Report on Plans and Priorities 2015-16

Future-Oriented Statement of Operations

The future-oriented condensed statement of operations provides a general overview of the Fisheries and Oceans Canada's operations. The forecast of financial information on expenses and revenues is prepared on an accrual accounting basis to strengthen accountability and to improve transparency and financial management.

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

A more detailed future-oriented statement of operations and associated notes, including a reconciliation of the net cost of operations to the requested authorities, can be found on the Fisheries and Oceans CanadaFootnote1 website.

Future-Oriented Condensed Statement of Operations

(For the year ended March 31, 2015)

(in thousands of dollars)
Financial Information 2014-15
Estimated Results
Planned Results
Total Expenses 1,971,660 1,990,294 18,634
Total Revenues 47,915 47,915 0
Net Cost of Operations 1,923,745 1,942,379 18,634

The Net Cost of Operations is forecasted to increase by $18.6 million in 2015-16 to $1,942.4 million which is the direct result of the forecasted increase in Total Expenses in 2015-16 of $18.6 million when compared to 2014-15. This increase is mainly attributed to an overall increase in authorities available for spending of $26.6 million ($1,862.7 million in 2014-15 compared to $1,889.2 million in 2015-16). Authorities available for spending in 2015-16 do not include funding items such as Supplementary Estimates B ($176.8 million in 2014-15), carry forwards ($75.4 million in 2014-15) but include increase in funding for items such as the procurement of helicopters for the Canadian Coast Guard, the vessel life extensions and mid-life modernization program, the implementation of a World-Class Tanker Safety System and the investment at small craft harbours across Canada.