Financial Statements of the
Financial Transactions and Reports Analysis Centre of Canada (FINTRAC)

Audited

For the Year Ended March 31, 2018

Financial Statements For the Year Ended March 31, 2018 (PDF version, 162 KB)

STATEMENT OF MANAGEMENT RESPONSIBILITY INCLUDING INTERNAL CONTROL OVER FINANCIAL REPORTING (Audited)

As at March 31

Responsibility for the integrity and objectivity of the accompanying financial statements for the year ended March 31, 2018, and all information contained in these statements rests with the management of the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC). These financial statements have been prepared by management using the Government's accounting policies, which are based on Canadian public sector accounting standards.

Management is responsible for the integrity and objectivity of the information in these financial statements. Some of the information in the financial statements is based on management's best estimates and judgment, and gives due consideration to materiality. To fulfill its accounting and reporting responsibilities, management maintains a set of accounts that provides a centralized record of FINTRAC’s financial transactions. Financial information submitted in the preparation of the Public Accounts of Canada, and included in FINTRAC’s Departmental Performance Report, is consistent with these financial statements.

Management is also responsible for maintaining an effective system of internal control over financial reporting (ICFR) designed to provide reasonable assurance that financial information is reliable, that assets are safeguarded and that transactions are properly authorized and recorded in accordance with the Financial Administration Act and other applicable legislation, regulations, authorities and policies.

Management seeks to ensure the objectivity and integrity of data in its financial statements through careful selection, training and development of qualified staff; through organizational arrangements that provide appropriate divisions of responsibility; through communication programs aimed at ensuring that regulations, policies, standards, and managerial authorities are understood throughout FINTRAC and through conducting an annual risk-based assessment of the effectiveness of the system of ICFR.

The system of ICFR is designed to mitigate risks to a reasonable level based on an ongoing process to identify key risks, to assess effectiveness of associated key controls, and to make any necessary adjustments.

FINTRAC is subject to periodic Core Control Audits performed by the Office of the Comptroller General of Canada (OCG) and uses the results of such audits to comply with the Treasury Board Policy on Internal Control.

A Core Control Audit was performed in 2016–17 by the OCG. The Audit Report and related Management Action Plan are posted on FINTRAC’s website.

The firm of KPMG LLP has expressed an opinion on the fair presentation of the financial statements of FINTRAC, which does not include an audit opinion on the annual assessment of the effectiveness of the department’s internal controls over financial reporting.

___________________
Nada Semaan
Director and Chief Executive Officer
FINTRAC
Ottawa, Canada
Date: September 7, 2018
___________________
Donna Achimov
Chief Financial Officer
FINTRAC
Ottawa, Canada
Date: September 7, 2018

KPMG LLP
150 Elgin Street, Suite 1800
Ottawa, ON K2P 2P8
Canada
Telephone 613-212-5764
Fax 613-212-2896

INDEPENDENT AUDITORS' REPORT

To the Director of the Financial Transactions and Report Analysis Centre of Canada

We have audited the accompanying financial statements of the Financial Transactions and Report Analysis Centre of Canada (FINTRAC), which comprise the statement of financial position as at March 31, 2018, the statements of operations and departmental net financial position, change in departmental net debt and cash flows for the year then ended, and notes, comprising a summary of significant accounting policies and other explanatory information. The financial statements have been prepared by management in accordance with the accounting policies generally applied by the Government of Canada for government departments and agencies as stipulated in Treasury Board accounting policies.

Management’s Responsibility for the Financial Statements

Management is responsible for the preparation and fair presentation of these financial statements in accordance with the accounting policies generally applied by the Government of Canada for government departments and agencies as stipulated in Treasury Board accounting policies; this includes determining that the basis of accounting is an acceptable basis for the preparation of these financial statements in the circumstances, and for such internal control as management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

Auditors’ Responsibility

Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with Canadian generally accepted auditing standards. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on our judgment, including the assessment of the risks of material misstatement of financial statements, whether due to fraud or error. In making those risk assessments, we consider internal control relevant to the entity’s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

Opinion

In our opinion, the financial statements present fairly, in all material respects, the financial position of FINTRAC as at March 31, 2018, its net cost of its operations, change in departmental net debt and its cash flows for the year then ended in accordance with the accounting policies generally applied by the Government of Canada for government departments and agencies as stipulated in Treasury Board accounting policies.

Basis of Accounting and Restriction on Use

Without modifying our opinion, we draw attention to note 2 to the financial statements, which describes the basis of accounting. The financial statements are prepared for the information and use of the management of FINTRAC and the Treasury Board of Canada Secretariat. As a result, the financial statements may not be suitable for another purpose. Our report is intended solely for the management of FINTRAC, and the Treasury Board of Canada Secretariat, and should not be used by other parties.

KPMG LLP

Chartered Professional Accountants, Licensed Public Accountants
September 6, 2018
Ottawa, Canada

STATEMENT OF FINANCIAL POSITION (Audited)
As at March 31
  2018
(in dollars)
2017
(in dollars)
Liabilities
Accounts payable and accrued liabilities (note 4) $6,353,016 $5,041,709
Vacation pay and compensatory leave 1,684,103 1,585,349
Employee future benefits (note 5) 1,782,541 1,779,038
Total liabilities 9,819,660 8,406,096
Financial assets
Due from the Consolidated Revenue Fund 5,689,615 4,090,206
Accounts receivable and advances (note 6) 787,652 943,536
Total gross financial assets 6,477,267 5,033,742
Financial assets held on behalf of Government
Accounts receivable and advances (note 6) (97,819) (114,174)
Total financial assets held on behalf of Government (97,819) (114,174)
Total net financial assets 6,379,448 4,919,568
Departmental net debt 3,440,212 3,486,528
Non-financial assets
Prepaid expenses 482,100 605,693
Tangible capital assets (note 7) 15,921,693 13,973,427
Total non-financial assets 16,403,793 14,579,120
Departmental net financial position $12,963,581 $11,092,592

Contractual obligations (note 8)

The accompanying notes form an integral part of these financial statements.

___________________
Nada Semaan
Director and Chief Executive Officer
FINTRAC
Ottawa, Canada
Date: September 7, 2018
___________________

Donna Achimov
Chief Financial Officer
FINTRAC
Ottawa, Canada
Date: September 7, 2018


STATEMENT OF OPERATIONS AND DEPARTMENTAL NET FINANCIAL POSITION (Audited)
For the Year Ended March 31
  Planned Results
2018
(in dollars)
2018
(in dollars)
2017
(in dollars)
Expenses
Compliance Program $22,593,829 $23,028,591 $22,033,088
Financial Intelligence Program 24,703,854 24,340,683 21,549,340
Internal Services 7,773,515 9,151,458 8,521,102
Total Expenses 55,071,198 56,520,732 52,103,530
Revenues
Non-respendable revenue - 26,069 141,675
Other revenue - 151 46
Revenues earned on behalf of Government - (26,069) (141,675)
Total Revenues - 151 46
Net cost of operations before Government funding and transfers 55,071,198 56,520,581 52,103,484
Government funding and transfers
Net cash provided by Government 54,148,826 53,696,548 56,994,028
Change in due from the Consolidated Revenue Fund (476,700) 1,599,409 (1,165,465)
Services provided without charge by other government departments (note 9) 2,927,373 3,095,613 3,097,426
Transfer of assets from other government departments (note 10) - - 5,931
Net cost of operations after Government funding and transfers (1,528,301) (1,870,989) (6,828,436)
Departmental net financial position – beginning of year 10,930,033 11,092,592 4,264,156
Departmental net financial position – end of year $12,458,334 $12,963,581 $11,092,592

Segmented information (note 11)

The accompanying notes form an integral part of these financial statements.

STATEMENT OF CHANGE IN DEPARTMENTAL NET DEBT (Audited)
For the Year Ended March 31
  Planned Results
2018

(in dollars)
2018
(in dollars)
2017
(in dollars)
Net cost of operations after Government funding and transfers ($1,528,301) ($1,870,989) $(6,828,436)
Change due to tangible capital assets
Acquisition of tangible capital assets 2,462,932 2,596,456 6,999,759
Amortization of tangible capital assets (952,856) (648,190) (867,266)
Total change due to tangible capital assets 1,510,076 1,948,266 6,132,493
Change due to prepaid expenses (70,857) (123,593) 40,673
Net decrease in departmental net debt (89,082) (46,316) (655,270)
Departmental net debt – beginning of year 4,294,830 3,486,528 4,141,798
Departmental net debt – end of year $4,205,748 $3,440,212 $3,486,528

The accompanying notes form an integral part of these financial statements.

