1999–2000 Annual Report - Canadian Museum of Civilization

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Notes to Financial Statements 1. Mission and mandate Canadian Museum of Civilization March 31, 2000 The Canadian Museum of Civilization (the “Corporation”) was established on July 1, 1990 by the Museums Act. The Canadian Museum of Civilization is an agent Crown corporation named in Part I of Schedule III to the Financial Administration Act. The Canadian War Museum is a component of the Canadian Museum of Civilization. The mission, as stated in the Museums Act, is as follows: “to increase, throughout Canada and internationally, interest in, knowledge and critical understanding of and appreciation and respect for human cultural achievements and human behaviour by establishing, maintaining and developing for research and posterity a collection of objects of historical or cultural interest, with special but not exclusive reference to Canada, and by demonstrating those achievements and behaviour, the knowledge derived from them and the understanding they represent.” The Canadian Museum of Civilization’s operations are divided into five mutually supportive activities which work together to meet all aspects of its mandate. These activities are: Collect and research Manages, develops, conserves, and undertakes research on the collections to enhance program delivery and augment the scientific knowledge base. Exhibit, educate and communicate Develops, maintains, and communicates exhibits, programs and activities to further knowledge, critical understanding, appreciation, and respect for human cultural achievements and human behavior. Accommodate Managing and maintaining all facilities and related security and hosting services. Canadian War Museum An affiliated museum dedicated to Canada’s military history and continuing commitment to peacekeeping. Corporate services Governance, corporate management, audit and evaluation, fund raising, commercial activities, finance and administration, human resources, and information systems. 2. Significant accounting policies The financial statements have been prepared in accordance with generally accepted accounting principles. Significant accounting policies follow. (a) Inventories Inventories, which consist of materials for the boutiques and publications, are valued at the lower of cost and net realizable value. (b) Collection The artifact collection forms the largest part of the assets of the Corporation, and is presented in the balance sheet at a nominal value of $1,000, due to the practical difficulties of determining a meaningful value for these assets. Objects purchased for the collection of the Corporation are recorded as an expense in the year of acquisition. Objects donated to the Corporation are not recorded in the books of accounts. 66
(c) Capital assets Capital assets are valued at cost, net of accumulated amortization. Amortization is calculated using the straight-line method, over the estimated useful lives of assets: Leasehold and building improvements Office furniture and equipment Technical and informatics equipment Motor vehicles (d) Pension plan Employees of the Corporation participate in the Public Service Superannuation Plan, administered by the Government of Canada. The Corporation matches these contributions equally for each employee, for the year in which services are rendered. These contributions are expensed during the year in which services are rendered, and represent the total pension obligations of the Corporation. The Corporation is not required under present legislation to make contributions with respect to actuarial deficiencies of the Public Service Superannuation Account. (e) Employee termination benefits Employees of the Corporation are entitled to specified benefits on termination, as provided for under labour contracts and conditions of employment. The cost of these benefits is expensed in the year in which they are earned by the employee. (f) Contributions The Corporation follows the deferral method of accounting for contributions. Unrestricted contributions are recognized as revenue when received or receivable if the amount to be received can be reasonably estimated and collection is reasonably assured. Contributions externally restricted, and related investment income, are deferred and recognized as revenue in the year in which the related expenses are incurred. Volunteers contribute a significant number of hours per year. Because of the difficulty of determining their fair value, contributed services are not recognized in these financial statements. (g) Parliamentary appropriation The Government of Canada provides funding to the Corporation. The portion of the parliamentary appropriation used to purchase depreciable capital assets is recorded as deferred capital funding and amortized on the same basis and over the same periods as the related capital assets. The remaining portion of the appropriation is recorded in the statement of operations in the year for which it was approved. 3. Cash and short-term investments The Corporation invests in the short-term money market. The overall portfolio yield as at March 31, 2000 was 4.9% (1999 - 5.1%). All instruments held in short-term investments are rated R1 or better by the Dominion Bond Rating Service. The average term to maturity is 37 days. The fair value of the short-term investments approximates the book value due to their impending maturity. 67 Notes to Financial Statements 10 years 8 years 5 and 8 years 5 years
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1999-2000 Annual Report Canadian Mu
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Table of Contents Page Page 4 The B
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The Canadian Museum of Civilization
Page 7 and 8:
In September 1999, I began my term
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As my tenure as Acting President an
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PL PL PLANNING PL ANNING AND AND AN
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During the past year, the Corporati
Page 15 and 16: • CMC school programmes offered t
Page 17 and 18: • Major improvements to the Corpo
Page 19 and 20: • The Yukon-Beringia Research Awa
Page 21 and 22: In February 2000, the Canadian Muse
Page 23 and 24: KE KEY KE Y A AACHIE A CHIE CHIEVEM
Page 25 and 26: Str tr trategic tr ategic I IIssue:
Page 27 and 28: The Museum Services are responsible
Page 29 and 30: Histor istor istory istor y D DDivi
Page 31 and 32: • Three exhibits, including a loo
Page 33 and 34: Web eb P PPublications P Publicatio
Page 35 and 36: This Other Eden: Canadian Folk Art
Page 37 and 38: TRA TRAVELLING TRA VELLING EXHIBITI
Page 39 and 40: • Numerous events staged in partn
Page 41 and 42: • Total attendance of 555,504 •
Page 43 and 44: The Canadian Postal Museum provides
Page 45 and 46: The Corporation actively markets an
Page 47 and 48: • Ongoing development and mainten
Page 49 and 50: TEMPORAR TEMPORARY TEMPORAR TEMPORA
Page 51 and 52: Lectur Lectures Lectur Lectures es
Page 53 and 54: Lee, Jack Lepage, Valérie MacGrego
Page 55 and 56: Monroe, Catherine Becker Moody, J.W
Page 57 and 58: Metcalfe, Maj Robert W. Milroy, LGe
Page 59 and 60: Canadian Museum of Civilization Fin
Page 61 and 62: AUDITOR GENERAL OF CANADA VÉRIFICA
Page 63 and 64: (in thousands of dollars) CURRENT L
Page 65: (in thousands of dollars) Operating
Page 69 and 70: 7. Capital assets 69 Notes to Finan
Page 71 and 72: 12. Interest on cash and investment
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1999–2000 Annual Report - Canadian Museum of Civilization

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