18.4 Procedures
Receiver General Manual - Chapter 18 Top of the page Navigation
Legend
R: Revision
18.4.1 Forms Preparation
All amounts are to be rounded to the nearest thousand dollars (ensure that no decimals are input in the CC Forms as they cause rounding issues during the consolidation process). Balances and transactions of $100,000 and above are to be individually reported under each category/heading except where specifically mentioned otherwise.
For some items listed under 18.4.2 (Assets, Liabilities and Equity), 18.4.3 (Revenues and Expenses), 18.4.4 (Equity Accounts), 18.4.6 (Supplementary Information on borrowings, contingent liabilities and contractual obligations), 18.4.7 (Change in Accounting Policies or Unusual Transactions), 18.4.8 (Reconciliation between International Financial Reporting Standards (IFRS) and Public Sector Accounting Standards (PSAS)) and 18.4.9 (Insurance Programs), Crown corporations and other reporting entities must report the outstanding balances at the end of each quarter and revenue and expense results on a cumulative basis from April 1 to the end of each quarter. Items listed under 18.4.5 (Annual Supplementary Information on capital assets and assets under capital leases) report transactions from April 1 to March 31, and balances as at March 31.
R Balances and transactions with Government organizations or Crown corporations and other reporting entities must be shown separately on Forms CC-1, CC-1a, CC-2 and CC-2a for statement of financial position items and Forms CC-3, CC-3a and CC-3b for revenue and expense items (even though they may have been netted against another item in the financial statements of the entity). Similarly, Forms CC-4, CC-4a and CC-4b must show items affecting contributed surplus, accumulated profits or losses, net assets or liabilities, capital stock, other equity accounts/funds, accumulated other comprehensive income or losses and accumulated remeasurement gains or losses.
Crown corporations and other reporting entities created during the fiscal year are to be considered part of the list appearing in Appendix A or Form CC-12. This also applies to wholly-owned subsidiaries that will be presented in the Public Accounts. If a Crown corporation or another entity is sold or privatized, that entity will be deemed to be excluded from the list of Appendix A or Form CC-12 in the year after the sale or the privatization is finalized.
When shares of a Crown corporation are offered to parties outside the Government, thus reducing the Government's ownership to less than 100 percent, the Crown corporation is no longer wholly-owned and, therefore, loses its status of Crown corporation. In the event that the organization continues to be controlled by the Government of Canada, forms will still be required.
If control is not maintained, the investment in the organization will be recorded at cost and the organization will be reclassified as a portfolio investment.
The following transactions and balances must be itemized to aid in the reconciliation of transactions between the Government of Canada and each Crown corporation or other reporting entity and among Crown corporations or other reporting entities themselves:
- Amounts receivable from the Government of Canada, consolidated Crown corporations and other entities and enterprise Crown corporations and other government business enterprises:
- these amounts include trade receivables and amounts receivable under parliamentary appropriations; and,
- detail must also be provided for any holding of government-issued debt and any balance of unamortized premium or discounts relating to these instruments.
- Liabilities payable to the Government of Canada, consolidated Crown corporations and other entities and enterprise Crown corporations and other government business enterprises:
- these amounts include trade payables;
- the schedule of deferred capital funding must be completed to identify the portion of appropriations for depreciable capital assets, the amortization or any other adjustment; and,
- the maturity of borrowings from the Government of Canada for future fiscal years including accrued interest.
- Revenues and expenses with the Government of Canada or other Crown corporations and other reporting entities:
- these include revenues generated from operations, operating or capital appropriations, investments, grants/subsidies, gain on disposals of capital assets and other types of income; and,
- expenses are to be itemized as cost of sales/services, administrative, grants/subsidies, finance charges, loss on disposals of capital assets and other types of expense.
Please refer to Form CC-12 for a list of Crown corporations and other reporting entities while completing the CC Forms. Entities not listed on this form are considered third parties.
The following reporting entity reports on two or more divisions or sets of operations, funds/programs and/or special accounts in its audited financial statements. In order to properly compile data from this entity, more detail is required to identify the separate divisions, funds/programs or special accounts that are part of it.
A complete set of Forms CC-1 to CC-8 and CC-10 is required for the following division, fund/program or special account:
(Note that Forms CC-9 and CC-11 are not currently used.)
Table Summary
This table presents the Crown corporations and other entities which have separate divisions and the name of these divisions. It consists of two columns. The first column presents the name of the entities. The second column presents the divisions/funds/programs/special accounts of these entities.
| Entity | Divisions/Funds/Programs/Special Accounts |
|---|---|
| St. Lawrence Seaway Management Corporation |
|
18.4.2 Forms CC-1, CC-1a and CC-1b - Assets, and CC-2, CC-2a, CC-2b-1, CC-2b-2, CC-2b-3, CC-2b-4, CC-2b-5, CC-2c, CC-2d and CC-2e - Liabilities and Equity
18.4.2.1 Forms CC-1, CC-1a and CC-1b - Assets, and CC-2, CC-2a, CC-2c, CC-2d and CC-2e - Liabilities and Equity
R Forms CC-1 and CC-2 are designed to distinguish between financial and non-financial assets, liabilities and equity accounts. Assets and liabilities are in turn segregated between third parties, the Government of Canada, enterprise Crown corporations and other government business enterprises (OGBE) and consolidated Crown corporations and other entities. The financial position items listed on the forms are those most commonly used. Financial position items not specifically listed on the forms should be identified separately under "Other" with an appropriate description.
Forms CC-1a and CC-2a are required to facilitate the reconciliation of trade receivables/payables, appropriations receivable/payable between the Government of Canada and each Crown corporation and other reporting entity and among Crown corporations and other reporting entities. Individual balances of $1 million or more should be identified and balances of less than $1 million can be grouped together to make up the total reported on Forms CC-1 and CC-2. This supporting detail is only required for March 31.
For investments with the Government of Canada and Crown corporations and other reporting entities reported on Form CC-1, details of any unamortized discounts/premiums or unrealized fair value gains/losses of these financial assets must be provided on Form CC-1a. The specification of the investment certificate (e.g. Marketable Bonds, Treasury Bills, etc.) as well as the certificate series and maturity date is required for adjustments in the Public Accounts of Canada. When applicable, details must be provided on Form CC-1a for March 31, preliminary and final submissions.
Borrowings from third parties reported on Form CC-2 must include accrued interest. The end of period balance should agree with the corresponding accounts reported on Form CC-6.
Borrowings and notes payable from the Government of Canada reported on Form CC-2 must include accrued interest. The end of period balance should agree with the corresponding amounts reported on Form CC-2e.
When applicable, the schedule for "deferred capital funding" on Form CC-2a must be completed for March 31, preliminary and final submissions.
Any equity that by statute is to be used for the benefit of a certain group of third parties should be reported as other liabilities, with the appropriate description.