STATEMENT OF CASH FLOWS (Audited)
For the Year Ended March 31
  2018
(in dollars)
2017
(in dollars)
Operating Activities
Net cost of operations before government funding and transfers $56,520,581 $52,103,484
Non-cash items:
Amortization of tangible capital assets (648,190) (867,266)
Services provided without charge by other government departments (3,095,613) (3,097,426)
Transfer of non-capital assets from other government departments - (5,931)
Variations in Statement of Financial Position:
Increase (decrease) in accounts receivable and advances (139,529) 506,454
Increase (decrease) in prepaid expenses (123,593) 40,673
Decrease (increase) in accounts payable and accrued liabilities (1,311,307) 931,602
Decrease (increase) in vacation pay and compensatory leave (98,754) (81,987)
Decrease (increase) in employee future benefits (3,503) 464,666
Cash used in operating activities 51,100,092 49,994,269
Capital investing activities
Acquisition of tangible capital assets 2,596,456 6,999,759
Cash used by capital investing activities 2,596,456 6,999,759
Net cash provided by Government of Canada $53,696,548 $56,994,028

The accompanying notes form an integral part of these financial statements.

NOTES TO THE FINANCIAL STATEMENTS (Audited)
For the Year Ended March 31

1. Authority and objectives

The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) was legislated into existence in July 2000 to be Canada’s Financial Intelligence Unit. The Centre exists to assist in the detection, prevention and deterrence of money laundering and the financing of terrorist activities, while ensuring the protection of personal information under its control. FINTRAC’s Financial Intelligence and Compliance programs strive to disrupt the ability of criminals and terrorist groups that seek to abuse Canada’s financial system and to reduce the profit incentive of crime.

FINTRAC acts at arm’s length and is independent from the law enforcement agencies and other entities to which it is authorized to disclose financial intelligence. It reports to the Minister of Finance, who is in turn accountable to Parliament for the activities of the Centre. FINTRAC was established by, and operates within, the ambit of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) and its Regulations.

To effectively pursue its mandate, FINTRAC aims to achieve the following strategic outcome: A Canadian financial system resistant to money laundering and terrorist financing.

2. Summary of significant accounting policies

These financial statements have been prepared in accordance with the Government’s accounting polices stated below, which are based on Canadian public sector accounting standards. The presentation and results using the stated accounting policies do not result in any significant differences from Canadian public sector accounting standards.

Significant accounting policies are as follows:

(a) Parliamentary authorities

FINTRAC is financed by the Government of Canada through Parliamentary authorities. Financial reporting of authorities provided to FINTRAC do not parallel financial reporting according to generally accepted accounting principles since authorities are primarily based on cash flow requirements. Consequently, items recognized in the Statement of Operations and Departmental Net Financial Position and in the Statement of Financial Position are not necessarily the same as those provided through authorities from Parliament. Note 3 provides a reconciliation between the bases of reporting. The planned results amounts in the “Expenses” and “Revenues” sections of the Statement of Operations and Departmental Net Financial Position are the amounts reported in the Future-Oriented Statement of Operations included in the 2017–18 Reports on Plans and Priorities. The planned results amounts in the “Government funding and transfers” section of the Statement of Operations and Departmental Net Financial Position and in the Statement of Change in Departmental Net Debt were prepared for internal management purposes and have not been previously published.

(b) Net cash provided by Government

FINTRAC operates within the Consolidated Revenue Fund (CRF), which is administered by the Receiver General for Canada. All cash received by FINTRAC is deposited to the CRF, and all cash disbursements made by FINTRAC are paid from the CRF. The net cash provided by Government is the difference between all cash receipts and all cash disbursements, including transactions between departments of the Government.

(c) Amounts due from CRF

Amounts due from or to the CRF are the result of timing differences at year-end between when a transaction affects authorities and when it is processed through the CRF. Amounts due from the CRF represent the net amount of cash that FINTRAC is entitled to draw from the CRF without further authorities to discharge its liabilities.

(d) Revenues

(e) Expenses

Expenses are recorded on the accrual basis:

(f) Employee future benefits

(g) Accounts receivable

Accounts receivable are stated at the lower of cost and net recoverable value. A valuation allowance is recorded for receivables where recovery is considered uncertain.

(h) Contingent liabilities

Contingent liabilities are potential liabilities that 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. If the likelihood is not determinable or if an amount cannot be reasonably estimated, the contingency is disclosed in the notes to the financial statements.

