Policy Application and Accounting Issues
Prepared in Collaboration
Public Works and Government Services Canada and
Treasury Board Secretariat
Draft December 1997
TABLE OF CONTENTS
1000 Foreword
2000 What is a revolving fund?
2100 Special operating agencies that use a revolving fund
3000 Financing a revolving fund
3100 Measuring the performance of a revolving fund
4000 Establishing a revolving fund
4100 Criteria 4200 Authorities required 4210 Authority to spend revenue 4220 Authority to drawdown 4230 Authority to charge fees 4240 Special considerations related to rights, privileges and intellectual property 4300 Business plan 4310 Executive summary 4320 Mandate statement 4330 Planning assumptions 4340 Operating environment 4350 Objectives, strategies and action plans by business line 4360 Performance measures and targets 4370 Reporting requirements 4400 Operational environment 4410 Continuous requirements 4500 Opening entries on specific items of the revolving fund Authority
5000 Financial statements
5100 Balance sheet 5200 Statement of operations 5300 Accumulated surplus/deficit 5400 Statement of changes in financial position 5500 Notes to the financial statements 5600 Other financial statements
6000 Specific items
6010 Accountable advances, petty cash and standing advances 6020 Accounts receivable 6030 Inventories 6040 Prepaid expenses 6050 Capital assets 6100 Accounts payable and accrued liabilities 6110 Unused annual leave 6120 Holdback payable 6130 Employee benefit plans
(EBP) 6140 Termination benefits 6150 Revenue collected in advance 6160 Contributed capital 6170 Accumulated net charge against the fund's authority
(ANCAFA) 6180 Accumulated surplus/deficit 6200 Cost of sales 6240 Amortization 6260 Gain or loss on disposal of capital assets 6270 Interest expense on drawdown 6290 Extraordinary items 6300 Goods and Services Tax
(GST) 6320 Common service costs 6330 Subsidies 6340 Refunds of revenues collected in previous year 6380 Accounting changes and prior period adjustments 6390 Year-end adjustments for refunds of prior year expenditures and Payable At Year End
(PAYE) 6400 Bid deposits
7000 Specialized areas
7010 Cost allocation method 7020 Accounting system 7030 Public accounts 7040 Audit 7050 Winding up a revolving fund 7060 Merger of a revolving fund 7070 Control of the statutory drawdown authority 7080 Preparation of Estimates 7090 Performance bonds 7100 Year-end reconciliation
8000 Appendices
8100 Appendix A — Division of responsibilities and authority established by the
Treasury Board 8200 Appendix B — Abbreviations in this guide 8300 Appendix C — References
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