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Report on Plans and Priorities 2015-16

Section III: Supplementary Information

Future-Oriented Statement of Operations

The future-oriented condensed statement of operations provides a general overview of WD's operations. The forecast of financial information on expenses and revenues is prepared on an accrual accounting basis to strengthen accountability and to improve transparency and financial management.

Because the future-oriented condensed statement of operations is prepared on an accrual accounting basis, and the forecast and planned spending amounts presented in other sections of the Report on Plans and Priorities are prepared on an expenditure basis, amounts differ.

A more detailed future-oriented statement of operations and associated notes, including a reconciliation of the net cost of operations to the requested authorities, can be found on the WD's website.xxii

Condensed Statement of Operations
For the Year Ended March 31
(dollars)
 
Financial Information 2014–15
Estimated Results
2015–16
Planned Results
Difference
Total expenses 148,178,764

 

149,013,331

 

834,567

 

Total revenues 2,337 1,871 (466)
Net cost of operations 148,176,427 149,011,460 835,033

WD's total expenses are $149.0 million in 2015–16, compared to $148.2 million in 2014–15. The $0.8 million increase in total expenses includes increases of $0.2 million in transfer payments and an increase of $0.6 million in operating costs.

Supplementary Information Tables

The supplementary information tables listed in the 2015–16 Report on Plans and Priorities can be found on WD's website.xxiii

 

Tax Expenditures and Evaluations

The tax system can be used to achieve public policy objectives through the application of special measures such as low tax rates, exemptions, deductions, deferrals and credits. The Department of Finance Canada publishes cost estimates and projections for these measures annually in the Tax Expenditures and Evaluationsxxix publication. The tax measures presented in the Tax Expenditures and Evaluations publication are the responsibility of the Minister of Finance.

 

 

Section IV: Organizational Contact Information

Western Economic Diversification Canada
Suite 1500, 9700 Jasper Avenue
Edmonton, Alberta T5J 4H7
Telephone: 780-495-4164
Fax: 780-495-4557
Web: http://www.wd-deo.gc.ca/