(i) Tangible capital assets

All tangible capital assets and leasehold improvements having an initial cost of $5,000 or more are recorded at their acquisition cost. FINTRAC does not capitalize intangibles, works of art and historical treasures that have cultural, aesthetic or historical value, assets located on Indian reserves and museum collections.

Amortization of tangible capital assets is done on a straight-line basis over the estimated useful life of the asset as follows:
Asset Class Amortization Period
Machinery and equipment 5 years
Informatics hardware 5 years
Informatics software (purchased and developed) 5 years
Other equipment, including furniture 5 to 10 years
Leasehold improvements Lesser of remaining lease term and 10 years

(j) Measurement uncertainty

The preparation of these financial statements, in accordance with Canadian public sector accounting standards, requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities and expenses reported in the financial statements. At the time of preparation of these statements, management believes the estimates and assumptions to be reasonable. The most significant items where estimates are used are the liability for employee severance benefits, the useful life of tangible capital assets and the economic increase amount disclosed as a subsequent event. Actual results could significantly differ from those estimated. Management’s estimates are reviewed periodically and, as adjustments become necessary, they are recorded in the financial statements in the year they become known.

3. Parliamentary authorities

FINTRAC receives most of its funding through annual parliamentary authorities. Items recognized in the Statement of Operations and Departmental Net Financial Position and the Statements of Financial Position in one year may be funded through parliamentary authorities in prior, current or future years. Accordingly, FINTRAC has different net results of operations for the year on a government funding basis than on an accrual accounting basis. The differences are reconciled in the following tables:

(a) Reconciliation of net cost of operations to current year authorities used

  2018
(in dollars)
2017
(in dollars)
Net cost of operations before Government funding and transfers $56,520,581 $52,103,484
Adjustments for items affecting net cost of operations but not affecting authorities:
Amortization of tangible capital assets (648,190) (867,266)
Services provided without charge by other government departments (3,095,613) (3,097,426)
Increase in vacation pay and compensatory leave liability (98,754) (81,987)
Decrease (increase) in employee future benefits liability (3,503) 464,666
Decrease in accrued liabilities not charged to authorities 4,720 18,879
Bad debt expense - (207,865)
Refund of prior years’ expenditures 10,655 1,678
Refund of program expenditures 6,738 1,290
Total items affecting net cost of operations but not affecting authorities (3,823,947) (3,768,031)
Adjustments for items not affecting net cost of operations but affecting authorities:
Acquisition of tangible capital assets 2,596,456 6,999,759
Increase (decrease) in prepaid expenses (123,593) 40,673
Salary overpayments recognized in the Phoenix pay system to be recovered 78,142 30,594
Proceeds from disposal of non-capital assets 151 46
Total items not affecting net cost of operations but affecting authorities 2,551,156 7,071,072
Current year authorities used $55,247,790 $55,406,525
(b) Authorities provided and used

  2018
(in dollars)
2017
(in dollars)
Authorities provided
Vote 1 – Operating expenditures $46,362,822 $51,516,439
Statutory amounts 5,282,731 5,740,623
Total: 51,645,553 57,257,062
Transfer from Treasury Board
Vote 1 – Operating expenditures 5,121,224 2,167,459
Statutory amounts (209,646) (777,570)
Total 4,911,578 1,389,889
Less:
Authorities available for future years (151) (46)
Lapsed Vote 1 – Operating expenditures (1,309,190) (3,240,380)
Current year authorities used $55,247,790 $55,406,525

4. Accounts payable and accrued liabilities

The following table presents details of FINTRAC’s accounts payable and accrued liabilities:
  2018
(in dollars)

2017
(in dollars)

Accounts payable – Other government departments and agencies $783,935 $274,091
Accounts payable – External parties 1,804,780 553,368
Total accounts payable 2,588,715 827,459
Accrued salaries and wages 3,690,071 4,127,624
Accrued liabilities 74,230 86,626
Total accounts payable and accrued liabilities $6,353,016 $5,041,709

5. Employee future benefits

(a) Pension benefits

FINTRAC’s employees participate in the public service pension plan (the “Plan”), which is sponsored and administered by the Government of Canada. Pension benefits accrue up to a maximum period of 35 years at a rate of 2 percent per year of pensionable service, times the average of the best five consecutive years of earnings. The benefits are integrated with Canada/Québec Pension Plan benefits and they are indexed to inflation.

