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2012-13 Quarterly financial Report for the quarter ended December 2012

(Adobe PDF Version)

Management Statement for the Quarter Ending December 31, 2012


This quarterly report has been prepared by management as required by section 65.1 of the Financial Administration Act and in the form and manner prescribed by the Treasury Board. This quarterly report should be read in conjunction with the Main Estimates and Supplementary Estimates.

The raison d’être, or purpose, of the National Round Table on the Environment and the Economy (NRT or Round Table) is to play the role of catalyst in identifying, explaining, and promoting, in all sectors of Canadian society and in all regions of Canada, principles and practices of sustainable development.

The NRT interprets this broad mandate through a strategic focus on issues of national interest at the intersection of the environment and the economy. It examines the environmental and economic implications of priority issues and offers independent advice on how to address them.

Further information on the mandate, roles, responsibilities and programs of the NRT can be found in the NRT’s 2012-13 Main Estimates, available on the following website:

Basis of Presentation:

This quarterly report has been prepared by management using an expenditure basis of accounting. The accompanying Statement of Authorities includes the NRT’s spending authorities granted by Parliament and those used by the Round Table, consistent with the Main Estimates and Supplementary Estimates for the 2012-13 fiscal year. This quarterly report has been prepared using a special purpose financial reporting framework designed to meet financial information needs with respect to the use of spending authorities.

The authority of Parliament is required before monies can be spent by the Government. Approvals are given in the form of annually approved limits through appropriation acts or through legislation in the form of statutory spending authority for specific purposes.

As part of the Parliamentary business of supply, the Main Estimates must be tabled in Parliament on or before March 1 preceding the new fiscal year. Budget 2012 was tabled in Parliament on March 29, after the tabling of the Main Estimates on February 28, 2012. As a result the measures announced in the Budget 2012 could not be reflected in the 2012-13 Main Estimates.

In fiscal year 2012-13, frozen allotments will be established by Treasury Board authority in departmental votes to prohibit the spending of funds already identified as savings measures in Budget 2012. In future years, the changes to departmental authorities will be implemented through the Annual Reference Level Update, as approved by Treasury Board, and reflected in the subsequent Main Estimates tabled in Parliament.

As part of the departmental performance reporting process, the NRT prepares its annual financial statements on a full accrual basis in accordance with Treasury Board accounting policies, which are based on Canadian generally accepted accounting principles for the public sector. However, the spending authorities voted by Parliament remain on an expenditure basis.

The quarterly report has not been subject to an external audit or review.

Highlights of Fiscal Quarter and Fiscal Year to Date Results:

The NRT’s quarterly and year-to-date spending are slightly lower than that of the previous year, mainly due to the government’s decision to close the NRT in 2012-13. The main variances in expenditures between years are a result of a significant increase of $369K in Personnel costs. This increase is offset by decreases of $146K, $83K, $270K, $50K and $35K related to Transportation and Communications, Information, Professional and Special Services, Repairs and Maintenance, and Acquisition of Machinery and Equipment respectively. In 2012-13, the first three quarters include severance and termination benefits payments for twelve employees that resigned from the NRT, which was not the case in 2011-12.

The NRT’s overall spending on Personnel by year-end is expected to be significantly higher than in previous years since indeterminate staff will receive termination benefits in accordance with NRT’s Workforce Adjustment Policy, while spending in all other areas will be substantially lower as no new policy work is undertaken.

As can be seen in Figure 1, the NRT has spent approximately 65% of its authorities in the first three quarters of 2012-13.

Figure 1 – First and Second Quarter Expenditures Compared to Annual Authorities

Description: Title: Comparison of Net Budgetary Authorities and Expenditures as of September 30 ($ in thousands)

Risks and Uncertainties:

The NRT is funded through voted annual appropriations. As a result, its operations are impacted by any changes in funding approved through Parliament. On March 29, 2012, the Government of Canada announced its intention to close the NRT by March 31, 2013. This intention was approved on June 29, 2012 when Bill C-38 received Royal Assent. As a result, the NRT will undertake no new policy work in 2012-13, and will focus on completing existing projects and will wind-up the organization. Given that all staff are affected by the closure there is risk that key positions may become vacant as staff seek and find alternative employment. Management will reassign staff or engage consultants, as required, to ensure a smooth wind-up of operations..

Significant Changes in Relation to Operations, Personnel and Programs:

With the announcement of the NRT closure, no new programs will be undertaken, and operations will focus on the wind-up of the organization. Over the course of the year, the NRT’s paper and electronic records will be transferred to archives as required, and its assets will be disposed in an appropriate manner. The number of staff has reduced, and will continue to decrease over the year, resulting in changing duties and reporting relationships.

Budget 2012 Implementation:

This section provides an overview of the savings measures announced in Budget 2012 that will be implemented in order to refocus government and programs; make it easier for Canadians and business to deal with their government; and, modernize and reduce the back office.

The NRT will achieve the announced Budget 2012 savings by winding down its operation in 2012-13. Budget 2012 will result a $209K savings in 2012-13 and in ongoing savings of $5.2M starting in 2013-14 for the Government of Canada. There are no financial risks or uncertainties related to these savings.

Approved by,

Jim McLachlan
A/President and CEO / Chief Financial Officer
Ottawa, Canada
January 11, 2013

Quarterly Financial Report

For the quarter ended December 31, 2012

Table 1: Statement of Authorities (unaudited)

(Adobe PDF Version)

Statement of Authorities (unaudited)
Fiscal year 2012-13 Fiscal year 2011-12
. Total available for use for the year ending March 31, 2013* Used during the quarter ended December 31, 2012 Year to date used at quarter-end Total available for use for the year ending March 31, 2012* Used during the quarter ended December 31, 2011 Year to date used at quarter-end
Vote 20 – Net operating expenditures 4,810,842 955,946 3,068,477 4,809,974 1,305,893 3,286,194
Budgetary statutory authorities (EBP) 429,588 107,397 322,191 439,195 109,799 329,396
Total budgetary authorities 5,240,430 1,063,343 3,390,668 5,249,169 1,415,692 3,615,590

* Includes only Authorities available for use and granted by Parliament at quarter-end.

Table 2: Departmental budgetary expenditures by Standard Object (unaudited)

(Adobe PDF Version)

Departmental budgetary expenditures by Standard Object
  Fiscal year 2012-13   Fiscal year 2011-12
Planned expenditures for the year ending March 31, 2013 Expended during the quarter ended, December 31, 2012 Year to date used at quarter-end   Planned expenditures for the year ending March 31, 2011 Expended during the quarter ended, December 31, 2011 Year to date used at quarter-end
Personnel 2,870,430 941,442 2,956,439   2,879,169 842,837 2,587,486
Transportation and communications 454,000 21,062 70,041   455,000 103,001 216,503
Information 248,000 27,034 84,434   230,000 135,477 167,282
Professional and special services 1,450,000 62,139 246,704   1,357,500 294,251 516,842
Rentals 60,000 10,093 18,460   60,500 5,443 22,394
Repair and maintenance 56,000 0 365   58,000 7,683 51,179
Utilities, materials and supplies 42,000 605 2,248   41,000 7,137 15,521
Acquisition of machinery and equipment 60,000 768 2,584   168,000 19,351 37,487
Other subsidies and payments 200 9,394   512 896
Total net budgetary expenditures 5,240,430 1,063,343 3,390,668   5,249,169 1,415,692 3,615,590