Financial statements, March 31, 2015

7.8. Notes to financial statements: Parliamentary, special and employee termination benefits appropriation

The Canadian Grain Commission is financed by the Government of Canada through a combination of an ongoing Parliamentary appropriation, authority to re-spend fees collected, accumulated surpluses from prior years and a revolving line of credit of $2,000,000.

The government funding basis is used to recognize transactions affecting Parliamentary appropriations. The statement of operations and net assets (liabilities) is based on accrual accounting. Consequently, items presented in the statement of operations and net assets (liabilities) are not necessarily the same as those provided through appropriations from Parliament. Items recognized in the statement of operations and net assets (liabilities) in one year may be funded through Parliamentary authorities in prior, current, or future years. Accordingly, the Canadian Grain Commission has different appropriation authorities for the year on a government funding basis than on an accrual accounting basis. Details on appropriation authorities provided and used are shown in the following tables.

Appropriation authorities provided and used (in thousands of dollars), 2015 and 2014
  2015 $ 2014 $
Total appropriation funds provided 9,262 37,600
Employee termination benefits:
Frozen allotment (lapsed) (10) (1,686)
Under-spent (lapsed) (1,761) (972)
Current year appropriation funds provided and used 7,491 34,942

 

Total current year appropriation funds provided and used (in thousands of dollars), 2015 and 2014
  2015 $ 2014 $
Special appropriation 815 16,927
Employee termination benefits appropriation 1,201 12,568
Parliamentary appropriation 5,475 5,447
Current year appropriation funds provided and used 7,491 34,942