Both the employees and FINTRAC contribute to the cost of the Plan. Due to the amendment of the Public Service Superannuation Act following the implementation of provisions related to Economic Action Plan 2012, employee contributors have been divided into two groups.

Each group has a distinct contribution rate.

The 2017–18 expense amounts to $5,072,934 ($4,963,007 in 2016–17). For Group 1 members, the expense represents approximately 1.01 times (1.12 times in 2016–17) the employee contributions and, for Group 2 members, approximately 1.00 times (1.08 times for 2016–17) the employee contributions.

FINTRAC’s responsibility with regard to the Plan is limited to its contributions. Actuarial surpluses or deficiencies are recognized in the financial statements of the Government of Canada, as the Plan’s sponsor.

(b) Severance benefits

Severance benefits provided to FINTRAC’s employees were previously based on an employee’s eligibility, years of service and salary at termination of employment. However, since 2011 the accumulation of severance benefits for voluntary departures progressively ceased for substantially all employees. Employees subject to these changes were given the option to be paid the full or partial value of benefits earned to date or collect the full or remaining value of benefits upon departure from the public service. By March 31, 2018, all settlements for immediate cash out were completed. Severance benefits are unfunded and, consequently, the outstanding obligation will be paid from future authorities. 

The changes in the obligations during the year were as follows:

Information about the severance benefits, measured as at March 31
  2018
(in dollars)
2017
(in dollars)
Accrued benefit obligation – Beginning of year $1,779,038 $2,243,704
Expense for the year 216,029 (383,518)
Benefits paid during the year (212,526) (81,148)
Accrued benefit obligation – End of year $1,782,541 $1,779,038

6. Accounts receivable and advances

The following table presents details of FINTRAC’s accounts receivable and advances balances:
  2018
(in dollars)
2017
(in dollars)
Receivables – Other government departments and agencies $611,000 $850,587
Receivables – External parties 235,692 151,989
Employee advances 4,750 4,750
Subtotal 851,442 1,007,326
Allowance for doubtful accounts on receivables from external parties (63,790) (63,790)
Gross accounts receivable and advances 787,652 943,536
Accounts receivable held on behalf of Government (97,819) (114,174)
Net accounts receivable and advances $689,833 $829,362

7. Tangible capital assets

COST
(in dollars)
  Opening balance Acquisitions Disposals and write-offs Closing balance
Machinery and equipment $1,667,951 $26,767 $- $1,694,718
Informatics hardware 6,562,160 99,399 - 6,661,559
Software (purchased and developed) 16,123,352 5,440 - 16,128,792
Other equipment, including furniture 6,596,951 26,941 - 6,623,892
Leasehold improvements 8,571,522 - - 8,571,522
Assets under construction 9,956,386 2,437,909 - 12,394,295
Total $49,478,322 $2,596,456 $- $52,074,778
ACCUMULATED AMORTIZATION
(in dollars)
  Opening balance Amortization Disposals and write-offs Closing balance
Machinery and equipment $1,128,899 $99,412 $- $1,228,311
Informatics hardware 6,138,834 108,303 - 6,247,137
Software (purchased and developed) 15,751,621 71,068 - 15,822,689
Other equipment, including furniture 5,921,904 268,116 - 6,190,020
Leasehold improvements 6,563,637 101,291 - 6,664,928
Total $35,504,895 $648,190 $- $36,153,085
NET BOOK VALUE
(in dollars)
  2018 2017
Machinery and equipment $466,407 $539,052
Informatics hardware 414,422 423,326
Software (purchased and developed) 306,103 371,731
Other equipment, including furniture 433,872 675,047
Leasehold improvements 1,906,594 2,007,885
Assets under construction 12,394,295 9,956,386
Total $15,921,693 $13,973,427

8. Contractual obligations

The nature of FINTRAC’s activities can result in some large multi-year contracts and obligations whereby FINTRAC will be obligated to make future payments when the services are received. FINTRAC has entered into lease agreements with Xerox for copiers and with Public Services and Procurement Canada for office space in four locations across Canada. The minimum aggregate annual payments for future fiscal years are as follows:

The minimum aggregate annual payments for future fiscal years are as follows:
Fiscal Year (in dollars)
2018–19 $2,163,493
2019–20 408,690
2020–21 308,817
2021–22 206,401
2022–23 and thereafter 993,051
Total $4,080,452

9. Related party transactions

FINTRAC is related as a result of common ownership to all government departments, agencies, and Crown corporations. FINTRAC enters into transactions with these entities in the normal course of business and on normal trade terms. During the year, FINTRAC received common services which were obtained without charge from other government departments as disclosed below.

