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Section III: Supplementary Information

Financial Highlights

The financial highlights presented with the Departmental Performance Report are intended to serve as a general overview of LAC's financial position and operations. Financial statements are prepared in accordance with accrual accounting principles. The unaudited supplementary information presented in the financial tables in other sections of this report was prepared on a modified cash basis of accounting in order to be consistent with appropriations-based reporting.

($ thousands)
Condensed Statement of Financial Position
As at March 31, 2011
% Change 2011 2010
Assets      
Total Assets -20.3% 50,146 62,948
Total -20.3% 50,146 62,948
Liabilities      
Total Liabilities -8.9% 28,864 31,670
Equity      
Total Equity -32.0% 21,282 31,278
Total -20.3% 50,146 62,948

($ thousands)
Condensed Statement of Financial Position
For the year ended March 31, 2011
% Change 2011 2010
Expenses      
Total Expenses 12.4% 170,301 151,482
Revenues      
Total Revenues -20.6% 506 637
Net Cost of Operations 12.6% 169,795 150,845

Financial Highlights Graphs


Assets by Type

Total assets were $50.146 million at the end of 2010–2011, a decrease of $12.802 million (20.3 percent) versus last year’s total assets.  Capital assets continue to be the largest asset component, representing 83 percent of assets.

 


Liabilities by Type

Total liabilities were $28.864 million at the end of 2010–2011, a decrease of $2.806 million (8.9 percent) versus last year’s total liabilities. Employee severance benefits and accounts payable continue to be the largest components of liabilities.

 


Expenses by Type

Total expenses were $170.301 million at the end of 2010–2011, an increase of $18.950 million (12.6 percent) versus last year’s total expenses.  The major expense area is salary and employee benefits, which represents 52 percent of total expenses.

 

Financial Statements

The organization's financial statements can be found on LAC's website at: www.collectionscanada.gc.ca/about-us/012-2003-e.html

List of Supplementary Information Tables

All electronic supplementary information tables found in the 2010–2011 Departmental Performance Report can be found on the Treasury Board of Canada Secretariat’s website at: www.tbs-sct.gc.ca/dpr-rmr/2010-2011/index-eng.asp.

  • Sources of Respendable and Non-Respendable Revenue
  • User Fees Reporting
  • Green Procurement
  • Internal Audits and Evaluations