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Policy Application and Accounting Issues
Prepared in Collaboration
Public Works and Government Services Canada and
Treasury Board Secretariat
Draft December 1997
TABLE OF CONTENTS
1000 Foreword
2000 What is a revolving fund?
2100 Special operating agencies that use a revolving fund
3000 Financing a revolving fund
3100 Measuring the performance of a revolving fund
4000 Establishing a revolving fund
4100 Criteria
4200 Authorities required
4210 Authority to spend revenue
4220 Authority to drawdown
4230 Authority to charge fees
4240 Special considerations related to rights, privileges and intellectual property
4300 Business plan
4310 Executive summary
4320 Mandate statement
4330 Planning assumptions
4340 Operating environment
4350 Objectives, strategies and action plans by business line
4360 Performance measures and targets
4370 Reporting requirements
4400 Operational environment
4410 Continuous requirements
4500 Opening entries on specific items of the revolving fund Authority
5000 Financial statements
5100 Balance sheet
5200 Statement of operations
5300 Accumulated surplus/deficit
5400 Statement of changes in financial position
5500 Notes to the financial statements
5600 Other financial statements
6000 Specific items
6010 Accountable advances, petty cash and standing advances
6020 Accounts receivable
6030 Inventories
6040 Prepaid expenses
6050 Capital assets
6100 Accounts payable and accrued liabilities
6110 Unused annual leave
6120 Holdback payable
6130 Employee benefit plans (EBP)
6140 Termination benefits
6150 Revenue collected in advance
6160 Contributed capital
6170 Accumulated net charge against the fund's authority (ANCAFA)
6180 Accumulated surplus/deficit
6200 Cost of sales
6240 Amortization
6260 Gain or loss on disposal of capital assets
6270 Interest expense on drawdown
6290 Extraordinary items
6300 Goods and Services Tax (GST)
6320 Common service costs
6330 Subsidies
6340 Refunds of revenues collected in previous year
6380 Accounting changes and prior period adjustments
6390 Year-end adjustments for refunds of prior year expenditures and Payable At Year End (PAYE)
6400 Bid deposits
7000 Specialized areas
7010 Cost allocation method
7020 Accounting system
7030 Public accounts
7040 Audit
7050 Winding up a revolving fund
7060 Merger of a revolving fund
7070 Control of the statutory drawdown authority
7080 Preparation of Estimates
7090 Performance bonds
7100 Year-end reconciliation
8000 Appendices
8100 Appendix A — Division of responsibilities and authority established by the Treasury Board
8200 Appendix B — Abbreviations in this guide
8300 Appendix C — References
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