Revolving Fund – CORCAN

Revolving Funds

Statement of Operations
  ($ millions)
Forecast
Spending
2012-13
Planned
Spending
2013-14
Planned
Spending
2014-15
Planned
Spending
2015-16
Revenues
CORCAN Revenues 84.4 87.2 89.1 90.7
Other Revenues 0.0 0.0 0.0 0.0
Respendable Revenue 84.4 87.2 89.1 90.7
 
Expenses
Salaries & employee benefits 40.4 41.9 42.7 43.6
Depreciation 2.4 2.4 2.4 2.4
Repairs & maintenance 1.1 1.1 1.1 1.1
Admin & support services 7.5 7.5 7.5 7.5
Utilities, materials & supplies 33.0 34.3 35.4 36.1
Total Expenses 84.4 87.2 89.1 90.7
Surplus (deficit) 0.0 0.0 0.0 0.0

 

Statement of Cash Flows
Operating Activities ($ millions)
Forecast
Spending
2012-13
Planned
Spending
2013-14
Planned
Spending
2014-15
Planned
Spending
2015-16
Surplus (Deficit) 0.0 0.0 0.0 0.0
Add: Items Not Requiring Use of Funds
Provision for Employee Termination Benefits 0.4 1.6 0.1 0.1
Amortization of fixed assets 2.4 2.4 2.4 2.4
Amortization of deferred charges 0.0 0.0 0.0 0.0
Allowance for doubtful accounts (0.7) (0.7) (0.7) (0.7)
Cash surplus (requirement) 2.1 3.3 1.8 1.8
         
Changes in Current Assets and Liabilities        
Deferred Charges 0.0 0.0 0.0 0.0
Accounts Receivable (0.2) (0.2) (0.1) (0.1)
Inventory (4.7) (0.7) (0.5) (0.4)
Accounts Payable 0.3 0.4 0.3 0.2
Payment on changes in provision for Employee Termination Benefits (0.4) (1.6) (0.1) (0.1)
Total Changes (5.0) (2.1) (0.4) (0.4)
Net Financial Resources (2.9) 1.2 1.4 1.4
Investing activities        
Capital Assets Purchased (2.5) (2.5) (2.5) (2.5)
Net Financial Resources (2.5) (2.5) (2.5) (2.5)
Net Financial Resources used and Change in the Accumulated Net Charge against the Fund's Authority Account during the Year (5.4) (1.3) (1.1) (1.1)

 

Projected Use of Authority
($ millions)
Forecast
Spending
2012-13
Planned
Spending
2013-14
Planned
Spending
2014-15
Planned
Spending
2015-16
Authority *        
Authority - April 1 5.0 5.0 5.0 5.0
Adjustment to the Revolving Fund Authority 0.0 0.0 0.0 0.0
Sub-total Authority - March 31 5.0 5.0 5.0 5.0
Drawdown        
Balance - April 1 10.3 4.9 3.6 2.5
Projected surplus (drawdown) (5.4) (1.3) (1.1) (1.1)
Sub-total Drawdown - March 31 4.9 3.6 2.5 1.4
Projected Balance at March 31 9.9 8.6 7.5 6.4

* Five million dollars is the maximum amount that may be drawn down at any time from the Consolidated Revenue Fund.