Geomatics Canada

Public Accounts of Canada 2024 Volume III—Top of the page Navigation

Statement of management responsibility

We have prepared the accompanying financial statements of the Geomatics Canada Revolving Fund as required by and in accordance with the Treasury Board Directive on Charging and Special Financial Authorities and the reporting requirements and standards of the Receiver General for Canada. These financial statements were prepared by management of the Fund in accordance with the significant accounting policies set out in note 2 of the financial statements, on a basis consistent with that of the preceding year.

Responsibility for the integrity and objectivity of these financial statements rests with the management of the Fund. The information included in these financial statements is based on management's best estimates and judgment with due consideration given to materiality. In order to fulfill its accounting and reporting responsibilities, the Fund maintains a set of accounts, which provides a centralized record of the Fund's financial transactions and also benefits from the advice of accounting personnel of Corporate Management and Services Sector. Financial information contained in the ministerial statements and elsewhere in the Public Accounts of Canada is consistent with that in these financial statements, unless indicated otherwise.

Corporate Management and Services Sector develops and disseminates financial management and accounting policies and issues specific directives, which maintains standards of accounting and financial management. Transactions are executed in accordance with prescribed regulations, within parliamentary authorities and are properly recorded to maintain accountability of Government funds and safeguard the Fund's assets. Financial management and internal control systems are maintained at appropriate costs and are augmented by the maintenance of internal audit programs. Management also seeks to assure the objectivity and integrity of data in its financial statements. This is accomplished by a careful selection, training and development of qualified staff, organizational arrangements that provide appropriate divisions of responsibility and communication programs aimed at ensuring that its regulations, policies, standards and managerial authorities are understood throughout the organization.

Approved by:

Grace Chennette
Director General, Deputy Chief Financial Officer
Finance and Procurement Branch

Francis Brisson
Assistant Deputy Minister and Chief Financial Officer
Corporate Management and Services Sector

June 7, 2024
Ottawa, Canada

**Table 1Statement of authority (used) provided (unaudited) for the year ended March 31, 2024**^{Links to footnote * in table 1}
(in thousands of dollars)
	Estimates^{Links to footnote 1 in table 1}	Actual	Estimates^{Links to footnote 1 in table 1}	Actual
	2024		2023
Net results	100	7	100	1,517
Items not requiring use of funds	–	159	–	264
Operating source of funds	100	166	100	1,781
Items requiring use of funds
Net tangible capital assets acquisitions	–	(negative 1,056)	–	(negative 89)
Net other assets (liabilities)	–	52	–	(negative 14)
Authority (used) provided	100	(negative 838)	100	1,678
Table 1 notes Table note * The dash means that the amount is 0 or is rounded to 0. Return to table note * referrer in Table 1 Table note 1 The amounts in the current and previous year "Estimates" columns result from, when available, the current year's Estimates, Part II—Main Estimates. Return to table note 1 referrer in Table 1

**Table 2Reconciliation of unused authority (unaudited) as at March 31, 2024**
(in thousands of dollars)
	2024	2023
Debit balance in the accumulated net charge against the Fund's authority account	3,990	4,673
Payables at year-end charged against the appropriation account after March 31	(negative 544)	(negative 389)
Net authority provided, end of year	3,446	4,284
Authority limit	5,000	5,000
Unused authority carried forward	8,446	9,284

**Table 3Statement of financial position (unaudited) as at March 31, 2024**
(in thousands of dollars)
Assets
	2024	2023
Financial assets
Accounts receivable (note 3)	210	190
Inventory	47	48
Total financial assets	257	238
Non-financial assets
Tangible capital assets (note 4)	1,609	712
Total assets	1,866	950
Liabilities and net assets
Accounts payable and accrued liabilities (note 5)	572	370
Vacation pay	145	121
Total liabilities	717	491
Net assets (note 6)	1,149	459
Total	1,866	950
Table 3 notes General notes: Contractual rights (note 7) Contingent liabilities (note 8) Contractual obligations (note 9) The accompanying notes are an integral part of these financial statements.

Approved by:

Frank Des Rosiers
Assistant Deputy Minister
Strategic Policy and Innovation Sector

June 7, 2024

**Table 4Statement of operations and net assets (unaudited) for the year ended March 31, 2024**
(in thousands of dollars)
Revenues
	2024	2023
Services	4,817	6,469
Products	420	464
Total revenues	5,237	6,933
Expenses
Salaries and employee benefits	1,952	1,262
Professional and special services	2,336	3,118
Corporate and sector services	363	362
Amortization of tangible capital assets	159	264
Utilities, materials and supplies	137	41
Rentals	126	286
Repairs and maintenance	101	30
Transportation and telecommunications	36	38
Other expenses	20	15
Total expenses	5,230	5,416
Net results	7	1,517
Net assets, beginning of year	459	146
Net financial resources provided (used) and change in the accumulated net charge against the Fund's authority, during the year	683	(negative 1,204)
Net assets, end of year	1,149	459
Table 4 notes General notes: The accompanying notes are an integral part of these financial statements.

**Table 5Statement of cash flows (unaudited) for the year ended March 31, 2024**
(in thousands of dollars)
Operating activities
	2024	2023
Net results for the year	7	1,517
Items not requiring use of funds
Amortization of tangible capital assets (note 4)	159	264
Subtotal	166	1,781
Variations in the statement of financial position
Decrease (increase) in accounts receivable (note 3)	(negative 20)	86
Decrease (increase) in inventory	1	86
Increase (decrease) in accounts payable and accrued liabilities (note 5)	202	(negative 543)
Increase (decrease) in vacation pay	24	(negative 31)
Net financial resources provided by operating activities	373	1,379
Capital investing activities
Acquisition of tangible capital assets (note 4)	(negative 1,056)	(negative 89)
Net financial resources used in capital investing activities	(negative 1,056)	(negative 89)
Net financial resources used and change in the accumulated net charge against the Fund's authority, during the year	(negative 683)	1,204
Accumulated net charge against the Fund's authority, beginning of year	4,673	3,469
Accumulated net charge against the Fund's authority, end of year	3,990	4,673
Table 5 notes General notes: The accompanying notes are an integral part of these financial statements.

Notes to the financial statements (unaudited) for the year ended March 31, 2024

1. Authority and purpose

The Geomatics Canada Revolving Fund (the Fund) was originally established under Appropriation Act No. 3 1993–1994 as the "Surveys, Mapping and Remote Sensing Sector Revolving Fund" and approval was conditional on specified conditions. The purpose of the Fund was to shift the costs of offering goods and services from taxpayers to those specific users who directly benefit from them. Subsequently, on December 8, 1994, the "Surveys, Mapping and Remote Sensing Sector Revolving Fund" was renamed the "Geomatics Canada Revolving Fund". Having met its specified conditions, permanent continuing authority for the Fund was obtained from and registered with the Treasury Board of Canada on February 9, 1995.

The Fund has received a continuing non-lapsing authority from Parliament to make payments out of the Consolidated Revenue Fund for working capital, capital acquisitions and temporary financing of accumulated operating deficits, the total of which at any time is not to exceed $5,000,000.

The Fund's mandate is to produce geomatics products, services and expertise that can be exploited commercially. Revenue-generating activities further build on this work to produce saleable products or services for specific clients in the federal government, Canadian industry, Canadian public, provinces, territories and other countries.

2. Summary of significant accounting policies

The financial statements have been prepared in accordance with the reporting requirements of the Receiver General for Canada for revolving funds. The basis of accounting used in these financial statements differs from Canadian generally accepted accounting principles for the public sector because:

the net debt indicator and the statement of change in net debt are not presented in the financial statements;
expenses are reported by type in the statement of operations and net assets and not by function or major program;
budgeted expenses are not reported in the statement of operations and net assets;
services received without charge from other government departments are not reported as expenses; and
no liability is recorded for sick leave.

The significant accounting policies are as follows:

(a) Use of estimates

The preparation of financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The most significant estimates used in the preparation of the financial statements are the amount of certain accrued liabilities and the estimated useful lives of capital assets. Actual results could differ from these estimates. These estimates are reviewed annually and as adjustments become necessary, they are recorded in the financial statements in the period in which they become known.

(b) Revenues

Revenues are recognized when products are sold or services rendered. Revenues on leases are recognized in the period to which the lease or use of property relates.

(c) Expenses

Unless otherwise disclosed, expenses are recorded in the period they are incurred. Internal service costs of Natural Resources Canada incurred on behalf of the Fund are recorded in these financial statements as corporate and sector service costs.

(d) Accounts receivable

Accounts receivable are stated at amounts expected to be ultimately realized; a provision is made for receivables when a recovery is considered uncertain.

(e) Inventory

The inventory of maps is valued at the lower of cost or net realizable value, with cost being determined using the weighted average cost of each title.

(f) Tangible capital assets

Tangible capital assets purchased by the Fund are recorded at cost. These assets are amortized on a straight-line basis over their estimated useful lives, commencing with the month subsequent to acquisition. The estimated useful lives of these assets are as follows:

Machinery and equipment                                  5 to 10 years
Informatics hardware                                           4 to 10 years
Computer software                                               4 years
Other equipment (including furniture)             10 years
Motor vehicles                                                       5 to 7 years

(g) Pension benefits

The Public Service Superannuation Act and the Supplementary Retirement Benefits Act cover employees of Natural Resources Canada whose salaries and other benefits are paid by the Fund. The Government's portion of the pension cost is included in the employee benefits expenses assessed against the Fund. Actual pension payments are made from the Public Service Superannuation and Supplementary Retirement Benefits Accounts. The Fund is not required under present legislation to make contributions with respect to actuarial deficiencies of the Public Service Superannuation Account and/or with respect to charges to the Consolidated Revenue Fund for the indexation of payments under the Supplementary Retirement Benefits Act.

(h) Vacation pay

Vacation pay is expensed as the benefits accrue to employees under their respective terms of employment.

(i) Sick leave

Employees are permitted to accumulate unused sick leave. However, such leave entitlements do not vest and may only be used in the event of illness. Payments of sick leave benefits are included in current operations as incurred.

3. Accounts receivable

**Table 6Accounts receivable**
(in thousands of dollars)
	2024	2023
Other government departments and agencies	83	32
Outside parties	131	162
Subtotal	214	194
Allowance for doubtful accounts on receivables from outside parties	(negative 4)	(negative 4)
Net accounts receivable	210	190

4. Tangible capital assets

**Table 7Cost^{Links to footnote * in table 7}**
(in thousands of dollars)
	Balance at beginning of year	Acquisitions	Adjustments, Disposals and Write-Offs	Balance at end of year
Machinery and equipment	609	797	–	1,406
Informatics hardware	669	259	–	928
Computer software	144	–	–	144
Other equipment (including furniture)	38	–	–	38
Motor vehicle	31	–	–	31
Total	1,491	1,056	–	2,547
Table 7 notes Table note * The dash means that the amount is 0 or is rounded to 0. Return to table note * referrer in Table 7

**Table 8Accumulated amortization**^{Links to footnote * in table 8}
(in thousands of dollars)
	Balance beginning of year	Amortization	Adjustments, Disposals and Write-Offs	Balance end of year
Machinery and equipment	135	79	–	214
Informatics hardware	461	72	–	533
Computer software	144	–	–	144
Other equipment (including furniture)	19	4	–	23
Motor vehicle	20	4	–	24
Total	779	159	–	938
Table 8 notes Table note * The dash means that the amount is 0 or is rounded to 0. Return to table note * referrer in Table 8

**Table 9Net book value**^{Links to footnote * in table 9}
(in thousands of dollars)
	2024	2023
Machinery and equipment	1,192	474
Informatics hardware	395	208
Computer software	–	–
Other equipment (including furniture)	15	19
Motor vehicle	7	11
Total	1,609	712
Table 9 notes Table note * The dash means that the amount is 0 or is rounded to 0. Return to table note * referrer in Table 9

5. Accounts payable and accrued liabilities

**Table 10Accounts payable and accrued liabilities**
(in thousands of dollars)
	2024	2023
Other government departments and agencies	362	261
Outside parties	210	109
Total	572	370

6. Net assets

The accumulated net charge against the Fund's authority is the non-lapsing authority amount that has been used since the inception of the Fund.

The accumulated surplus is an accumulation of each year's surpluses and deficits including the absorption of the opening net assets upon establishment of the Fund.

Contributed capital represents the value of capital assets financed from capital contributions at the inception of the Fund.

**Table 11Net assets**
(in thousands of dollars)
	2024	2023
Contributed capital	1,438	1,438
Accumulated net charge against the Fund's authority	(negative 3,990)	(negative 4,673)
Transfer of the transition payments for implementing salary payments in arrears	(negative 20)	(negative 20)
Accumulated surplus	3,721	3,714
Net assets	1,149	459

7. Contractual rights

In some instances, the activities of the Fund involve the negotiation of contracts or agreements with outside parties that result in the Fund having rights to both assets and revenues in the future. They principally involve revenues related to the provision of services. Major contractual rights that will generate revenues in the future years and that can be reasonably estimated are summarized as follows:

**Table 12Contractual rights**
(in thousands of dollars)

2025	917
2026	356
2027	134
2028	116
2029 and thereafter	343
Total	1,866

8. Contingent liabilities

In the normal course of its operations, the Fund may become involved in various legal actions. Some of these potential liabilities may become actual liabilities when one or more future events occur or fail to occur. To the extent that the future event is likely to occur or fail to occur, and a reasonable estimate of the loss can be made, an estimated liability is accrued and an expense recorded in the financial statements. As at March 31, 2024, there were no claims outstanding against the Fund.

9. Contractual obligations

The nature of the Fund's activities can result in some large multi-year contracts and obligations whereby the Fund will be obligated to make future payments in order to carry out its mandate, or when services are performed or goods received. Significant contractual obligations that can be reasonably estimated by fiscal years ending March 31 are summarized as follows:

**Table 13Contractual obligations**
(in thousands of dollars)

2025	697
2026	216
2027	35
2028	35
2029 and thereafter	795
Total	1,778

10. Related party transactions

Through common ownership, the Fund is related to all Government of Canada departments, agencies and Crown corporations. The Fund enters into transactions with such entities in the normal course of business, and these have been recorded at the exchange amount.

Public Accounts of Canada 2024 Volume III—Bottom of the page Navigation

Date modified:: 2024-12-17

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