Net Cost of Operations (Based on Financial Statements)

The CCRA's total 2003-2004 net cost of operations decreased by $166 million (4%) from 2002-2003. Agency costs totalled $4,142,143,000 in 2004 and $4,290,689,000 in 2003 (see Note 5 of the Annual Financial Statements for the breakdown of Personnel Costs and Other Costs). When adjusting for the receipt of Non-Tax Revenue of $214,014,000 in 2004 and $196,608,000 in 2003 in Personnel and Other Costs, the Net Cost of Operations becomes:

Approximately 79% of CCRA expenditures are personnel costs (salaries, other allowances and benefits). Of the remaining Other Costs, much, such as travel for auditors, computers, accommodation, furniture replacement, etc., is linked to personnel. This makes personnel costs the primary cost drivers for the Agency. This is further illustrated in the charts below:

Exhibit 1 Net Cost of Operations:

Date modified:

2004-10-28