Year-End Financial Statements
Fiscal Year 2019-2020

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, 2020 and all information contained in these financial statements rests with the management of the Impact Assessment Agency of Canada (the Agency). These financial statements have been prepared by management using the Government of Canada's accounting policies, which are based on Canadian public sector accounting standards.

Management is also 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 judgment, 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 the Agency’s financial transactions. Financial information submitted in the preparation of the Public Accounts of Canada, and included in the Agency's Departmental Results Report, is consistent with these financial statements.

Management is also responsible for maintaining an effective system of internal control over financial reporting (ICFR) designed to provide 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 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 an annual risk-based assessment of 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.

A risk-based assessment of the system of ICFR for the year ended March 31, 2020 was completed in accordance with the Treasury Board Policy on Financial Management and the results and action plans are summarized in the annex.

The financial statements of the Agency have not been audited.

 

Impact Assessment Agency of Canada
Statement of Financial Position (Unaudited)
As at March 31, 2020
(in dollars)

	2020	2019
Liabilities
Accounts payable and accrued liabilities (Note 4)	9,357,103	7,112,280
Vacation pay and compensatory leave	2,657,842	1,381,459
Employee future benefits (Note 6)	1,481,320	1,141,619
Total liabilities	13,496,265	9,635,358
Financial assets
Due from the Consolidated Revenue Fund	8,156,517	6,411,261
Accounts receivable and advances (Note 5)	3,378,302	3,364,012
Total gross financial assets	11,534,819	9,775,273
Financial assets held on behalf of Government Accounts receivable and advances (Note 5)	(776,402)	(613,754)
Total financial assets held on behalf of Government	(776,402)	(613,754)
Total net financial assets	10,758,417	9,161,519
Agency net debt	(2,737,849)	(473,839)
Non-financial assetsTangible capital assets (Note 7)	503,320	568,911
Total non-financial assets	503,320	568,911
Agency net financial position	(2,234,529)	95,072
Contractual obligations (Note 8) Contingent liabilities (Note 9) The accompanying notes form an integral part of these financial statements.

 

Impact Assessment Agency of Canada Statement of Operations and Departmental Net Financial Position (Unaudited) For the Year Ended March 31, 2020 (in dollars)

Expenses	2020	2020	2019
	Planned Results
Environmental Assessment Delivery	46,054,894	40,733,935	34,305,224
Environmental Assessment Policy	22,779,774	21,957,156	8,221,336
Internal Services	11,483,221	11,589,690	11,608,268
Total expenses	80,317,889	74,280,781	54,134,828
Revenues
Environmental assessment and training services	2,000,000	2,268,489	1,935,822
Miscellaneous revenues	0	105,921	187,529
Total revenues	2,000,000	2,374,409	2,123,351
Net cost of operations before government funding and transfers	78,317,889	71,906,372	52,011,477
Government funding and transfers
Net cash provided by Government of Canada	74,628,419	61,382,155	43,915,659
Change in due from the Consolidated Revenue Fund	-	1,745,256	2,420,304
Services provided without charge by other government departments (Note 10)	5,150,138	6,449,360	5,426,081
Net cost of operations after government funding and transfers	(1,460,668)	2,329,601	249,434
Agency net financial position - Beginning of year	19,117,375	95,072	344,506
Agency net financial position - End of year	20,578,043	(2,234,529)	95,072
Segmented information (Note 11) The accompanying notes form an integral part of these financial statements.

 

Impact Assessment Agency of Canada Statement of Change in Departmental Net Debt (Unaudited) For the year ended March 31, 2020 (in dollars)

	2020	2020	2019
	Planned Results
Net cost of operations after government funding and transfers	(1,460,668)	2,329,601	249,434
Change due to tangible capital assets
Acquisition of tangible capital assets (Note 7)	0	0	596,242
Amortization of tangible capital assets (Note 7)	0	(65,591)	(27,331)
Total change due to tangible capital assets	0	(65,591)	568,911
Net increase (decrease) in agency net debt	(1,460,668)	2,264,010	818,345
Agency net debt - Beginning of year		473,839	(344,506)
Agency net debt - End of year	(1,460,668)	2,737,849	473,839
The accompanying notes form an integral part of these financial statements.

