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FUTURE-ORIENTED FINANCIAL STATEMENTS FOR THE YEAR ENDING MARCH 31

Statement of Management Responsibility

Departmental management is responsible for these future-oriented financial statements, including responsibility for the appropriateness of the assumptions on which these statements are prepared. These statements are based on the best information available and assumptions adopted as at November 30, 2012 and reflect the plans described in the Report on Plans and Priorities.

The actual results achieved for the fiscal years covered in the accompanying future-oriented financial statements will vary from the information presented and the variations may be material.

The Future-oriented Financial Statements for Western Economic Diversification Canada have not been audited.

 

Daphne Meredith
Deputy Minister
Edmonton, Canada

February 12, 2013
Date

 

 

 

Jim Saunderson
Chief Financial Officer
Edmonton, Canada

 

 

 


February 12, 2013
Date

Future-oriented Statement of Financial Position (Unaudited)
As at March 31

(in thousands of dollars)

  Estimated  Results 2013 Planned Results 2014
Liabilities
Accounts payable and accrued liabilities (Note 6) $ 81,889 $ 75,624
Vacation pay and compensatory leave 1,740 1,548
Employee future benefits (Note 7) 5,212 5,195
Total net liabilities 88,841 82,367
 
Financial assets
Due from Consolidated Revenue Fund 81,744 75,469
Accounts receivable and advances (Note 8) 203 221
Loans receivable (Note 9) 19,631 15,925
Total gross financial assets 101,578 91,615
 
Financial assets held on behalf of Government
Accounts receivable and advances (Note 8) 0 0
Loans receivable (Note 9) (19,631) (15,925)
Total financial assets held on behalf of Government (19,631) (15,925)
 
Total net financial assets 81,947 75,690
 
Departmental net debt 6,894 6,677
 
Non-financial assets
Tangible capital assets (Note 10) 782 431
Total non-financial assets 782 431
 
Departmental net financial position $ (6,112) $ (6,246)
Information for the year ended March 31, 2013 includes actual amounts from April 1, 2012 to November 30, 2012.

Contractual Obligations (Note 11)

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

Future-oriented Statement of Operations and Departmental Net Financial Position (Unaudited)
For the Year Ending March 31

(in thousands of dollars)

  Estimated Results 2013 Planned Results 2014
Expenses
Business Development and Innovation $ 122,808 $ 93,541
Community Economic Growth 36,244 52,617
Policy, Advocacy and Coordination 11,186 9,434
Internal Services 26,914 23,672
Expenses incurred on behalf of Government (358) 908
Total expenses 196,794 180,172
 
Revenues
Amortization of discount 437 366
Interest 11 14
Other 46 41
Revenues earned on behalf of government (489) (418)
Total revenues 5 3
 
Net cost of operations before government funding and transfers 196,789 180,169
 
Government funding and transfers
Net cash provided by Government 187,849 180,171
Change in due from Consolidated Revenue Fund 1,557 (6,275)
Services provided without charge by other government departments (Note 12) 6,704 6,139
Transfer of assets and liabilities from (to) other government departments (Note 13) (60) 0
Total government funding and transfers 196,050 180,035
 
Net cost of operations after government funding and transfers 739 134
 
Departmental net financial position - Beginning of year (5,373) (6,112)
 
Departmental net financial position - End of year $ (6,112) $ (6,246)
Information for the year ended March 31, 2013 includes actual amounts from April 1, 2012 to November 30, 2012.

Segmented information (Note 14)

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

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Future-oriented Statement of Change in Departmental Net Debt (Unaudited)
For the Year Ending March 31

(in thousands of dollars)

  Estimated Results 2013 Planned Results 2014
Net cost of operations after government funding and transfers $ 739 $ 134
 
Change due to tangible capital assets
Acquisition of tangible capital assets 0 0
Amortization of tangible capital assets (413) (351)
Proceeds from disposal of tangible capital assets 0 0
Net (loss) or gain on disposal of tangible capital assets including adjustments 0 0
Transfer to other government departments (Note 13) (4) 0
Total change due to tangible capital assets (417) (351)
 
Net increase (decrease) in departmental net debt 322 (217)
 
Departmental net debt - Beginning of year 6,572 6,894
 
Departmental net debt - End of year $ 6,894 $ 6,677
Information for the year ended March 31, 2013 includes actual amounts from April 1, 2012 to November 30, 2012.

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

 

Future-oriented Statement of Cash Flows (Unaudited)
For the Year Ending March 31

(in thousands of dollars)

  Estimated Results 2013 Planned Results 2014
Operating activities
Net cost of operations before government funding and transfers $ 196,789 $ 180,169
Non-cash Items:
Amortization of tangible capital assets (413) (351)
Services provided without charge
by other government departments (Note 12)
(6,704) (6,139)
 
Variations in Statement of Financial Position:
Increase (decrease) in accounts receivable and advances 44 18
Decrease (increase) in accounts payable and accrued liabilities (1,640) 6,265
Decrease (increase) in vacation pay and compensatory leave (56) 192
Decrease (increase) in future employee benefits (227) 17
Transfer of liabilities to other government departments (Note 13) 56 0
Cash used in operating activities 187,849 180,171
 
Capital investing activities
Acquisition of tangible capital assets 0 0
Cash used in capital investing activities 0 0
 
Net cash provided by Government of Canada $ 187,849 $ 180,171
Information for the year ended March 31, 2013 includes actual amounts from April 1, 2012 to November 30, 2012.

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

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Notes to the Future-oriented Financial Statements (Unaudited)
For the Year Ending March 31

1. Authority and objectives

Western Economic Diversification Canada (WD) is the federal government's regional development agency in the West. Established in 1987, WD is responsible for strengthening, diversifying and expanding the economy of Western Canada. Today, with the challenges of a shifting global economy, WD's contributions have become more important than ever.

Our vision is to be leaders in creating a more diversified western Canadian economy that has strong, competitive and innovative businesses and communities.

WD's presence in each western province has enabled it to work with key partners–other orders of government, community and business leaders, research and academic institutions as well as non-profit organizations–to leverage its investments and actions to benefit the western economy.

WD works to develop and diversify the economy, contributing to productivity and Gross Domestic Product (GDP) growth in the West, helping to build companies that are innovative and competitive in the global marketplace and reducing the region's dependence on primary industries.

WD's strategic outcome is advanced through the following program activities:

  1. Business Development and Innovation: Western Canada small-and medium-sized enterprises (SMEs) are engaged in international business, are competitive and are innovative.
     
  2. Community Economic Growth: Western Canadian communities have strong businesses, the capacity for socio-economic development, and the necessary public infrastructure to support economic growth.
     
  3. Policy, Advocacy and Coordination: policies and programs that strengthen the western Canadian economy.
     
  4. Internal Services: effective and efficient support for the delivery of the organizational strategic outcome.

2. Methodology and significant assumptions

The future-oriented financial statements have been prepared on the basis of the government priorities and the plans of the department as described in the Report on Plans and Priorities.

The information in the estimated results for fiscal year 2012–13 is based on actual results as at November 30, 2012 and forecasts for the remainder of the year. Estimated year end information for 2012–13 is used as the opening position for 2013–14 planned results, and forecasts have been made for the planned results for the 2013–14 fiscal year.

The main assumptions are as follows:

  1. The department's activities will remain substantially the same as for the previous year.
     
  2. Expenses and revenues, including the determination of amounts internal and external to the government, are based on historical experience. The general historical pattern is expected to continue.
     
  3. Allowances for uncollectible accounts are based on historical experience. The general historical pattern is expected to continue.

These assumptions are adopted as at November 30, 2012.

3. Variations and Changes to the Forecast Financial Information

While every attempt has been made to forecast final results for the remainder of 2012–13 and for 2013–14, actual results achieved for both years are likely to vary from the forecast information presented, and this variation could be material.