All Crown corporations and other reporting entities must report the financial instruments information on Form CC-1b and CC-2c. These forms are designed to gather information on financial instruments even when they are also presented elsewhere in the entity's forms submission. The forms require the Government of Canada values based upon PSAS, the Fair values and General Ledger values. However, only consolidated Crown corporations and other entities must report the Government of Canada values based upon PSAS. Financial instruments information for the following categories of financial assets and financial liabilities must be reported:
- available-for-sale financial assets;
- R financial assets or financial liabilities held for trading or at fair value through profit or loss;
- held-to-maturity investments; and,
- other (please specify).
R Note that the amount in the column "Government of Canada PSAS value" of Form CC-1b refers to the amount measured under the Canadian PSAS before the release of the new PS 3450-Financial Instruments, which is not yet adopted by the Government of Canada. Consequently, PS 3030-Temporary Investments, PS 3040-Portfolio Investments and PS 3050-Loans Receivable are still in force in measuring the "Government of Canada PSAS value".
All Crown corporations and other reporting entities must report the financial position item "Environmental Liabilities" on Form CC-2. Consolidated Crown corporations and other entities must also complete Form CC-2d which is designed to provide more detailed information regarding "remediation liabilities for contaminated sites" and "future asset restoration liabilities". Consolidated Crown corporations and other entities which have reported future asset restoration liabilities must provide a detailed breakdown of that category including the Government of Canada lending rate and the amount for each item presented. Form CC-2d is only required for March 31, preliminary and final submissions.
Note that contingent liabilities associated with contaminated sites, i.e., remediation related to litigation, should be reported on Form CC-6a for enterprise Crown corporations and other government business enterprises, and on Form CC-6b for consolidated Crown corporations and other entities.
Enterprise Crown corporations and other government business enterprises are required to report additional information on the borrowings and notes payable from the Government of Canada. Form CC-2e requires detail on any unamortized (discount)/premium and any unrealized gains/(losses) on borrowings or notes payable from the Government of Canada. This information is used to eliminate any unrealized inter-organizational gains and losses as required by the modified equity basis of accounting.
18.4.2.2 Forms CC-2b-1, CC-2b-2, CC-2b-3, CC-2b-4 and CC-2b-5 - Liabilities - Supporting Details, Pensions and Other Employee Future Benefits
Forms CC-2b-1, CC-2b-2, CC-2b-3, CC-2b-4 and CC-2b-5 are applicable only to consolidated Crown corporations and other entities identified in Appendix A. The CC Forms are designed to report information related to pensions and other employee future benefits and are used to prepare the Public Accounts of Canada.
R In order to accurately report pensions and other employee future benefits in the Public Accounts of Canada, it is important that the information provided is complete and accurate and is presented in the established format and in accordance with these instructions. The Government and the Crown corporations and other entities may account for and present the information differently in their respective financial statements; therefore, some realignment or modification may be necessary to conform with the basis of accounting followed by the Government and with the presentation of the CC Forms.
R Prior to last year, when the differences between Canadian Generally Accepted Accounting Principles (GAAP) and Canadian Public Sector Accounting Standards (PSAS) were not significant, the position of the Government of Canada was to allow consolidated Crown corporations and other entities to report pensions and other employee future benefits in the CC Forms using their basis of accounting. However, in 2011-2012, when a significant number of Crown corporations and other entities transitioned to International Financial Reporting Standards (IFRS), specific instructions were required and provided because of the need to convert from IFRS to PSAS for the purpose of reporting in the Public Accounts of Canada. One exception to this requirement was the use of discount rates; specifically, Crown corporations and other entities were allowed to continue applying discount rates required under IFRS to measure their benefit obligations under PSAS. This exception was permitted in order to prevent these Crown corporations and other entities from having to perform additional actuarial valuations using discount rates as required under PSAS.
R This year, as a result of the increased spread between the discount rates under IFRS and PSAS for funded defined benefit plans, this option is no longer viable. Consequently, to ensure that the information presented in the Public Accounts of Canada is free of material misstatement, all consolidated Crown corporations and other entities that transitioned to IFRS and have funded defined benefit plans will be required, for the purpose of reporting in the CC Forms, to re-measure annually their benefit obligations using discount rates required under PSAS, which is the "expected rate of return on plan assets".
R Note: funded plans refer to benefit plans for which assets are set aside; these plans also include those benefit plans that are partially funded and therefore are in a deficit position.
R In 2012-2013, the opening accrued benefit obligation must be re-measured using the appropriate discount rate and the adjustment should be recognized immediately in the current year benefit expense as a one-time re-measurement loss.
R Re-measuring the unfunded benefit plans in the current year is not mandatory.
R Note: unfunded plans are referred to as benefits plans for which no assets are set aside.
R However, these organizations must ensure that they complete the sensitivity analysis which will allow the Office of the Comptroller General (OCG) to assess whether the impact of the difference between IFRS and PSAS discount rates is material. Because of materiality, and/or depending on the individual circumstances of each organization, the OCG may request additional information or set other specific reporting requirements in order to ensure full compliance with PSAS.
R Considering the fact that accounting for pensions and other employee future benefits is a complex matter and that no information session took place this year, as well as the fact that last year's conversion from IFRS to PSAS was not uniform in terms of approach (i.e. some organizations applied the transition retroactively while others applied it prospectively; some chose not to re-measure their obligations using discount rates as required under PSAS while others chose to re-measure), the OCG will likely be contacting some organizations individually to ensure that the information is captured, reported and consolidated correctly for the purpose of the Public Accounts of Canada.
R As in the prior year, Crown corporations and other entities are required to continue to report actuarial gains and losses from the date of transition to the new accounting standards in accordance with PSAS (see guidance provided in the related sections below).
R CC Forms are designed so that only the combined totals for all funded pension plans, all unfunded pension plans and all other employee future benefits are reported.
R Ensure that all amounts/items are properly reported and classified; the use of the "Other" category should be kept to a minimum (if the category "Other" is used, provide an appropriate description based on the nature of the amount/item).
R Note: When filling out the CC Forms, do not override the cells, specifically the cells that contain pre-populated formulas and links to other CC forms (presented in greyed-out cells).
CC-2b-1 - Reconciliation of Future Benefit Asset (Liability)
Part A:
The purpose of Part A of Form CC-2b-1 is to reconcile the defined benefit plans to the amount presented in the statement of financial position as at March 31. Amounts should be entered as follows:
- Accrued benefit obligation, end of year
- This amount is carried-forward from Form CC-2b-2 where it is calculated. The amount should be entered as a negative value on the schedule.
- Plan assets, end of year
- This amount is carried-forward from Form CC-2b-2 where it is calculated. The amount should be entered as a positive value on the schedule.
