Annual - Companies Office

REVENue
Total net revenue for the year ended
March 31, 2010, was $6,713 or 693
higher than budget and 102 higher
than a year ago. Increase in actual
filings accounts for the increase.
Budget included an anticipated
reduction in revenue due to the
recession.
ExpENSES
The following is an explanation of significant
variances to budget.
1. Actual to Budget
a) Operating costs were lower than budget as a
result of:
• Manitoba Business Links (MBL) costs
were lower by $102. MBL budget included
technical support costs (enhancements) of
$81 that were not expended during the year.
• Disaster Recovery costs were lower by $41.
Budget included two staff members. Only
one staff member was employed for most
of the year.
• Budget included Name Reservation
System Enhancements of $25. Only $3 was
expended during the year.
• Budget included interest costs of $99
relating to the new system development.
System development was delayed resulting
in no borrowing costs.
• Amortization costs were lower as a result of
the delay in system development.
• New system maintenance costs were lower
by $258 as a result of the delay in system
development.
mary
F I N A N C I A L R E S U L T S
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