In preparing these future-oriented financial statements, WD has made estimates and assumptions concerning the future. These estimates and assumptions may differ from the subsequent actual results. Estimates and assumptions are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Factors that could lead to material differences between the future-oriented financial statements and the historical financial statements include:

  1. The timing and amounts of acquisitions and disposals of property, plant and equipment may affect gains/losses and amortization expense.
     
  2. Implementation of new collective agreements.
     
  3. Economic conditions may affect both the amount of revenue earned and the collectability of loan receivables.
     
  4. Interest rates in effect at the time of issue will affect the net present value of non-interest bearing loans.
     
  5. Further changes to the operating budget through additional new initiatives or technical adjustments later in the year.

Once the Report on Plans and Priorities is presented, WD will not be updating the forecasts for any changes to appropriations or forecast financial information made in ensuing supplementary estimates. Variances will be explained in the Departmental Performance Report.

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4. Summary of significant accounting policies

These future-oriented 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 Canadian public sector accounting standards.

A revised Treasury Board Accounting Standard 1.2 - Departmental and Agency Financial Statements was brought into force after the preparation of WD’s 2012–13 future-oriented financial statements. The revised standard resulted in the following changes to the WD's financial statements; (1) Net debt (calculated as liabilities less financial assets) is now presented in the Statement of Financial Position. Accompanying this change, WD now presents a Statement of Change in Net Debt and no longer presents a Statement of Equity, (2) Revenue, loans receivable and related accounts receivable are now presented net of non-respendable amounts in the Statement of Operations and Departmental Net Financial Position and Statement of Financial Position and,  (3) Government funding and transfers, as well as the credit related to services provided without charge by other government departments, are now recognized in the Statement of Operations and Departmental Net Financial Position below "Net cost of operations before government funding and transfers." In previous years, WD recognized these transactions directly in the Statement of Equity of Canada.

Significant accounting policies are as follows:

  1. Parliamentary authorities – WD is financed by the Government of Canada through Parliamentary authorities. Financial reporting of authorities provided to WD 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 Future-oriented Statement of Operations and Departmental Net Financial Position and in the Future-oriented Statement of Financial Position are not necessarily the same as those provided through authorities from Parliament. Note 5 provides a reconciliation between the bases of reporting.
     
  2. Net Cash Provided by Government – WD operates within the Consolidated Revenue Fund (CRF), which is administered by the Receiver General for Canada. All cash received by WD is deposited to the CRF, and all cash disbursements made by WD 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 WD is entitled to draw from the CRF without further authorities to discharge its liabilities.
     
  4. Revenues:
     
    • Revenues from regulatory fees are recognized in the accounts based on the services provided in the year.

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

      Revenues that are non-respendable are not available to discharge WD's liabilities. While the Deputy Head is expected to maintain accounting control 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 in reduction of the entity's gross revenues.
       
  5. Expenses - Expenses are recorded on an 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 future-oriented 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, employer contributions to the health and dental insurance plans, legal services and workers' compensation 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 (The Public Service Superannuation Act), a multi-employer plan administered by the Government. WD’s contributions to the Plan are charged to expenses in the year incurred and represent the total departmental obligation to the Plan. WD’s responsibility with regard to the Plan is limited to its contributions. Actuarial surpluses or deficiencies are recognized in the future-oriented 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 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 are stated at the lower of cost and net recoverable value. However, when the terms of the loans are concessionary, such as those provided with a low or no interest clause, they are recorded at their estimated present value. A portion of the unamortized discount is recorded as revenue each year to reflect the change in the present value of the loans outstanding. Transfer payments that are unconditionally repayable are recognized as loans receivable. A valuation allowance is recorded for accounts and loans receivable where recovery is considered uncertain.
     
