ARCHIVED – National Energy Board – 2011-12 Departmental Performance Report – Section III: Supplementary Information

This page has been archived on the Web

Information identified as archived is provided for reference, research or recordkeeping purposes. It is not subject to the Government of Canada Web Standards and has not been altered or updated since it was archived. Please contact us to request a format other than those available.

Archived

This page has been archived on the Web.

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.



Condensed Statement of Financial Position (Unaudited)
As at March 31, 2012
($ millions)
  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)


Condensed Statement of Operations and Departmental Net Financial Position (Unaudited)
For the Year Ended March 31, 2012
($ millions)
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)

Non-respendable Revenues vs. Expenses
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.

 

Date modified: