ARCHIVED - Economic Development Agency of Canada for the Regions of Quebec - Report

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3 Additional information

3.1 Significant financial data

The financial highlights presented in this report are intended to provide a general overview of the Agency’s operations and financial situation. Detailed Financial Statements⁴⁰ are to be found on the Agency’s Web site.

The actual expenditures presented in the preceding tables were prepared on a cash basis, while the financial highlights that follow were prepared on an accrual basis. Tables reconciling these two accounting methods are presented in the Notes to the Agency’s Financial Statements.

Summary financial information as at March 31, 2010

(in thousands of dollars)	Percentage variance	2008–09	2009–10
Condensed statement of financial position for the period ending March 31, 2010
Assets
Total assets	13%	152,335	172,366
TOTAL	13%	152,335	172,366
Liabilities
Total liabilities41	67%	53,825	88,802
Equity
Total equity42	(16%)	98,510	83,564
TOTAL	13%	152,335	172,366
Condensed statement of financial operations for the period ending March 31, 2010
Expenditures
Total expenditures	31%	264,970	346,605
Revenue
Total revenues	9%	822	895
Net operating cost	31%	264,148	345,710

3.2 Financial highlights

For the period ending March 31, 2010

ASSETS

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3.3 List of additional tables

Table: Sources of Non-respendable Revenue

The table illustrates revenue and provides a historical perspective. Revenue consists primarily of repayments of the repayable contributions awarded by the Agency.

Table: Report on User Fees

The table presents user fee revenue and costs.

Table: Details of Transfer Payment Programs (TPPs)

The table illustrates the results of TPPs in relation to commitments and planned results as set out in the 2009-2010 RPP where the amount of the transfer exceeds $5 million.

Table: Green Procurement

The table summarizes the initiatives and results attained by the Agency with respect to the integration of environmental performance considerations in procurement decision-making processes. Green procurement goals and results attained are also presented.

Table: Response to Parliamentary Committees and to External Audits

The table lists responses given to Parliamentary Committee reports, Auditor General of Canada reports and external audits concerning Agency activities in 2009-2010.

Table: Internal Audits 2009-2010

The table lists internal audit reports.

Table: Evaluations 2009-2010

The table lists evaluation reports.

3.4 Appendices

Appendix 1: Results of the Agency’s annual customer satisfaction survey

Appendix 2: Agency performance measurement methodology

Appendix 3: Technical notes on performance data in the results tables

Appendix 4: List of acronyms

Appendix 5: Agency Business Offices

Appendix 6: Resource-person and statute administered

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Notes :

1 The Community Adjustment Fund, an initiative stemming from CEAP, is implemented through the Agency’s regular programs, Community Diversification and Business and Regional Growth.

2 In the 2009-2010 RPP, the Agency used the following three strategic outcomes:

• dynamic and revitalized communities that have a better socio-economic outlook and are developing their economic activity base
• presence of conditions conducive to sustainable growth and the competitive positioning of SMEs and regions
• policies, programs and cooperative actions that strengthen the economy of Quebec regions.

3 The Special infrastructure-dedicated programs program subactivity includes measures associated with CEAP, including the Recreational Infrastructure Canada program and the Contribution program to supply the Municipality of Shannon with drinking water.

4 The CAF comes under the Community adjustment to economic shocks program subactivity.

5 The leverage effect presented in this Report, as calculated by the Agency, compares financial assistance approved by the Agency with funding from the promoter and other funding sources. The leverage effect excludes funding associated with CEAP and the Infrastructure program activity.

6 Despite the economic context in 2009-2010, the Agency achieved a leverage effect comparable to the previous year. In 2008-2009, the leverage effect had been 2.64 for strategic outcome #1 and 2.71 for strategic outcome #2.

7 This result is taken from the Annual Customer Satisfaction Survey of the Economic Development Agency of Canada for the Regions of Quebec conducted by the Agency in winter 2010.

8 All the amounts presented in this table exclude services received without charge, except for the 2008-2009 actual expenditures column, where they represent $5.8 million. This affects the comparability of actual expenditures between 2008-2009 and 2009-2010.

9 Main Estimates are tabled in Parliament prior to the start of the fiscal year. Planned spending comprises the Main Estimates as well as additional authorities at the time of publication of the Report on Plans and Priorities. Total authorities therefore represent Main Estimates plus Supplementary Estimates for the year ending March 31, 2010. The Agency’s total actual expenditures must not exceed total authorities, but variations at the program activity level are possible.

