2004 Crown Investments Corporation of Saskatchewan Annual Report

More documents

Recommendations

Info

Strategic Direction and Performance ReportingAligning CIC’s Strategic Goals to the Crown Sector PlanCIC’s strategic goals and initiatives are aligned with the shareholder direction set forth in the Crown SectorStrategic Plan, as well as other strategic priorities established by the shareholder.Balanced Scorecard Perspective Crown Sector Strategic Goals CIC’s Strategic GoalsLeadership and FinancialCustomers & StakeholdersPublic PurposeInnovation and GrowthStrive to balance public accountabilitywith each Crown corporation’s need tooperate in a commercially competitiveenvironment.Provide a return to the people ofSaskatchewan that justifies theshareholder risk and investment.Exceed customer expectations forproducts and services.Contribute to social, economic andenvironmental public policies.Align human resources processesand practices with emerging sectorwide issues that support achievementof individual Crown corporationstrategies.Leadership to subsidiary Crowns.Support and guidance to thestakeholders.Advance the government’s sectorwide priorities, policies andinitiatives.Position the CIC team forcorporate and personal success.CIC’s Performance Reporting for 2004Scorecard Performance IndicatorsIndicator ColourStatusExceeds targetAchieved, or on targetBelow, or slightly off targetMissed, or did not meet targetDeferred, or not measured for this periodC I C30
Strategic Direction and Performance ReportingLeadership and Financial PerspectiveCorporate StrategicObjectivePerformanceMeasurePerformanceTargetPerformanceResultPerformanceRatingL-1 Effective governanceand performancemanagement of CrownsubsidiariesSubsidiary BalancedScorecard targets metGovernance rating bythe Conference Boardof Canada> 8.0Top 25%6.5N/A review doneon a 2 year cycleBelow2005 targetL-2 Appropriate return to theGeneral Revenue FundDividends to theGeneral Revenue Fund$250 M$268M includes$80M specialdividendsExceedsShareholder cash flow(ROE)16%17.6%ExceedsL-3 Proactive leadership onCrown sector issuesExternal index measure> 6.7Not conductedin 2004 (indexunder review).NotMeasuredSignificant Accomplishments in 2004CIC declared $268 million in dividends to the GRF in 2004, including $80 million in special dividends in support of CAISand Centennial celebration funding. Looking forward, CIC will face challenges to meet GRF dividend targets and addresscapital needs within the Crown sector.Public Purpose PerspectiveCorporate StrategicObjectivePerformanceMeasurePerformanceTargetPerformanceResultPerformanceRatingP-1 The Crown sectorcontributes in thedelivery of public policyAnnual Utility BundleCostLowest cost inCanadaCommitmentmet with UtilityBundle RebateProgramAchievedYouth and careeropportunities:Co-op ProgramGradworksSummer students>185 students100 interns>450 students170 students15 hired, 30posted for 2005289 studentsBelowBelowBelowP-2 CIC’s workforcereflects the diversity ofSaskatchewanStaff levels in diversitytarget groups> 27%28.6%AchievedNew hires in diversitytarget groups> 25%22.2%BelowP-3 Environmentalprotection andadvancement of theGreen AgendaComputer and officeequipment meetEnergy Star standardsSupport the GreenPower program> 80%Purchase10,000 kwper month100%10,000 kw permonthExceedsAchievedSignificant Accomplishments in 2004CIC monitored the basic utility costs in other jurisdictions during 2004. By November it became apparent that whileSaskatchewan costs compared very favourably, the overall bundle cost for Manitoba would be lower unless action wastaken. CIC recommended each Saskatchewan household receive a rebate of $137 to position the Saskatchewan 2004bundle as the lowest in Canada. This rebate was applied through the residential billing system through SaskTel. Rebateswere applied to residential energy and power accounts if the household did not have a basic residential telephone service.CIC continues to monitor the utility costs and will make recommendations on the 2005 bundle status as required.31 C I C
Page 2 and 3: 2004 Financial HighlightsCrown Sect
Page 4 and 5: Table Of Contents2004 HighlightsLet
Page 6 and 7: Chair’s MessageSaskatchewan’s C
Page 8 and 9: Corporate ProfileCIC is the financi
Page 10 and 11: Corporate ProfileCIC ManagementThe
Page 12 and 13: Corporate ProfileFinancial and Publ
Page 14 and 15: Corporate ProfileCIC’s Holdings20
Page 16 and 17: Corporate ProfileSASKATCHEWAN GOVER
Page 18 and 19: Corporate ProfileSaskatchewan Telec
Page 21: Policy and ProgramsUtility Bundle C
Page 24 and 25: Policy and ProgramsCommitment to Gr
Page 26: Policy and ProgramsCommitment to Yo
Page 30: GovernanceFor the purposes of this
Page 33: Strategic Direction and Performance
Page 37 and 38: Strategic Direction and Performance
Page 39 and 40: Strategic Direction and Performance
Page 41 and 42: Management’s Discussion and Analy
Page 43 and 44: MANAGEMENT’S DISCUSSION AND ANALY
Page 65: MANAGEMENT’S DISCUSSION AND ANALY
Page 68 and 69: Consolidated Statement of Financial
Page 70 and 71: Consolidated Statement of Cash Flow
Page 72 and 73: Notes to Consolidated Financial Sta
Page 84 and 85:
Notes to Consolidated Financial Sta
Page 86 and 87:
Page 88 and 89:
Page 90 and 91:
Page 92 and 93:
Page 94 and 95:
Page 96:
Page 99 and 100:
Non-Consolidated Statement of Finan
Page 101 and 102:
Non-Consolidated Statement of Cash
Page 103 and 104:
Notes to Non-Consolidated Financial
Page 105 and 106:
Page 107:
Page 110:
Pat AtkinsonMinisterPrinted in Sask
show all

2004 Crown Investments Corporation of Saskatchewan Annual Report

Create successful ePaper yourself

Delete template?

Save as template?