  8. Tangible capital assets – All tangible assets and leasehold improvements having an initial cost of $10,000 or more are recorded at their acquisition cost. WD 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
    Machinery and equipment 10 years
    Vehicles 5 years
    Computer Hardware 3 years
    Computer Software 3-7 years
    Leasehold improvements Lesser of the remaining term of lease
    or useful life of the improvement

    Assets under construction are recorded in the applicable capital asset class in the year that they become available for use and are not amortized until they become available for use.
     
  9. Measurement uncertainty – The preparation of these future-oriented financial statements requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses reported in the future-oriented financial statements. At the time of preparation of these statements, management believes the estimates and assumptions to be reasonable. Actual results could significantly differ from those estimated.

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5. Parliamentary Authorities

WD receives most of its funding through annual parliamentary authorities. Items recognized in the Future-oriented Statement of Operations and Departmental Net Financial Position and the Future-oriented Statement of Financial Position in one year may be funded through parliamentary authorities in prior, current or future years. Accordingly, WD 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) Authorities requested:

  Estimated Results 2013 Planned Results 2014
(in thousands of dollars)
Authorities requested
Vote 1 - Operating expenditures $ 45,765 $ 40,398
Vote 5 - Transfer payments 143,648 134,911
Statutory amounts 9,588 4,892
 
Forecasted authorities available $ 199,001 $ 180,201

Authorities presented reflect current forecasts of statutory items, approved initiatives included and expected to be included in Estimates documents and, when reasonable estimates can be made, estimates of amounts to be allocated from Treasury Board central votes.

(b) Reconciliation of net cost of operations to requested authorities:

  Estimated Results 2013 Planned Results 2014
(in thousands of dollars)
Net cost of operations before government funding and transfers $ 196,789 $ 180,169
 
Adjustments for items affecting net cost of operations but not affecting authorities:
 
Amortization of tangible capital assets (413) (351)
Services provided without charge by other government departments (6,704) (6,139)
Transfer payment conditions met 4,184 4,184
Decrease in vacation pay and compensatory leave (56) 192
Decrease in employee future benefits (227) 17
Decrease in accrued liabilities not charged to authorities 1,797 1,727
Refund of prior years expenditures 306 399
Other 5 3
Total items affecting net cost of operations but not affecting authorities (1,108) 32
 
Adjustments for items not affecting net cost of operations, but affecting authorities:
 
Loss support transfer payments 1,000 0
Total items not affecting net cost of operations but affecting authorities 1,000 0
 
Forecast current year lapse 2,320 0
 
Forecast authorities available $ 199,001 $ 180,201

6. Accounts payable and accrued liabilities

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

  Estimated Results 2013 Planned Results 2014
(in thousands of dollars)
Accounts payable - Other government departments and agencies $ 2,587 $ 3,033
Accounts payable - External parties 77,866 71,200
Total accounts payable 80,453 74,233
 
Accrued liabilities 1,436 1,391
 
Total accounts payable and accrued liabilities $ 81,889 $ 75,624

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7. Employee future benefits

(a) Pension benefits

WD's employees participate in the Public Service Pension 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 WD contribute to the cost of the pension plan. The forecast expenses for the employer's share are $3,631,236 in 2012–13 and $3,493,000 in 2013–14.

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

(b) Severance benefits

WD provides severance benefits to its employees based on eligibility, years of service and salary at termination of employment. These severance benefits are not pre-funded. Benefits will be paid from future authorities. Information about the severance benefits, estimated as at the date of these statements, is as follows:

As part of the collective agreement negotiations with certain employee groups, and changes to conditions of employment for executives and certain non-represented employees, the accumulation of severance benefits under the employee severance pay program ceased for the employees commencing in 2012. Employees subject to these changes have been given the option to be immediately paid the full or partial value of benefits earned to date or collect the full or remaining value of benefits on termination from the public service. These changes have been reflected in the calculation of the outstanding severance benefit calculation.

  Estimated Results 2013 Planned Results 2014
(in thousands of dollars)
Accrued benefit obligation - Beginning of year $ 4,985 $ 5,212
Expense for the year 1,888 1,978
Benefits paid during the year (1,661) (1,995)
Accrued benefit obligation - End of the year $ 5,212 $ 5,195

8. Accounts receivable and advances

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

  Estimated Results 2013 Planned Results 2014
(in thousands of dollars)
Receivables - Other government departments and agencies $ 141 $ 151
Receivables - External parties 58 66
Employee advances 4 4
Subtotal 203 221
 
Gross accounts receivable 203 221
 
Accounts receivable held on behalf of Government - -
 
Net accounts receivable $ 203 $ 221

9. Loans receivable

The following table presents details of WD's loans and transfer payments recoverable balances:

  Estimated Results 2013 Planned Results 2014
(in thousands of dollars)
Loans receivable
Unconditionally repayable contributions $ 32,858 $ 27,212
Accrued interest - unconditionally repayable contributions 3,276 0
Less: Unamortized discount (1,278) (912)
Subtotal 34,856 26,300
 
Less: Allowance for uncollectibility (15,225) (10,375)
 
Gross loans receivable 19,631 15,925
 
Loans receivable held on behalf of Government (19,631) (15,925)
 
Net loans receivable $ 0 $ 0

(a) Unconditionally repayable transfer payments

The unconditionally repayable transfer payment portfolio consists of 28 non-interest bearing loans issued in the years from 1992 to 2013, with prescribed repayment terms. The loans are recorded at their discounted net present values using market interest rates at the time of the loans. An allowance of $10,375,000 ($15,225,000 in 2012–13) has been recorded.

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10. Tangible capital assets

Capital asset class Cost Accumulated Amortization Net Book Value
Opening balance Acquisitions Adjustments Disposals and Write-offs Closing balance Opening balance Amortization Adjustments Disposals and Write-offs Closing balance Estimated Results 2013 Planned Results 2014
(in thousands of dollars)
Machinery and equipment $ 145 $ 0 $ 0 $ 0 $ 145 $ 87 $ 12 $ 0 $ 0 $ 99 $ 58 $ 46
Computer Software 2,242 0 0 0 2,242 1,735 252 0 0 1,987 507 255
Vehicles 75 0 0 0 75 45 11 0 0 56 30 19
Leasehold Improvements 1,004 0 0 0 1,004 817 76 0 0 893 187 111
Total $ 3,466 $ 0 $ 0 $ 0 $ 3,466 $ 2,684 $ 351 $ 0 $ 0 $ 3,035 $ 782 $ 431

11. Contractual obligations

The nature of WD's activities can result in some large multi-year contracts and obligations whereby WD 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:

  2014 2015 2016 2017 2018 and
thereafter
Total
(in thousands of dollars)
Transfer payments
Core programming $ 30,839 $ 2,948 $ 310 $ 330 $ 0 $ 34,427
Community Infrastructure Improvement Fund 8,372 0 0 0 0 8,372
Total $ 39,211 $ 2,948 $ 310 $ 330 $ 0 $ 42,799

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12. Related party transactions

WD is related as a result of common ownership to all government departments, agencies and Crown Corporations. WD enters into transactions with these entities in the normal course of business and on normal trade terms. During the year, WD received common services which were obtained without charge from other government departments as disclosed below.

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

During the year, WD 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 and workers' compensation coverage. These services provided without charge have been recorded in WD's Future-oriented Statement of Operations and Departmental Net Financial Position as follows:

  Estimated Results 2013 Planned Results 2014
(in thousands of dollars)
Employer's contribution to the health and dental insurance plans $ 3,317 $ 2,785
Accommodation 3,350 3,317
Legal services 0 0
Workers' Compensation 37 37
Total $ 6,704 $ 6,139

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 Works and Government Services Canada and audit services provided by the Office of the Auditor General, are not included in the WD's Future-oriented Statement of Operations and Departmental Net Financial Position.

(b) Administration of programs on behalf of other government departments

Part of WD’s mandate is to coordinate federal economic activities in the West. In this regard, WD implements programs on behalf of Infrastructure Canada. The following is a list of programs valued at greater than one million dollars in federal transfer payments to be administered by WD over the next two fiscal years. These transfer payment expenses are reflected in the future-oriented financial statements of the other government departments and not those of WD.

  Estimated Results 2013 Planned Results 2014
(in thousands of dollars)
Building Canada Fund (Communities) $ 78,781 $ 55,221
Canada Strategic Infrastructure Fund 5,956 3,500
Municipal Rural Infrastructure Fund 13,647 173
Total $ 98,384 $ 58,894

(c) Other transactions with related parties

  Estimated Results 2013 Planned Results 2014
(in thousands of dollars)
Expenses - Other government departments and agencies $ 2,051 $ 2,275

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13. Transfers from/to other government departments

During fiscal year 2012–13, WD transferred to Canada Border Services Agency assets with a book value of $4 thousand. WD also transferred to Shared Services Canada (SSC) liabilities with a book value of $56 thousand for payables at the end of 2011–12 fiscal year that WD paid on behalf of SSC.

  Estimated Results 2013 Planned Results 2014
(in thousands of dollars)
Assets:
Tangible capital assets (net book value)
Transferred to Canada Border Services Agency $ 4 $ 0
Total assets transferred 4 0
 
Liabilities:
Account payable and accrued liabilities
Transferred to Shared Services Canada (56) 0
Total liabilities transferred (56) 0
 
Adjustment to the departmental net financial position $ 60 $ 0

14. Segmented information

Presentation by segment is based on WD's program alignment architecture. The presentation by segment is based on the same accounting policies as described in the Summary of significant accounting policies in note 4. The following table presents the forecasted expenses incurred and forecasted revenues generated for the main program activities, by major object of expense and by major type of revenue. The segment results for the period are as follows:

  2013 Total 2014
Business Development and Innovation Community Economic Growth Policy, Advocacy and Coordination Internal Services Total
(in thousands of dollars)
Transfer payments
Non-profit organizations $ 133,569 $ 71,552 $ 49,367 $ 2,500 $ 0 $ 123,419
Other levels of governments within Canada 7,490 4,077 2,843 0 0 6,920
Industry 1,399 646 1,028 0 0 1,674
Transfer payments conditions met (4,184) 0 (4,184) 0 0 (4,184)
Total transfer payments 138,274 76,275 49,054 2,500 0 127,829
 
Operating expenses
Salaries and employee benefits 38,367 12,007 2,535 4,827 16,182 35,551
Professional and special services 8,222 2,240 473 899 3,055 6,667
Bad debt expense 668 0 (80) 0 0 (80)
Accommodation 3,350 1,108 234 446 1,529 3,317
Transportation and communication 3,566 943 200 379 1,287 2,809
Rentals 868 485 102 195 662 1,444
Acquisition of machinery and equipment 1,958 163 35 66 223 487
Amortization of tangible capital assets 413 13 0 0 338 351
Utilities, materials and supplies 727 153 32 61 208 454
Information 475 116 24 47 158 345
Repairs and maintenance 257 31 7 12 42 92
Other 7 7 1 2 (12) (2)
Expenses incurred on behalf of the government (358) 828 80 0 0 908
Total operating expenses 58,520 18,094 3,643 6,934 23,672 52,343
 
Total expenses 196,794 94,369 52,697 9,434 23,672 180,172
 
Revenues
Amortization of discount 437 0 366 0 0 366
Interest 11 9 5 0 0 14
Other 46 1 0 0 40 41
Revenues earned on behalf on government (489) (9) (371) 0 (38) (418)
Total revenues 5 1 0 0 2 3
 
Net cost from continuing operations $ 196,789 $ 94,368 $ 52,697 $ 9,434 $ 23,670 $ 180,169