Financial highlights

Statement of Financial Position


Courts Administration Service
Condensed Statement of Financial Position (unaudited)
As at March 31, 2014 (dollars)
 
2013–14		 2012–13
(Restated1)		 Difference
(2013–14 minus
2012–13)

1Note: During the preparation of CAS's financial statements for the fiscal year ended
March 31, 2014, errors were identified in the financial statements of prior periods. The corrections have been reported retroactively and comparative information has been restated. These are related to the capitalization of salary costs and the accounting treatment of certain tangible capital assets.
Total net liabilities 15,460,196 15,115,530 344,666
Total net financial assets 10,347,122 7,804,446 2,542,676
Departmental net debt 5,113,074 7,311,084 (2,198,010)
Total non-financial assets 7,521,564 6,853,470 668,094
Departmental net financial position 2,408,490 (457,614) 2,866,104

Liabilities: CAS’s total liabilities as at March 31, 2014 were $15,460,196 ($15,115,530 as at March 31, 2013).

  • Accounts payable and accrued liabilities: The balance as at March 31, 2014, was $3,975,110 ($3,160,034 as at March 31, 2013). The increase of $815,076 is mainly due to an increase in accounts payable to external parties as a result of many projects in Information Technology, Security and Facilities being in progress.
  • Vacation pay and compensatory leave: The balance as at March 31, 2014, was $1,984,319 ($2,047,330 as at March 31, 2013). Vacation pay and compensatory leave remained stable compared to the previous fiscal year.
  • Deposit accounts: The balance as at March 31, 2014, was $7,194,421 ($6,776,478 as at March 31, 2013). Because they reflect many separate decisions of the courts, deposits cannot be projected and the balance in the deposit accounts can vary significantly from year to year.
  • Employee future benefits: The balance as at March 31, 2014, was $2,306,346 ($3,131,688 as at March 31, 2013). Significant changes were made to the employee severance pay program beginning in 2011-12. These changes have resulted in a decrease in employee future benefits over the past three years.

Assets: Total assets signify the ability of CAS to provide future services to the courts and thereby to ensure access to justice for Canadians. CAS’s total gross assets as at
March 31, 2014 were $18,847,592 ($16,735,856 as at March 31, 2013).

  • Gross financial assets: The balance as at March 31, 2014, was $11,326,028 ($9,882,386 as at March 31, 2013). This increase of $1,443,642 is mainly due to an increase in the amount due from the CRF. This amount represents the net amount of cash that CAS is entitled to withdraw from the CRF without generating additional charges against its authorities.
  • Financial assets held on behalf of Government: The balance as at March 31, 2014, was $978,906 ($2,077,940 as at March 31, 2013). These assets consist primarily of accounts receivable from another governmental organization; an example is the allocation to the Department of Employment and Social Development of the costs of administering Employment Insurance cases in the courts.
  • Net financial assets: The balance as at March 31, 2014 was $10,347,122 ($7,804,446 as at March 31, 2013). This amount represents gross financial assets less financial assets held on behalf of the Government.
  • Non-financial assets: The balance as at March 31, 2014, was $7,521,564 ($6,853,470 as at March 31, 2013). Non-financial assets consist of the tangible capital assets that are essential for the successful delivery of services required by the courts. Computer hardware and software (including assets under construction) totaled 33% of non-financial assets in 2013-14, while leasehold improvements accounted for 52%. Combined, these categories currently account for 85% of CAS’s tangible capital assets.

Investment in capital assets is crucial for maintaining secure modern facilities, updating technological infrastructure and information systems, and maintaining a reliable fleet of vehicles. CAS spent $1,749,478 on the acquisition of tangible capital assets in 2013-14 ($1,640,872 in 2012-13). Of this amount, $758,926 related to computer hardware and software, $652,883 related to machinery and equipment and $276,580 related to leasehold improvements. Other acquisitions of $61,089 were for furniture and fixtures, and vehicles.

Departmental Net Debt: CAS’s departmental net debt (total liabilities less total net financial assets) was $5,113,074 as at March 31, 2014 ($7,311,084 as at March 31, 2013). Departmental net debt provides a measure of the future authorities required to pay for past transactions and events.

Departmental Net Financial Position: CAS’s departmental net financial position (total non-financial assets less departmental net debt) was $2,408,490 as at March 31, 2014 (compared to $457,614 as at March 31, 2013). Departmental net financial position represents the net resources (financial and non-financial) that will be used to provide future services to the courts and thereby to benefit Canadians.

Further Financial Information

The Financial Statements are available on-line.

Further financial details are provided in the “Financial Statement Discussion and Analysis” available on-line.