Archived - Variance Analysis Summary: Indigenous and Northern Affairs Canada (INAC) - Financial Statements (Unaudited) - Fiscal Year 2016-2017

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Table of contents

Part A – Statement of Financial Position – Fiscal Year 2016-2017

FY 2016-2017 Variance Summary – Statement of Financial Position (Unaudited)
As at March 31

(in thousands of dollars) 2017 2016 Year-Over-Year Variance Explained Unexplained Reference
      $ % % %  
Liabilities
Accounts payable and accrued liabilities (note 4) 762,879 754,863 8,016 1% 1% 0% A 1
Vacation pay and compensatory leave 18,954 15,157 3,797 25% 25% 0% A 2
Other liabilities (note 5) 62,049 60,458 1,591 3%      
Trust accounts (note 6) 701,209 766,810 (65,601) -9% -9% 0% A 3
Settled claims (note 7) 203,950 228,117 (24,167) -11% -11% 0% A 4
Contingent liabilities (note 8) 15,065,865 11,550,744 3,515,121 30% 30% 0% A 5
Environmental liabilities (note 9) 3,394,399 3,765,010 (370,611) -10% -10% 0% A 6
Employee future benefits (note 10) 18,042 23,956 (5,914) -25% -27% 2% A 7
Total Liabilities 20,227,347 17,165,115 3,062,232 18%      
Financial Assets
Due from the Consolidated Revenue Fund 1,501,826 1,555,701 (53,875) -3% -4% 1% A 8
Accounts receivable and advances (note 11) 67,357 84,861 (17,504) -21% -15% -6% A 9
Loans and interest receivable (note 12) 799,916 874,274 (74,358) -9% -9% 0% A 10
Total gross financial assets 2,369,099 2,514,836 (145,737) -6%      
Financial assets held on behalf of government
Loans and interest receivable (note 12) (799,916) (874,274) 74,358 -9%      
Total financial assets held on behalf of government (799,916) (874,274) 74,358 -9%      
Total net financial assets 1,569,183 1,640,562 (71,379) -4%      
Departmental net debt 18,658,164 15,524,553 3,133,611 20%      
Non Financial Assets
Land held for future claims settlements (Note 13) 38,847 38,847 - 0%      
Prepaid expenses 161 67 94 140%      
Tangible capital assets (Note 14) 173,787 137,589 36,198 26% 26% 0% A 11
Total non-financial assets 212,795 176,503 36,292 21%      
Departmental net financial position (note 15) (18,445,369) (15,348,050) (3,097,319) 20%      

A 1 – Accounts payable and accrued liabilities

(Financial Reporting Account 21111, 21112, 21113, 21119, 21128, 21132, 21134, 21151, 21611, 21613, 21614, 21621, 21626, 21627)
(2016-2017 INAC Financial Statements Note 4)

Financial Statement Data (in thousands of dollars)
Fiscal Year 2016-2017 762,879
Fiscal Year 2015-2016 754,863
Variance (+Increase / -Decrease) 8,016
Percentage (+Increase / -Decrease) 1%
Explanation of Major Variances Variance $ Variance %
Accounts payables and accrued liabilities increased during 2016-2017 due to the following payable that were recorded during 2016-2017 a remained outstanding at year end:
  • Government of Alberta for the funding and administration of social services for First Nations
  • Province of Ontario -  Ministry of Community and Social Services for the social development program
  • Public Service Procurement Canada related to the project management of the remediation of a mining project in the north as well as for the construction of the Canadian High Artic Resource Station.
 92,930 13%
The overall increase is offset by the settlement of the following payables for grants and contributions established in 2015-16 and previous fiscal years:
  • Province of Ontario -  Ministry of Community and Social Services for the social development program
  • Minister of Finance of British Columbia for its social development program - Child and Family Services
  • The Government of Nunavut for the Nunavut land claim agreement
 -84,511 -12%
Total Explained 8,419 1%
Total Unexplained -403 0%

A 2 – Vacation pay and compensatory leave

(Financial Reporting Account 21411, 21414)

Financial Statement Data (in thousands of dollars)
Fiscal Year 2016-2017 18,954
Fiscal Year 2015-2016 15,157
Variance (+Increase / -Decrease) 3,797
Percentage (+Increase / -Decrease) 25%
Explanation of Major Variances Variance $ Variance %
The variance is largely attributed to an increase in the allowance for vacation pay of $3.3M. This is as a result of an increase in unused leave at year end. This can be explained by several factors:
  • The number of full time equivalents at year end increased since 2015-2016
  • The pay center which is responsible for entering vacation balances recorded outstanding vacation balances from previous year during 2016-2017
  • More employees are taking compensatory leave instead of paid overtime due to pay issues resulting from the Phoenix pay-system. This results in a higher amount of unused vacation time at year-end.
In addition, the liability for unused compensatory leave increased by $0.5M as a result of the Treasury Board decision to allow employees to carry over unused compensatory leave at year end due to the on-going Phoenix pay system issues.		 3,797 25%
Total Explained 3,797 25%
Total Unexplained 0 0%

A 3 – Trust accounts

(Financial Reporting Account 23221, 23222, 23223, 23225)
(2016-2017 INAC Financial Statements Note 6)

Financial Statement Data (in thousands of dollars)
Fiscal Year 2016-2017 701,209
Fiscal Year 2015-2016 766,810
Variance (+Increase / -Decrease) -65,601
Percentage (+Increase / -Decrease) -9%
Explanation of Major Variances Variance $ Variance %
The balances of the Indian Band Funds, Indian Savings Accounts and Indian Estates Accounts comprise the Indian Moneys Trust Accounts. Changes in the balances result from total receipts credited to the accounts minus total disbursements made during the year.    
The Indian Band Funds account decreased in 2016-17 by $65.2M due to disbursements of Band Funds that exceeded receipt of funds; receipts in 2015-2016 totaled $968M as compared to $132M in 2016-2017. The reduction in receipts is due in large part to a significant downturn in the oil and gas industry impacting Alberta and Saskatchewan. -65,216 -9%
Total Explained -65,216 -9%
Total Unexplained -385 0%

A 4 – Settled claims

(Financial Reporting Account 24114)
(2016-2017 INAC Financial Statements Note 7)