- Unamortized net actuarial loss or (gain)
- R In 2011-2012, following the transition to IFRS, some consolidated Crown corporations and other entities chose to recognize actuarial gains and losses immediately as incurred, in their IFRS financial statements. For Public Accounts purposes, all organizations are required to account for and report post-transitional actuarial gains and losses in accordance with PSAS. Therefore, consolidated Crown corporations and other entities must continue to defer and amortize actuarial losses and gains over the expected average remaining service life of employees (EARSL). Amortization may commence in the period following the determination of the actuarial loss/gain. Accelerated amortization may occur following a plan amendment, curtailment or settlement.
The unamortized net actuarial gains (losses) represents the amount as at the Crown corporation or other entity's year end. The amount should be entered as a negative value for unamortized net actuarial gains and as a positive value for unamortized net actuarial losses. - Amounts after measurement date up to March 31
- If the measurement date is other than March 31, the amount of employer contributions made to funded plans and benefits paid directly by the Crown corporation or other entity for unfunded plans between the measurement date and March 31 should be recorded in the reconciliation to arrive at the amount of Future Benefit Asset (Liability) at March 31. For unfunded plans, benefits paid by corporations after the measurement date should be recorded in the reconciliation.
- Valuation allowance
- This amount represents the excess of an adjusted benefit asset over the expected future benefit; the Public Sector Handbook provides guidance on the limit of the carrying amount of an accrued benefit asset.
- Future benefit Asset (Liability), net of valuation allowance March 31
- It is important to ensure that the amount of future benefit asset (liability), net of valuation allowance, as at March 31, equals the amount presented on the Statement of Liabilities and Equity (Form CC-2). Therefore, if this amount does not equal the amount in Form CC-2, variances should be explained in the section "Other amounts not included in the above reconciliation"; details of the nature and amount of the variances should be provided.
- Additional Information
- For the benefit plans that are in a deficit position (not fully funded plans) and unfunded plans, provide a breakdown of the accrued benefit obligation and plan assets (if applicable) at March 31.
Part B:
R The purpose of Part B of Form CC-2b-1 is to provide continuity schedules which help to reconcile the future benefit asset (liability) and unamortized net actuarial gain (loss). If calculated amounts do not agree to the amounts in Part A, details of the nature and amount of the variances should be provided. The greyed-out cells are linked to other CC Forms to ensure that proper amounts are included in the reconciliation. These cells should not be overridden. The information on the variances must be entered into the blank cells only (i.e. opening balances, stub period adjustments from prior year, one-time adjustments).
CC-2b-2 - Reconciliation of Accrued Benefit Obligation and Plan Assets
- Reconciliation of Accrued Benefit Obligation
- R The reconciliation of the accrued benefit obligation is based on the Crown corporation or other entity's measurement date.
R As mentioned above, effective in 2012-2013, all consolidated Crown corporations and other entities that transitioned to IFRS should measure and report in the CC Forms the accrued benefit obligation of the funded benefit plans in accordance with PSAS using the "expected rate of return on plan assets" as a discount rate. Therefore, organizations that did not re-measure their obligation under PSAS in 2011-2012 will be required to adjust the opening accrued benefit obligation of their funded benefit plans through a one-time remeasurement loss due to the change in discount rate.
The accrued benefit obligation at the beginning of the year should be the amount of accrued benefit obligation at the end of the year reported in the prior year's CC Form. - Reconciliation of Plan Assets
- This portion of the reconciliation pertains only to funded and partially funded defined benefit plans.
Unfunded defined benefit plans do not have plan assets; therefore, no amount of contributions and benefits paid should be reported in the reconciliation. This presentation may differ from the presentation used in the Crown corporation and other entity's financial statements, where benefits paid and matching amount of contributions may be recorded.
The reconciliation of the plan assets is based on the Crown corporation or other entity's measurement date.
Plan assets at the beginning of the year should be the amount of plan assets at the end of the year reported in the prior year's CC form.
Actuarial gains or (losses) on plan assets represent the difference between the actual and the expected return on plan assets. The expected return on plan assets and the actuarial gains or (losses) on plan assets must be disclosed separately. Special consideration should be given to this item as the presentation required in the CC Form may vary from the presentation used in the Crown corporation and other entity's financial statements.
Contributions receivable from employees for past service is not included in investments but is shown as a separate line item. - Additional Information
- Provide additional information as requested in this section.
CC-2b-3 - Expense
Total expense for the year comprises the benefit expense and net interest expense which should be reported separately both in the Form CC-2b-3 and in the Statement of Revenue and Expenses (Form CC-3).
- Benefit expense
- Total benefit expense, as presented in the supporting schedule, is comprised of defined benefit plan expense, defined contribution plan expense and multi-employer plan expense accounted for as defined contribution plan, as applicable.
- Defined benefit plan expense
- The amount related to each component of the defined benefit plan expense must be provided.
R This year, as a result of the increased spread between the discount rates under IFRS and PSAS for funded defined benefit plans, the use of IFRS discount rates is no longer viable. Consequently, to ensure that the information presented in the Public Accounts of Canada is consistent and free of material misstatement, all consolidated Crown corporations and other entities that transitioned to IFRS and have funded defined benefit plans will be required to re-measure their opening accrued benefit obligations using discount rates required under PSAS, which is the "expected rates of return on plan assets". The adjustment should be recognized immediately in the current year benefit expense as a one-time re-measurement loss.
R The employer's cost of benefits earned (benefits earned less employee contributions) and the cost of plan amendments, settlements and curtailments should equal to the amounts reported in the reconciliation of the accrued benefit obligation (Form CC-2b-2). The amortization of actuarial gains (losses) pertains to the actuarial gains (losses) after the date of the Crown corporation or other entity's transition to new accounting standards as they have to be accounted for in accordance with PSAS. Under PSAS, the actuarial losses and gains should be amortized over the EARSL. Amortization may commence in the period following the determination of the actuarial gains (losses).
Accelerated amortization may occur following a plan amendment, curtailment or settlement and the amount must be reported on a separate line.
Termination benefits include early retirement window enhancements, closure benefits and severance benefits relating to a reorganization or downsizing.
When a defined benefit plan gives rise to an accrued benefit asset, a valuation allowance should be recognized for any excess of the adjusted benefit asset over the expected future benefit. A change in valuation allowance should be recognized in the statement of operations for the period in which the change occurs. - Net interest expense
- R The amount of interest on the average accrued benefit obligation and the expected return on the average value of the investments should equal to the amounts reported in the reconciliation of plan assets (Form CC-2b-2).
CC-2b-4 - Supplementary Information
This section is used to provide an overview of all the future benefit plans accounted for by the Crown corporation or other entity as well as any changes to the plans that took place during the year.
