Western Economic Diversification Canada
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Section II: Expenditure Overview

Actual Expenditures

Budgetary Financial Resources (dollars)
2015–16
Main Estimates
2015–16
Planned Spending
2015–16
Total Authorities Available for Use
2015–16
Actual Spending
(authorities used)
Difference
(actual minus planned)
159,913,914 159,913,914 165,119,375 155,691,374 (4,222,540)

 

Human Resources (Full-Time Equivalentsxiv[FTEs])
2015–16
Planned
2015–16
Actual
2015–16
Difference
(actual minus planned)
306 287 (19)

 

Budgetary Performance Summary

Budgetary Performance Summary for Programs and Internal Services (dollars)
Program(s)
and Internal Services
2015-16
Main Estimates
2015-16
Planned Spending
2016-17
Planned Spending
2017-18
Planned Spending
2015-16
Total Authorities Available for Use
2015-16
Actual Spending (authorities used)
2014-15
Actual Spending (authorities used)
2013-14
Actual Spending (authorities used)
Business Development and Innovation 100,520,050 100,520,050 95,135,450 94,352,960 104,690,346 97,298,416 107,678,368 98,912,661
Community Economic Growth 34,862,792 34,862,792 57,322,492 57,141,987 35,071,380 35,240,300 31,958,193 62,155,737
Policy, Advocacy and Coordination 10,145,094 10,145,094 8,414,266 8,195,025 10,471,837 8,922,602 8,736,194 9,306,314
Internal Services 14,385,978 14,385,978 12,519,328 12,968,729 14,885,812 14,230,056 13,629,781 17,953,579
Total 159,913,914 159,913,914 173,391,536 172,658,701 165,119,375 155,691,374 162,002,536 188,328,291

Planned spending of $159.9 million for 2015–16 was increased by $5.2 million provided through new authorities and transfers, including $2.5 million from collections of repayable contributions, $1.0 million for a transfer from the Royal Canadian Mounted Police to contribute to the development and deployment of enhanced marine radar, $1.8 million for an operating budget carry forward, and a reduction of $0.1 million for various other minor adjustments.

Actual spending of $155.7 million is lower than planned spending by $4.2 million. This variance is primarily due to frozen allotments related to other government initiatives and personnel.

Actual FTE utilization is lower than planned as a result of a departmental strategy to review and streamline functions to improve efficiencies for future years. Results continue to be achieved sooner than planned.

Departmental Spending Trend

Departmental Spending Trend

 

    2013–14 2014–15 2015–16 2016–17 2017–18 2018-19
  Sunset Programs 25.7 - - - - -
  Statutory 5.2 4.2 4.0 4.1 4.1 4.1
  Voted 157.4 157.8 151.7 169.3 168.6 139.4
  Total 188.3 162.0 155.7 173.4 172.7 143.5

The figures presented in the chart above reflect the impact that sunset funding and new initiatives have on the department's overall spending. The majority of sunset funding is due to the cessation of the Community Infrastructure Improvement Fund initiative. Planned spending will increase in 2016–17 and 2017–18 as a result of the introduction of the Canada 150 Community Infrastructure Program initiative.

In addition, the figures presented in the chart above do not include funds spent on behalf of other government departments. For example, in fiscal year 2015–16, WD expended approximately $18.7 million on behalf of Infrastructure Canada, under the Building Canada Fund.

Expenditures by Vote

For information on the WD's organizational voted and statutory expenditures, consult the Public Accounts of Canada 2016.xv

Alignment of Spending With the Whole-of-Government Framework

 

Alignment of 2015-16 Actual Spending With the Whole-of-Government Frameworkxvi (dollars)
Program Spending Area Government of Canada Outcome 2015-16
Actual Spending
1.1 Business Development and Innovation Economic Affairs Strong economic growth 97,298,416
1.2 Community Economic Growth Economic Affairs Strong economic growth 35,240,300
1.3 Policy, Advocacy and Coordination Economic Affairs Strong economic growth 8,922,602

 

Total Spending by Spending Area (dollars)
Spending Area Total Planned Spending Total Actual Spending
Economic affairs 145,527,936 141,461,318
Social affairs 0 0
International affairs 0 0
Government affairs 0 0

Financial Statements and Financial Statements Highlights

Financial Statements

The complete WD financial statements can be found at http://www.wd.gc.ca/eng/59.asp.

Financial Statements Highlights

The financial highlights presented within this Departmental Performance Report are intended to serve as a general overview of WD's financial position and operations. The unaudited financial statements are prepared in accordance with accrual accounting principles (the link to complete financial statements is above).

 

Condensed Statement of Operations (unaudited) For the Year Ended March 31, 2016 (dollars)
Financial Information 2015–16
Planned Results
2015–16
Actual
2014–15
Actual
Difference
(2015–16 actual
minus 2015–16 planned)
Difference
(2015–16 actual
minus 2014–15 actual)
Total expenses 149,013,331 136,890,171 151,214,094 (12,123,160) (14,323,923)
Total revenues 1,871 3,244 589 1,373 2,655
Net cost of operations before government funding and transfers 149,011,460 136,886,927 151,213,505 (12,124,533) (14,326,578)

Total expenses ($136.9 million)

Total Expenses

Total expenses were $136.9 million in 2015–16, a decrease of $14.3 million (9 percent) over 2014–15. This year-over-year decrease is attributed to a reduction in transfer payment expenses of $13.6 million, primarily due to a decrease in funding to non- repayable projects under the Western Diversification Program. The remaining $0.7 million is attributed to a reduction in operating expenses.

 

Condensed Statement of Financial Position (unaudited)
As at March 31, 2016 (dollars)
Financial Information 2015–16 2014–15 Difference (2015–16 minus 2014–15)
Total net liabilities 56,291,696 73,163,019 (16,871,323)
Total net financial assets 53,412,053 69,989,517 (16,577,464)
Departmental net debt (2,879,643) (3,173,502) 293,859
Total non-financial assets 90,885 228,463 (137,578)
Departmental net financial position (2,788,758) (2,945,039) 156,281

 

Total net liabilities ($56.3 million)

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Total net liabilities were $56.3 million at the end of 2015–16, a decrease of $16.9 million (23 percent) over 2014–15. This year-over-year decrease is attributed to a reduction in the establishment of year-end accounts payable balances, not required due to the timing in the processing of claims for reimbursement.

Total net financial assets ($53.4 million)

Total net financial assets pie chart

Total net financial assets were $53.4 million at the end of 2015–16, a decrease of $16.6 million (24 percent) over 2014–15. This year-over-year decrease is related mostly to amounts Due from Consolidated Revenue Fund, as a lesser amount is required to pay for accounts payable balances established in 2015–16.