Financial Statement Data (in thousands of dollars)
Fiscal Year 2016-2017 203,950
Fiscal Year 2015-2016 228,117
Variance (+Increase / -Decrease) -24,167
Percentage (+Increase / -Decrease) -11%
Explanation of Major Variances Variance $ Variance %
Payments for settled claims are generally made over a number of years.  The settled claims liability represents the present value of the future scheduled claim payments of all outstanding settled claims.  The total decrease in the liability is due to:
  • Current year scheduled payments in the amount of $69M;
  • A decrease of $2M due to discounting as payments are made over several years ;
  • This was offset by a new settled claim added in the amount of $47M.
 -24,167 -11%
Total Explained -24,167 -11%
Total Unexplained 0 0%

A 5 – Contingent liabilities

(Financial Reporting Account 21433)
(2016-2017 INAC Financial Statements Note 8)

Financial Statement Data (in thousands of dollars)
Fiscal Year 2016-2017 15,065,865
Fiscal Year 2015-2016 11,550,744
Variance (+Increase / -Decrease) 3,515,121
Percentage (+Increase / -Decrease) 30%
Explanation of Major Variances Variance $ Variance %
Litigation
The majority of this increase is due to the combination of the following:
  • New legal risk assessment for a total increase of $2.6B.
  • Eight claims were settled or removed decreasing the provision by $472M.
 2,144,777 18%
Specific Claims (including claims filed at Specific Claim Tribunal)
The increase in balance can be explained by:
  • New claims added to the inventory  or whose liability was increased for a total amount of $1,355M;
  • Offset by settlements of 17 claims reducing the liability by $248M;
  • The removal of 19 claims for $327M because they were withdrawn, invalid or did not demonstrate a lawful obligation.
 779,266 7%
Special Claims:
The increase of $551M is as a result of the settlement of two claims ($130M) and the addition of new claims ($681M).		 551,056 5%
Comprehensive Claims:
  • The increase in balance is attributed to an increase of financial mandate for four claims and the inflationary changes over the noted period further increased the amount by $180M.
  • This was offset by the removal of one settled claim by $62M.
 118,203 1%
Indian Residential School Claims
The decrease is as a result of decisions issued and settlements achieved for 1,871 claims during the year. In addition, there was an increase in the zero dollar award rate which results in a lower estimated liability.		 -78,186 -1%
Total Explained 3,515,116 30%
Total Unexplained 5 0%

A 6 – Environmental liabilities

(Financial Reporting Account 24141)
(2016-2017 INAC Financial Statement Note 9)

Financial Statement Data (in thousands of dollars)
Fiscal Year 2016-2017 3,394,399
Fiscal Year 2015-2016 3,765,010
Variance (+Increase / -Decrease) -370,611
Percentage (+Increase / -Decrease) -10%
Explanation of Major Variances Variance $ Variance %
During 2016-2017, there was a decrease of the liability in the Northern region of $267M resulting from a combination of the following:
  • $136M in remediation expenditures which reduced the liability;
  • $165M  attributed to a decline in the inflation and net present value rates used in March 2017 as compared to March 2016;
  • Offset by an increase of $34M for existing sites due to an increase in cost estimates.
 -266,816 -7%
During 2016-2017 there was a decrease of liability in the Southern region resulting from a combination of the following:
  • A statistical model (the Golder model) is used to estimate the liability for unassessed sites based on historical costs incurred for contaminated sites with similar functions. As a result, a liability estimate of $126.4M has been recorded for 1,195 unassessed sites in 2016-17 as compared to a liability estimate of $217.9M which was recorded for 991 sites in 2015-16.
  • In addition, in 2015-2016, six additional sites were added using extrapolation for a liability estimates of $2.0M whereas there were no additional sites added in 2016-17.
  • The actual remediation expenditures reducing the liabilities by $34.8M;
This decrease were partly offset by the following:
  • The cost estimates increase liabilities by $16.3M;
  • New sites added increased the liabilities by $4.4M; and
  • The variance in inflation and net present value rates together accounted for a $0.6M increase.
-106,850 -3%
Total Explained -373,666 -10%
Total Unexplained 3,055 0%

A 7 – Employee future benefits

(Financial Reporting Account 21415)
(2016-2017 INAC Financial Statements Note 10)

Financial Statement Data (in thousands of dollars)
Fiscal Year 2016-2017 18,042
Fiscal Year 2015-2016 23,956
Variance (+Increase / -Decrease) -5,914
Percentage (+Increase / -Decrease) -25%
Explanation of Major Variances Variance $ Variance %
Employee Severance Benefit Liability is based on a calculation promulgated by the Office of the Comptroller General of Canada.

The decrease in the liability is due to a combination of the following:

  • A decrease in the annual gross payroll for employees where the accumulation of severance benefits ceased and employee election has been submitted on or prior to March 31, 2016.
  • A decrease of the severance rate used in the calculation of the severance benefit allowance compared to 2015-2016 (5.69% compare to 7.51%) in resulted in a lower estimation of severance liability.
 -6,497 -27%
Total Explained -6,497 -27%
Total Unexplained 583 2%

A 8 – Due from the Consolidated Revenue Fund

(Financial Reporting Account 11242, 13314, 13315, 13392, 13396, 21111, 21112, 21113, 21119, 21128, 21132, 21134, 21151, 21611, 21613, 23211, 23213, 23214, 23221, 23222, 23223, 23225, 23441, 23442)

Financial Statement Data (in thousands of dollars)
Fiscal Year 2016-2017 1,501,826
Fiscal Year 2015-2016 1,555,701
Variance (+Increase / -Decrease) -53,875
Percentage (+Increase / -Decrease) -3%
Explanation of Major Variances Variance $ Variance %
Decrease in Accounts Receivable of $17M (see A9 for explanation) 17,504 1%
Decrease in Trust Accounts of $65M (see A3 for explanation) - 65,216 - 4%
Decrease in Accounts Payable of $8M (see A1 for an explanation) - 8,016 -1%
Total Explained -55,728 - 4%
Total Unexplained 1,853 1%

A 9 – Accounts receivable and advances

(Financial Reporting Account 11123, 11125, 11129, 11221, 11231, 11233, 11237, 11242, 13314, 13315, 13319, 13396)
(2016-2017 INAC Financial Statements Note 11)

