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$ Change | Future-Oriented 2012–13 |
Future-Oriented 2011–12 |
|
---|---|---|---|
Total Expenses | (3,126) | 155,973 | 159,099 |
Total Revenues | (25) | 453 | 478 |
Net Cost of Operations | (3,101) | $ 155,520 | $ 158,621 |
$ Change | Future-Oriented 2012–13 |
Future-Oriented 2011–12 |
|
---|---|---|---|
Total assets | 17,645 | 67,304 | 49,659 |
Total liabilities | (3,023) | 19,541 | 22,564 |
Equity | 20,471 | 47,763 | 27,095 |
Total | 17,448 | 67,304 | 49,659 |
The main variation shown in the Equity and the total of assets is respectively attributable to the funding received for the fit-up work for the Collection Storage Facility with a high-density shelving system and the capitalization of this work as capital assets. Please refer to the Expenditure Profile for more details on this project.
As for the decrease in total liabilities, it is mainly due to a reduction of the accrued liability for severance benefits. Following the ratification of new collective agreements, employees have accepted the elimination of severance benefits for voluntary separation, namely for retirement or resignation. The anticipated accrued liability reduction is attributable to employees who will opt to cash out their accumulated benefits in 2012–13.
Future-oriented financial statements can be found on the LAC website.
All electronic supplementary information tables found in the 2012–13 Reports on Plans and Priorities can be found on the Treasury Board of Canada Secretariat website.
Library and Archives Canada
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Fax: 613-995-6274
www.bac-lac.gc.ca/Pages/default.aspx
www.collectionscanada.gc.ca
Mark Melanson
Senior Director General and Chief Financial Officer
Library and Archives Canada
550 de la Cité Blvd.
Gatineau, Quebec K1A 0N4
Telephone: 819-934-4627
Fax: 819-934-5262
Email: mark.melanson@bac-lac.gc.ca
Stéphan Déry
Director General, Strategic Planning, Infrastructures and Operations Branch
Library and Archives Canada
550 de la Cité Blvd.
Gatineau, Quebec K1A 0N4
Telephone: 819-934-5876
Fax: 819-934-5266
Email: stephan.dery@bac-lac.gc.ca