ARCHIVED – National Energy Board – 2011-12 Departmental Performance Report – Section III: Supplementary Information
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Section III: Supplementary Information
Financial Highlights
During 2011, amendments were made to Treasury Board Accounting Standard 1.2 – Departmental and Agency Financial Statements to improve financial reporting by government departments and agencies. The amendments are effective for financial reporting of fiscal years ending March 31, 2012, and later. The significant changes to the NEB’s financial statements are described below. These changes have been applied retroactively, and comparative information for 2010-11 has been restated.
Net debt (calculated as liabilities less financial assets) is now presented in the Statement of Financial Position. Accompanying this change, the NEB now presents a Statement of Change in Net Debt and no longer presents a Statement of Equity.
Revenue 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. The effect of this change was to increase the net cost of operations after government funding and transfers by $64,944,000 for 2012 ($65,260,000 for 2011) and decrease total financial assets by $25,446 for 2012 ($29,035 for 2011).
The most significant change in the Statement of Financial position relates to liabilities and, specifically, Other Payables which represents the balance at year-end of Greenfield fees that have been invoiced to external parties. These amounts are recognized as adjustments to other regulated parties and will be settled via reduced billings in 2012.
Change % | 2011-12 | 2010-11 | |
---|---|---|---|
Total net liabilities | 111.5% | 33.2 | 15.7 |
Total net financial assets | 19.7% | 7.3 | 6.1 |
Departmental net debt | 169.8% | 25.9 | 9.6 |
Total non-financial assets | 19.3% | 6.8 | 5.7 |
Departmental net financial position | (389.7)% | (19.1) | (3.9) |
Change % | 2011-12 | 2010-11 | |
---|---|---|---|
Total expenses | 7.9% | 72.1 | 66.8 |
Total revenues | - | - | |
Net cost of operations before government funding and transfers | 7.9% | 72.1 | 66.8 |
Departmental net financial position | (389.7)% | (19.1) | (3.9) |
Financial Highlights – Charts and Graphs
Due to the amendments to the Treasury Board Accounting Standard 1.2 – Departmental and Agency Financial Statements, revenue 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. The following graph compares the non-respendable revenues collected by the NEB on behalf of Government to the Expenses of the NEB for 2011-12 and 2010-11. A change in the accounting treatment for the billing adjustment that was implemented in 2009-10 continued to impact the non-respendable revenue for 2010-11 but has stabilized to a normal trend in 2011-12.
Non-respendable Revenues vs. Expenses
(000’s)
Text description of this graph
Revenues vs. Expenses
This bar chart shows the National Energy Board’s non-respendable revenues versus expenses for fiscal years 2011-12 and 2010-11.
Expenses by period are as follows:
- 2011-12: $72,095,000
- 2010-11: $66,834,000
Non-respendable Revenues by period are as follows:
- 2011-12: $64,944,000
- 2010-11: $65,260,000
Financial Statements
The NEB’s Financial Statements can be found on the NEB’s website.
List of Supplementary Information Tables
Electronic supplementary information tables listed in the 2011–12 Departmental Performance Report can be found on the Treasury Board of Canada Secretariat’s website.
- Greening Government Operations
- Response to Parliamentary Committees and External Audits
- Internal Audits and Evaluations
- Sources of Respendable and Non-Respendable Revenue
- User Fees/External Fees
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