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Report on Plans and Priorities 2014-15

Future-Oriented Statement of Operations

The future-oriented condensed statement of operations presented in this subsection is intended to serve as a general overview of Fisheries and Oceans Canada’s operations. The forecasted financial information on expenses and revenues are prepared on an accrual accounting basis to strengthen accountability and to improve transparency and financial management.

Because the future-oriented statement of operations is prepared on an accrual accounting basis and the forecast and planned spending amounts presented in other sections of this report are prepared on an expenditure basis, amounts will differ.

A more detailed future-oriented statement of operations and associated notes, including a reconciliation of the net costs of operations to the requested authorities, can be found on Fisheries and Oceans Canada's website.

Future-Oriented Condensed Statement of Operations

(For the year ended March 31)

(dollars)
  Estimated Results
2013-14
Planned Results
2014-15
Change
Total Expenses 1,987,652,011 1,717,614,713 (270,037,298)
Total Revenues 51,486,314 51,395,678 (90,636)
Net Cost of Operations 1,936,165,697 1,666,219,035 (269,946,662)

The Net Cost of Operations is forecasted to decrease by $269.9 million in 2014-15 to $1,666.2 million which is the direct result of the forecasted decrease in Total Expenses in 2014-15 of $270.0 million when compared to 2013-14. This decrease is mainly attributed to an overall decrease in authorities available for spending of $293.3 million ($1,898.6 million in 2013-14 compared to $1,605.3 million in 2014-15). Authorities available for spending in 2014-15 do not include funding items such as Supplementary Estimates B ($116.9 million in 2013-14), carry forwards ($111.2 million in 2013-14) but include reductions for savings measures of $50.5 million as a result of the Budget 2012 and Budget 2013 announcements.