Financial Statements 2013–2014 (Unaudited)

For the year ended March 31, 2014

Financial Statements 2013–2014 (Unaudited) (PDF Version, 163 kb)

Table of Contents

Statement of Management Responsibility Including Internal Control Over Financial Reporting

Statement of Financial Position (Unaudited)

Statement of Operations and Departmental Net Financial Position (Unaudited)

Statement of Change in Departmental Net Debt (Unaudited)

Statement of Cash Flows (Unaudited)

Notes to the Financial Statements (Unaudited)

Annex to the Statement of Management Responsibility

Statement of Management Responsibility Including Internal Control Over Financial Reporting

Responsibility for the integrity and objectivity of the accompanying financial statements for the year ended March 31, 2014, and all information contained in these statements rests with the management of the Canada School of Public Service (the School). These financial statements have been prepared by management using the Government's accounting policies, which are based on Canadian public sector accounting standards.

Management is responsible for the integrity and objectivity of the information in these financial statements. Some of the information in the financial statements is based on management's best estimates and judgement and gives due consideration to materiality. To fulfill its accounting and reporting responsibilities, management maintains a set of accounts that provides a centralized record of the School's financial transactions. Financial information submitted in the preparation of the Public Accounts of Canada and included in the School's Departmental Performance Report is consistent with these financial statements.

Management is also responsible for maintaining an effective system of internal control over financial reporting (ICFR) designed to provide reasonable assurance that financial information is reliable, that assets are safeguarded and that transactions are properly authorized and recorded in accordance with the Financial Administration Act, the Canada School of Public Service Act and other applicable legislation, regulations, authorities and policies.

Management seeks to ensure the objectivity and integrity of data in its financial statements through careful selection, training and development of qualified staff; through organizational arrangements that provide appropriate divisions of responsibility; through communication programs aimed at ensuring that regulations, policies, standards, and managerial authorities are understood throughout the School and through conducting an annual risk-based assessment of the effectiveness of the system of ICFR.

The system of ICFR is designed to mitigate risks to a reasonable level based on an ongoing process to identify key risks, to assess effectiveness of associated key controls and to make any necessary adjustments.

The School will be subject to periodic Core Control Audits performed by the Office of the Comptroller General and will use the results of such audits to adhere to the Treasury Board Policy on Internal Control.

In the interim, the School has undertaken a risk-based assessment of the system of ICFR for the year ended March 31, 2014, in accordance with the Treasury Board Policy on Internal Control. The results and action plan are summarized in the annex.

The financial statements of the School have not been audited.

Original signed by:
Linda Lizotte-MacPherson
Deputy Minister/President
Original signed by:
Danielle May-Cuconato
Vice-President, Chief Financial Officer and Head of Human Resources
Corporate Management and Registration Services Branch
Human Resources and Workplace Management Directorate
Ottawa, Canada
August 29, 2014

Statement of Financial Position (Unaudited)

Statement of Financial Position (Unaudited) as at March 31, 2014. Read down the first column for a list of liabilities, financial assets and non-financial assets. Read across to the right for the amounts in thousands of dollars for 2014 and 2013. The departmental net financial position is presented at the bottom of the table.
As at March 31
(in thousands of dollars)
2014 2013
Liabilities
Accounts payable and accrued liabilities (note 4) 6,827 7,331
Vacation pay and compensatory leave 2,629 2,836
Employee future benefits (note 5) 2,462 5,982
Other liabilities 35 9
Total liabilities 11,953 16,158
 
Financial assets
Due from the Consolidated Revenue Fund 5,674 6,095
Accounts receivable and advances (note 6) 1,187 1,906
Total financial assets 6,861 8,001
 
Departmental net debt 5,092 8,157
 
Non-financial assets
Prepaid expenses 375 274
Tangible capital assets (note 7) 2,796 3,617
Total non-financial assets 3,171 3,891
 
Departmental net financial position (1,921) (4,266)

Contractual obligations (note 8)

The accompanying notes form an integral part of the financial statements.

