issued on behalf of Government

350,878

84,495
Increase in other receivables

167

228
Total items not affecting net cost of operations but affecting authorities

351,043

85,758
Current year authorities used 692,746 267,504
b) Authorities provided and used (in thousands of dollars)
- 2021 2020
Authorities provided:
Vote 1 - Operating Expenditures 37,401 31,312
Vote 5 - Contributions 417,474 233,000
Vote 10 - Launching a Federal Strategy on Jobs & Tourism 0 54
Statutory amounts 241,654 3,464
Less:
Authorities available for future years (13) (14)
Lapsed: Operating (3,749) (238)
Lapsed:  Launching a Federal Strategy on Jobs & Tourism 0 (54)
Lapsed: Proceeds from the disposal of crown assets (21) (20)
Current year authorities used 692,746 267,504

4. Accounts payable and accrued liabilities

The following table presents details of FedDev Ontario's accounts payable and accrued liabilities:

FedDev Ontario's accounts payable and accrued liabilities (in thousands of dollars)
- 2021 2020
Accounts payable – Other government departments and agencies 916 542
Accounts payable – External parties 21,263 25,936
Other External Payables 6 28
Total accounts payable 22,185 26,506
Accrued liabilities 1,453 2,132
Total accounts payable and accrued liabilities 23,638 28,638

5. Employee future benefits

a) Pension benefits

FedDev Ontario's employees participate in the Public Service Pension Plan (the "Plan"), which is sponsored and administered by the Government of Canada. Pension benefits accrue up to a maximum period of 35 years at a rate of 2 percent per year of pensionable service, times the average of the best five consecutive years of earnings. The benefits are integrated with Canada/Québec Pension Plans benefits and they are indexed to inflation.

Both the employees and FedDev Ontario contribute to the cost of the Plan. Due to the amendment of the Public Service Superannuation Act following the implementation of provisions related to Canada's Economic Action Plan 2012, employee contributors have been divided into two groups – Group 1 relates to existing plan members as of December 31, 2012 and Group 2 relates to members joining the Plan as of January 1, 2013. Each group has a distinct contribution rate.

The 2020-2021 expense amounts to $3,740,145 ($3,116,928 in 2019-2020). For Group 1 members, the expense represents approximately 1.01 times (1.01 times in 2019-20) the employee contributions and, for Group 2 members, approximately 1.00 times (1.00 times in 2019-20) the employee contributions.

FedDev Ontario's responsibility with regard to the Plan is limited to its contributions. Actuarial surpluses or deficiencies are recognized in the financial statements of the Government of Canada, as the Plan's sponsor.

b) Severance benefits

Severance benefits provided to FedDev Ontario's employees were previously based on an employee's eligibility, years of service and salary at termination of employment. However, since 2011 the accumulation of severance benefits for voluntary departures progressively ceased for substantially all employees. Employees subject to these changes were given the option to be paid the full or partial value of benefits earned to date or collect the full or remaining value of benefits upon departure from the public service. By March 31, 2021, substantially all settlements for immediate cash out were completed. Severance benefits are unfunded and, consequently, the outstanding obligation will be paid from future authorities.

The changes in the obligations during the year were as follows:

Changes in the obligations (in thousands of dollars)
- 2021 2020
Accrued benefit obligation - Beginning of year 916 801
Expense for the year 22 161
Benefits paid during the year (112) (47)
Accrued benefit obligation - End of year 826 916

6. Accounts receivable and advances

The following table presents details of FedDev Ontario's accounts receivable and advances balances:

FedDev Ontario's accounts receivable and advances balances (in thousands of dollars)
- 2021 2020
Receivables – Other government departments and agencies 129 348
Receivables – External parties 5,558 4,255
Employee advances 151 145
Gross accounts receivable and advances 5,838 4,748
Accounts receivable held on behalf of government (5,687) (4,603)
Net accounts receivable and advances 151 145

7. Loans receivable (repayable contributions)

The following table presents details of FedDev Ontario's unconditional repayable contribution balances:

FedDev Ontario's unconditional repayable contribution balances (in thousands of dollars)
- 2021 2020
Loans receivable (repayable contributions)
Unconditionally repayable contributions 715,763 398,139
Less: Allowance for uncollectability (195,965) (101,003)
Gross loans receivable (repayable contributions) 519,798 297,136
Loans receivable (repayable contributions) held on behalf of Government (519,798) (297,136)
Net loans receivable 0 0

Unconditionally repayable contributions

Unconditionally repayable contributions relate to contributions made to outside parties that must be repaid without qualification. The repayable contributions portfolio consists of 1,421 non-interest bearing loans issued from 2009 to 2021 with prescribed annual repayment terms. The loans are recorded at face value since loans have been determined to not have significant concessionary terms. An allowance of $195,964,506 ($101,003,156 in 2019-20) has been recorded.

A subset of these repayable contributions issued under the Regional Relief and Recovery Fund include a component for partial forgiveness if specific conditions are met. An allowance of $1,850,882 has been established to account for the forgivable portion of these contributions, which is included in the $195,964,506 allowance for uncollectability.

Loans receivable (repayable contributions) are considered a financial asset held on behalf of the Government and are not available to discharge the department's liabilities; as such, the loans receivable (repayable contributions) are presented as a reduction to the entity's gross loans receivable amount of contributions that are repayable.

