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Section III: Supplementary Information

Financial highlights


($ thousands)
Condensed statement of financial position
At end of year (March 31, 2009)
% change 2009 2008
Assets      
Total assets 13.4% 430,970 373,069
Total 13.4% 430,970 373,069
Liabilities      
Total liabilities 30.6% 641,971 445,653
Equity      
Total equity 65.6% 211,001 72,584
Total 13.4% 430,970 373,069

 


($ thousands)
Condensed statement of financial position
At end of year (March 31, 2009)
% change 2009 2008
Expenses      
Total expenses 14.2% 3,480,700 2,986,274
Revenues      
Total revenues 48.6% 206,667 106,126
Net cost of operations 12.0% 3,274,033 2,880,148

Assets
Total assets have increased by $57 million due to an increase of $84 million in prepaid contributions using pool funding payments and a program-based approach, a return of capital of $9.6 million from the Canada Investment Fund for Africa, and decreases of $16.8 million in net loans mostly due to reimbursements and variations in discounts and allowances on these loans.

Liabilities
Total liabilities have increased by $196 million, largely explained by the significant amount of funding that CIDA received two days prior to year-end through Supplementary Estimates C, thereby contributing to the increase in accounts payable and accrued liabilities of $269 million; the decrease in accrued liabilities of $59 million due to the numerous payments made throughout the year to settle liabilities relating to the 2004 tsunami and Pakistan matching funds programs; and by a decrease of $19 million in notes payable to International Financial Institutions (IFI) due to the timing of transactions following an agreement.

Expenses
Total expenses have increased by $494 million, primarily due to an increase in transfer payments spending for food aid and humanitarian assistance in multilateral and global partnerships, more focus on Africa spending, as well as increased spending in the Americas (Haiti) and on Afghanistan programs.

Revenues
The increase of $101 million in revenues can be mainly explained by an increase of $74 million in the gain on foreign exchange for revaluation of notes payable yet to be encashed by IFIs as well as on allowances on advances and investments, and by an adjustment of $24 million to the unamortized discount on loans due to a review of the calculations related to the net present value of loans to developing countries undertaken in 20082009.

Financial statements

The complete financial statements54 are available on CIDA's website.

Financial highlights charts

As indicated on page 3 above, CIDA's expenses are distributed against the following five program activities:

Expenses by program activity 2008-2009

The vast majority of CIDA's expenses take the form of transfer payments for a wide variety of programs aimed at reducing poverty in the developing world.

Expenses by category 2008-2009

CIDA's programs can be divided in the following seven sectors of focus:

CIDA program aid disbursements by sector of focus ($ millions) 2008-2009

Notes:

  • in millions of dollars, excluding administrative costs ($250.80 million) and loss on investments ($163.27 million)
  • "Other" includes higher education, promotion of development awareness, support to civil society

In 20082009, CIDA bilateral disbursements were distributed as follows:

CIDA bilaterial aid disbursements by region ($ million) 2008-2009

Notes:

  • " bilateral " excludes core funding to multilateral organizations
  • in millions of dollars, excluding administrative costs ($250.80 million) and loss on investments ($163.27 million)

More details on disbursements by sectors and countries are available in CIDA's statistical reports.55 A statistical report for 20082009 will be published by the end of March 2010.