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Condensed Statement of Financial Position As at March 31, 2011 ($ thousands) |
Percent Change | 2011 | 2010 (Restated) |
---|---|---|---|
Assets | |||
Total Assets | 6.4% | 1,374,280 | 1,467,922 |
Total | 6.4% | 1,374,280 | 1,467,922 |
Liabilities | |||
Total liabilities | 29.3% | 772,404 | 1,092,124 |
Equity | |||
Total Equity | 60.2% | 601,876 | 375,798 |
Total | 6.4% | 1,374,280 | 1,467,922 |
Condensed Statement of Financial Position For the year ended March 31, 2011 ($ thousands) |
% Change | 2011 | 2010 |
---|---|---|---|
Expenses | |||
Total expenses | 10.0% | 3,519,460 | 3,909,395 |
Revenues | |||
Total revenues | 46.4% | 276,389 | 188,764 |
Net cost of operations | 12.8% | 3,243,071 | 3,720,631 |
The purpose of this section is to explain the Agency's financial highlights during the 2010—2011 fiscal year based on the Agency's consolidated financial statements. Below are explanations for the variances in each major grouping based on the most significant factors that affected each grouping during the fiscal year.
Total liabilities have decreased by $319.7 million, mainly due to the decrease in accounts payable and accrued liabilities of $214.7 million explained by significant amount payable in 2009—2010 in support of the global food crisis and the assistance to Haiti and the decrease in accrued liabilities for matching-fund programs of $104.2 million resulting from disbursements to match donations, leaving a residual liability of $71.5 million to support the Haiti's humanitarian crisis.
The year-over-year increase of $226 million, or about 60 percent, in equity is calculated by subtracting the net cost of operations of $3,243 million from the opening balance, adding the net cash provided by Government of $3,776 million plus the $23 million in services provided without charge by other government departments and subtracting the change in due to Consolidated Revenue Fund of $330 million. For more information, refer to the financial statements, Statement of Equity of Canada and Note 3 on parliamentary appropriations.
Total expenses have decreased by $390 million, primarily due to the decrease in transfer payment spending for food aid, including decreased spending in Haiti in response to the earthquake and the increase in prepaid contributions.
The increase of $87.6 million in revenues is mainly explained by an increase of $89 million in the gain on foreign exchange resulting from the conversion of capital equity by the Inter-American Development Bank for an amount of $227 million and a decrease of $138 million related to variation in the gain on foreign exchange for revaluation of notes payable yet to be encashed by international financial institutions, as well as on allowances on advances and investments.
Complete financial statements18 are available on CIDA's website.
CIDA bilateral disbursements were distributed as follows:
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CIDA's budgetary expenses by program activity are:
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CIDA's expenses are divided up into the following thematic priorities and sectors:
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Total 3,347.3 million
**Other category includes aid expenditures that cannot be attributed to a specific thematic priority. This includes legacy programs coded as multisector aid, development-awareness programs, and health, education, and social services unrelated to Children & Youth
More details on disbursements by sectors and countries are available in CIDA's statistical reports. A statistical report for 2010—2011 will be published by the end of March 2012.
All electronic supplementary information tables found in the 2010—2011 Departmental Performance Report can be found on the Treasury Board of Canada Secretariat's website.
For additional information about CIDA programs, activities, and operations, please visit the Agency's website.
or contact:
Public Inquiries Service
Communications Branch
Canadian International Development Agency
200 Promenade du Portage, 5th Floor
Gatineau, Quebec K1A 0G4
Canada
Telephone: 819-997-5006
Toll free: 1-800-230-6349
Telecommunications device for the hearing- and speech-impaired: 819-953-5023
Toll-free: 1-800-331-5018
Fax: 819-953-6088
Email: info@acdi-cida.gc.ca
The Order-in-Council P.C. 1968-923 of May 8, 1968, and P.C. 1968-1760 of September 12, 1968, designate CIDA as a department for the purposes of the Financial Administration Act. The authority for the CIDA program and related purposes is found in the Department of Foreign Affairs and International Trade Act, in the Official Development Assistance Accountability Act, and in annual appropriation acts. CIDA is the lead government organization responsible for Canada's development assistance.