Original signed by:
Linda Lizotte-MacPherson
Deputy Minister/President
Original signed by:
Danielle May-Cuconato
Vice-President, Chief Financial Officer and Head of Human Resources
Corporate Management and Registration Services Branch
Human Resources and Workplace Management Directorate
Ottawa, Canada
August 29, 2014

Statement of Operations and Departmental Net Financial Position (Unaudited)

Statement of Operations and Departmental Net Financial Position (Unaudited) for the year ended March 31, 2014. Read down the first column for the expenses, revenues, and government funding and transfers. Read across to the right for the amounts in thousands of dollars for planned results 2014, and actual results for 2014 and 2013. The departmental net financial position at the beginning of year and end of year are presented at the bottom of the table.
For the year ended March 31
(in thousands of dollars)
Planned
Results
2014
2014 2013
Expenses
Foundational Learning 68,291 47,532 55,650
Organizational Leadership Development 11,437 9,063 9,822
Public Sector Management Innovation 7,581 9,367 10,985
Internal Services 24,960 30,437 34,402
Total expenses 112,269 96,399 110,859
 
Revenues
Sales of goods and services 50,000 41,086 46,771
Other revenues - 5 21
Total revenues 50,000 41,091 46,792
 
Net cost of operations before government funding and transfers62,26955,30864,067
 
Government funding and transfers
Net cash provided by Government 49,132 44,133 55,339
Change in due from Consolidated Revenue Fund (471) (421) (3,747)
Services provided without charge by other government departments (note 9) 14,806 13,941 14,395
Transfer of tangible capital assets from other government departments - - 16
Net cost (revenue) of operations after government funding and transfers (1,198) (2,345) (1,936)
 
Departmental net financial position – Beginning of year (1,624) (4,266) (6,202)
 
Departmental net financial position – End of year (426) (1,921) (4,266)

Segmented information (note 10)

The accompanying notes form an integral part of the financial statements.

Statement of Change in Departmental Net Debt (Unaudited)

Statement of Change in Departmental Net Debt (Unaudited) for the year ended March 31, 2014. Read down the first column for a list of changes. Read across to the right for the amounts in thousands of dollars for planned results for 2014 and actual results for 2014 and 2013. The departmental net debt at the beginning of year and end of year are presented at the bottom of the table.
For the year ended March 31
(in thousands of dollars)
Planned
Results
2014
2014 2013
Net cost (revenue) of operations after government funding and transfers (1,198) (2,345) (1,936)
 
Change due to tangible capital assets
Acquisition of tangible capital assets 1,111 973 584
Amortization of tangible capital assets (1,794) (1,794) (1,453)
Net loss on disposal of tangible capital assets, including adjustments - - (51)
Proceeds from disposal of tangible capital assets - - (9)
Transfer from other government departments - - 16
Total change due to tangible capital assets (683) (821) (913)
 
Change due to prepaid expenses - 101 227
 
Net decrease in departmental net debt (1,881) (3,065) (2,622)
 
Departmental net debt – Beginning of year 5,473 8,157 10,779
 
Departmental net debt – End of year 3,592 5,092 8,157

The accompanying notes form an integral part of the financial statements.

Statement of Cash Flows (Unaudited)

Statement of Cash Flows (Unaudited) for the year ended March 31, 2014. Read down the first column for the operating activities and capital investing activities. Read across to the right for the amounts in thousands of dollars for 2014 and 2013. Net cash provided by the Government of Canada is presented at the bottom of the table.
For the year ended March 31
(in thousands of dollars)
2014 2013
Operating activities
 
Net cost of operations before government funding and transfers 55,308 64,067
 
Non-cash items
Amortization of tangible capital assets (note 7) (1,794) (1,453)
Loss on disposal of tangible capital assets - (51)
Services provided without charge by other government departments (note 9) (13,941) (14,395)
 
Variations in Statement of Financial Position
Increase (decrease) in accounts receivable and accountable advances (719) 895
Increase in prepaid expenses 101 227
Decrease in accounts payable and accrued liabilities 504 4,924
Decrease in vacation pay and compensatory leave 207 169
Decrease in employee future benefits 3,520 379
Decrease (increase) in other liabilities (26) 2
Cash used in operating activities 43,160 54,764
 
Capital investing activities
 
Acquisitions of tangible capital assets (note 7) 973 584
Proceeds from disposal of tangible capital assets - (9)
Cash used in capital investing activities 973 575
 
Net cash provided by Government of Canada 44,133 55,339

The accompanying notes form an integral part of the financial statements.

