0 PUT TITLE HERE 7-Month Tangible Capital Asset Activities Report OASBO Finance Committee Workshop Transfer Payments & Financial Reporting Branch March 2008

1 PURPOSE  Overview of the 7-month capital activities report –Changes –Commonly made errors –Things that boards should be looking at  Specified Procedures Report –Filing requirements

2 Changes to Package  Summary Page –See Excel Page 1 –New section on write-offs / write-downs  New Assets –See Excel Page 2 –You can no longer add the gross book value of the new asset until you have given the Ministry the details of the asset  Write-downs –See Excel Page 4 (Column H.7) –Used to say ‘What is the amount of the write-down’

3 Commonly Made Errors  Schedules 17C and 17D –See Excel Page 3 –Operating lease schedules –Report leasehold improvements in leases schedules only –DO NOT include monthly lease payments  Schedules 17A - 17D –Not updating lease end dates (Column Z) –Lease has ended and has not been renewed (Column AC)  Asking for new assets –If you’re not sure if the asset is included, please call –Doubling of assets

4 Things You Should be Looking At AFTER ALL DATA INPUT IS COMPLETE, PLEASE REVIEW THE FOLLOWING PRIOR TO SUBMISSION:  Remaining Service Life –See Excel Page 4 (Column H.3) –Significant investments should increase remaining service life –Contacting boards in April to review April to Aug 07 submissions  Write-downs & Transfers to Permanently Removed from Service –See Excel Page 4 (Columns H.5 to H.7) –Make necessary write-down adjustments and transfers  Putting negatives in gross book value column –See Excel Page 4 (Column I or Column G.1) –Negative values exceed gross book value

5 Specified Procedures  Copy in your handouts  Specified procedures is 1 report that covers 2 elements: –March Report –7-Month Capital Activities Report  Unchanged from the prior 7-month report  Filing requirements (details included in memo): –Hard-copy to: Phina Deal Transfer Payments & Financial Reporting Branch 21st Floor, Mowat Block 900 Bay Street Toronto, Ontario M7A 1L2 –Due date: May 23, 2008