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At March 31, 2023, financial assets amounted to $642.3 billion, down $5.3 billion from March 31, 2022. The decrease reflects decreases in cash and accounts receivable and derivatives, offset in part by increases in foreign exchange accounts assets, loans, investments and advances, and public sector pension assets.
- 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.
- Summary of significant accounting policies. These financial statements have been prepared in accordance with the Government’s accounting policies stated below, which are based on Canadian public sector accounting standards.
- 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.
- Accounts payable and accrued liabilities. The following table presents details of FINTRAC's accounts payable and accrued liabilities: 2023. (in dollars)
A risk-based assessment of the system of ICFR for the year ended March 31, 2023 was completed in accordance with the Treasury Board Policy on Financial Management and the results and action plans are summarized in the Annex.
The Group recognized public sector pensions and other future benefits liabilities of $344,374 million and public sector pension assets of $12,996 million as at 31 March 2023. Pension assets and liabilities are recognized for defined benefit pension plans.
Sep 19, 2024 · Ontario’s Consolidated Financial Statements present the financial results for the 2023–24 fiscal year against the 2023 Budget released on March 23, 2023, and the financial position of the government as of March 31, 2024. As in previous years, the Annual Report also compares the current year’s results to the prior year’s results and ...
Revenues in March 2023 totalled $37.6 billion, down $1.8 billion, or 4.5 per cent, from March 2022. Tax revenues decreased by $1.1 billion, or 3.6 per cent, compared to the same period in 2021-22, driven by a decline in Goods and Services Tax revenue reflecting the one-time Grocery Rebate announced in Budget 2023.
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As of March 31, 2023, an amount of $6,753 million ($5,634 million in 2022) was being appealed to the courts, for which the likelihood of an adverse outcome was not determinable or for which an amount could not be reasonably estimated.