Notes to the Financial Statements (Unaudited)

For the year ended March 31

1. Authority and objectives

On April 1, 2004, amendments to the Canadian Centre for Management Development Act were proclaimed and the organization was renamed the Canada School of Public Service (the School). The amended legislation, now entitled the Canada School of Public Service Act, continues and expands the mandate of the former organization as a departmental corporation. The School reports to the President of the Treasury Board.

The School has a single strategic outcome: "Public servants have the common knowledge and the leadership and management competencies they require to fulfill their responsibilities in serving Canadians." Four programs support this strategic outcome:

The School was created to ensure that all employees of the Public Service of Canada have the required competencies and common knowledge to serve Canadians in the most efficient and effective way possible. To achieve this goal, the School continues to offer a strong, consistent curriculum that focuses on the key skills and knowledge required by a dynamic public service that must constantly adapt to the needs of its stakeholders and Canadians.

2. Summary of significant accounting policies

These 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.

Significant accounting policies are as follows:

  1. (a)  Parliamentary authorities
    The School is financed primarily by the Government of Canada through Parliamentary authorities. Financial reporting of authorities provided to the School does not parallel financial reporting according to generally accepted accounting principles since authorities are primarily based on cash flow requirements. Consequently, items recognized in the Statement of Operations and Departmental Net Financial Position and in the Statement of Financial Position are not necessarily the same as those provided through authorities from Parliament. Note 3 provides a reconciliation between the bases of reporting. The planned results amounts in the Statement of Operations and Departmental Net Financial Position and the Statement of Change in Departmental Net Debt are the amounts reported in the future-oriented financial statements included in the 2013–2014 Report on Plans and Priorities.
  2. (b)  Net cash provided by Government
    The School operates within the Consolidated Revenue Fund (CRF), which is administered by the Receiver General for Canada. All cash received by the School is deposited to the CRF, and all cash disbursements made by the School 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. (c)  Due from or to the CRF
    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 the School is entitled to draw from the CRF without further authorities to discharge its liabilities.
  4. (d)  Revenues
    Revenues are accounted for in the period in which the underlying transaction or event occurred that gave rise to the revenues.
  5. (e)  Expenses
    Expenses are recorded on the accrual basis:
    • 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 and employer contributions to the health and dental insurance plans are recorded as operating expenses at their estimated cost.
  6. (f)  Employee future benefits
    • Pension benefits: Eligible employees participate in the Public Service Pension Plan, a multiemployer pension plan administered by the Government of Canada. The School's contributions to the Plan are charged to expenses in the year incurred and represent the total departmental obligation to the Plan. The School's responsibility with regard to the Plan is limited to its contributions. Actuarial surpluses or deficiencies are recognized in the financial statements of the Government of Canada, as the Plan's sponsor.
    • Severance benefits: Employees entitled to severance benefits under labour contracts or conditions of employment earn these benefits 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. (g)  Accounts receivable and advances
    Accounts receivable and advances are stated at the lower of cost or net recoverable value. A valuation allowance is recorded for receivables where recovery is considered uncertain.
  8. (h)  Tangible capital assets
    All tangible capital assets and leasehold improvements having an initial cost of $5,000 or more are recorded at their acquisition cost. The School 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 calculated on a straight-line basis over the estimated useful life of the assets as follows:

    Note 2 - Summary of significant accounting policies. (h) Tangible capital assets. Amortization periods for tangible capital assets based on a straight-line basis over the estimated useful life of the assets. Read down the first column for the asset class, then to the right for the amortization period.
    Asset class Amortization period
    Machinery and Equipment 5-10 years
    Other Equipment (including furniture) 5-12 years
    Informatics Hardware 3-5 years
    Software (including developed software) 3-5 years
    Motor Vehicles 4 years
    Leasehold Improvements 2-10 years
    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. (i)  Measurement uncertainty
    The preparation of these financial statements requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses reported in the financial statements. At the time of preparation of these statements, management believes the estimates and assumptions to be reasonable. The most significant items where estimates are used are the allowance for doubtful accounts, the liability for employee future benefits and the useful life of tangible capital assets. Actual results could significantly differ from those estimated. Management's estimates are reviewed periodically, and as adjustments become necessary, they are recorded in the financial statements in the year they become known.

3. Parliamentary authorities

The School receives most of its funding through annual parliamentary authorities. Items recognized in the Statement of Operations and Departmental Net Financial Position and the Statement of Financial Position in one year may be funded through parliamentary authorities in prior, current or future years. Accordingly, the School 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:

  1. (a)  Reconciliation of net cost of operations to current year authorities used
    Note 3 - Parliamentary authorities. (a) Reconciliation of net cost of operations to current year authorities used. Read down the first column for the net cost of operations before government funding, transfers and adjustments. Read across to the right for the amounts, in thousands of dollars, for 2014 and 2013. Current year authorities used is presented at the bottom of the table.
    (in thousands of dollars) 2014 2013
    Net cost of operations before government funding and transfers 55,308 64,067
     
    Adjustments for items affecting net cost of operations but not affecting authorities
    Revenues 41,091 46,792
    Services provided without charge by other government departments (13,941) (14,395)
    Decrease in employee future benefits 3,520 379
    Amortization of tangible capital assets (1,794) (1,453)
    Loss on disposal of tangible capital assets - (51)
    Prior year adjustments 575 1,031
    Provision for vacation pay and compensatory leave 144 146
    Other (1,215) (62)
    Total adjustments for items affecting net cost of operations but not affecting authorities 28,380 32,387
     
    Adjustments for items not affecting net cost of operations but affecting authorities
    Acquisition of tangible capital assets (note 7) 973 584
    Increase in prepaid expenses 101 227
    Total adjustments for items not affecting net cost of operations but affecting authorities 1,074 811
     
    Current year authorities used 84,762 97,265
  2. (b)  Authorities provided and used
    Note 3 - Parliamentary authorities. (b) Authorities provided and used. Read down the first column for the authorities provided, lapsed and statutory authorities. Read across to the right for the amounts, in thousands of dollars, for 2014 and 2013. Current year authorities used is presented at the bottom of the table.
    (in thousands of dollars) 2014 2013
    Authorities provided
    Vote 40 – Program expenditures 45,980 51,793
    Less
    Lapsed authorities
     
    (3,159)
     
    (6,341)
    Total authorities used 42,821 45,452
     
    Statutory authorities
    Spending of revenues pursuant to subsection 18(2) of the Canada School of Public Service Act 33,245 42,003
    Contributions to employee benefits plan 8,683 9,809
    Spending of proceeds from the disposal of surplus Crown assets 13 1
    Total statutory authorities used 41,941 51,813
     
    Current year authorities used 84,762 97,265

4. Accounts payable and accrued liabilities

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

Note 4 - Accounts payable and accrued liabilities. Read down the first column for the accounts payable, ordered by category. Read across to the right for the amounts, in thousands of dollars, for 2014 and 2013.
(in thousands of dollars) 2014 2013
Accounts payable – Other government departments and agencies 3,309 4,396
Accounts payable – External parties 650 1,506
Total accounts payable 3,959 5,902
Accrued liabilities 2,868 1,429
Total accounts payable and accrued liabilities 6,827 7,331

5. Employee future benefits

  1. (a)  Pension benefits
    The School's employees participate in the Public Service Pension Plan, which is sponsored and administered by the Government of Canada. 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 the Canada/Québec Pension Plans benefits, and they are indexed to inflation.

    Both the employees and the School contribute to the cost of the Plan. Due to the amendment of the Public Service Superannuation Act following the implementation of provisions related to Economic Action Plan 2012, employee contributors have been divided into two groups — Group 1 consists of existing plan members as of December 31, 2012 and Group 2 consists of members joining the Plan as of January 1, 2013. Each group has a distinct contribution rate.

    The 2013–2014 expense amounts to $6.1 million ($7.0 million in 2012–2013). For Group 1 members, the expense represents approximately 1.6 times (1.7 times in 2012–2013) the employee contributions and, for Group 2 members, approximately 1.5 times (1.6 times in 2012–2013) the employee contributions.

    The School's responsibility with regard to the Plan is limited to its contributions. Actuarial surpluses or deficiencies are recognized in the financial statements of the Government of Canada, as the Plan's sponsor.
  2. (b)  Severance benefits
    The School 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.

    As part of 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 these employees commencing in fiscal year 2011–2012. 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 to 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 obligation. Information about the severance benefits, measured as at March 31, is as follows:
    Note 5 - Employee future benefits. (b) Severance benefits. Read down the first column for the benefits owing at the beginning of the year, expense for the year, the benefits paid during the year and the balance owing at the end of the year. Read across to the right for the amounts, in thousands of dollars, for 2014 and 2013.
    (in thousands of dollars) 2014 2013
    Accrued benefit obligation – beginning of year 5,982 6,361
    Expense for the year 143 5,167
    Benefits paid during the year (3,663) (5,546)
    Accrued benefit obligation – end of year 2,462 5,982

6. Accounts receivable and advances

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

Note 6 - Accounts receivable and advances. Read down the first column for the receivables and advances, ordered by category. Read across to the right for the amounts, in thousands of dollars, for 2014 and 2013.
(in thousands of dollars) 2014 2013
Receivables – Other government departments and agencies 426 1,304
Receivables – External parties 782 628
Employee advances 16 9
Subtotal 1,224 1,941
Allowance for doubtful accounts on receivables from external parties (37) (35)
Accounts receivable and advances 1,187 1,906

7. Tangible capital assets

Note 7 - Tangible capital assets. Cost. Read down the first column for the capital assets class. Read across to the right for the cost, in thousands of dollars, for the opening balance; acquisitions; adjustments; disposals and write-offs; and closing balance.
Capital asset class Cost
(in thousands of dollars)
Opening
balance
Acquisitions Adjustments Disposals
and write-offs
Closing
balance
Machinery and equipment 1,161 - - (30) 1,131
Other equipment
(including furniture)
161 6 - (11) 156
Informatics hardware 240 10 - - 250
Software
(including developed software)
7,546 37 1,005 - 8,588
Motor vehicles 25 26 - - 51
Leasehold improvements 658 20 297 - 975
Assets under construction 562 874 (1,302) - 134
Total 10,353 973 - (41) 11,285
Note 7 - Tangible capital assets. Accumulated amortization. Read down the first column for the capital assets class. Read across to the right for the accumulated amortization, in thousands of dollars, for the opening balance; amortization; adjustments; disposals and write-offs; and closing balance.
Capital asset class Accumulated amortization
(in thousands of dollars)
Opening
Balance
Amortization Adjustments Disposals and
write-offs
Closing
balance
Machinery and equipment 1,055 36 - (30) 1,061
Other equipment
(including furniture)
103 10 - (11) 102
Informatics hardware 119 43 - - 162
Software
(including developed software)
4,942 1,645 - - 6,587
Motor vehicles 11 5 - - 16
Leasehold improvements 506 55 - - 561
Assets under construction - - - - -
Total 6,736 1,794 - (41) 8,489
Note 7 - Tangible capital assets. Net book value. Read down the first column for the capital assets class. Read across to the right for the net book value, in thousands of dollars, for 2014 and 2013.
Capital asset class Net book value
(in thousands of dollars)
2014 2013
Machinery and equipment 70 106
Other equipment
(including furniture)
54 58
Informatics hardware 88 121
Software
(including developed software)
2,001 2,604
Motor vehicles 35 14
Leasehold improvements 414 152
Assets under construction 134 562
Total 2,796 3,617

The adjustments represent assets under construction of $1,302,000 that were transferred to the other categories upon completion of the assets.

8. Contractual obligations

The nature of the School's activities can result in some large multi-year contracts and obligations whereby the School will be obligated to make future payments when the services/goods are received. Significant contractual obligations that can be reasonably estimated are summarized as follows:

Note 8 - Contractual obligations. Read down the first column for the estimated contractual obligations for 2015 to 2019 and thereafter. Read across to the right for the amounts for operating leases (in thousands of dollars).
(in thousands of dollars) Operating
leases
2015 1,110
2016 344
2017 201
2018 72
2019 and thereafter 72
Total contractual obligations 1,799

9. Related party transactions

The School is related as a result of common ownership to all government departments, agencies, and Crown corporations. The School enters into transactions with these entities in the normal course of business and on normal trade terms.

