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ARCHIVED - Office of the Superintendent of Financial Institutions

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Sources of Respendable and Non-Respendable Revenue

A. Respendable Revenue

Respendable Revenue
($ millions)
Program Activity	Respendable revenue	Forecast Revenue 2009-10	Planned Revenue 2010-11	Planned Revenue 2011-12	Planned Revenue 2012-13

Regulation and Supervision of Federally Regulated Financial Institutions	Base Assessments	47.0	51.0	53.4	55.4
	Cost-Recovered Services	0.2	0.2	0.2	0.2
	User Fees and Charges	5.7	3.4	2.9	2.9
Subtotal		52.9	54.6	56.5	58.5

Regulation and Supervision of Federally Regulated Private Pension Plans	Pension Fees	4.6	5.3	5.3	5.1
International Assistance	Cost-Recovered Services	1.7	1.7	1.7	1.7
Actuarial Valuation and Advisory Services	Cost-Recovered Services	3.4	3.3	3.2	3.4
	User Fees and Charges	0.1	0.1	0.1	0.1
Subtotal		3.5	3.4	3.3	3.5

Internal Services	Base Assessments	37.0	39.1	51.	42.3
	Pension Fees	2.1	1.5	1.6	1.9
	Cost-Recovered Services	2.7	2.8	3.0	2.9
Subtotal		41.8	43.4	55.6	46.9
Total Respendable Revenue		104.3	108.3	122.4	115.8

B. Non-Respendable Revenue

Non-Respendable Revenue
($ millions)
Program Activity	Non-respendable revenue	Forecast Revenue 2009-10	Planned Revenue 2010-11	Planned Revenue 2011-12	Planned Revenue 2012-13

Regulation and Supervision of Federally Regulated Financial Institutions	Late and Erroneous Filing Penalties	0.5	0.7	0.7	0.7
Total Non-respendable Revenue		0.5	0.7	0.7	0.7
Total Respendable and Non-respendable Revenue		104.8	109.5	123.1	116.5

Tables A and B identify the sources of respendable and non-respendable revenue, presented on the modified cash basis. OSFI is funded mainly through assessments on the financial institutions and private pension plans that it regulates and supervises and through a user-pay program for selected services, which are billed on the accrual basis of accounting . Under the modified cash basis, the overall revenue increase for 2010-2011 is 3.7%.

The user fees and charges for the Regulation and Supervision of Federally Regulated Financial Institutions program activity include fees for certain legislative approvals and approvals for supervisory purposes pursuant to the Charges for Services Provided by the Office of the Superintendent of Financial Institutions Regulations 2002, and surcharges assessed to financial institutions assigned a “stage” rating pursuant to the Guide to Intervention for Federal Financial Institutions. Surcharges are charged in accordance with the Assessment of Financial Institutions Regulations, 2001. At the time of writing this Report, OSFI was completing its business planning process for 2010-2011 to 2012-2013 and anticipate that user fees and charges might rise from the levels presented in the above Table for all years, as a result of the current economic outlook. All else being equal, base assessments would drop with an increase in surcharge revenue.