- Overview of benefit plans
- The name of the future benefit plan and a brief overview of the plan for each of the categories indicated in the CC Form should be provided. The overview is only required if it is different from the description provided in the Crown corporation or other entity's prior year Annual Report. If the description of the plan did not change, please indicate "No change" in the "Plan overview" column. For the categories that do not apply, please indicate "Does not apply" in the "Name of the plan" column. If the number of future benefit plans in one category exceeds the number of lines provided, insert additional lines as required.
- Overview of funding policy
- The name of the future benefit plan and a brief overview of the way it is financed should be provided. For example, a plan could be financed from employee and employer contributions, as well as investment earnings, or retired plan members could contribute to a specific plan in order to obtain coverage. The overview is only required if it is different from the description provided in the Crown corporation or other entity's prior year Annual Report. If the description of the funding policy did not change, please indicate "No change" in the "Funding policy" column. Insert additional lines as required.
- Overview of significant changes to the plans during the year
- If applicable, provide the name of the future benefit plan and a description of the change that occurred during the year (i.e. plan amendment, curtailment or settlement).
If the number of the future benefit plans that were changed during the year exceeds the number of lines provided, insert additional lines as required. - Contributions made and benefits paid from April 1 to March 31
- The amount of contributions made and benefits paid presented in the reconciliations may cover a 12 month period (i.e. Crown corporation or other entity's period) that differs from the Government of Canada reporting period (April 1 to March 31). Similarly, any additional information on the amount of contributions made and benefits paid presented in the Crown corporation or other entity's Annual Report may cover a period that differs from the Government of Canada reporting period. Therefore, please provide the amount of contributions made and benefits paid from April 1 to March 31. Note that the amount of contributions made pertains only to funded and partially funded defined benefit plans. Unfunded defined benefit plans do not have plan assets; therefore, no amount of contributions should be recorded.
R The health care and dental plans for the Government's retired employees are contributory plans, whereby contributions by retired plan members are made to obtain coverage. If the Crown corporation or other entity has contributory future benefit plans, provide the amount of contributions made by retired plan members from April 1 to March 31. If there are no contributory future benefit plans, indicate "N/A" in the space provided. The Crown corporation or other entity's costs and benefits paid must be presented net of these contributions in the reconciliations and supporting expense schedule.
CC-2b-5 - Assumptions, Actuarial Valuation and Sensitivity Analysis
- Assumptions
- R The rates used in valuating the accrued benefit obligations and benefit and interest expenses should be presented in the format specified in the CC Form.
For each of the benefit plans, indicate the EARSL. If the number of benefit plans for which the information is requested exceeds the number of lines provided, insert additional lines as required. - R Actuarial valuations
- R For each of the benefit plans, indicate the date of the most recent valuation for funding purposes. If the number of benefit plans for which the information is requested exceeds the number of lines provided, insert additional lines as required.
- R Sensitivity analysis
- R All consolidated Crown corporations and other entities must report the sensitivity analysis in the format specified in the CC Form.
R As mentioned above, re-measuring the unfunded benefit plans under PSAS in the current year is not mandatory. However, these entities must ensure that they complete the sensitivity analysis which will allow the OCG to assess whether the impact of the difference between IFRS and PSAS discount rates is material. Because of materiality, and/or depending on the individual circumstances of each organization, the OCG may request additional information or set specific reporting requirements in order to ensure full compliance with PSAS.
R 18.4.3 Forms CC-3, CC-3a and CC-3b - Revenues and Expenses and Form CC-3c - Other Comprehensive Income
Revenue and expense transactions, by categories, on a cumulative basis from April 1 to the end of quarter reporting date
Revenues must be identified as to the source from which they are generated - such as operations, appropriations, investments, grants/subsidies, gain on disposals of capital assets and other types of income.
Expenses include cost of sales and services, administrative, pension and other employee future benefits, grants/subsidies, finance charges and amortization of capital assets as well as income taxes, loss on disposals of capital assets and other types of expense. The financial information is cumulative from April 1 of each year to the closing date of each quarter and includes the March 31 preliminary and final amounts to cover the period of 12 months.
When exact amounts are not available, estimates may be used.
For the various categories of revenues and expenses, identify revenue and expense amounts of transactions with Government organizations listed in Appendix B, Crown corporations and other reporting entities listed in Appendix A or Form CC-12 or third parties and classify in the appropriate column. Note that amortization expenses fall under third parties.
R Enterprise Crown corporations and other government business enterprises reporting under IFRS in the CC Forms must report net unrealized fair value adjustments on financial instruments at fair value through profit or loss separately in the Form CC-3 (even though it may have been netted against another item in the financial statements of the entity). Ensure the amounts reported are properly classified between Transactions with the Government of Canada, Transactions with Crown corporations or other reporting entities and Transactions with third parties to allow for reconciliation with Form CC-1a.
R Consolidated Crown corporations and other entities reporting under PSAS in the CC Forms must report net unrealized fair value adjustments on financial instruments in the fair value category and unrealized foreign exchange gains/losses in the Statement of Remeasurement Gains and Losses (Form CC-4b).
For March 31 preliminary and final submissions, individual revenue and expense transactions with a Government organization, a Crown corporation or other reporting entity included in the Government reporting entity totaling $1 million and above should be listed separately by Government department, Crown corporation or other reporting entity on Forms CC-3a and CC-3b.
Form CC-3a provides details of the revenues reported on Form CC-3 from the Government of Canada, Crown corporations or other reporting entities. Transactions with Government organizations, Crown corporations or other reporting entities totaling $1 million and above must be listed separately. All other transactions should be aggregated and shown as one amount; a detailed listing is optional. If space on the form is insufficient, additional lines may be inserted.
Amounts as well as the proper Government organization, Crown corporation or other reporting entity must be listed according to the proper revenue category if the information is available.
Form CC-3b is the equivalent form for reporting expense transactions with the Government of Canada, Crown corporations and other reporting entities; only transactions totaling $1 million and above need to be detailed, any further detail is optional.
Note that revenue totals (Form CC-3a) and expense totals (Form CC-3b) generated with the Government of Canada, Crown corporations and other reporting entities must agree with the appropriate totals on Form CC-3.
R Only enterprise Crown corporations and other government business enterprises reporting under IFRS on the CC Forms are required to report Other Comprehensive Income (OCI) on Form CC-3c. Items of OCI should be split between OCI subsequently reclassifying to profit/loss (i.e. unrealized gains/losses on available-for-sale financial assets) that is reported in Accumulated Other Comprehensive Income/Loss (Form CC-4b) and non-reclassifying OCI taken directly to Accumulated profit/loss or surplus/deficit (Form CC-4) (i.e. actuarial gains/losses). Ensure the amounts reported are properly classified between Transactions with the Government of Canada, Transactions with Crown corporations or other reporting entities and Transactions with third parties to allow for reconciliation with Form CC-1a.
