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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. The organization's financial statements can be found on LAC's website at: [www.collectionscanada.gc.ca/about-us/012-2001-e.html]
| Condensed Statement of Financial Position At End of Year (March 31, 2010) |
% Change | 2010 | 2009 |
|---|---|---|---|
| Assets | |||
| Total Assets | 32.3% | 56,407 | 42,641 |
| Total | 32.3% | 56,407 | 42,641 |
| Liabilities | |||
| Total Liabilities | -26.9% | 31,670 | 43,352 |
| Equity | |||
| Total Equity | 3,579.2% | 24,737 | (711) |
| Total | 32.3% | 56,407 | 42,641 |
| Condensed Statement of Financial Operations At End of Year (March 31, 2010) |
% Change | 2010 | 2009 |
|---|---|---|---|
| Expenses | |||
| Total Expenses | -12.1% | 151,482 | 172,369 |
| Revenues | |||
| Total Revenues | 14.2% | 637 | 558 |
| Net Cost of Operations | -12.2% | 150,845 | 171,811 |
Figure 7: Assets by Type
Total assets were $56,407 million at the end of 2009—2010, an increase of $13,766 million (32.3 percent) versus last year's total assets. Capital assets continue to be the largest asset component, representing 99 percent of assets.
Figure 8: Liabilities by Type
Total liabilities were $31,670 million at the end of 2009—2010, a decrease of $11,682 million (26.9 percent) versus last year's total liabilities. Employee severance benefits and accounts payable continue to be the largest components of liabilities.
Total expenses were $151,482 million at the end of 2009—2010, a decrease of $20,887 million (12.1 percent) versus last year's total expenses. The major expense area is salary and employee benefits, which represents 55 percent of total expenses.
List of Supplementary Information Tables
Green Procurement
Internal Audits and Evaluation
Sources of Respendable and Non-Respendable Revenue
Summary of Capital Spending by Program Activity
All electronic supplementary information tables found in the 2009—2010 Departmental Performance Report can be found on the Treasury Board of Canada Secretariat's website at: [www.tbs-sct.gc.ca/dpr-rmr/st-ts-eng.asp].