8. Contractual obligations (transfer payments)

The nature of FedDev Ontario's activities can result in some large multi-year contracts and obligations whereby FedDev Ontario will be obligated to make future payments in order to carry out its transfer payment programs or when the services/goods are received. Significant contractual obligations that can be reasonably estimated are summarized as follows:

Contractual obligations (in thousands of dollars)
- 2022 2023 2024 2025 2026 Total
Transfer payments 180,023 119,058 44,767 2,505 0 346,353
Total 180,023 119,058 44,767 2,505 0 346,353

The contractual obligations for transfer payments for 2022 and beyond are related to projects under the Southern Ontario Prosperity Program, Community Futures Program, and the Regional Economic Growth through Innovation Program.

9. Contingent liabilities

In the normal course of its operations, FedDev Ontario becomes involved in various legal actions. Some of these potential liabilities may become actual liabilities when one or more future events occur or fail to occur. To the extent that the future event is likely to occur or fail to occur, and a reasonable estimate of the loss can be made, an estimated liability has been identified. As at March 31, 2021, FedDev Ontario has no contingent liabilities based on the legal assessment carried out by Department of Justice of potential liability.

10. Tangible capital assets (in thousands of dollars)

- Cost Accumulated Amortization Net Book Value
Capital Asset Class Opening Balance Acquisitions, Transfers and Adjustments Disposals and Write-Offs Closing Balance Opening BalanceFootnote * AmortizationFootnote * Transfers and Adjustments Disposals and Write-Offs Closing Balance 2021 2020

Computer hardware

10

0

10 0 8

2

0

10

0

0

2

Machinery and

equipment

25

0

25 0 22

3

0

25

0

0

3

Vehicles

155

0

72 83 155

0

0

72

83

0

114

Total

190

0

107 83 185

5

0

107

83

0

119

11. Related party transactions

FedDev Ontario is related as a result of common ownership to all government departments, agencies, and Crown corporations. FedDev Ontario enters into transactions with these entities in the normal course of business and on normal trade terms. In addition, FedDev Ontario has an agreement with the Department of Innovation, Science and Economic Development related to the provision of information technology, finance and administration services. During the year, FedDev Ontario received common services that were obtained without charge from other government departments as disclosed below.

(a) Common services provided without charge by other government departments

In 2020-21, FedDev Ontario received services without charge from certain common service organizations, related to accommodation services and the employer's contribution to the health and dental insurance plans. These services provided without charge have been recorded in FedDev Ontario's Statement of Operations and Departmental Net Financial Position as follows:

FedDev Ontario's Statement of Operations and Departmental Net Financial Position (in thousands of dollars)
- 2021 2020
Employer's contributions to the health and dental insurance plan 2,468 2,133
Accommodation 1,591 1,583
Total 4,059 3,716

The Government has centralized some of its administrative activities for efficiency, cost-effectiveness purposes and economic delivery of programs to the public. As a result, the Government uses central agencies and common service organizations so that one department performs services for all other departments and agencies without charge. The costs of these services, such as payroll and cheque issuance services provided by Public Services and Procurement Canada and audit services provided by the Office of the Auditor General are not included in FedDev Ontario's Statement of Operations and Departmental Net Financial Position.

(b) Other transactions with related parties (in thousands of dollars)

- 2021 2020
Expenses – Other government departments and agencies 8,133 7,332

Expenses and revenues disclosed in (b) exclude common services provided without charge, which are already disclosed in (a).

12. Transfer from/to other government departments (in thousands of dollars)

Assets Current Year

Accounts Receivable and Employee Advances

90

Adjustment to the departmental net financial position

90

13. Segmented information (in thousands of dollars)

Presentation by segment is based on FedDev Ontario's Departmental Results Framework. The presentation by segment is based on the same accounting policies as described in the summary of significant accounting policies in note 2. The following table presents the expenses incurred and revenues generated for the core responsibility, by major object of expense and by major type of revenue. The segment results for the period are as follows:

Expenses Economic Development in Southern Ontario Internal Services 2021 Total 2020 Total
Transfer payments
Transfers to non-profit organizations 295,052 0 295,052 97,646
Transfers to Industry 3,954 0 3,954 46,660
Transfer to other levels of government 6,675 0 6,675 1,733
Total transfer payments 305,681 0 305,681 146,039
Operating expenses
Salaries and employee benefits 24,620 10,231 34,851 30,296
Professional and special services 1,539 2,927 4,466 4,102
Accommodation 1,135 457 1,592 1,584
Travel (14) (8) (22) 806
Amortization 0 5 5 3
Communication (and postage) 219 281 500 488
Furniture and equipment 52 320 372 421
Equipment repair and maintenance 0 17 17 33
Rental 78 195 273 348
Utilities, materials and supplies 15 29 44 105
Bad debt expense 100,632 0 100,632 57,971
Other operating expenses 0 (4) (4) (2)
Expenses incurred on behalf of Government (100,632) 0 (100,632) (57,971)
Total operating expenses 27,644 14,450 42,094 38,184
Total expenses 333,325 14,450 347,775 184,223
Revenues
Amortization of discounts 0 0 0 0
Other revenue 0 193 193 184
Revenues earned on behalf of Government 0 (172) (172) (171)
Total revenues 0 21 21 13
Net cost from continuing operations 333,325 14,429 347,754 184,210