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TABLE OF CONTENTS

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Statement of Management Responsibility

The Tribunal’s management is responsible for these future-oriented financial statements, including the appropriateness of the assumptions on which these statements are based. These statements were prepared using the best information available and assumptions adopted as of February 4, 2011, and reflect the plans described in the Report on Plans and Priorities.

The Tribunal’s future-oriented financial statements have not been audited.

Serge Fréchette		Steve Malouin
Serge Fréchette Acting Chairperson		Steve Malouin Acting Chief Financial Officer

Ottawa, Canada

February 1, 2011
Date

CANADIAN INTERNATIONAL TRADE TRIBUNAL
Future-oriented Statement of Operations (unaudited)
For the year ended March 31

	Forecast 2011-2012	Estimated 2010-2011
	(in thousands of dollars)
Expenses
Adjudication of trade cases (quasi-judicial role)	8,891	8,872
General economic inquiries and references (advisory role)	141	141
Internal services	5,080	5,069
Total expenses	14,112	14,082
Revenues
Adjudication of trade cases (quasi-judicial role)	1	1
General economic inquiries and references (advisory role)	0	0
Internal services	0	0
Total revenues	1	1
Net cost of operations	14,111	14,081

Information for the year ended March 31, 2011, includes actual amounts from April 1 to December 31, 2010.

Segmented information (Note 9).

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

CANADIAN INTERNATIONAL TRADE TRIBUNAL
Notes to the Financial Statements (unaudited)

(1) Authority and Objectives

The Tribunal’s objectives are to ensure that Canada can rely on a fair and efficient trade remedies system and that the Government of Canada, through the Tribunal’s fact-finding inquiries and standing references, can formulate strategies aimed at making Canadian producers more competitive in the global trade environment.

The Tribunal operates under the authority of the Canadian International Trade Tribunal Act. It is also governed by the following statutes, regulations and rules: Customs Act, Excise Tax Act, Special Import Measures Act, Energy Administration Act, Canadian International Trade Tribunal Regulations, Canadian International Trade Tribunal Procurement Inquiry Regulations and Canadian International Trade Tribunal Rules.

The Tribunal’s strategic outcome is the fair, timely and transparent disposition of international trade cases, procurement cases and government-mandated inquiries within the Tribunal’s jurisdiction.

The Tribunal has three program activities:

In its quasi-judicial role, the Tribunal inquires into trade-related complaints (i.e. dumping, subsidizing and safeguards) and complaints regarding federal government procurement. The Tribunal hears appeals from decisions of the Minister of National Revenue and the Canada Border Services Agency under the Excise Tax Act and the Customs Act respectively.

In its advisory role, the Tribunal undertakes general economic inquiries and tariff references for the Minister of Finance or the Governor in Council.

Internal Services are groups of related activities and resources that are administered to support the needs of the program and other corporate obligations of an organization. Internal Services include only those activities and resources that apply across an organization and not to those provided specifically to a program.

(2) Underlying Assumptions

The future-oriented financial statements have been prepared on the basis of the Government’s priorities and the Tribunal’s plans as described in the Report on Plans and Priorities.

The main assumptions are as follows:

These assumptions were adopted as of February 4, 2011.

(3) Variations and Changes to the Forecast Financial Information

While every attempt has been made to accurately forecast final results for the remainder of 2010-2011 and for 2011-2012, actual results achieved for both years are likely to vary from the forecast information presented, and this variation could be material.

In preparing these financial statements, the Tribunal has made estimates and assumptions concerning the future. These estimates and judgments may differ from the subsequent actual results. Estimates and judgments are continually evaluated and based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Once the Report on Plans and Priorities is presented, the Tribunal will not be updating the forecasts for any changes to appropriations or forecast financial information made in ensuing supplementary estimates. Variances will be explained in the Departmental Performance Report.

(4) Summary of Significant Accounting Policies

The future-oriented financial statements have been prepared in accordance with Treasury Board’s accounting policies stated below, which are based on Canadian generally accepted accounting principles for the public sector. The presentation and results using the stated accounting policies do not result in any significant differences from Canadian generally accepted accounting principles.

The significant accounting policies are as follows:

(5) Parliamentary Appropriations

The Tribunal receives most of its funding through annual parliamentary authorities. Items recognized in the statement of operations and the statement of financial position in one year may be funded through parliamentary authorities in prior, current or future years. Accordingly, the Tribunal’s net results of operations for the year are different when recorded on a government funding basis rather than on an accrual accounting basis.

The differences are reconciled in the following table:

	Forecast 2011-2012	Estimated 2010-2011
	(in thousands of dollars)
Net cost of operations	14,111	14,081
Adjustments for items affecting net cost of operations but not affecting authorities: Add (Less)
Amortization of tangible capital assets (Note 6)	(60)	(42)
Employee severance benefits (Note 7b)	(105)	332
Revenue not available for spending	1	1
Services provided without charge by other government departments (Note 8)	(2,833)	(2,786)
	(2,997)	(2,495)
Adjustments for items not affecting net cost of operations but affecting authorities
Acquisition of tangible assets (Note 6)	(50)	(52)
	(50)	(52)
Forecast current-year lapse	409	1,232
Forecast authorities available	11,473	12,766

(6) Tangible Capital Assets

The following table presents details of tangible capital assets:

Cost					Accumulated Amortization				Forecasted Net Book Value
Capital Asset Class	Opening Balance	Acquisitions	Disposals and Write-offs	Closing Balance	Opening Balance	Amortization	Disposals and Write-offs	Closing Balance	2012	2011
	(in thousands of dollars)
Machinery and equipment	99	26	0	125	20	12	0	32	93	79
Computer hardware	435	24	0	459	104	48	0	152	307	331
Total	534	50	0	584	124	60	0	184	400	410

(7) Employee Future Benefits

	Forecast 2011-2012	Estimated 2010-2011
	(in thousands of dollars)
Accrued benefit obligation, beginning of year	1,471	1,803
Accrued expense for the year	105	(332)
Accrued benefit obligation, end of year	1,576	1,471

(8) Related Party Transactions

The Tribunal is related, as a result of common ownership, to all Government of Canada departments, agencies and Crown corporations. The Tribunal enters into transactions with these entities in the normal course of business and on normal trade terms. During the year, the Tribunal receives services without charge from other government departments, as presented below.

	Forecast 2011-2012	Estimated 2010-2011
	(in thousands of dollars)
Accommodation	2,062	2,040
Employer’s contribution to the health and dental insurance plans	771	746
Total	2,833	2,786

The Government has structured some of its administrative activities for efficiency and cost-effectiveness purposes so that one department performs these on behalf of all departments without charge. The costs of these services, which include payroll and cheque issuance services provided by the Department of Public Works and Government Services and audit services provided by the Office of the Auditor General, are not included as an expense in the Statement of Operations.

(9) Segmented information

The following table presents details of expenses by category and by program activity:

	Estimated 2010-2011	Adjudication of Trade Cases (quasi-judicial role)	General Economic Inquiries and References (advisory role)	Internal Services	Forecast 2011-2012
	(in thousands of dollars)
Expenses
Salaries and employee benefits	10,086	6,386	3,649	101	10,136
Accommodation	2,040	1,299	742	21	2,062
Professional services	1,050	559	320	9	888
Repairs and maintenance	212	123	70	2	195
Acquisition of equipment	177	122	69	2	193
Materials and supplies	97	111	63	2	176
Transportation	140	101	58	2	161
Telecommunications	150	81	46	1	128
Information	43	43	24	1	68
Amortization	42	38	22	0	60
Rental	45	28	17	0	45
Other	0	0	0	0	0
Total expenses	14,082	8,891	5,080	141	14,112
Revenues
Other revenue	1	1	0	0	1
Net cost of operations	14,081	8,890	5,080	141	14,111

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