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Departmental Performance Report: 5
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Section V: Financial Performance
Financial Performance Overview
This section provides a summary of the Department of Finance Canada's financial performance, which is reported against three separate programs and eight business lines in accordance with the approved Planning, Reporting and Accountability Structure.
The tables included in this section show a comparison of three amounts: Planned, Total Authorities and Actual. The Planned column is the amount included in the department's Report on Plans and Priorities for 1998-99 and represents what the plan was at the beginning of the year. Total Authorities include Main, Supplementary and other Estimate amounts approved by Parliament to reflect changing priorities and unforeseen events. Actual shows what was actually spent.
The following Financial Tables apply to the Department of Finance Canada:
Table 1: Summary of Voted Appropriations
Table 2: Comparison of Total Planned to Actual Spending
Table 3: Historical Comparison of Total Planned to Actual Spending
Table 5: Resource Requirements by Organization and Business Line
Table 6: Respendable Revenues
Table 7: Non-Respendable Revenues
Table 8: Statutory Payments
Table 9: Transfer Payments
Table 13: Loans, Investments and Advances
Table 15: Contingent Liabilities
Financial Table 1: Summary of Voted Appropriations
Authorities for 1998–99
| Financial Requirements by Authority (millions of dollars) | ||||
Vote |
1998–99 Planned Spending |
1998–99 Total Authorities |
1998–99 |
|
|---|---|---|---|---|
|
Economic, Social and Financial Policies Program |
||||
1 |
Program expenditures | 70.8 | 77.1 | 66.3 |
5 |
Grants and contributions | 281.2 | 281.2 | 268.6 |
(S) |
Canada Millennium Scholarship Foundation | – | 2,500.0 | 2,500.0 |
(S) |
Minister of Finance - Salary and motor car allowance1 | 0.0 | 0.0 | 0.0 |
(S) |
Payments to International Development Association | 267.0 | 267.0 | 267.0 |
(S) |
Payments to the International Monetary Fund's Enhanced Structural Adjustment Facility | 50.2 |
296.3 |
98.8 |
(S) |
Contributions to employee benefit plans | 8.7 | 9.1 | 9.1 |
(S) |
Purchase of Domestic Coinage | 38.0 | 59.7 | 59.7 |
(S) |
Payments of liabilities previously transferred to revenues | – | 1.1 | 1.1 |
(S) |
Refunds of amounts credited to revenues in previous years2 | – | 0.0 | 0.0 |
(S) |
Spending of proceeds from the disposal of surplus Crown assets3 | – |
0.0 |
– |
(S) |
Adjustment to the Accounts of Canada | – | 53.7 | 53.7 |
(S) |
Payments to depositors of Canadian Commercial Bank,CCB Mortgage Investment Corporation and Northland Bank pursuant to the Financial Institutions Depositors Compensation Act | - | 69.0 | 0.4 |
|
|
||||
| Total Budgetary | 716.0 | 3,614.3 | 3,324.8 | |
L10 |
Issuance of demand notes to the International Development Association | – | 195.2 | 195.2 |
(S) |
Payments to the European Bank for Reconstruction and Development | 9.1 | 7.0 | 7.0 |
(S) |
Issuance of Loans to the International Monetary Fund's Enhanced Structural Adjustment Facility | 119.0 | 298.1 | 50.9 |
(S) |
Advances for loans to, or purchase of, preferred shares in Petro-Canada Limited pursuant to the Petro-Canada Limited Act | – | 27.2 | – |
(S) |
Subscriptions for common shares of Petro-Canada Limited pursuant to the Petro-Canada Limited Act | – | 1,573.6 | – |
L25 |
Payments in respect of Canada's equity interest in the Hibernia Project | 12.0 | 12.0 | 11.7 |
L11a |
Issuance of a demand note to the European Bank for Reconstruction and Development | – | 7.3 | – |
L11b |
Payment to the European Bank for Reconstruction and Development | – | 9.1 | – |
(S) |
Financial assistance to the Bank of Thailand | – | 598.4 | 598.4 |
(S) |
Payment to the Canadian Commercial Bank pursuant to the Canadian Commercial Bank Financial Assistance Act | – | 2.0 | – |
|
|
||||
| Total Non-Budgetary | 140.1 | 2,729.8 | 863.1 | |
|
|
||||
| Total Program | 856.0 | 6,344.1 | 4,187.9 | |
| Public Debt Program | ||||
(S) |
Interest and Other Costs | 43,500.0 | 44,831.7 | 44,831.7 |
|
|
||||
| Total Program | 43,500.0 | 44,831.7 | 44,831.7 | |
| Federal-Provincial Transfers Program | ||||
15 |
Transfer Payments to the Territorial Governments | 1,134.0 | 1,339.0 | 1,324.7 |
20 |
Grant to the Province of Newfoundland and Labrador | 40.0 | 40.0 | 40.0 |
(S) |
Statutory Subsidies | 30.0 | 29.9 | 29.9 |
(S) |
Fiscal Equalization | 8,482.0 | 10,766.4 | 10,766.4 |
(S) |
Canada Health and Social Transfer* | 12,500.0 | 12,733.6 | 12,733.6 |
(S) |
Youth Allowances Recovery | (494.0) | (476.5) | (476.5) |
(S) |
Alternative Payments for Standing Programs | (2,241.0) | (2,149.7) | (2,149.7) |
(S) |
Public Utilities Income Tax Transfer | – | 3.3 | 3.3 |
|
|
||||
| Total Program | 19,451.0 | 22,285.9 | 22,271.7 | |
|
|
||||
| Total Department | 63,807.0 | 73,461.7 | 71,291.3 | |
|
|
The following figures are in dollars.