 

Impact Assessment Agency of Canada Statement of Cash Flows (Unaudited)
For the Year Ended March 31, 2019 (in dollars)

	2020	2019
Operating activities
Net cost of operations before government funding and transfers	71,906,372	52,011,477
Non-cash items:
Amortization of tangible capital assets	(65,591)	(27,331)
Services provided without charge by other government departments (Note 10)	(6,449,360)	(5,426,082)
Other transfers of assets and liabilities (to)/ from other government departments	0	0
Variations in Statement of Financial Position:
Increase (decrease) in accounts receivable and advances	(148,359)	54,518
Decrease (increase) in accounts payable and accrued liabilities	(2,244,822)	(3,039,128)
Decrease (increase) in vacation pay and compensatory leave	(1,276,384)	(392,887)
Decrease (increase) in employee future benefits	(339,701)	138,849
Cash used by Operating Activities	61,382,155	43,319,417
Capital investing activities
Acquisition of tangible capital assets	0	596,242
Net cash provided by Government of Canada	61,382,155	43,915,659
The accompanying notes form an integral part of these financial statements.

Impact Assessment Agency of Canada
Notes to the Financial Statements (Unaudited)
For the Year Ended March 31, 2020

1. Authorities and objectives

The Impact Assessment Agency of Canada (the Agency) is a federal body reporting to the Minister of Environment and Climate Change. The Impact Assessment Act (IAA) came into force on August 28, 2019, expanding the Agency’s mandate and responsibilities as the single federal organization responsible for impact assessment and the Crown coordinator for Indigenous consultation on designated projects.

The Agency provides high-quality assessments of environmental, economic, social, health and gender effects to support government decision-making in the public interest. Assessments are evidence-based and ensure that positive and negative effects and impacts on Indigenous groups and their rights are considered in order to foster sustainability.

The Agency delivers four funding programs with the objective of supporting better informed decision making through the active participation of the public and Indigenous groups; effective engagement of the public and Indigenous peoples in the development of guidance, regulations and legislation; stronger evidence-based policy and guidance for impact assessments through an enhanced and more diverse knowledge base; and increased capacity of Indigenous communities to engage in and lead consultations.

In addition, the Agency's President is the federal administrator responsible for reviewing projects of a federal nature under the environmental and social protection regimes set out in sections 22 and 23 of the 1975 James Bay and Northern Quebec Agreement.

The Agency's activities are carried out under two different programs: Impact Assessment and Internal Services.

The Agency is responsible for delivering high quality environmental and impact assessments based on science, Indigenous knowledge, and other evidence. This includes conducting assessments and supporting assessments led by review panels, ensuring they are informed by the best available evidence, and promote positive effects while minimizing adverse impacts through mitigation measures. Evidence includes economic, environmental, social, health, Indigenous knowledge, gender-based analysis plus (GBA+), and/or cumulative effects, as appropriate.

To support the delivery of these assessments and provide certainty and clarity to proponents, other jurisdictions, Indigenous peoples and the public, the Agency develops and promotes legislative and policy frameworks, tools, guidance, and best practices.

Internal Services comprises related activities and resources to support the needs of programs and other corporate obligations of the Agency. These include: Management and Oversight Services, Communications Services, Legal Services, Human Resources Management Services, Financial Management Services, Information Management Services, Information Technology Services, the Access to Information and Privacy Office, Real Property Services, Materiel Management Services, Acquisition Services, and Travel and Other Administrative Services. Internal Services includes activities and resources that apply across an organization, not those provided specifically to a program.

2. Summary of significant accounting policies

These financial statements are prepared using the Agency'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 Canadian public sector accounting standards.

Significant accounting policies are as follows:

• Parliamentary authorities

  The Agency is financed by the Government of Canada through Parliamentary authorities. Financial reporting of authorities provided to the Agency does 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 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 2017-2018 Departmental Plan. The planned results amounts in the “Government funding and transfers” section of the Statement of Operations and Departmental Net Financial Position and in the Statement of Change in Departmental Net Debt were prepared for internal management purposes and have not been previously published.

• Net cash provided by Government

  The Agency operates within the Consolidated Revenue Fund (CRF), which is administered by the Receiver General for Canada. All cash received by the Agency is deposited to the CRF, and all cash disbursements made by the Agency 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 .

• Amounts due from or to the CRF

  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 the Agency is entitled to draw from the CRF without further authorities to discharge its liabilities.

• Revenues

  Revenues from regulatory fees are recognized based on the services provided in the year. Funds received from external parties for specified purposes are recorded upon receipt as deferred revenue. Revenues are then recognized in the period in which the related expenses are incurred. Deferred revenue consists of amounts received in advance of the delivery of goods and rendering of services that will be recognized as revenue in a subsequent fiscal year as it is earned. Other revenues are recognized in the period the event giving rise to the revenues occurred. Revenues that are non-respendable are not available to discharge the Department's liabilities. While the DH is expected to maintain accounting control, he or she has 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 as a reduction of the entity's gross revenues.

• Expenses

  Transfer payments are recorded as an expense in the year the transfer is authorized and all eligibility criteria have been met by the recipient. 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, employer contributions to the health and dental insurance plans, legal services and workers' compensation are recorded as operating expenses at their carrying value.

• Employee future benefits
  • Pension Benefits - Eligible employees participate in the Public Service Pension Plan, a multi-employer pension plan administered by the Government. The Agency's contributions to the Plan are charged to expenses in the year incurred and represent the total Agency obligation to the Plan. The Agency'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.
  • Severance benefits - The accumulation of severance benefits for voluntary departures ceased for applicable employee groups. The remaining obligation for employees who did not withdraw benefits is calculated using information derived from the results of the actuarially determined liability for employee severance benefits for the Government as a whole.
• Accounts receivable

  Accounts receivable are initially recorded at cost. When necessary, an allowance for valuation is recorded to reduce the carrying value of accounts receivable to amounts that approximate their net recoverable value.

• Non-financial assets

  The costs of acquiring land, buildings, equipment and other capital property are capitalized as tangible capital assets and, except for land, are amortized to expense over the estimated useful lives of the assets, as described in Note 7. All tangible capital assets and leasehold improvements having an initial cost of $10,000 or more are recorded at their acquisition cost. Tangible capital assets do not include immovable assets located on reserves as defined in the Indian Act, works of art, museum collection and Crown land to which no acquisition cost is attributable; and intangible assets.

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

Asset Class	Sub-asset Class	Amortization Period
Other equipment (inc. furniture)	Furniture and fixtures	10 years
Informatics software	Server	4 years
Machinery and equipment	Video conferencing equipment	3 years

i. Contingent liabilities

Contingent liabilities are potential liabilities which may become actual liabilities when one or more future events occur or fail to occur. If the future event is likely to occur or fail to occur, and a reasonable estimate of the loss can be made, a provision is accrued and an expense recorded to other expenses. If the likelihood is not determinable or an amount cannot be reasonably estimated, the contingency is disclosed in the notes to the financial statements.

j. Measurement uncertainty

The preparation of financial statements requires management to make estimates and assumptions that affect the reported and disclosed amounts of assets, liabilities, revenues and expenses reported in the financial statements and accompanying notes at March 31. The estimates are based on facts and circumstances, historical experience, general economic conditions and reflect the Government’s best estimate of the related amount at the end of the reporting period. The most significant items where estimates are used are contingent liabilities, 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

The Agency receives most of its funding through annual parliamentary authorities. Items recognized in the Statement of Operations and the 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, the Agency 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:

	2020	2019
	(in dollars)
Net cost of operations before government funding and transfers	71,906,372	52,011,477
Adjustments for items affecting net cost of operations but not affecting authorities:
Services provided without charge by other government departments	(6,449,360)	(5,426,082)
Amortization of tangible capital assets	(65,591)	(27,331)
Revenues not available for respending	(431,335)	565,158
Refund of prior year's expenditures	102,896	88,104
Adjustments for prior year's Payables at Year End	0	10,491
Decrease (Increase) for vacation pay and compensatory leave	(1,276,384)	(392,887)
Decrease (Increase) for employee future benefits	(339,701)	138,849
Other transfers of assets and liabilities (to)/ from other government departments	0	0
Acquisition of tangible capital assets	0	596,242
Current year authorities used	63,446,897	47,564,021

b) Authorities provided and used

	2020	2019
	(in dollars)
Authorities provided
Vote 1 – Operating expenditures	53,850,300	50,597,197
Vote 5 - Grants and contributions	14,525,184	0
Statutory amounts	6,252,935	3,513,244
Less:
Lapsed: Operating	(11,181,522)	(6,546,420)
Current year authorities used	63,446,897	47,564,021

4. Accounts payable and accrued liabilities

The following table presents details of the Agency's Accounts payable and accrued liabilities:

	2020	2019
	(in dollars)
Accounts payable- Other government departments and agencies	2,011,982	1,051,638
Accounts payable - External parties	3,661,560	3,340,795
Total accounts payable	5,673,542	4,392,433
Accrued liabilities	3,683,561	2,719,847
Total accounts payable and accrued liabilities	9,357,103	7,112,280

5. Accounts receivable and advances

The following table presents details of the Agency's accounts receivable and advances balances:

	2020	2019
	(in dollars)
Receivables - Other government departments and agencies	432,460	88,494
Receivables - External parties	3,797,342	4,143,937
Employee advances	47,163	30,244
Sub-Total	4,276,965	4,262,675
Allowance for doubtful accounts on receivables from external parties	(898,663)	(898,663)
Gross accounts receivable	3,378,302	3,364,012
Accounts receivable held on behalf of Government	(776,402)	(613,754)
Total accounts receivable and advances	2,601,900	2,750,258

6. Employee future benefits

a) Pension benefits

The Agency's employees participate in the Public Service Pension Plan (the "Plan") which is sponsored and administered by the Government. 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 the Agency contribute to the cost of the Plan. Due to the amendment of the Public Service Superannuation Act following the implementation of provisions related to 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 2019–2020 expense amounts to $4,332,034 ($2,450,136 in 2018–2019). For Group 1 members, the expense represents approximately 1.01 times (1.01 times in 2018–2019) the employee contributions, and for Group 2 members, approximately 1.00 (1.00 times in 2018-2019) the employee contributions.

The Agency'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 the Agency’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, 2020, 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:

	2019	2020
	(in dollars)
Accrued benefit obligation, beginning of year	1,141,619	1,280,468
Expense (Adjustment) for the year	351,233	(36,103)
Benefits paid during the year	(11,531)	(102,746)
Accrued benefit obligation, end of year	1,481,320	1,141,619

7. Tangible Capital Assets

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
Other equipment (including furniture)	10 years
Informatics software	4 years
Machinery and equipment	3 years

Assets under construction are recorded in the applicable asset class in the year they are put into service and are not amortized until they are put into service.

Capital Asset Class	Cost			Accumulated Amortization			Net Book Value
	Opening Balance	Acquisitions	Closing Balance	Opening Balance	Amortization	Closing Balance	2020	2019
	(in dollars)
Machinery and Equipment	196,772	0	196,772	27,331	65,591	92,922	103,850	169,441
Other equipment (including furniture)	0	0	0	0	0	0	0	0
Informatics software	0	0	0	0	0	0	0	0
Assets under construction	399,470	0	399,470	0	0	0	399,470	399,470
Total	596,242	0	596,242	27,331	65,591	92,922	503,320	568,911

8. Contractual obligations

The nature of the Agency’s activities may result in some large multi-year contracts and obligations whereby the Agency 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:

	2021	2022	2023	2024	2025 and subsequent	Total
	(in dollars)
Transfer payments	11,457,266	5,481,722	1,812,600	-	-	18,751,588
Professional services	3,024,133	172,821	55,030	-	-	3,251,984
Operating leases	-	-	-	-	-
Total	14,481,399	5,654,543	1,867,630	0	-	22,003,572

9. Contingent liabilities

a) Transfer payments

The Agency expects to meet all near-term liabilities relating to transfer payments. However, a change in economic conditions could result in the resumption of several environmental assessments currently on hold as well as new assessments which could increase the demand for transfer payments. The Agency would request support from the Government of Canada through Central agencies to cover any potential funding shortfall.

b) Claims and litigation

Claims have been made against the Agency in the normal course of operations. These claims include items with pleading amounts and other for which no amount is specified. While the total amount claimed in these actions is significant, their outcomes are not determinable.

10. Related party transactions

The Agency is related as a result of common ownership to all government departments, agencies, and Crown corporations. Related parties also include individuals who are members of key management personnel or close family members of those individuals, and entities controlled by, or under shared control of, a member of key management personnel or a close family member of that individual.

The Agency enters into transactions with these entities in the normal course of business and on normal trade terms.

The Agency also obtains selected financial services, materiel management, informatics, and compensation and benefits services under a shared services agreement with Environment and Climate Change Canada.

a) Common services provided without charge by other government departments

During the year, the Agency received services without charge from certain common service organizations, related to accommodation, legal services, the employer’s contribution to the health and dental insurance plans. These services without charge have been recorded at the carrying value in the Agency’s Statement of Operations and Departmental Net Financial Position as follows:

	2020	2019
	(in dollars)
Employer's contribution to the health and dental insurance plans	3,506,962	2,398,580
Accommodation	2,200,997	2,322,601
Legal services	741,401	704,901
Total	6,449,360	5,426,082

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 the 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 the Agency's Statement of Operations and Departmental Net Financial Position.

b) Other transactions with other government departments and agencies

	2020	2019
	(in dollars)
Accounts receivable	432,460	88,494
Accounts payable	2,011,982	1,051,638
Expenses	8,043,286	6,422,468
Revenues	0	48,254

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

11. Segmented information

Presentation by segment is based on the Department's core responsibility. 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 main core responsibilities, by major object of expense and by major type of revenue. The segment results for the period are as follows:

				2020	2019
	Environmental Assessment Delivery	Environmental Assessment Policy	Internal Services	Total	Total
	(in dollars)
Transfer payments
Aboriginal Groups	6,491,763	0	0	6,491,763	4,694,564
Non-profit organizations	601,169	0	0	601,169	149,427
Other levels of government	295,500	0	0	295,500	245,500
Total transfer payments	7,388,431	0	0	7,388,431	5,089,492
Operating Expenses
Salaries and employee benefits	27,324,992	16,875,640	5,439,172	49,639,805	33,946,461
Professional and special services	3,080,579	3,222,546	4,061,399	10,364,524	6,616,943
Accommodation	822,675	1,548,883	437,723	2,809,281	2,905,112
Travel and relocation	1,397,178	225,830	132,442	1,755,450	1,139,406
Information	533,630	41,310	123,579	698,520	321,339
Furniture and equipment	40,514	14,489	927,831	982,834	1,593,082
Telecommunications	72,904	20	239,067	311,991	190,875
Utilities, materials and supplies	52,784	26,548	130,575	209,907	484,771
Postage	16,191	0	27,235	43,426	30,027
Repairs and maintenance	1,225	399	7,034	8,657	119,542
Amortization	0	0	65,591	65,591	27,331
Other	2,832	1,490	(1,958)	2,365	1,670,447
Total operating expenses	33,345,504	21,957,156	11,589,690	66,892,350	49,045,337
Total expenses	40,733,935	21,957,156	11,589,690	74,280,781	54,134,828
Revenues
Environmental assessment and training services	2,264,674	0	3,815	2,268,489	1,935,822
Miscellaneous revenues	26,673	68,649	10,600	105,921	187,529
Total revenues	2,291,347	68,649	14,414	2,374,409	2,123,351
Net cost of operations before government funding and transfers	38,442,588	21,888,507	11,575,276	71,906,371	52,011,477

12. Adjustments to prior year’s results

In 2019-2020, the Agency conducted a review of its reporting methods related to assets. The review noted that salary overpayments should be classified as "assets held on behalf of the Government". The change has been applied and comparative information for 2018­2019 has been restated. The following table presents the effects of the prior year restated financial results.

Statement of Financial Position	(in dollars)
	2019 As previously stated	Effect of the adjustment	2019 Restated
Due from the Consolidated Revenue fund	7,025,015	(613,754)	6,411,261
Financial assets held on behalf of the Government	-	(613,754)	(613,754)
Total net financial assets	10,389,027	(1,227,508)	9,161,519
Agency net financial assets	753,669	(1,227,508)	(473,839)
Agency net financial position	1,322,580	(1,227,508)	95,072
Statement of Operations and Departmental Financial Position
Net cash provided by government	44,529,413	(613,754)	43,915,659
Change in due from the Consolidated Revenue Fund	3,034,058	(613,754)	2,420,304
Net cost of operations after government funding and transfers	(978,074)	1,227,508	249,434
Agency net financial position - End of year	1,322,580	(1,227,508)	95,072
Statement of Changes in Departmental Net Debt
Net cost of operations after government funding and transfers	(978,074)	1,227,508	249,434
Net increase (decrease) in Agency net debt	(409,163)	1,227,508	818,345
Agency net debt - End of year	(753,669)	1,227,508	473,839
Statement of Cash Flows
Increase (decrease) in accounts receivable and advances	668,272	(613,754)	54,518
Cash used by Operating Activities	43,933,171	(613,754)	43,319,417
Net cash provided by Government of Canada	44,529,413	(613,754)	43,915,659