ARCHIVED - Future Oriented Financial Statements – Year Over Year Variances
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2011 Estimated Results
NRC estimates expenses of $1.030 billion in 2010-11, down slightly from $1.033 billion in 2009-10. The main contributors to this variance include the following:
$11M decrease in salaries due to the transformation of the Institute for Scientific and Technical Information (NRC-CISTI), namely the privatization of the NRC-CISTI Research Press on September 1, 2010, and the change in program delivery of the NRC-CISTI document delivery business segment on April 1, 2010;
$10M increase in Parliamentary Authorities for Grants and Contributions to support scientific research and development activities performed by Canadian organizations.
NRC estimates revenue of $160 million in 2010-11, a decrease from 2009-10 revenues of $170 million. The main contributors to this variance include the following:
$17 million of revenue in 2009-10 for Industry Canada’s Community Adjustment Fund (CAF) program, but funded through Parliamentary Authorities in 2010-11;
$9 million of increased sales of goods and services to external parties;
$6 million of increased revenue from Joint Research Projects;
$5 million decrease in revenue due to the privatization of the NRC-CISTI Research Press;
$3 million of one-time revenue in 2009-10 from the gain on sale of an equity investment.
2012 Estimated Results
NRC forecasts expenses of $860 million in 2011-12, a significant decrease to the $1.030 billion estimated for 2010-11. The main contributors to this variance include the following:
Funding received for Canada’s Economic Action Plan will no longer be available in 2011-12, resulting in a $100M reduction in Grants and Contributions for the support of scientific research and development activities performed by Canadian organizations, and a reduction of $10M related to discontinued Federal Labs funding;
$45 million decrease in Grants and Contributions funding related to the Southern Ontario Development program – the funding to NRC for this program was received in 2010-11;
$10M decrease in Parliamentary Authorities in funding for salaries.
For the purpose of these future oriented financial statements, NRC estimates total revenue at $160 million in 2011-12, consistent with estimated revenue for 2010-11.