Financial Statement Data (in thousands of dollars)
Fiscal Year 2016-2017 67,357
Fiscal Year 2015-2016 84,861
Variance (+Increase / -Decrease) -17,504
Percentage (+Increase / -Decrease) -21%
Explanation of Major Variances Variance $ Variance %
Accounts receivables
  • The majority of the decrease is due to the repayment of a $16.9M receivable in 2016-17 relating to resource royalties in accordance with the NWT devolution agreement.
  • In 2016-2017, a thorough review was conducted to evaluate the recoverability of accounts receivables. As a result, an amount of $2.5M was assessed as uncollectible and was written-off.
-19,521 -23%
Salary overpayments
There was an increase of $7.4M due to salary overpayments due to on-going Phoenix pay system issues.		 7,431 9%
Total Explained -12,090 -15%
Total Unexplained -5,414 -6%

A 10 – Loans and interest receivable

(FRA 11234, 11239, 1333X, 13379, 1338X, 13391, 13399, 13439)
(2016-2017 INAC Financial Statement Note 12)

Financial Statement Data (in thousands of dollars)
Fiscal Year 2016-2017 799,916
Fiscal Year 2015-2016 874,274
Variance (+Increase / -Decrease) -74,358
Percentage (+Increase / -Decrease) -9%

Direct loans portfolio

Explanation of Major Variances Variance $ Variance %
Principal –
As more First Nations are in negotiation stages rather than repayment stages, loan issued outnumber loan repayments. Loans receivable increased for First Nations in British Columbia by $14M and for Native Claimants by $4M because we issued more payments in 2016-2017 as compared to 2015-2016.		 19,203 2%
Interest receivable-
Interest receivable increased due to one additional claim reaching an agreement in principal stage and therefore becoming interest bearing. In addition, loans are being issued at a higher rate than they are being repaid. 		427 0%
Allowance for doubtful loans and interest receivable-
The allowance for doubtful loans increased significantly from 2015-2016 after it was determined that the collectability of $91.2M of loans receivable is not reasonably assured.		 -91,231 -10%
Subtotal direct loans portfolio -71,601 -9%

Defaulted guaranteed loans portfolio

Explanation of Major Variances Variance $ Variance %
Principal-
The decline in the principal balance is attributed to the write-off of ten loans pertaining to the On-reserve Housing, Indian Economic Guarantee and Farm Credit Canada (other defaulted guaranteed loans) loan guarantee programs which resulted in a reduction of $0.8M. The remaining decline is as a result of repayments.		 -1,611 0%
Interest receivable-
The increase in interest is explained by accrued interest of $3.8M that was recorded in 2016-2017 as compared to $1.5M in 2015-2016. The large increase is explained by a correction that was done in 2015-2016 which resulted in a downward adjustment to correct an interest overstatement.

This was offset by the write-off of the interest portion of ten loans which resulted in a reduction of $2.9M as well as repayments of $.8M during the year.		 763 0%
Allowance-
The allowance for doubtful guaranteed loans increased from 2015-2016 after it was determined that the collectability of $5.5M of loans receivable is not reasonably assured. This was offset by the write-off of $3.7M of loans during 2016-2017. 		- 1,909 0%
Subtotal defaulted guaranteed loans -2,757 0%
Total Explained -74,358 -9%
Total Unexplained 0 0%

A 11 – Tangible capital assets

(Financial Reporting Account 161XX, 163XX, and 514XX)
(2016-2017 INAC Financial Statement Note 14)

Financial Statement Data (in thousands of dollars)
Fiscal Year 2016-2017 173,787
Fiscal Year 2015-2016 137,589
Variance (+Increase / -Decrease) 36,198
Percentage (+Increase / -Decrease) 26%
Explanation of Major Variances Variance $ Variance %
The increase is mainly due to the capitalization of additional expenditures for buildings in progress of construction related to the Canadian High Artic Research Station Project.  36,304 26%
Total Explained 36,304 26%
Total Unexplained -106 0%

Part B – Statement of Operations

B 1 – Statement of Operations – 2016-2017 versus 2015-2016

For the Year Ended March 31

(in thousands of dollars) 2017 2016 Year-Over-Year Variance
$ %
Expenses
People 6,298,697 3,672,644 2 626 053 72%
Government 3,440,247 2,781,954 658,293 23%
Land and Economy 2,217,674 1,961,920 255,754 13%
North 73,309 866,819 (793,510) -92%
Internal Services 318,591 308,854 9,737 3%
Expenses incurred on behalf of Government (96,870) (15,877) (80,993) 510%
Total expenses 12,251,648 9,576,314 2 675 334 28%
Revenues
Resource royalties 852 17,821 (16,969) -95%
Norman Wells project profits - 10,471 (10,471) -100%
Interest on loans 5,952 3,829 2,123 55%
Miscellaneous 5,343 2,968 2,375 80%
Finance and administrative services 2,264 2,448 (184) -8%
Leases and rentals 977 1,445 (468) -32%
Revenues earned on behalf of Government (11,202) (35,681) 24,479 -69%
Total revenues 4,186 3,301 885 27%
Net cost from continuing operations 12,247,462 9,573,013 2,674,449 28%

Highlights of Major Variances – Statement of Operations

2016-2017 versus 2015-2016

Expenses

There was a significant increase to the Department's strategic outcomes from 2015-2016 to 2016-2017. No material adjustments were made to the strategic outcomes during the year. The explanation of individual variances grouped by strategic outcomes can be found in the expense variance summaries in Part C.

People

This variance is primarily explained by the increase in the operating expense related to the provision of contingent liabilities (see C9 – Claims and litigation) which was slightly offset by a decrease in court awards and other settlements (see C11- Court awards and other settlements).

Government

The increase is attributed to the transfer payments to Indigenous peoples (see C1 – Indigenous peoples (transfer payment)), as well as the increase in claims and litigation related Comprehensive and Specific claims (see C9 – Claims and litigation).

Land and Economy

The variance is attributed to an increase in transfer payments to Indigenous peoples (see C1 – Indigenous peoples (transfer payment)). This is as a result of Budget 2016 funding to support the delivery of on-reserve housing, waste water management and other infrastructure as well as funding for additional investment in First Nation elementary and secondary education.

North

The decrease is explained by the change in the provision for environmental liabilities in the Northern Region (see C8 – Environmental Liabilities (transfer payments) and C14 – Environmental Liabilities (Operating Expenses)).

Internal Services

The increase is explained by an augmentation in expenditures for professional and special services (see C10- Professional and special services).

Revenue

Variance analysis for revenue is provided in Part D "Revenue – Note 20 Segmented Information".