18.4.4 Forms CC-4, CC-4a and CC-4b - Equity Accounts
Forms CC-4, CC-4a and CC-4b are designed to report equity transactions segregated between the Government of Canada, Crown corporations and other reporting entities, and third parties.
- Contributed Surplus
R Transactions must be identified by source as related to the Government of Canada, Crown corporations and other reporting entities, or third parties for such transactions as the receipt of additional capital, special appropriations, donations or unusual write-offs.
- Accumulated profits/losses or Net assets/liabilities
Transactions must be identified by source as related to the Government of Canada, Crown corporations and other reporting entities, or third parties for such transactions as dividends, transfers of excess funds or profits, provisions, allowances and special or unusual write-offs. Prior year adjustments must be properly described and an appropriate explanation must be provided.
R Consolidated Crown corporations and other entities reporting under PSAS on the CC Forms must exclude remeasurement gains/losses (if applicable) from the Statement of Net assets/liabilities and report them on the Statement of accumulated remeasurement gains/losses (Form CC-4b).
Any change in accounting policy resulting in a restatement must be substantiated by completing Form CC-7 and must reflect a description of the change and the quantitative impact on the financial statements items.
R Enterprise Crown corporations and other government business enterprises reporting under IFRS on the CC Forms must report the total of non-reclassifying OCI for the year (Form CC-3c) on this form.
- Capital Stock
Transactions related to capital stock such as new issues or restructuring must be identified on Form CC-4a.
- R Other Equity Accounts/Funds
The name of other equity accounts/funds must be provided. Note that reserves are included in this category. Transactions in this type of equity account/fund must be identified; the nature of the change must also be reflected on Form CC-4a.
- Accumulated Other Comprehensive Income or Losses
Form CC-4b is designed to gather information related to the accumulated other comprehensive income or losses of enterprise Crown corporations and other government business enterprises.
R Enterprise Crown corporations and other government business enterprises must report on this form the total of reclassifying OCI for the year (from Form CC-3c) and the amounts reclassified to profit/loss during the year.
- Accumulated Remeasurement Gains or Losses
Form CC-4b is designed to gather information related to accumulated remeasurement gains or losses of consolidated Crown corporations and other entities which have early adopted PSAS 3450-Financial Instruments, PSAS 2601-Foreign Currency Translation, as well as PSAS 1201-Financial Statement Presentation.
The amounts reported in the Accumulated Remeasurement Gains or Losses generally arise from:- unrealized gains and losses attributable to financial instruments in the Fair Value category such as derivatives and portfolio investments in equity instruments that are quoted in an active market; and,
- unrealized exchange gains and losses in a foreign currency.
Some entities have several equity accounts categories. Forms CC-4 and CC-4a must be used to detail any changes in such equity accounts/funds.
The above financial information is cumulative from April 1 to the closing date of each quarter. March preliminary and final amounts represent twelve (12) months of financial information.
Note that the end of period balance of the equity accounts must agree with the corresponding equity accounts reported on Form CC-2.
18.4.5 Forms CC-5, CC-5a, CC-5b and CC-5c - Annual Supplementary Information
Forms CC-5 1, CC-5a1, CC-5b, CC-5c1 are designed to report transactions or information related to capital assets, assets under capital leases, obligations related to capital leases, amortization policies, information on works of art or similar items and other supplementary information.
- Details of Transactions relating to Capital Assets
The schedule provides details of capital assets and amortization thereof covering the 12 month period ending March 31 of the current year. Amounts should be entered as follows:- Categories of capital assets
- R The categories of capital assets represent the main categories of tangible capital assets, and work in progress on tangible capital assets.
- Opening balance April 1
- The opening balance as at April 1 is the amount reported as the closing balance as at March 31 of the previous period.
- Acquisitions during the year
- The acquisitions during the year represent the cost of capital assets acquired during the twelve (12) month period ending March 31.
- Sales, disposals and write-offs
- The sales, disposals or write-offs in capital assets consist of the elimination of the original cost of the capital assets sold, traded in, disposed of or written-off during the twelve (12) month period ending March 31.
The sales, disposals or write-offs in accumulated amortization consist of the elimination of the accumulated amortization related to capital assets that have been sold, traded in, disposed of or written-off during the period.
- Works in progress transfers
- Works in progress transfers to capital assets categories are reported in this column by reporting a negative amount (reduction) next to the Work in progress account and a positive (increase) one next to the appropriate capital asset. The total impact of this transfer should be nil.
- Other transactions
- The other transactions represent any adjustments made to capital assets and/or accumulated amortization except acquisitions, sales, disposals, write-offs and trade-ins.
For other transactions over $1Â million, provide a detailed description of the adjustment.
- Amortization for the year
- The amortization for the year represents the charge made to reflect the economic usage of the assets during the twelve (12) month period ending March 31.
- Closing balance March 31
- The closing balance as at March 31 represents the original cost of the asset still owned by the entity (capital assets) or the total accumulated amortization related to the closing balance of the capital assets.
- Net Book Value Balance at March 31
- The net amount must agree with that reported on the financial position item on Form CC-1 as of March 31 of the current period.
- Proceeds on disposition of capital assets during the year ending March 31
- Amounts received for capital assets sold or as a trade-in allowance are shown in total on a separate line.
- 1. Details of Transactions relating to Assets under Capital Leases
The following information is required:- Categories of assets under capital leases
- The categories of assets under capital leases represent the main categories of leased capital assets.
- Opening balance April 1
- The opening balance as at April 1 is the amount reported as the closing balance as at March 31 of the previous period.
- Acquisitions during the year
- The acquisitions during the year represent the cost of capital assets acquired under a capital lease during the twelve (12) month period ending March 31.
- Disposals and write-offs
- Disposals and write-offs consist of the elimination of the original cost of the assets under a capital lease disposed of or written-off during the twelve (12) month period ending March 31.
The disposals or write-offs in accumulated amortization consist of the elimination of the accumulated amortization related to assets under capital leases that have been disposed of or written-off during the period. - Works in progress transfers
- Works in progress transfers to capital assets categories are reported in this column by reporting a negative amount (reduction) next to the Work in progress account and a positive (increase) one next to the appropriate capital asset. The total impact of this transfer should be nil.
- Other transactions
- The other transactions represent any adjustments brought to assets under capital leases and/or accumulated amortization except acquisitions, disposals and write-offs.
For other transactions over $1Â million, provide a detailed description of the adjustment. - Amortization for the year
- The amortization for the year represents the charge made to reflect the economic usage of the assets during the twelve (12) month period ending March 31.
- Closing balance March 31
- R The closing balance as at March 31 represents the original cost of the asset still owned by the entity (assets under capital leases) or the total accumulated amortization related to the closing balance of the assets under capital leases.
