Financial Statements highlights
Statement of Operations
2013–14 Planned Results |
2013–14 Actual |
2012–13 Actual (Restated1) |
Difference (2013–14 actual minus 2013–14 planned) |
Difference (2013–14 actual minus 2012–13 actual) |
|
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1Note: During the preparation of CAS's financial statements for the fiscal year ended |
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Total expenses | 99,950,591 | 95,230,581 | 93,967,006 | (4,720,010) | 1,263,575 |
Total revenues | 7,610 | 3,850 | 3,798 | (3,760) | 52 |
Net cost of operations before government funding and transfers | 99,942,981 | 95,226,731 | 93,963,208 | (4,716,250) | 1,263,523 |
Departmental net financial position | 688,035 | 2,408,490 | (457,614) | 1,720,455 | 2,866,104 |
Statement of Operations and Departmental Net Financial Position
Expenses: CAS's total expenses were $95,230,581 in 2013-14 ($93,967,006 in 2012-13). The largest components in the increase of $1,263,575 (1%) were increases of $403,847 in amortization of tangible capital assets and $285,089 in professional and special services.
- Salaries and employee benefits: Salary and employee benefit expenses were $53,183,830 in 2013-14 ($52,998,803 in 2012-13). The $185,027 (0.4%) increase compared to 2012-13 is primarily due to the completion of severance liquidation payments in 2013-14. More than half of CAS's total expenses consist of salaries and employee benefits.
- Operating: Operating expenses were $42,046,751 in 2013-14 ($40,968,203 in 2012-13). The $1,078,548 (3%) increase compared to 2012-13 is attributable to increases of $403,847 in amortization of tangible capital assets and $285,089 in professional and special services, and other minor variances totaling $389,612.
Revenues: The majority of CAS's revenues are earned on behalf of Government. Such revenues are non-respendable, meaning that they cannot be used by CAS, and are deposited directly into the Consolidated Revenue Fund (CRF). CAS earns a small amount of respendable revenue from the sale of Crown assets. CAS's gross revenues were $3,017,798 in 2013-14 ($5,611,564 in 2012-13) and net revenues were $3,850 in 2013-14 ($3,798 in 2012-13).