B 2 – Statement of Operations – Actual versus Planned

For the Year Ended March 31

(in thousands of dollars) 2017
Actual		 2016
Planned		 Variance (Actual versus Planned)
$ %
Expenses
People 6,298,697 3,634,071 2,664,626 73%
Government 3,440,247 1,251,647 2,188,600 175%
Land and Economy 2,217,674 1,498,860 718,814 48%
North 73,309 116,033 (42,724) -37%
Internal Services 318,591 253,041 65,550 26%
Expenses incurred on behalf of Government (96,870) 6,394 (103,264) -1,615%
Total expenses 12,251,648 6,760,046 5,491,602 81 %
Revenues
Resource royalties 852 2,000 (1,148) -57%
Norman Wells project - 67,465 (67,465) -100%
Interest on loans 5,952 5,845 107 2%
Miscellaneous 5,343 4,152 1,191 29%
Finance and administrative services 2,264 1,654 610 37%
Leases and rentals 977 537 440 82%
Revenues earned on behalf of Government (11,202) (79,428) 68,226 -86%
Total revenues 4,186 2,225 1,961 88%
Net cost from continuing operations 12,247,462 6,757,821 5,489,641 81 %

Highlights of Major Variances – Statement of Operations

Actual versus Planned

2017 Planned Results

The forecasted financial information for 2016-2017 only included amounts presented in the 2016-2017 Reports on Plans and Priorities. 2016-2017 Supplementary Estimates C and the 2016 Budget funding were not included in the 2016-2017 forecast.

In addition, accruals for new contingent liabilities for claims and litigations and environmental liabilities were excluded from the forecast as they could not be reasonably foreseen or quantified.

Expenses
People

The variance between actual and planned can be explained by the increase in the provision for claims and litigation (see C9 – Claims and litigations).

Government

The variance between the actual and planned is due to the fact that the program was expecting a decrease in the provision for claims and litigation for specific claims and comprehensive claims but it ended up increasing  (see C9 – Claims and litigations). In addition, the increase to the provision for doubtful direct loans contributed to this variance (see A10- Loans and Interest Receivable). In addition, the increase in transfer payments to Indigenous people provided in Budget 2016 caused a large variance.

Land and Economy

The variance between actual and planned can be explained by the increase in 2016-2017 in the contingent liabilities (see C9 – Claims and Litigations) and an increase in transfer payments as per Budget 2016.

North

The variance is largely attributed to an decrease in accrued environmental liabilities recorded for the northern regions while a decrease was forecasted for remediation of existing contaminated sites (see C8 – Environmental Liabilities (Transfer Payments) and C14 – Environmental Liabilities (Operating Expenses)).

Internal Services

The variance is largely attributed to the variance between actual and forecasted Operating expenditures for professional services and legal fees.

Revenue
Resource Royalties

The variance is largely attributed to the decrease in mining royalties as a result of the Northwest Territories (NWT) devolution (see D1 - Resource Royalties). The forecast was based on an estimate for audit adjustments from previous year filings which were lower than expected.

Norman Wells Project Profits

The variance is attributed to the Norman Wells Project which is not currently producing crude oil due to the decommissioning of Enbridge Line 21 (see D2 - Norman Wells Project Profits). This was not considered in the forecast.

Finances and administrative services

The variance between the planned and actual 2016-2017 revenue is explained by lower than expected revenues for human resources services and information technology services.

Lease and rentals

The variance between the planned and actual 2016-2017 Lease and rentals revenue is largely as a result of the Northwest Territories devolution.

Part C – Expenses – Note 20 – Segmented Information

As at March 31

(in thousands of dollars) 2017 2016 Year-Over-Year Variance Explained Unexplained Reference
      $ % % %  
Transfer Payments
Indigenous peoples 7,086,759 5,413,818 1,672,941 31% 24% 7% C 1
Claims and litigation 1,448,525 1,161,582 286,943 25% 25% 0% C 2
Provincial/territorial governments and institutions 968,887 980,821 (11,934) -1% -1% 0% C 3
Industry 88,047 76,507 11,540 15% 13% 2% C 4
Non-Profit Organizations 67,452 55,881 11,571 21% 18% 3% C 5
Other 903 660 243 37% 37% 0% C 6
Refunds/adjustments on prior years expenditures (34,709) (48,785) 14,076 -29% -28% -1% C 7a)
Environmental liabilities (271,873) 398,200 (670,073) -168% -168% 0% C 8
Total Transfer Payments 9,353,991 8,038,684 1,315,307 16%      
Operating Expenses              
Claims and litigation 2,066,591 (248,251) 2,314,842 932% 932% 0% C 9
Salaries and employee future benefits 460,098 469,447 (9,349) -2%      
Professional and special services 195,302 212,789 (17,487) -8% -9% 1% C10
Court awards and other settlements 177,145 552,206 (375,061) -68% -68% 0% C 11
Legal services 79,718 77,713 2,005 3%      
Accommodations 35,221 36,217 (996) -3%      
Travel and relocation 22,279 24,877 (2,598) -10%      
Rentals of buildings and machinery 17,583 16,498 1,085 7%      
Amortization 10,436 10,129 307 3%      
Bad debt 7,437 7,510 (73) -1%      
Information services 7,142 9,306 (2,164) -23% -24% 1% C12
Machinery and equipment 3,907 3,912 (5) 0%      
Utilities, materials and supplies 3,685 3,340 345 10%      
Transportation and telecommunications 1,692 2,357 (665) -28%      
Repair and maintenance 1,623 4,386 (2,763) -63%      
Other 5,225 9,875 (4,650) -47% -45% -2% C13
Environmental liabilities (98,739) 366,463 (465,202) -127% -127% 0% C14
Expenses incurred on behalf of government (96,870) (15,877) (80,993) 510% 510% 0% C 15
Refunds/adjustments to prior year expenditures (1,818) (5,267) 3,449 -65% -61% -4% C 7b)
Total Operating Expenses 2,897,657 1,537,630 1,360,027 88%      
Total Expenses 12,251,648 9,576,314 2,675,334 28%      

C 1 – Indigenous People

(Financial Reporting Account 51171, 51118)

Financial Statement Data (in thousands of dollars)
Fiscal Year 2016-2017 7,086,759
Fiscal Year 2015-2016 5,413,818
Variance (+Increase / -Decrease) 1,672,941
Percentage (+Increase / -Decrease) 31%
Explanation of Major Variances Variance $ Variance %

The increase in transfer payments to Indigenous People is mainly due to an augmentation in funding as provided in Budget 2016 to:

