2012-13 Departmental Performance Report
Financial Statements Highlights
The financial information presented within this report is intended to serve as a general overview of Fisheries and Oceans Canada's financial position and operations. The Department's financial statements can be found on the Fisheries and Oceans Canada website.
| 2012-13 Planned Results (restated) |
2012-13 Actual |
2011-12 Actual (restated) |
$ Change (2012-13 planned vs. actual) |
$ Change (2012-13 actual vs. 2011-12 actual) |
|
|---|---|---|---|---|---|
| Total Expenses | 1,768.4 | 1,876.3 | 2,028.6 | (107.8) | (152.3) |
| Total Revenues | 47.9 | 42.2 | 41.5 | 5.7 | 0.7 |
| Net Cost of Operations before Government Funding and Transfers |
1,720.5 | 1,834.0 | 2,005.3 | (113.5) | (171.2) |
| Departmental Net Financial Position | 2,459.0 |
2,296.4 | 2,220.3 | 162.5 | 76.1 |
| 2012-13 | 2011-12 (restated) |
$ Change | |
|---|---|---|---|
| Total Net Liabilities | 649.0 | 657.1 | (8.1) |
| Total Net Financial Assets | 261.2 | 226.0 | 35.1 |
| Departmental Net Debt | 387.8 | 431.0 | (43.2) |
| Total Non-financial Assets | 2,684.2 | 2,651.3 | 32.9 |
| Departmental Net Financial Position | 2,296.4 | 2,220.3 | 76.1 |
Total expenses were $1,876.3 million at the end of 2012-13, a decrease of $152.3 million or 7.5% when compared to the previous year. This decrease is mainly due to decreases in salaries and employee benefits ($47.0 million), transfer payments ($40.5 million), variation in environmental and contingent liabilities ($35.2 million), and repair and maintenance ($33.3 million).
Total expenses were $107.8 million or 6.1% higher than planned expenses. This difference is mainly due to the Department obtaining additional authorities of $111.3 million through Supplementary Estimates exercises. At the time the planned expenses were prepared, information on additional authorities from Supplementary Estimates was not approved. The above chart shows that the majority of expenses, $1,265.3 million or 67.4% were spent on Safe and Secure Waters and Economically Prosperous Maritime Sectors and Fisheries, with other strategic outcomes representing $611.0 million or 32.6% of total expenses.
Total revenues were $42.2 million at the end of 2012-13, an increase of less than $1.0 million or 1.7% when compared to the previous year. Total revenues were $5.7 million or 11.8% less than total planned revenues. This is mostly due to an increase in revenues earned on behalf of the Government of $4.6 million, that was netted against total revenues. The above chart shows that the majority of revenues, $28.2 million or 66.7%, were derived from Safe and Secure Waters, with other strategic outcomes representing $14.0 million or 33.3% of total revenues.
Total net liabilities were $649.0 million at the end of 2012-13, a decrease of $8.1 million or 1.2% when compared to the previous year. The above chart shows total net liabilities by type of liability.
Total net financial assets were $261.2 million at the end of 2012-13, an increase of $35.1 million or 15.5% when compared to the previous year. The amount due from the Consolidated Revenue Fund represents 97.5% of total net financial assets, with the balance being in accounts receivable and advances net of those held on behalf of the Government.
Total non-financial assets were $2,684.2 million at the end of 2012-13, an increase of $32.9 million or 1.2% over the previous year's total non-financial assets of $2,651.3 million. Tangible capital assets comprised 98.2% of total non-financial assets with the remaining balance in inventory.
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