Quarterly Financial Report ending June 30, 2025

Copyright Board of Canada 
Statement outlining results, risks and significant changes in operations, personnel and program 
For the Quarter Ended June 30, 2025

Introduction

This quarterly report has been prepared by management as required by section 65.1 of the Financial Administration Act and in the form and manner prescribed by the Treasury Board. This quarterly report should be read in conjunction with the Main Estimates.

The Board is an independent administrative tribunal and economic regulatory body empowered to establish the tariffs which set the royalties to be paid for the use of copyrighted works when the copyright in such works is administered collectively by a society. The Board also issues licences which set the royalties to be paid for the use of copyrighted works when the copyright owner cannot be located. By issuing fair and equitable tariffs and licences, the Board ensures that rights owners are remunerated in a timely manner, while supporting prosperity and innovation in the Canadian economy. Its work also promotes confidence in Canada’s tariff and licensing processes.

Basis of Presentation

This quarterly report has been prepared by management using an expenditure basis of accounting. The accompanying Statement of Authorities includes the Board’s spending authorities granted by Parliament and those used by the Board, consistent with the Main Estimates for the 2025-26 fiscal year. This quarterly report has been prepared using a special purpose financial reporting framework designed to meet financial information needs with respect to the use of spending authorities.

The authority of Parliament is required before moneys can be spent by the Government. Approvals are given in the form of annually approved limits through appropriation acts or through legislation in the form of statutory spending authority for specific purposes.

As part of the performance reporting process, the Board prepares its annual departmental financial statements on a full accrual basis in accordance with TBS accounting policies, which are based on Canadian generally accepted accounting principles for the public sector. However, the spending authorities voted by Parliament remain on an expenditure basis.

The quarterly report has not been subject to an external audit or review.

Highlights of Fiscal Quarter Results

The total authorities used during the quarter ended June 30, 2025, were $980,000, a slight decrease of $5,000 compared to the same quarter last year. While overall spending remained stable, personnel expenses increased relative to the same period last year. This increase reflects higher salary rates and increased staffing. The increase in personnel expenditures was offset by lower spending across most other expenditure categories, including professional services and operating costs, due to fewer projects requiring external support during the quarter. These shifts reflect a continued focus on building internal capacity while managing non-salary expenditures prudently.

Risks and Uncertainties:

The Board’s most significant expenditure is personnel which represents about 85% of its planned expenditures. This implies that whenever an employee departs due to retirement or resignation or that a new employee is hired to replace the departing one, there is a risk of substantial variation in quarterly expenditures.

Approval by Senior Officials

Approved by,

Statement of Authorities (unaudited)

Table 1: Departmental budgetary expenditures by Standard Object (unaudited)