10 For the 2009-2010 and subsequent Estimates cycles, resources allocated to Internal Services will be shown separately from those for other program activities, and will no longer be broken down among other program activities, as was the case in the latest Main Estimates. This change has an impact on the comparability of expenditures and information concerning FTEs for each program activity and fiscal year.

11 Priorities previously committed to are those established during the one or two fiscal years immediately prior to 2009-2010, whereas new priorities were established during 2009-2010.

12 In this Departmental Performance Report (DPR), a performance index is associated with each priority and with each performance indicator linked to program activities. The performance evaluation scale consists of the following levels: Exceeded expectations; Met all expectations; Mostly met expectations; Somewhat met expectations and Not met expectations and is defined by the Treasury Board of Canada Secretariat. The definitions are presented in Appendix 3 of the DPR: www.dec-ced.gc.ca/eng/publications/agency/rmr.html.

13 The amount of approved commitments excludes commitments associated with CEAP.

14 Idem

15 www.infoentrepreneurs.org/en/

16 www.ressourcesentreprises.org/Home.aspx

17 In the 2009-2010 RPP, no objective was identified for certain performance indicators, while objectives were set for most of the performance indicators presented in the 2010-2011 RPP.

18 The results presented concerning jobs created and maintained are taken from statements by promoters.

19 The results presented concerning tourism are taken from: Le tourisme en chiffres – Édition 2010 http://www.tourisme.gouv.qc.ca/publications/publication.php?id=209&categorie=50. They correspond to the latest results available on tourism, and cover 2008.

20 www.dec-ced.gc.ca/eng/programs/diversification/diversification.html

21 www.dec-ced.gc.ca/eng/programs/cfp/cfp.html

22 These performance data concern solely the Infrastructure Canada Program (ICP) and are associated with the agreement with the Government of Quebec. While all the objectives were attained prior to 2009-2010, it was deemed appropriate to present the ICP results, since the agreement terminates on March 31, 2011.

23 This was the Canada-Quebec Infrastructure Program Agreement: www.dec-ced.gc.ca/eng/programs/infrastructure/infrastructure.html

24 www.infc.gc.ca/infc-eng.html

25 www.dec-ced.gc.ca/eng/programs/infrastructure/ricpa.html

26 www.dec-ced.gc.ca/eng/programs/caf/caf.html

27 The decline in the number of strategic enterprises created or expanding, compared with 2008-2009, is attributable to the fact that in 2008-2009 the Agency funded an incubator involving a large number of projects. This incubator is now funded by the Agency under another component.

28 The results presented concerning job creation are taken from statements by promoters.

29 www.dec-ced.gc.ca/eng/programs/growth/growth.html

30 www.dec-ced.gc.ca/eng/agency/business-contact/contact.html

31 Investment in applied research projects includes investment from the Agency and other funding sources.

32 The results presented concerning jobs created and maintained in Quebec stemming from foreign direct investment are taken from: Montréal International, 2009 Activity Report: A winning partnership, p.8.

33 Ibid, p.13

34 Available on the CBOC Web site: www.conferenceboard.ca/ITIC/research.aspx

35 Available on the Metropolis Web site: im.metropolis.net/frameset_e.html

36 Available on the Université Laval Web site: www.rqsi.ulaval.ca/fr/bulletin.php

37 Presentations available on the Réseau de chercheurs Entrepreneuriat Web site: www.entrepreneuriat.auf.org/article.php3?id_article=187, and report available on the Research Institute for SMEs Web site: https://oraprdnt.uqtr.uquebec.ca/pls/public/gscw031?owa_no_site=862&owa_no_fiche=51&owa_apercu=N&owa_imprimable=N&owa_bottin=

38 www.dec-ced.gc.ca/eng/programs/forest/index.html

39 www.dec-ced.gc.ca/eng/programs/applying/cruise.html

40 www.dec-ced.gc.ca/eng/publications/agency/rmr.html

41 The increase in liabilities is primarily attributable to year-end payables ($54.5 million as at March 31, 2010 and $27.4 million as at March 31, 2009).

42 The total decrease in equity compared with last year is primarily attributable to the increase in operating costs and the smaller change in net position in the Consolidated Revenue Fund during 2009-2010.

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