(a)  Common services provided without charge by other government departments

During the year, FINTRAC received services without charge from certain common service organizations, related to the employer's contribution to the health and dental insurance plans and workers' compensation coverage. These services provided without charge have been recorded in FINTRAC’s Statement of Operations and Departmental Net Financial Position as follows:

Common services provided without charge by other government departments
  2018
(in dollars)
2017
(in dollars)
Employer's contribution to the health and dental insurance plans $3,095,613 $3,097,426

The Government has centralized some of its administrative activities for efficiency, cost-effectiveness purposes and economic delivery of programs to the public. As a result, the Government uses central agencies and common service organizations so that one department performs services for all other departments and agencies without charge. The costs of these services, such as the payroll and cheque issuance services provided by Public Services and Procurement Canada, are not included in FINTRAC’s Statement of Operations and Departmental Net Financial Position. The costs of information technology infrastructure services provided by Shared Services Canada of $4,815,593 are also not included in FINTRAC’s Statement of Operations and Departmental Net Financial Position. During the current year, Shared Services Canada revised its methodology for calculating the amount of services provided without charge to other government departments to ensure a more accurate amount. This resulted in revision of the 2016–17 amount from $6,214,010 as disclosed in the 2016–17 financial statements to $3,885,833.

(b) Other transactions with related parties

Other transactions with related parties
  2018
(in dollars)
2017
(in dollars)
Expenses – Other government departments and agencies $11,734,952 $11,606,987

10. Transfers from other government departments

In 2016–17, the accounts receivable for outstanding salary overpayments were transferred to FINTRAC from the Department of National Defense (DND) and the Canadian Border Services Agency (CBSA) for employees hired by FINTRAC and for which the records were transferred to FINTRAC in the Phoenix pay system. FINTRAC is currently recovering these funds from the employees in the new fiscal year:

Transfers from other government departments
  2018
(in dollars)
2017
(in dollars)
Assets:
Transfer from DND $- $4,291
Transfer from CBSA $- $1,640
Total assets received $- $5,931
Adjustment to the departmental net financial position $- $5,931

11. Segmented information

Presentation by segment is based on FINTRAC’s program alignment architecture. The presentation by segment is based on the same accounting policies described in the Summary of Significant Accounting Policies in note 2. The following table presents the expenses incurred and revenues generated for the main programs, by major object of expenses and type of revenue. The segment results for the period are as follows:

Segmented information
  2018
(in dollars)
2017
(in dollars)
  Compliance Program Financial Intelligence Program Internal Services Total Total
Operating Expenses
Salaries and employee benefits $17,655,071 $18,827,768 $7,759,102 $44,241,941 $40,272,272
Accommodation 2,090,711 2,090,712 - 4,181,423 4,179,160
Professional and special services 932,793 1,073,762 727,956 2,734,511 2,524,015
Rentals 628,351 620,699 234,880 1,483,930 1,448,227
Travel 502,190 382,401 46,058 930,649 1,078,173
Acquisition of machinery and equipment 342,745 363,373 97,927 804,045 258,373
Amortization of tangible capital assets 277,661 288,615 81,914 648,190 867,266
Transportation and telecommunication 186,557 186,953 62,892 436,402 144,354
Utilities, materials and supplies 201,878 197,359 20,219 419,456 356,396
Information services 80,119 177,817 95,498 353,434 431,051
Repairs and maintenance 130,479 131,187 19,935 281,601 336,100
Other expenditures 36 37 5,077 5,150 208,143
Total Operating Expenses 23,028,591 24,340,683 9,151,458 56,520,732 52,103,530
Total Expenses 23,028,591 24,340,683 9,151,458 56,520,732 52,103,530
Revenues
Non-respendable revenue 25,814 - 255 26,069 141,675
Other revenue - - 151 151 46
Revenues earned on behalf of Government (25,814) - (255) (26,069) (141,675)
Total Revenues - - 151 151 46
Net cost from continuing operations $23,028,591 $24,340,683 $9,151,307 $56,520,581 $52,103,484
Date Modified: