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3 Additional Information

3.1 Financial highlights

The financial highlights presented in this report are intended to provide a general overview of the Agency’s operations and financial situation. The detailed financial statements for 2007-2008 can be found on the Agency Website.49

The additional information presented in the previous financial tables was prepared on a cash basis and in the following financial statements on an accrual basis, with tables reconciling these two accounting methods also presented.


Financial Highlights
(in thousands of dollars) Percentage variance 2008 2007
For the period ending March 31: Summary of financial situation      
Assets      
Total assets - 3 % 156,476 160,849
TOTAL - 3 % 156,476 160,849
       
Liabilities      
Total liabilities1 122 % 93,087 41,852
Equity      
Total equity - 47 % 63,389 118,997
TOTAL - 3 % 156,476 160,849
       
For the period ending March 31: Summary of results      
Expenditures      
Total expenditures - 6 % 312,662 332,374
Revenue      
Total revenues2 - 55 % 669 1,497
Net operating costs - 6 % 311,993 330,877

Notes :
1 The increase in liabilities is primarily attributable to year-end payables ($30.1 million at March 31, 2007, and $66.2 million at March 31, 2008).
2 Revenue is primarily composed of revenues from interest. At March 31, 2007, the level of revenues was higher than the normal average.
Assets
Assets are broken down into four items. The breakdown is as follows: (i) Loans (98%); (ii) Capital assets (1%); (iii) Accounts receivable and advances (1%); and (iv) Prepaid expenses (0%).
  • Total assets of $156 million at the close of 2007-2008
  • Down 3% from 2006-2007
  • Loans account for 98% of the Agency’s assets, or $153 million
  • Accounts receivable represent 0.64% and tangible capital assets 1.36% of the total assets of the Agency
Liabilities
Liabilities are broken down into three items. The breakdown is as follows: (i) Accounts payable and accrued liabilities (91%); (ii) Vacation pay and compensatory leave (2%); and (iii) Severance benefits (7%).
  • Total liabilities of $93 million at the close of 2007-2008, up 122% over 2006-2007
  • Payables of $85 million, vacation pay $2 million and compensatory leave $6 million
  • At $85 million, accounts payable represent the largest share (91%) of liabilities
  • Revenues are entered at the time of billing of interest and repayments above 100%
Sales – Revenue
Revenues are broken down into the five program activities. The breakdown is as follows: (i) Competitiveness of enterprises (SMEs) (75%); (ii) Competitive positioning of regions (0%); (iii) Development of communities (25%); (iv) Infrastructure (0%); and (v) Policies, programs and initiatives (0%).
  • Revenues composed primarily of interest ($497,000)
  • Total sales revenues of $669,000



Expenses

Expenses are broken down into the five program activities. The breakdown is as follows: (i) Competitiveness of enterprises (SMEs) (12%); (ii) Competitive positioning of regions (15%); (iii) Development of communities (54%); (iv) Infrastructure (16%); and (v) Policies, programs and initiatives (3%).
  • Total expenses of $313 million in 2007-2008
  • The majority of funds, or $170 million, used for development of Canada’s communities
  • $50 million for Infrastructure
  • $47 million for Competitive positioning of regions
  • $36 million for Competitiveness of enterprises (SMEs)
  • $10 million for Policies, programs and initiatives

3.2 Tables in electronic format posted on the Treasury Board Secretariat Website

The following tables can be found on the TBS Website: www.tbs-sct.gc.ca/dpr-rmr/st-ts-eng.asp

Table 4: Sources of non-respendable revenue

Illustrates revenue and provides an historical perspective. Revenue consists primarily of repayments of the repayable contributions awarded by the Agency.

Table 6A: User Fees Act

Lists all of the user fees.

Table 6B: Policy on service standards for external fees

In line with the Policy on service standards for external fees, the table presents the latest performance results and main events or plans regarding stakeholder consultation.

Table 9: Details on transfer payment programs

Reports on transfer payment program (TPP) performance in relation to the commitments and expected outcomes identified in the 2007-2008 RPP for transfers exceeding $5 million.

Table 12: Sustainable Development Strategy

Presents the state of advancement of commitments made since implementation of the SDD and expected departmental outcomes as stated in the 2007-2008 RPP.

Table 13: Response to parliamentary committees, audits and evaluations

Provides a list of responses to parliamentary committee reports, reports of the Auditor General of Canada and external audit reports concerning the Agency’s activities in 2007-2008.

Table 14: Internal audits and evaluations

Lists all of the internal evaluations and audits conducted, with hyperlinks to their reports.

3.3 Other topics of interest

Promoter satisfaction

Performance results on promoter satisfaction regarding Agency services.

The table can be found on the Agency Website:
www.dec-ced.gc.ca/eng/publications/agency/rmr.html

4 Appendices

The appendices can be found on the Agency Website: www.dec-ced.gc.ca/eng/publications/agency/rmr.html

Appendix 1: List of the seven regions and 21 devitalized RCMs
Appendix 2: Agency performance measurement methodology
Appendix 3: Technical notes on result tables
Appendix 4: List of acronyms
Appendix 5: Agency business offices
Appendix 6: Resource-person and statute administered


1 See Appendix 1 for the list of seven devitalized regions and 21 devitalized RCMs: www.dec-ced.gc.ca/asp/Publications/Doc_pub_agence.asp?LANG=EN#RMR2

2 www.tbs-sct.gc.ca/est-pre/20072008/me-bd/pub/ME-002_e.asp

3 This information shows whether 2007-2008 efforts were consistent with established priorities. Given that the Program Activity Architecture covers a wide range of types of intervention, it is important that the Agency make judicious choices regarding investment targets. The variation in budget intensity indicator measures the Agency’s capacity for exercising its mandate according to the priorities it has set. Its calculation is based on the difference between the strategic outcome’s total share of actual spending in 2007-2008 versus its total share of actual spending in 2006-2007. Total spending excludes the Infrastructure program activity.

4 The leverage effect is obtained by dividing total cost of projects (at approval) by total funding authorized by the Agency.

5 See Appendix 1 for the list of seven devitalized regions and 21 devitalized RCMs: www.dec-ced.gc.ca/asp/Publications/Doc_pub_agence.asp?LANG=EN#RMR2

6 Actual spending may include expenditures in the seven regions and 21 RCMs under the Competitiveness of SMEs and regions strategic outcome.

7 Total spending includes operating expenditures and grants and contributions spending.

8 See Section 2 for detailed information on the results obtained.

9 Section 2 makes the link with Government of Canada performance - www.tbs-sct.gc.ca/report/govrev/06/cp-rc04-eng.asp. The Agency targets the economic diversification of Quebec’s devitalized regions and the sectoral competitiveness of SMEs and regions in order to bring about improved quality of life and a higher standard of living for Canadians.

10 The $51.5 million variance between planned ($100.1 million) and actual ($48.6 million) spending is attributable to the carry-over of promoters’ expense claims to the following year.

11 The Canadian Apparel and Textiles Program (CANtex) used to be considered a special intervention measure. In 2007-2008, the Agency recorded its interventions under this program ($8 million) under Competitiveness of enterprises (SMEs).

12 This information shows whether 2007-2008 efforts were consistent with established priorities. Given that the Program Activity Architecture covers a wide range of types of intervention, it is important that the Agency make judicious choices regarding investment targets. The variation in budget intensity indicator therefore measures the Agency’s capacity for exercising its mandate according to the priorities it has set. Its calculation is based on the difference between the strategic outcome’s total share of actual spending in 2007-2008 versus its total share of actual spending in 2006-2007. Total spending excludes the Infrastructure program activity.

13 The leverage effect is obtained by dividing total cost of projects (at approval) by total funding authorized by the Agency.

14 Total spending includes operating expenditures and grants and contributions spending.

15 See Section 2 for detailed information on the results obtained.

16 Section 2 makes the link with Government of Canada performance - www.tbs-sct.gc.ca/report/govrev/06/cprc04-eng.asp. The Agency targets the economic diversification of Quebec’s devitalized regions and the sectoral competitiveness of SMEs and regions in order to bring about improved quality of life and a higher standard of living for Canadians.

17 This information shows whether 2007-2008 efforts were consistent with established priorities. Given that the Program Activity Architecture covers a wide range of types of intervention, it is important that the Agency make judicious choices regarding investment targets. The variation in budget intensity indicator measures the Agency’s capacity for exercising its mandate according to the priorities it has set. Its calculation is based on the difference between the strategic outcome’s total share of actual spending in 2007-2008 versus its total share of actual spending in 2006-2007. Total spending excludes the Infrastructure program.

18 Total spending includes operating expenditures and grants and contributions spending.

19 See Section 2 for detailed information on the results obtained.

20 Section 2 makes the link with Government of Canada performance - www.tbs-sct.gc.ca/report/govrev/06/cprc04-eng.asp. The Agency targets the economic diversification of Quebec’s devitalized regions and the sectoral competitiveness of SMEs and regions in order to bring about improved quality of life and a higher standard of living for Canadians.

21 www.dec-ced.gc.ca/asp/Publications/Doc_pub_agence.asp?
LANG=EN&SEL_MENU=PUB_AGE& FICHIER_RETOUR=doc_pub_agence.asp

22 To view the Management Accountability Framework: www.tbs-sct.gc.ca/maf-crg/index_e.asp

23 www.tbs-sct.gc.ca/est-pre/20072008/me-bd/pub/ME-002_e.asp

24 These amounts exclude the Infrastructure program activity, the results of which are presented in Section 2.1.2.

25 This information shows whether 2007-2008 efforts were consistent with established priorities. See Appendix 3: www.dec-ced.gc.ca/asp/Publications/Doc_pub_agence.asp?LANG=EN#RMR2

26 Excludes jobs created and maintained through the CFP.

27 www.dec-ced.gc.ca/asp/Publications/Doc_pub_agence.asp?LANG=EN#RMR2

28 www.dec-ced.gc.ca/asp/Publications/Doc_pub_agence.asp?LANG=EN#RMR2

29 See Appendix 1 for the list of seven devitalized regions and 21 devitalized RCMs: www.dec-ced.gc.ca/asp/Publications/Doc_pub_agence.asp?LANG=EN#RMR2

30 This amount excludes operating costs.

31 www.dec-ced.gc.ca/asp/Publications/Doc_pub_agence.asp?
LANG=EN&SEL_MENU=PUB_AGE& FICHIER_RETOUR=doc_pub_agence.asp

32 www.dec-ced.gc.ca/asp/SalleNouvelles/communiques.asp?
LANG=EN&TYPE_COMM=COMM&PRESS_ RELEASE_ID=4778

33 Info entrepreneurs and Resources Entreprises satellite centres.

34 This average excludes jobs created or maintained through NPOs. See Appendix 3 for the methodology used in this calculation: www.dec-ced.gc.ca/asp/Publications/Doc_pub_agence.asp?LANG=EN#RMR2

35 A Canada-Quebec Agreement concerning Infrastructure programs.

36 www.infrastructure.gc.ca/index_e.shtml

37 Number of projects not completed as of March 31, 2008.

38 Benefits from the 896 projects approved since implementation of the ICP.

39 This information shows whether 2007-2008 efforts were consistent with established priorities. See Appendix 3: www.dec-ced.gc.ca/asp/Publications/Doc_pub_agence.asp?LANG=EN#RMR2

40 Study of eight incubators funded by the Agency.

41 The Canadian Apparel and Textiles Program (CANtex) used to be considered a special intervention measure. In 2007-2008, the Agency transferred the 10 FTEs under this program to Competitiveness of enterprises (SMEs).

42 www.dec-ced.gc.ca/asp/Publications/Doc_pub_agence.asp?LANG=EN#RMR2

43 Includes ORPEXs.

44 www.dec-ced.gc.ca/asp/Publications/Doc_pub_agence.asp?
LANG=EN&SEL_MENU=PUB_AGE&FICHIER_ RETOUR=doc_pub_agence.asp

45 Taux de survie des nouvelles entreprises au Québec, 2008 Edition. Direction de l’analyse économique, Direction générale des politiques et des sociétés d’État, Ministère du Développement économique, de l’Innovation et de l’Exportation du Québec (MDEIE), May 2008.

46 This information shows whether 2007-2008 efforts were consistent with established priorities. See Appendix 3: www.dec-ced.gc.ca/asp/Publications/Doc_pub_agence.asp?LANG=EN#RMR2

47 The international organizations include: Finance Alliance for Sustainable Trade, the International Federation of Interior Architect and Designers and the Global Campaign on Climate.

48 This information shows whether 2007-2008 efforts were consistent with established priorities. If the rate is up, for example, it means the Agency invested more in this component. Its calculation is based on the difference between the strategic outcome’s total share of actual spending in 2007-2008 versus its total share of actual spending in 2006-2007. Total spending excludes the Infrastructure program activity.

49 www.dec-ced.gc.ca/asp/Publications/Doc_pub_agence.asp?LANG=EN#RMR2