- Net Book Value Balance at March 31
- The net amount must agree with that reported in the financial position item on Form CC-1 as of March 31 of the current period.
2. Obligations related to Capital Leases
The following information is required for capital leases with total remaining minimum lease payments at March 31 that exceed $1Â million. All capital leases with total remaining minimum lease payments of less than $1 million can be grouped and reported together on the form.- Identification of capital lease
- Identify the equipment by specific type. Describe a building by name and location. Describe a land by location and, if applicable, the building to which it is related.
- Inception date and lease term in years
- Represents the starting date of the lease and the term in years.
- Total remaining minimum lease payments
- The total planned or agreed remaining payments to be made over the term of the lease, excluding executory costs. This amount represents the total outstanding obligation.
- Discount rate
- This is the rate used to calculate the net present value of the minimum lease payments and should be the lower of the Government's rate for incremental borrowing (also referred to as Government of Canada lending rates) and the interest rate implicit in the lease, if practical to determine.
- Imputed interest
- The amount of interest deemed to be included in the total minimum lease payments, using the appropriate discount rate. Note - executory costs must be excluded from the total minimum payments when calculating imputed interest.
- Net obligations related to capital lease agreements
- Represents the remaining lease payments less the imputed interest and executory costs. This amount must agree with the amount reported on Form CC-2.
- Payments due each of the subsequent five years and thereafter
- In these columns, the total remaining minimum lease payments and the imputed interest are allocated by year and must agree with the total reported.
All leases where the total remaining lease payments at March 31 are less than $1Â million are to be reported in aggregate on one line. In this case, the inception date, lease term and discount rate columns do not need to be filled in. All remaining columns are to be filled in. - Interest expense on capital leases recorded in the current year
- Portion of payments made in the current year representing the interest portion.
- Supplementary Information on Capital Assets
Details of capital assets administered by the Crown corporation or other reporting entity on behalf of the Government, a Minister, or any other government organization for which the cost or part of the cost is not recorded in the financial statements. This information will be used to evaluate the completeness of reporting of capital assets by all Government departments and agencies.
R The following three items of information are required only by consolidated Crown corporations and other entities for note disclosure purposes in the audited consolidated financial statements of the Government of Canada:- Information when the organization acquires capital assets from the Government that are recorded at a value other than the original cost of acquisition (e.g. assets that were transferred from the Government at market value).
- Information when the organization receives a contribution in the form of a tangible capital asset during the year.
- A description of the asset and its use if the organization carries tangible capital assets that are recorded at nominal value.
- Amortization Policies and Other Supplementary Information
The amortization policies table represents the amortization method used by asset type as well as useful life in years or applicable rate for each asset account, as recommended in the amortization policy.
When different components of an item of Capital Assets have different useful lives, they may be accounted for as separate items of Capital Assets and are amortized over their respective useful lives. When this approach is adopted, the amortization policies table must present the Useful Life or Rate information as a range of Useful Lives or Rates for each asset type.
Supplementary Information on Works of Art or Similar Items is required for the notes to the consolidated financial statements. Information is required if the organization holds museum collections, works of art, or historical treasures that have cultural, aesthetic or historical value that are worth preserving perpetually. Provide a brief description and the net book value, if applicable.
18.4.6 Forms CC-6, CC-6a and CC-6b - Supplementary Information
Form CC-6 is for reporting borrowing transactions, accrued interest, maturity and currency of borrowings from third parties.
- Borrowings from Third Parties, including Accrued Interest
This portion of the form should be filled out each quarter by all Crown corporations and other entities. It shows borrowings, accrued interest and repayment transactions with third parties, segregated between borrowings guaranteed by the Government and other borrowings.
Please note that new borrowings are cumulative from April 1 to the end of the period and are not new borrowings recorded during the reporting quarter. The opening balance at April 1 should be equivalent to your March 31 input of the previous fiscal year and should not change throughout the year.
Borrowings guaranteed by the Government may not necessarily be limited only to Crown corporations borrowing as agents of Her Majesty. Incorporation legislation or governing Acts may also expressly state the guarantee status applicable to borrowings.
- Maturity of Borrowings from Third Parties, including Accrued Interest
This portion of the form is only to be completed on an annual basis; it details the amount of minimum borrowing repayments for each of the following five years and should include the accrued interest. This information is at March 31 of the current period and should agree in total with the amount shown on Form CC-2. In addition, for each year of the following five years and subsequent years, calculate the average interest rate for all issues. If variable or prime plus interest rates exist for some borrowings, the total borrowings and the estimated interest rate should be disclosed as a footnote in a note to the schedule.
Details by borrowing instrument must be reported by the consolidated entities only and the total must be reported by all Crown corporations and other reporting entities. The minimum borrowing repayments must agree with the amount shown in the financial position item on Form CC-2, and with the borrowing from third parties amount reported in (a) on Form CC-6.
- Currency of Borrowings from Third Parties, including Accrued Interest
This portion of the form is only to be completed on an annual basis and the total amount of borrowings from third parties, including accrued interest, as at March 31 of the current year should be segregated between amounts payable in Canadian dollars and amounts payable in foreign currencies. The amount of Canadian dollar equivalent value must be presented and the total amount must agree in total with the amount shown in the financial position item on Form CC-2, and with the minimum borrowing repayments listed in (b) on Form CC-6.
- Terms and Conditions by Borrowing Instrument
This portion of the form is to be completed on an annual basis by the consolidated entities only, and provides the detailed terms and conditions of each borrowing instrument.
Contingent Liabilities and Contractual Obligations
Form CC-6a is designed to report the contingent liabilities and contractual obligations of enterprise Crown corporations and other government business enterprises.
Form CC-6b is designed to report on contractual obligations and contingent liabilities of consolidated Crown corporations and other entities only. These entities should refer to the PSAS: PS 3300-Contingent liabilities, PS 3310-Loan guarantees and PS 3390-Contractual Obligations, as required.
- Contingent Liabilities
Contingent Liabilities, as reported in the notes to the audited consolidated financial statements of the Government of Canada, must be reported by major category. Forms CC-6a and CC-6b provide space for a description of contingent liabilities by category. Categories may include, for example, claims and litigations, loan guarantees, contingent liabilities associated with contaminated sites, etc. Contingent liabilities associated with contaminated sites are any estimated remediation costs of which the Government's obligation to incur such costs is uncertain, i.e. remediation related to litigation. Remediation estimates for contaminated sites where the Government's obligation to incur such costs has been assessed and evaluated are reported on Form CC-2d "Remediation liabilities for contaminated sites".
Enterprise Crown corporations and other government business enterprises are to complete Form CC-6a on a quarterly basis. The total of all known contingent liabilities are to be reported under the appropriate category.
Consolidated Crown corporations and other entities are to complete Form CC-6b on a quarterly basis. All known contingent liabilities requiring disclosure are to be reported under the appropriate category. For claims and litigations, the amount claimed by the plaintiff, the legal counsel's best estimate of potential liability, and management's best estimate of potential liability must also be reported. Where either of these amounts is not-estimable, report the value as N/E. For guarantees, a complete listing should be provided. For each guarantee, provide the authorized limit, the principal amount outstanding and the allowance recorded (if applicable).
A distinction should be made between items where a liability has been recorded and items where only disclosure is required.
- Contractual Obligations
There are two different forms depending on the type of entity (as listed in Appendix A or Form CC-12).
- Enterprise Crown corporations and other government business enterprises are to complete Form CC-6a. Include all contractual obligations as at March 31.
- Consolidated Crown corporations and other entities are to complete Form CC-6b for all contractual obligations with an outstanding balance at March 31 that exceeds $10 million per project or individual transaction, if not part of a project.
- Enterprise Crown corporations and other government business enterprises are to complete Form CC-6a. Include all contractual obligations as at March 31.
18.4.7 Form CC-7 - Change in Accounting Policies or Unusual Transactions
Form CC-7 is designed to gather information pertaining to changes in accounting policies or unusual transactions. For each change in accounting policy, the description of the change and the effect of the change on the financial statements should be disclosed. The disclosure of particulars, including dollar amounts, applies to each change in accounting policy.
The classification of a transaction as unusual requires significant judgment. Unusual transactions usually fall outside the normal operating activities of the entity, and as a result, are not expected to occur on a regular basis. Significant unusual transactions are recorded on Form CC-7 and may be separately disclosed in the Public Accounts of Canada. Please include a brief description of any unusual transaction that has occurred during the period that may result in a difference in accounting policies as compared to the Government's accounting policies.
For consolidated Crown corporations and other entities, the accounting policies must conform to the accounting policies used by the Government of Canada. Please include a brief description of any unusual transaction that has occurred during the period that may result in a difference in accounting policies as compared to the Government's accounting policies. If an accounting interpretation has been based upon another primary source of generally accepted accounting principles, a description should be provided with the impact on the financial statements.
Early adoption of accounting standards, including early adoption of PSAS, which may differ from the Government's accounting policies, must be disclosed on this CC Form with a description of the impact on the financial statement components along with the associated amounts.
18.4.8 Form CC-8 - Reconciliation between International Financial Reporting Standards and Public Sector Accounting Standards
Consolidated Crown corporations who have adopted IFRS as their basis of accounting are to complete Form CC-8 on a quarterly basis. On this form, the reconciliation between accounting policies from IFRS to PSAS must be described and the impact on the financial statements must be presented by financial statement item with the corresponding amount, as listed on the assets, liabilities, equity, revenues, expenses and contingent liabilities forms.
18.4.9 Form CC-10 2 - Insurance Programs
This form is applicable to Canada Deposit Insurance Corporation (CDIC), Canada Mortgage and Housing Corporation (CMHC), Export Development Canada (EDC) and other Crown corporations or reporting entities operating insurance programs with third parties.
General requirements:
- A separate Form CC-10 for each insurance program administered.
- Amounts reported should be on a comparative basis, current period with those of the previous period.
- Any restatement of the previous period's amounts as well as any major changes from one quarter to another must be explained.
Specific requirements:
- amount of insurance in force as at the reporting date;
- the opening balances of the fund as at April 1 for the current and previous period;
- total revenues credited to the fund for the period April 1 to the end of the quarter being reported, classified under premiums and fees, investment income, appropriations and other revenues and the total revenues for the period;
- total expenses debited to the fund for the period April 1 to the end of the quarter being reported, classified under loss on claims paid or provided for, the interest paid on corporate borrowings, administrative expense, funds returned to the Government and other expenses and the total expenses for the period;
- the profit (loss) for the period;
- the closing balance of the fund at the reporting date which should agree to the relative totals reported in the corporate fund general ledger and balance to the total of (A) plus or minus (D) shown on Form CC-10. For Export Development Canada, only the revenues and expenses are reported on the Form CC-10 with appropriate notes relative to the provision maintained by the corporation;
- amount of net claims paid and accrued during the year at the reporting date. This amount represents the difference between claims paid and amounts received from sales of related assets or other recoveries. For the period ended March 31 of a fiscal year, this amount must cover the 12 month period from April 1 to March 31;
For quarterly reports, the amount reported must be the amount of the net claims paid from April 1 to the end of the quarter being reported. Amounts reported for the previous year must be reported on the same basis and any restatement of the previous year's amounts must be explained. If recoveries are higher than claims paid, a negative amount (surplus) must be shown. Indicate a surplus by a minus sign "-" preceding the amount reported.
If there are no claims and no recoveries due to the inactivity in the fund, the abbreviation for not applicable (N/A) must be used.
Note: The reporting of net claims is to be cumulative in all reports - e.g., the report for December 31 will cover net claims for the nine months April to December, and is not to be restricted to the months of October, November and December.
- average of annual net claims paid over the most recent sixty months (5 years). For reports submitted for periods ending March 31 of a fiscal year, this amount must be for the 60 month period, from April 1 to March 31 of the current and previous four fiscal years;
R For quarterly reports, the amount to be reported must be for the 60 month period ending with the quarter being reported - e.g. from October 1, 2008 to September 30, 2013 for the current fiscal year and similarly for the five previous fiscal years ending on September 30 of the previous fiscal year. Amounts reported for the previous fiscal year and quarters must be on the same basis and any restatement of the previous fiscal year's amounts must be explained. If the recoveries are higher than the average claims paid in the 60 month period, negative amounts (surplus) must be shown.
If there are no claims and no recoveries due to the inactivity in the fund, the abbreviation for not applicable (N/A) must be used. - when an actuarial valuation is undertaken on the adequacy of the fund or allowance, the result must be disclosed by way of a note; and,
- factors or events that had a material effect on the operation or financial position of the insurance fund or allowance, which occurred during the period being reported. A concise description of such events and factors should be prepared, as this information may be used as footnotes to the Government's Summary of Insurance Programs of agent Crown corporations.
18.4.10 Form CC-12 - List of Crown corporations and Other Reporting Entities
In order to facilitate the completion of CC Forms, a list of Crown corporations and other reporting entities has been included for an easier access. The same list can be found in Appendix A of this chapter.
18.4.11 Annual Report
All Crown corporations and other reporting entities are required to submit a copy of their audited financial statements to Treasury Board, as per section 150 of the Financial Administration Act (FAA).
For parent Crown corporations, where if wholly-owned subsidiaries are non-consolidated, a copy of the audited financial statements of the parent Crown corporation and of each wholly-owned subsidiary is required.
Address for submissions
Jessica Murrell
Information Asset Manager
Government Operations Sector
Treasury Board of Canada Secretariat
L'Esplanade Laurier - Floor 7
140 O'Connor Street
Ottawa, Canada K1A 0R5
Facsimile: 613-957-0160
Email: Jessica.Murrell@tbs-sct.gc.ca
18.4.12 Frequency of Reporting
Crown corporations and other reporting entities with projected annual revenues of less than $10,000,000 are only required to submit their CC Forms for the March 31 preliminary and final submissions. The projected annual revenues must be for the Government fiscal year (i.e., April 1 to March 31). When applicable, a letter of confirmation to this effect, duly signed by the officer referred to in section 18.2, must be forwarded to the Receiver General on or before July 31. Please note that this date also coincides with the June 30 submission reporting due date.
R As of March 31 and for each subsequent calendar quarter, each Crown corporation and other reporting entity is required to submit CC Forms according to the following summary.
Table Summary
This table presents the CC Forms to be submitted for each quarter. It consists of six columns. The first column presents all the CC Forms. The second column indicates if the CC Forms presented in the first column have to be completed or not for the March 31 preliminary report. The third column indicates if the CC Forms presented in the first column have to be completed or not for the March 31 final report. The fourth column indicates if the CC Forms presented in the first column have to be completed or not for the June 30 report. The fifth column indicates if the CC Forms presented in the first column have to be completed or not for the September 30 report. The sixth column indicates if the CC Forms presented in the first column have to be completed or not for the December 31 report.
| CC Forms | March 31 Preliminary | March 31 Final | June 30 | Sept. 30 | Dec. 31 |
|---|---|---|---|---|---|
| CC-1 | All | All | All 3 | All 3 | All 3 |
| CC-1a | All | All | |||
| CC-1b | All | All | |||
| CC-2 | All | All | All 3 | All 3 | All 3 |
| CC-2a | All | All | |||
| R CC-2b-1 to CC-2b-5 | Consolidated entities | Consolidated entities | |||
| CC-2c | All | All | |||
| CC-2d | Consolidated entities | Consolidated entities | |||
| Revision CC-2e | Enterprise Crown and OGBE | Enterprise Crown and OGBE | |||
| CC-3 | All | All | All 3 | All 3 | All 3 |
| CC-3a | All | All | |||
| CC-3b | All | All | |||
| R CC-3c | Enterprise Crown and OGBE | Enterprise Crown and OGBE | Enterprise Crown and OGBE 3 | Enterprise Crown and OGBE 3 | Enterprise Crown and OGBE 3 |
| CC-4 | All | All | All 3 | All 3 | All 3 |
| CC-4a | All | All | All 3 | All 3 | All 3 |
| CC-4b | All | All | All 3 | All 3 | All 3 |
| CC-5 | Consolidated entities | Consolidated entities | |||
| CC-5a | Consolidated entities | Consolidated entities | |||
| CC-5b | All | All | |||
| CC-5c | Consolidated entities | Consolidated entities | |||
| CC-6 | All | All | All 3 | All 3 | All 3 |
| Revision CC-6a | Enterprise Crown and OGBE | Enterprise Crown and OGBE | Enterprise Crown and OGBE 3 | Enterprise Crown and OGBE 3 | Enterprise Crown and OGBE 3 |
| R Revision CC-6b | Consolidated entities | Consolidated entities | Consolidated entities 3 | Consolidated entities 3 | Consolidated entities 3 |
| CC-7 | All | All | All 3 | All 3 | All 3 |
| R Revision CC-8 4 | Consolidated entities | Consolidated entities | Consolidated entities 3 | Consolidated entities 3 | Consolidated entities 3 |
| R CC-10 5 | All | All | All 3 | All 3 | All 3 |
| Revision CC-12 | List of Crown corporations and other reporting entities | ||||
Note that "All" refers to all entities listed in Appendix A.
The submissions are due as follows:
Table Summary
This table presents the deadline for submission of CC Forms for each quarter. It consists of two columns. The first column presents the reporting date. The second column presents the deadline for each quarter.
| Reporting date | Submission date due on or before |
|---|---|
| Revision March 31 (preliminary amounts) | April 30 |
| March 31 (final amounts) | May 31 |
| Revision June 30 | July 31 |
| September 30 | October 31 |
| December 31 | January 31 |
R The purpose of the March 31 (final amounts) report is for publication in the Public Accounts of Canada. If there are no changes to the preliminary amounts, a final submission is not required and an e-mail will suffice.
Submission of accurate, complete and timely information by all organizations that are part of the Government reporting entity is essential to the timely preparation of the Public Accounts of Canada. It is imperative that this information be submitted on time.
18.4.13 Submission of Forms
A Transmittal Memorandum is included to summarize the forms being submitted and requires the signature of the Chief Executive Officer or Chief Financial Officer to certify the information provided and the basis of accounting used for the preparation of the CC Forms.
The memorandum covers the requirements of this chapter of the Receiver General Manual (RGM) for reporting the results and financial position of Crown corporations and other reporting entities and reporting of insurance programs administered by Crown corporations and other reporting entities.
R Crown corporations and other reporting entities must submit a copy of their forms by the due dates (see subsection 18.4.12) by mail or by e-mail to the address mentioned below.
R CC Forms in an Excel (.xls) format are available for download on the Public Accounts Instructions for Crown Corporations and Other Reporting Entities Web page or upon request by sending an e-mail to: CPCControle.PACControl@tpsgc-pwgsc.gc.ca.
Address for submissions:
Director
Central and Public Accounts Reporting Directorate
Accounting, Banking and Compensation Branch
Public Works and Government Services Canada
Place du Portage, Phase III, Floor 13A1
11 Laurier Street
Gatineau, Quebec
K1A 0S5
Facsimile: 819-956-8400
Email: CPCControle.PACControl@tpsgc-pwgsc.gc.ca
Footnotes
- Footnote 1
-
Forms CC-5, CC-5a and CC-5c are applicable only to consolidated Crown corporations and other entities identified in Appendix A or on Form CC-12.
In order to accurately report the capital asset balances in the consolidated financial statements of the Government of Canada, it is important that the following information be provided. - Footnote 2
-
Form numbers CC-9 and CC-11 are reserved for future use.
- Footnote 3
-
Organizations with projected annual revenues of less than $10,000,000, as described in subsection 18.4.12, are exempted from quarterly reporting.
- Footnote 4
-
Applicable only to consolidated Crown corporations who have adopted IFRS as their basis of accounting.
- Footnote 5
-
Applicable only to Crown corporations or other reporting entities administering funded insurance programs.
Note:
All links with this image are available only to clients with access to "Publiservice" - the official Government of Canada extranet.
Receiver General Manual - Chapter 18 Bottom of the page Navigation
- Date modified: