ARCHIVED – National Energy Board – 2012-13 Departmental Performance Report – Section III: Supplementary Information
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Section III: Supplementary Information
Financial Statements Highlights
The National Energy Board operates on a full accrual accounting basis according to Treasury Board’s policy for reporting based on generally accepted accounting principles (GAAP). The tables below provide highlights from the NEB’s Statement of Operations and Departmental Net Financial Position and Statement of Financial Position, as presented in its 2012-13 financial statements. As such, differences do exist between these tables and those presented in other sections of the Departmental Performance Report, which are prepared on the modified cash basis of accounting.
| National Energy Board Condensed Statement of Operations and Departmental Net Financial Position (Unaudited) For the Year Ended March 31, 2013 ($ millions) |
|||||
|---|---|---|---|---|---|
| 2012–13 Planned Results (Restated)[a] |
2012-13 Actual |
2011-12 Actual |
$ Change (2012-13 Planned vs. Actual) |
$ Change (2012–13 Actual vs. 2011–12 Actual) |
|
| Total expenses | 72.0 | 77.0 | 72.1 | 5.0 | 4.9 |
| Total revenues | - | - | - | - | - |
| Net cost of operations before government funding and transfers | 72.0 | 77.0 | 72.1 | 3.0 | 4.9 |
| Departmental net financial position | 3.1 | 19.1 | [a] | (16.0) | |
| [a] The 2012-13 Planned Results have been restated to incorporate amendments made to Treasury Board Accounting 1.2 – Departmental and Agency Financial Statement. Departmental net financial position was not calculated for the 2012-13 RPP. Please refer to the complete set of 2012-13 Financial Statements for additional information. | |||||
Total expenses for 2012-13 have increased by approximately $5.0 million over the previous year. Budget 2012 included additional funding for the NEB to strengthen pipeline safety and expenditures in this area, which contributed to the increase in expenses from 2011-12 and is also the explanation for the variance between planned and actual spending.
The following graph presents NEB expenses by program.
Text description of this graph
NEB Expenses by Program
This pie chart shows the National Energy Board’s expenses by percentage and program:
- Energy Regulation: 67%
- Energy Information: 8%
- Internal Services: 25%
| National Energy Board Condensed Statement of Financial Position (Unaudited) As at March 31, 2013 ($ millions) |
|||
|---|---|---|---|
| 2012–13 | 2011–12 | $ Change | |
| Total net liabilities | 19.3 | 33.2 | (13.9) |
| Total net financial assets | 8.7 | 7.3 | 1.4 |
| Departmental net debt | 10.6 | 25.9 | (15.3) |
| Total non-financial assets | 7.5 | 6.8 | 0.7 |
| Departmental net financial position | (3.1) | (19.1) | 16.0 |
Total net liabilities have decreased by almost $14 million from 2011-12. This decrease is related to Other Payables which represents the year-end balance of levies collected from newly regulated parties under Section 5.2(1) of the National Energy Board Cost Recovery Regulations. In 2011-12 the balance of these levies was $15.7 million. This amount was offset against the 2012-13 billings of other regulated parties.
Financial Statements
The NEB’s Financial Statements can be found on the NEB’s website.
Supplementary Information Tables
- Greening Government Operations
- Internal Audits and Evaluations
- Response to Parliamentary Committees and External Audits
- Sources of Respendable and Non-Respendable Revenue
- User Fees Reporting
All electronic supplementary information tables listed in the 2012–13 Departmental Performance Report can be found on the National Energy Board’s website.
Tax Expenditures and Evaluations Report
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 publishes cost estimates and projections for these measures annually in the Tax Expenditures and Evaluations publication. The tax measures presented in the Tax Expenditures and Evaluations publication are the sole responsibility of the Minister of Finance.
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