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

    During the year, the School received services without charge from certain common service organizations related to accommodation and the employer's contribution to the health and dental insurance plans. These services provided without charge have been recorded in the School's Statement of Operations and Departmental Net Financial Position as follows:
    Note 9 - Related party transactions. (a) Common services provided without charge by other government departments. Read down the first column for the services listed by category. Read across to the right for the amounts, in thousands of dollars, for 2014 and 2013.
    (in thousands of dollars) 2014 2013
    Accommodation 9,403 9,073
    Employer's contribution to the health and dental insurance plans 4,538 5,322
    Total common services provided without charge from other government departments 13,941 14,395

    The Government has centralized some of its administrative activities for efficiency, cost-effectiveness 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 payroll and cheque issuance services provided by Public Works and Government Services Canada, are not included in the School's Statement of Operations and Departmental Net Financial Position.

  2. (b)  Other transactions with related parties

    Note 9 - Related party transactions. (b) Other transactions with related parties. Read down the first column for the expenses and revenues. Read across to the right for the amounts, in thousands of dollars, for 2014 and 2013.
    (in thousands of dollars) 2014 2013
    Expenses — Other government departments and agencies 20,576 20,199
    Revenues — Other government departments and agencies 39,464 45,594

    Expenses and revenues disclosed in (b) exclude common services provided without charge, which are already disclosed in (a).

10. Segmented information

Presentation by segment is based on the School's Program Alignment Architecture. The presentation by segment is based on the same accounting policies as described in the Summary of significant policies in note 2. The following table presents the expenses incurred and 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:

Note 10 - Segmented information. Expenses incurred and revenues generated based on the Program Alignment Architecture. Read down the first column for the operating expenses and revenues. Read across to the right for the amounts (in thousands of dollars) for foundational learning, organizational leadership development, public sector management innovation, internal services, and the totals for 2014 and 2013. The net cost of operations before government funding and transfers is presented in the last row of the table.
(in thousands of dollars) Foundational
Learning
Organizational
Leadership
Development
Public Sector
Management
Innovation
Internal
Services
2014 2013
Operating expenses
Salaries and employee benefits 32,206 6,486 6,859 19,142 64,693 73,455
Professional and special services 7,884 1,287 1,162 4,368 14,701 20,166
Rental of accommodation and equipment 5,098 999 1,053 4,126 11,276 11,099
Transportation and telecommunications 1,287 111 154 213 1,765 1,959
Utilities, materials and supplies 199 39 18 203 459 642
Small equipment and parts 378 48 52 349 827 933
Printing and publishing 441 28 68 89 626 847
Amortization of tangible capital assets 15 - - 1,779 1,794 1,453
Repair and maintenance 23 - - 67 90 85
Other operating expenses 1 65 1 101 168 169
Loss on disposal of tangible capital assets - - - - - 51
Total expenses 47,532 9,063 9,367 30,437 96,399 110,859
 
Revenues
Sales of goods and services 32,385 5,434 2,915 352 41,086 46,771
Other revenues - - - 5 5 21
Total revenues 32,385 5,434 2,915 357 41,091 46,792
 
Net cost of operations before government funding and transfers 15,147 3,629 6,452 30,080 55,308 64,067

Annex to the Statement of Management Responsibility

1. Introduction

In support of an effective system of internal control, the School annually assesses the performance of its financial controls to ensure that

The School will leverage the results of the periodic audit of core controls performed by the Office of the Comptroller General.

Below is a summary of the results of the self-assessment the School conducted during fiscal year 2013–2014.

2. Self-Assessment results for fiscal year 2013–2014

In 2013–2014 the School performed an assessment of key controls to confirm compliance with the Financial Administration Act:

The overall results of the self-assessment demonstrated that key controls are in place and working as intended with the exception of the following:

3. Assessment plan

The School has implemented measures to address the exception noted above.


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