  • Improve housing in First Nations Communities.
  • Strengthen on reserve water and wastewater infrastructure.
  • Invest in other projects community infrastructure projects.
  • Provided greater investment in primary and secondary education for First Nations.
  • Provide safe shelter for victims of family violence living in First Nations Communities.
  • Support affordable housing in the North and Inuit communities.
  • Support investments in energy and electrical systems in First Nations communities.
  • Support investments in a range of complementary infrastructure such as broadband connectivity and physical infrastructure related to fire protection services.
  • Promote the economic development and prosperity for Indigenous peoples.
 795,291 15%
The increase can be explained by various settlements for special and specific claims in 2016-17 related to First Nations rights and interests. 393,096 7%
The increase can also be explained by an increase in the expense related to provision for doubtful direct loans. The provision for direct loans issued to support negotiation for comprehensive lands claims increased after it was determined that the collectability of over $90M of loans was not reasonably assured. 82,104 2%
Total Explained 1,270,491 24%
Total Unexplained 402,450 7%

C 2 – Claims and Litigation (Transfer Payments)

(Financial Reporting Account 51171)
(2016-17 INAC Financial Statements Note 8)

Financial Statement Data (in thousands of dollars)
Fiscal Year 2016-2017 1,448,525
Fiscal Year 2015-2016 1,161,582
Variance (+Increase / -Decrease) 286,943
Percentage (+Increase / -Decrease) 25%
Explanation of Major Variances
This expense represents the increase in the Provision for Claims and Litigation for specific claims, special claims and comprehensive claims. The annual expense for 2016-2017 has increased in comparison with the annual expense for 2015-16.

The provision for claims increased mainly due to an increase in the provision for Comprehensive Land Claims (+$118M) which is due to the inflationary changes and population increases as well as an increase of four financial mandates which was partially offset by one settlement ($61M). The Specific Claims provision increased by $779M due to new claims with a likely status that were added to the inventory (+$577M), changes in valuation due to claims progressing through the process and changes in typology for an increase of (+$778M) which was partially offset by the settlement of 18 claims ($248M) as well as the removal of 28 claims ($327M). In addition, the Special Claims provision increased by $551M due to three new likely claims added to the special claims (+681M) which was partially offset by the settlement of two claims ($130M).

C 3 – Provincial/Territorial Governments and Institutions

(Financial Reporting Account 51139)

Financial Statement Data (in thousands of dollars)
Fiscal Year 2016-2017 968,887
Fiscal Year 2015-2016 980,821
Variance (+Increase / -Decrease) -11,934
Percentage (+Increase / -Decrease) -1%
Explanation of Major Variances Variance $ Variance %
The decrease is mainly due a decline in funding for the Emergency Management Assistance Program (EMAP, specifically for the suppression of wildfires on reserve lands in Saskatchewan $15.8M and Alberta $5.9M. The funding is dependent on the occurrence of natural disasters, which varies annually. -21,755 -2%
In addition, the overall decrease was caused by a reduction of financing to the Quebec Ministry of Finance for capital projects (i.e. schools) for the Cree, Kativik and Naskapis school boards. Based on the funding agreement, the Ministry of Québec contributes to these capital projects on a cost sharing basis. There were less expenditures in 2016-2017 as compared to 2015-2016 which resulted in a decrease of transfer payments as a result. -5,220 -1%
The overall decrease was offset by an increase in funding to implement comprehensive land claims and self-government agreements with the Nanatsiavut government, which varies based on the projected Inuit population as well as the price index. 5,517 1%
The increase in funding which was provided in-part in Budget 2016 to better support shelters serving victims of family violence living in First Nations communities also contributed to the offsetting amount. 9,341 1%
Total Explained -12,117 -1%
Total Unexplained 183 0%

C 4 – Industry

(Financial Reporting Account 51171)

Financial Statement Data (in thousands of dollars)
Fiscal Year 2016-2017 88,047
Fiscal Year 2015-2016 76,507
Variance (+Increase / -Decrease) 11,540
Percentage (+Increase / -Decrease) 15%
Explanation of Major Variances Variance $ Variance %
The increase can be explained by:
  • An increase in contributions to provide income support to on-reserve residents, the majority residing in the Saskatchewan region.
  • An increase in contributions to support access to healthy foods in isolated northern communities provided in Budget 2016.
  • An increase in contributions for promoting the safe use, development, conservation and protection of the North's natural resources, and promoting scientific development provided in Budget 2016.
  • An increase in contributions to support the construction and maintenance of community infrastructure provided in Budget 2016.
 10,386 13%
Total Explained 10,386 13%
Total Unexplained 1,154 2%

C 5 – Non-Profit Organization

(Financial Reporting Account 51179)

Financial Statement Data (in thousands of dollars)
Fiscal Year 2016-2017 67,452
Fiscal Year 2015-2016 55,881
Variance (+Increase / -Decrease) 11,571
Percentage (+Increase / -Decrease) 21%
Explanation of Major Variances Variance $ Variance %
The increase in transfer payment to Non-Profit Organizations in 2016-17 is mainly due to an increase in funding provided to the Canadian Red Cross Society for emergency assistance because of a rise in the number of emergencies (e.g. evacuation of the Chemawawin Cree Nation due to a wildfire and Long Plain Band due to tornados) in First Nation communities. 8,321 15%
Funding provided to the Centre Intégré increased during 2016-2017 due to a rise in the daily remuneration rate (i.e. +40%) paid to foster families hosting young person's starting January 1st, 2016.  6,872 12%

The overall increase was offset by a decrease in funding provided to Northern Waterworks after the completion of a major capital infrastructure project related to First Nations Water and Wastewater Action Plan.

 -2,324 -4%

Funding provided to NAV Canada for emergency accommodation facilities to host First Nation evacuees also decreased as INAC had sufficient accommodations from other more northern host municipalities.

-3,088 -6%
Total Explained 9,781 18%
Total Unexplained 1,790 3%

C 6 – Other

(Financial Reporting Account 51119)

Financial Statement Data (in thousands of dollars)
Fiscal Year 2016-2017 903
Fiscal Year 2015-2016 660
Variance (+Increase / -Decrease) 243
Percentage (+Increase / -Decrease) 37%
Explanation of Major Variances Variance $ Variance %
The increase is due to a rise in transfer payments related to the following:
  • There was an increase in payments to individuals for claims pertaining to the Indian Residential Schools Independent Assessment Process.
  • In addition, there was a rise in transfer payments for environmental consulting services related to contaminated sites in the North which resulted from increased funding provided in Budget 2016
 243 37%
Total Explained 243 37%
Total Unexplained 0 0%

C 7a – Refunds/Adjustments to Prior Years' Expenditures (Transfer Payments)

(Financial Reporting Account 51118, 51119, 51139, 51159, 51171, 51179)

Financial Statement Data (in thousands of dollars)
Fiscal Year 2016-2017* -34,709
Fiscal Year 2015-2016* -48,785
Variance (+Increase / -Decrease) 14,076
Percentage (+Increase / -Decrease) -29%
* The amounts for both fiscal years have been adjusted to include refunds/adjustments to G&C PAYEs, which were incorrectly mapped under Refunds/Adjustment to Prior Years' Expenditures (O&M).
Explanation of Major Variances Variance $ Variance %
The decrease is mainly due to more recoveries recorded in 2015-16 as compared to 2016-17 for transfer payments paid to various recipients in previous years', resulting from ineligible expenditures and/or unexpended funding. This is consistent with the amount of accounts receivable setup for overpayments. 13,780 -28%
Total Explained 13,780 -28%
Total Unexplained 296 -1%

C 7b – Refunds/Adjustments to Prior Years' Expenditures (O&M)

(Financial Reporting Account 51311, 51321 and 51726)

Financial Statement Data (in thousands of dollars)
Fiscal Year 2016-2017* -1,818
Fiscal Year 2015-2016* -5,267
Variance (+Increase / -Decrease) 3,449
Percentage (+Increase / -Decrease) - 65%
* The amounts for both fiscal years have been adjusted to remove refunds/adjustments to G&C PAYEs, which were incorrectly mapped under Refunds/Adjustment to Prior Years' Expenditures (O&M).
Explanation of Major Variances Variance $ Variance %
The decrease was mainly due to more recoveries from external $1.3M and other government departments $1.3M in 2015-16. 2,649 -50%
In addition, a higher amount of payables at year-end for salaries and wages were cleared during 2015-16 related to unused and/or surplus amounts established in 2014-15 as compared to the amount of payables at year-end cleared during 2016-2017. 583 -11%
Total Explained 3,232 -61%
Total Unexplained 217 -4%

C 8 – Environmental Liabilities (Transfer Payments)

(Financial Reporting Account 51171)
(2016-2017 INAC Financial Statement Note 9)

Financial Statement Data (in thousands of dollars)
Fiscal Year 2016-2017 -271,873
Fiscal Year 2015-2016 398,200
Variance (+Increase / -Decrease) -670,073
Percentage (+Increase / -Decrease) -168%
Explanation of Major Variances Variance $ Variance %
The variance represents the change in the environmental liability and corresponding expense that is allocated to transfer payment expenses.    
Southern Region:
In 2015-2016, a statistical model (Golder model) was developed to estimate the liability for unassessed sites based on historical costs of contaminated sites with similar functions. As a result, in 2015-2016, a liability estimate and a corresponding expense of $217M was recorded for 991 unassessed sites.  In 2016-2017, the liability for unassessed sites decreased by $91.5M to $126.4M for 1,195 sites.

In addition, in 2015-2016, a liability of $2M was recorded for six unassessed based on an extrapolation. In 2016-2017, there was no additional expense related to these sites.

In addition, a net decrease of $13.3M of the environmental liability is due to:
  • A decrease of $34.8M for actual remediation expenses incurred during 2016-2017,
  • An increase of cost estimates of $16.4M;
    $4.4M in additional liabilities for 17 new sites; and
  • An increase due to the variance in inflation and net present value rates accounted for a decrease of $0.7M.
  • In 2015-2016, the G&C transfer payment expense was $240M. Therefore, the total variance between 2015-16 and 2016-17 is $348M. 
 -347,731 -87%
Northern Region:
The expenses of ($165M) is related to  the following:
  • Decrease due to the modification of estimates of project costs and impacts of inflation of $126M; and
  • Decrease due to actual remediation expenditures reducing liabilities in the amount of $39M which was partially funded through Budget 2016.
  • In 2015-2016, an amount of $157M was allocated to G&C expenses. Thus, the total variance between 2015-16 and 2016-17 is $322M.
 -322,342 -81%
Total Explained -670,073 -168%
Total Unexplained 0 0%

C 9 – Claims and Litigation (Operating Expenses)

(Financial Reporting Account 51171)
(2016-17 INAC Financial Statements Note 8)

Financial Statement Data (in thousands of dollars)
Fiscal Year 2016-2017 2,066,591
Fiscal Year 2015-2016 -248,251
Variance (+Increase / -Decrease) 2,314,842
Percentage (+Increase / -Decrease) 932%
Explanation of Major Variances
The expense represents the change in the Provision for Claims and Litigation. The provision includes litigation claims, non-litigation claims and Indian Residential Schools Claims. The annual expense for 2016-2017 has increased significantly as compared to the annual expense for 2015-16.

The provision for litigation claims increased by $2,145M. During 2016-2017, $2,617M in new legal risk assessment for claims were added to the inventory which was partially offset by the settlement or removal of eight claims that decreased the provision by $472M.

In addition, the provision for Indian Residential Schools Claims (IRS) decreased by $78M in 2016-17 due 1,871 claims that were resolved and an increase in the zero dollar award rate which results in a lower estimated liability.

In 2015-2016, the expense allocated to operating expenses was decreased by $248M. Therefore, the total variance between 2015-16 and 2016-17 is $2,315M.

C 10 – Professional and Special Services

(Financial Reporting Account 51321)

Financial Statement Data (in thousands of dollars)
Fiscal Year 2016-2017 195,302
Fiscal Year 2015-2016 212,789
Variance (+Increase / -Decrease) -17,487
Percentage (+Increase / -Decrease) -8%
Explanation of Major Variances Variance $ Variance %
The decrease is due to a decline in expenditures for adjudicator services of $8.9M, as a result of fewer hearings for claims related to the Independent Assessment Process (IAP), which is currently winding-down.  -8,892 -4%
Due to the completion of the Truth and Reconciliation Commission of Canada in December 2015, expenditures for other professional services for document disclosure activities decreased by approximately $7.2M. -7,192 -3%
The completion of remediation work for contaminated mining sites in the North West Territories resulted in a net decrease of engineering and architectural expenditures in the amount of $11M. -11,021 -5%
The decrease in professional and special services was offset primarily by an increase in expenditures for management consulting services of approximately $3M for activities such as asset management, infrastructure and capacity, and resources management. 3,074 1%
Scientific and research services for site monitoring and assessments related to northern land, resources, and environmental management  increased by $1,5M, whereas research contracts for aboriginal rights and interests, governance and management support, and residential schools resolution programs increased by $1.6M. 3,089 1%
Business services related to accounting and audit, other government department acquisition services, and storage and warehousing services increased by $2.4M. 2,380 1%
Total Explained -18,562 -9%
Total Unexplained 1,075 1%

C 11 – Court Awards and Other Settlement

(Financial Reporting Account 51722)

Financial Statement Data (in thousands of dollars)
Fiscal Year 2016-2017 177,145
Fiscal Year 2015-2016 552,206
Variance (+Increase / -Decrease) -375,061
Percentage (+Increase / -Decrease) -68%
Explanation of Major Variances
The 2016-2017 net decrease in the Court Awards and Other Settlements of $375M is due to the following:
  • Decrease of $278M in settlements of litigation claims;
  • Decrease of $107M due to the total number of settlements for Indian Residential Schools Claims; and
  • An increase of $9M due to two out of courts awards litigation claims payments.

C 12 – Information Services

(Financial Reporting Account 51321)

Financial Statement Data (in thousands of dollars)
Fiscal Year 2016-2017 7,142
Fiscal Year 2015-2016 9,306
Variance (+Increase / -Decrease) -2,164
Percentage (+Increase / -Decrease) -23%
Explanation of Major Variances Variance $ Variance %
The overall Information Services Expenditures decreased in 2016-17.    
The majority of variance is related to a decline in expenditures for the Indian Residential Schools Resolution Health Support Program crisis line. -2,221 -24%
Total Explained -2,221 -24%
Total Unexplained 57 -1%

C 13 – Other (Operating Expenses)

(Financial Reporting Account 51192, 51321, 51511, 51631, 51635, 51711, 51726, 51729, 51733)

Financial Statement Data (in thousands of dollars)
Fiscal Year 2016-2017 5,225
Fiscal Year 2015-2016 9,875
Variance (+Increase / -Decrease) -4,650
Percentage (+Increase / -Decrease) -47%
Explanation of Major Variances Variance $ Variance %
  • During 2016-2017, there was a decrease of $4.07M in miscellaneous expenditures. This is mostly explained by a one-time payment of $4.6M that was made to the province of British Columbia for cost sharing in 2015-2016. No such payments were made in 2016-2017. Slightly offsetting the decrease in miscellaneous expenses was a reimbursement of $997K that was recorded in 2016-2017. This amount pertains to a 2009 Audit Royalty adjustment where Diavik Diamond Mine Inc. was reimbursed an amount of $845K plus $152K in interests.
  • The expense related to provision for losses on loan guarantees declined by $155K in 2016-2017.
  • There was a decline of $212K in payments made from the environmental studies research fund.
 -4,437 -45%
Total Explained -4,437 -45%
Total Unexplained -213 -2%

C 14 – Environmental Liabilities (Operating Expenses)

(Financial Reporting Account 51321)
(2016-2017 INAC Financial Statement Note 9)

Financial Statement Data (in thousands of dollars)
Fiscal Year 2016-2017 -98,739
Fiscal Year 2015-2016 366,463
Variance (+Increase / -Decrease) -465,202
Percentage (+Increase / -Decrease) -127%
Explanation of Major Variances Variance $ Variance %
This represents the change in the environmental liability balance and corresponding expense which is allocated to operating expenses.

The operating expenses of $98.7M in 2016-2017 is as a result of the following:
  • Actual remediation expenses reducing the liability incurred in 2016-2017 of $97.7M; and
  • A decrease in the project and financial cost of $4.7M,
This decrease is offset by the following:
  • A decrease of expected recoveries of $3.3M; and
  • An increase of $0.4M for the liability for 12 unassessed sites. 
In 2015-2016, the expense allocated to operating expenses was $366M. Thus, the total variance between 2015-16 and 2016-17 is $465M.		 -465,202 -127%
Total Explained -465,202 -127%
Total Unexplained 0 0%

C 15 – Expenses incurred on behalf of Government

(Financial Reporting Account 51732, 51171; Authority F152)

Financial Statement Data (in thousands of dollars)
Fiscal Year 2016-2017 -96,870
Fiscal Year 2015-2016 -15,877
Variance (+Increase / -Decrease) -80,993
Percentage (+Increase / -Decrease) 510%
Explanation of Major Variances Variance $ Variance %
Expenses incurred on behalf of Government are a line item within the Statement of Operations as per the government reporting standards. INAC does not hold the account within its financial reporting system and it is reported only for presentation purposes.

Expenses incurred on behalf of Government are an offset to the gross expenses and are calculated from the INAC's bad debt expenses related to loans and interest receivable (assets held on behalf of government).

When bad debt expenses increase, the expenses incurred on behalf of Government decrease. If the bad debt expenses decrease, the expenses incurred on behalf of Government increase. 		   
Direct Loans - in 2016-2017, there was a significant increase in the expense related to the provision for direct loans. The provision for direct loans issued to support negotiation for comprehensive lands claims increased after it was determined that the collectability of $91.2M of loans receivable was not reasonably assured. In 2015-2016, the expense for this item was $9.1M. - 82,104 517%
Guaranteed Loans - The bad debt expense related to guaranteed loans was lower than in 2015-2016 as a result of $6.7M of loans meeting the criteria for bad debt during 2015-2016. During 2016-2017, an additional $5.6M in loans were assessed as uncollectible and recorded as such, however this amount was lower than in the previous year. 1,111 -7%
Total Explained -80,993 510%
Total Unexplained 0 0%

Part D – Revenues – Note 20 – Segmented Information (Unaudited)

As at March 31

(in thousands of dollars) 2017 2016 Year-Over-Year Variance Explained Unexplained Reference
      $ % % %  
Revenues
Resource royalties 852 17,821 (16,969) -95% -95% 0% D1
Norman Wells project profits - 10,471 (10,471) -100% -100% 0% D2
Interest on loans 5,952 3,829 2,123 55% 56% -1% D3
Miscellaneous 5,343 2,968 2,375 80%      
Leases and rentals 977 1,445 (468) -32%      
Finance and administrative services 2,264 2,448 (184) -8% -8% 0% D4
Revenues earned on behalf of Government (11,202) (35,681) 24,479 -69% -70% 1% D5
Total Revenues 4,186 3,301 885 27%      

NOTE: Revenues earned on behalf of Government
All revenues, except "Finance and administrative services" and "Gain on sale of crown assets", are included in Revenues earned on behalf of Government.