1 Planned Spending: $48,645; Total Authorities: $49,978; Actual: $49,978
2 Total Authorities: $25,300; Actual: $25,300
3 Total Authorities: $28,886
Total Authorities are Main plus Supplementary Estimates plus other authorities.
* Amounts shown are the cash contribution authorized by Part V of the Federal-Provincial Fiscal Arrangements Act. The following figures show the total federal contribution in respect of the Canada Health and Social Transfer (CHST) including the tax portion of the transfer:
Plus Tax Transfers $13.5 billion
Total $26.2 billion
Financial Table 2: Comparison of Total Planned to Actual Spending
Departmental Planned versus Actual Spending by Business Line (millions of dollars)
Business Line |
FTEs |
Operating1 |
Grants, Contributions |
Statutory Payments |
Loans, Investments |
Total Gross Expenditures |
Less: Respendable |
Total Net Expenditures |
|---|---|---|---|---|---|---|---|---|
| Policies and Advice | 491 | 48.0 | 48.0 | 0.7 | 47.3 | |||
|
(Total Authorities) |
476 | 51.7 | 51.7 | 0.7 | 51.0 | |||
|
(Actuals) |
423 | 47.6 | 47.6 | 0.6 | 47.0 | |||
| Int'l Financial Organizations | 281.2 | 445.3 |
726.5 | 726.5 | ||||
|
(Total Authorities) |
281.2 | 1,466.6 | 211.5 | 1,959.4 | 1,959.4 | |||
| (Actuals) |
268.6 | 1,022.0 | 195.2 | 1,485.8 | 1,485.8 | |||
| Domestic Coinage | 38.0 |
38.0 | 38.0 | |||||
|
(Total Authorities) |
59.7 | 59.7 | 59.7 | |||||
| (Actuals) |
59.7 | 59.7 | 59.7 | |||||
| Corporate Administration2 | 215 | 37.2 | 37.2 | 4.9 | 32.3 | |||
| (Total Authorities) |
217 | 40.6 | 40.6 | 5.3 | 35.2 | |||
|
(Actuals) |
213 | 34.1 | 34.1 | 5.7 | 28.5 | |||
| Special Projects | 12.0 | 12.0 | 12.0 | |||||
|
(Total Authorities) |
4,225.6 | 12.0 | 4,237.6 | 4,237.6 | ||||
| (Actuals) |
2,554.2 | 11.7 | 2,565.8 | 2,565.8 | ||||
| Interest and Other Costs | 43,359.0 |
43,359.0 | 43,359.0 | |||||
|
(Total Authorities) |
44,694.3 | 44,694.3 | 44,694.3 | |||||
| (Actuals) |
44,694.3 | 44,694.3 | 44,694.3 | |||||
| Canada Investment and Savings | 141.0 |
141.0 | 141.0 | |||||
|
(Total Authorities) |
137.4 | 137.4 | 137.4 | |||||
| (Actuals) |
137.4 | 137.4 | 137.4 | |||||
| Federal-Provincial Transfer Payments (cash portion) | 1,174.0 | 18,277.0 |
19,451.0 | 19,451.0 | ||||
|
(Total Authorities) |
1,379.0 | 20,906.9 | 22,285.9 | 22,285.9 | ||||
| (Actuals) |
1,364.7 | 20,906.9 | 22,271.7 | 22,271.7 | ||||
| | ||||||||
| Total | 706 | 85.2 | 1,455.2 | 62,260.3 |
12.0 | 63,812.7 | 5.6 | 63,807.0 |
|
(Total Authorities) |
693 | 92.3 | 1,660.2 | 71,490.5 | 223.5 | 73,466.5 | 6.0 | 73,460.5 |
| (Actuals) |
636 | 81.7 | 1,633.4 | 69,374.4 | 206.8 | 71,296.4 | 6.3 | 71,290.13 |
| Other Revenues and Expenditures | ||||||||
| Non-Respendable |
(99.0) | |||||||
|
(Total Authorities) |
||||||||
|
(Actuals) |
(4,174.0)4 | |||||||
| Cost of services provided by other departments | 9.0 | |||||||
|
(Total Authorities) |
||||||||
|
(Actuals) |
9.2 | |||||||
|
Net Cost of the Program |
63,717.1 | |||||||
|
(Total Authorities) |
73,460.5 | |||||||
|
(Actuals) |
67,125.3 | |||||||
Note: Numbers in regular font denote planned expenditures/revenues for 1998–99.
Numbers in italics denote Total Authorities for 1998–99 (Main and Supplementary Estimates and other authorities).
Bolded numbers
denote actual expenditures/revenues in 1998–99.Due to rounding, figures may not add to totals shown.
* These revenues were formerly called ‘Revenues Credited to the Vote'
** These revenues were formerly called ‘Revenues Credited to the CRF'
1
Operating includes contributions to employee benefit plans and Minister's salary and car allowance.2 Total Authorities and Actual Corporate Administration expenditures exclude an amount of $1.2 million for statutory items.
3 Actual expenditures were approximately $7.4 billion higher than planned. This can be attributed, primarily, to higher than anticipated transfer payments of $2.8 billion, payment to the Canada Millennium Scholarship Foundation of $2.5 billion, higher than anticipated public debt interest costs of $1.3 billion and higher than expected costs in International Financial Organizations of $0.8 billion.
4 Revenues consist of Bank of Canada and Exchange Fund profits, proceeds from sales of Domestic Coinage and other related revenue items.
Financial Table 3: Historical Comparison of Total Planned to Actual Spending
|
Departmental Planned versus Actual Spending by Business Line (millions of dollars) |
||||||
|---|---|---|---|---|---|---|
|
Business Lines |
1996–97 | 1997–98 |
1998–99 Planned Spending | 1998–99 |
1998–99 | |
| Policies and Advice | 33.6 | 40.1 |
47.3 | 51.0 | 47.0 | |
| International Financial Organizations | 937.3 | 836.3 |
726.5 | 1,959.4 | 1,485.8 | |
| Domestic Coinage | 69.8 | 29.8 |
38.0 | 59.7 | 59.7 | |
| Corporate Administration | 24.2 | 24.9 |
32.3 | 35.21 | 28.52 | |
| Special Projects | 1,015.5 | 53.9 |
12.0 | 4,237.6 | 2,565.8 | |
| Interest and Other Costs | 45,157.0 | 43,844.1 |
43,359.0 | 44,694.3 | 44,694.3 | |
| Canada Investment and Savings | 26.8 | 126.6 |
141.0 | 137.4 | 137.4 | |
| Federal-Provincial Transfer Payments (cash portion) | 22,408.8 | 19,731.7 |
19,451.0 | 22,285.9 | 22,271.7 | |
| | ||||||
| Total | 69,673.0 | 64,687.4 | 63,807.0 |
73,460.5 | 71,290.1 | |
Total Authorities are Main plus Supplementary Estimates plus other authorities.
1
Total Authorities exclude $1.2 million for statutory items, primarily for the payment of liabilities previously transferred to revenues, which are reported in Public Accounts, giving a total of $36.4 million for this business line.2
Total Actuals exclude $1.2 million for statutory items, primarily for the payment of liabilities previously transferred to revenues, which are reported in Public Accounts, giving a total of $29.7 million for this business line.Financial Table 4: Crosswalk Between Old Structure and New Structure
Table 4 is not applicable to the Department of Finance Canada.
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| Last Updated: 2004-05-13 |
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