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2011/2012 Report on Plans and Priorities - Future-oriented Financial Statements
- 1. Authority and objectives
- 2. Significant assumptions
- 3. Variations and Changes to the Forecast Financial Information
- 4. Summary of significant accounting policies
- 5. Parliamentary Appropriations
- 6. Tangible capital assets
- 7. Employee future benefits
- 8. Related party transactions
- 9. Segmented information
The future-oriented financial statements have been prepared on the basis of the government priorities and the plans of the department as described in the Report on Plans and Priorities.
The main assumptions are as follows:
- The Department has considerable temporary funding that is scheduled to sunset March 31, 2011. These financial statements do not consider any potential renewal of the sunsetting programs. Environment Canada's activities may change depending on the outcome of Budget 2011 decisions on the renewal of core regulatory and non-regulatory activities, as well as other Government funding decisions. The outcome of these decisions will be reflected in the Department’s future budget exercises as this information becomes known.
- Expenses and revenues, including the determination of amounts internal and external to the government, are based on historical data and trends, up-to-date Annual Reference Level Update (ARLU) information, supplementary Estimates, expert information from within the department and requests to other departments for information (ex. Services provided without charge).
- Allowances for uncollectibility are based on best estimate.
- Estimated year end information for 2010-11 is used as the opening position for the 2011-12 forecasts.
These assumptions are adopted as at December 31st, 2010.
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