D 1 – Resource Royalties

(Financial Reporting Account 42311)

Financial Statement Data (in thousands of dollars)
Fiscal Year 2016-2017 852
Fiscal Year 2015-2016 17,821
Variance (+Increase / -Decrease) -16,969
Percentage (+Increase / -Decrease) -95%
Explanation of Major Variances Variance $ Variance %
The resource royalty decreased by $16.9M in oil and gas as a result of the Northwest Territories (NWT) devolution. -16,969 -95%
Total Explained -16,969 -95%
Total Unexplained 0 0%

D 2 – Norman Wells Project Profits

(Financial Reporting Account 42129)

Financial Statement Data (in thousands of dollars)
Fiscal Year 2016-2017 0
Fiscal Year 2015-2016 10,471
Variance (+Increase / -Decrease) -10,471
Percentage (+Increase / -Decrease) -100%
Explanation of Major Variances Variance $ Variance %
The Norman Wells Project is not currently producing due to the decommissioning of Enbridge Line 21. No royalties are due from the project. -10,471 -100%
Total Explained -10,471 -100%
Total Unexplained 0 0%

D 3 – Interest on Loans

(Financial Reporting Account 42129)

Financial Statement Data (in thousands of dollars)
Fiscal Year 2016-2017 5,952
Fiscal Year 2015-2016 3,829
Variance (+Increase / -Decrease) 2,123
Percentage (+Increase / -Decrease) 55%
Explanation of Major Variances Variance $ Variance %

INAC's interest revenue is obtained from direct loans and defaulted guaranteed loans. In fiscal year 2016-2017, the increase of interest revenue was mainly from defaulted guaranteed loan program and the explanation is as below.

    
Defaulted guaranteed loans:
Interest revenue increased significantly as compared to 2015-2016 due to a large correction that was done in 2015-16 which corrected an overstatement.		 2,178 57%
Direct Loans:
The interest on the Native Claimants loans program decreased by $414 K because of the ongoing settled claims repayment resulting in a reduction of the principal amount. Consequently, the interest charged on these loans decreases accordingly.

In addition, the interest on loans issued to support First Nations participating in the British Columbia Treaty Commission increased by $359 K. This is because the one loan became payable in 2016 and began accruing interest.

The total effect on interest revenue is a reduction of $55 K.		 -55 -1%
Total Explained 2,123 56%
Total Unexplained 0 -1%

D 4 – Finance and administrative services

(Financial Reporting Account 42320)

Financial Statement Data (in thousands of dollars)
Fiscal Year 2016-2017 2,264
Fiscal Year 2015-2016 2,448
Variance (+Increase / -Decrease) -184
Percentage (+Increase / -Decrease) -8%
Explanation of Major Variances Variance $ Variance %
Information technology services:
The decrease is a result of a decline in revenues received from the Public Health Agency of Canada and Health Canada related to services for the Grants and Contribution Information Management System.		 -252 -10%
Human resources management services:
The increase of $67K is related to an increase in the number of demands for conflict resolution with Public Prosecution Services of Canada and an increase in the number of participants to the Aboriginal Leadership Development Initiative.		 67 3%
Total Explained -185 -8%
Total Unexplained 1 0%

D 5 – Revenues earned on behalf of Government

(Financial Reporting Account 42129, 42312, 42314, 42315, 42319, 42541, 42631, 42711, 42719, 42733, 42129, 42311, 42312, 42314, 42541, 42719, 42311)

Financial Statement Data (in thousands of dollars)
Fiscal Year 2016-2017 -11,202
Fiscal Year 2015-2016 -35,681
Variance (+Increase / -Decrease) 24,479
Percentage (+Increase / -Decrease) -69%
Explanation of Major Variances Variance $ Variance %
Revenues earned on behalf of Government are a line item within the Statement of Operations as per the government reporting standards. Though maintaining accounting control, INAC has no authority regarding their disposition.

Revenues earned on behalf of Government are an offset to the gross revenues and are reported only for presentation purposes.

The majority of the variance related to Resource royalties and Norman Wells project profits. 		   
Resource royalties

The decline in revenues for resource royalties is a result of the NWT devolution. As of April 2014, the government of Northwest Territories collected royalties on behalf of INAC. According to devolution agreement, INAC will not collect resource royalties in the future. 		17,269 -48%
Norman Wells project profits

The revenue collected from Norman Wells project dropped to zero in 2016-2017 as a result of the decommissioning of the Enbridge pipeline. 		10,471 - 29%
Guarantee deposits

The increase in the guarantee deposits was mainly because Nunavut region received a land security deposit with the amount of $2.49M.		 -2,488 7%
Total Explained 25,252 -70%
Total Unexplained -773 1%

Part E - Other

E 1 – Parliamentary Authorities – Budgetary Authorities Provided and Used

(2016-2017 INAC Financial Statement Note 3b)

Financial Statement Data (in thousands of dollars)
Current Year Authorities Provided 9,514,746
Current Year Authorities Used 9,132,505
Authorities Available for Future Years 34,412
Lapsed Amount 347,829
Percentage Lapsed 4%
Explanation of Lapsed Amount Lapsed $ Lapsed %
Funds deferred from 2016-17 to future years for various initiatives to be used for the same intended purposes (note some are still in the approval process). Major items include:
  • Specific Claims Settlement Fund ($191.4M)
  • Indian Residential Schools Settlement Agreement ($51.7M)
  • Federal Contaminated Sites ($50.4M)
  • Various other initiatives ($24.4M) (e.g. Out-of-court settlement, Canadian High Arctic Research Station, and Saskatchewan Treaty Land Entitlement Tax Loss Compensation Fund)
317,869 4%
Budget Carryforwards
  • Operating budget carryforward ($9.3M)
  • Capital budget carryforward ($7.7M)
 17,029 0%
Remaining Balance
  • Unused funds for targeted initiatives ($2.5M)
  • Funding set aside for a variety of purposes ($9.9M) (e.g. Budget 2016 reduction in professional services, travel and advertising, and future collective bargaining pressures)
 9,593 0%
Subtotal 347,369 4%
Net Lapse * 460 0%
Notes:
* The above information is current as of July 28, 2017. It is subject to change as the re-profile requests have not all been approved by the Department of Finance at this time. Should some of these requests be refused, the result could be a corresponding increase in the net lapse.

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