INDEX DECEMBER 31, 2022 Independent Auditors' Report 1-2 Consolidated Statement of Operations 3 Consolidated Statement of Changes in Fund Balances 4 Consolidated Statement of Financial Position 5 Consolidated Statement of Cash Flows 6 Note...
AI summary The document provides an index of financial statements and reports for the period ending December 31, 2022, including auditors' reports and consolidated financial statements.
CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT DECEMBER 31, 2022 (IN THOUSANDS) Demand-Side Management Provincial Other Business Fund Fund Fund 2022 2021 ASSETS CURRENT Cash $ 9,441 $ 39,920 $ 1,855 $ 51,216 $ 45,346 Accounts receivabl...
AI summary The consolidated statement of financial position for December 31, 2022, outlines the assets and liabilities of various funds, including the Demand-Side Management Fund, Provincial Fund, and Other Business Fund. The data highlights changes in cash, accounts receivable, and liabilities over the period, as well as investments and loan receivables.
Approved by the Board William (Bill) Lahey Sean O'Connor Chair, Board of Directors Chair, Finance Committee See accompanying notes to the consolidated financial statements EFFICIENCYONE REDACTED
AI summary The document includes approvals by the Board, with William (Bill) Lahey and Sean O'Connor listed as Chair and Chair of the Finance Committee, respectively. It also references 'EFFICIENCYONE' and mentions accompanying notes to the consolidated financial statements.
3. REVENUE AND CONTRACTUAL RIGHTS (continued) The Corporation entered into a services agreement with the Town of Bridgewater to administer housing energy management services. Effective June 27, 2022, the agreement provides funding of $442...
AI summary The Corporation has entered into several funding agreements, including with the Town of Bridgewater and HCi3 with FCM and the McConnell Foundation, to support energy management and climate mitigation projects. Revenue recognition and deferral practices are discussed, with specific amounts and timelines noted.
Investments in pooled funds are held by an investment manager and are measured at market value. All market-based investments are made in accordance with HCi3's investment policy. 2022 2021 GIC, due May 10, 2023, 3.50% per annum $ 60,000 $...
AI summary The text discusses investments in pooled funds managed by an investment manager, measured at market value, and outlines specific fund holdings and investment income for 2022 and 2021. It references the investment policy of HCi3.
Investment income earned from endowments consists of distributions from various pooled fund investments as listed above, as well as interest on cash deposits and unrealized gains or losses due to changes in fair market value. The investmen...
AI summary The text discusses investment income from endowments, including distributions from pooled funds, interest on cash deposits, and unrealized gains or losses. This income is recognized in the Consolidated Statement of Operations as it becomes available for expenditure.
FINANCIAL POSITION 2022 2021 Assets $ 145 $ 198 Liabilities 3 54 Equity 142 144 Total Liability and Equity $ 145 $ 198 RESULTS OF OPERATIONS 2022 2021 Revenue $ 4 $ 55 Expenses (including a provision for (recovery of) income tax) 6 60 Net...
AI summary The financial position of the Corporation shows a decrease in assets from 2021 to 2022, along with a reduction in liabilities and a slight decrease in equity. Revenue and expenses also decreased, resulting in a smaller net loss in 2022. The Corporation provides services to EfficiencyOne Services Inc. on a fully allocated cost basis, with costs amounting to $3 in 2022.
The Corporation is exposed to risks associated with its financial instruments as follows: Risks Credit Liquidity Market Cash X X Accounts receivable X Accounts payable and accrued liabilities X X Investments X The Corporation's risk exposu...
AI summary The Corporation faces financial risks related to its financial instruments, particularly in credit, liquidity, and market areas. The risk exposure has increased compared to the prior year, primarily due to an overall rise in financial instruments.
The costs in each fund include direct costs of the programs which are comprised of, but not limited to, customer payments, program support costs, and other program and administrative costs directly attributable to a program. The Corporatio...
AI summary The document outlines how the Corporation allocates both direct and non-direct costs among its programs, using metrics such as Full-Time Equivalents and Direct Costs as defined in the ENSC Cost Allocation Methodology Report. The CAM is regularly reviewed by the NSUARB.
Utility and Review Board and reported annually through EfficiencyOne's Compliance Report. Please also refer to EfficiencyOne's response to NSUARB IR-02. i) Please refer to EfficiencyOne's IR response in (e). (f) Please refer to EfficiencyO...
AI summary The text discusses EfficiencyOne's compliance with regulations, reference to prior responses, and details about investments, specifically a $60 million GIC investment. It includes questions about the source of funds and potential need for access to these funds before May 10, 2023.
Request IR-09: - With regards to Note 11 to the Consolidated Financial Statements – Significant Events, please - explain what the impact to the 2022 financials was as a result of the COVID-19 pandemic. Response IR-09: - In 2022, Efficiency...
AI summary EfficiencyOne's 2022 financial results showed recovery to near pre-pandemic levels, but the pandemic continued to negatively impact specific programs like the Mi'kmaw Home Energy Efficiency Project and Business Energy Rebates due to delays, supply chain issues, and service pauses. Risk exposure has increased due to changes in financial instruments used by non-regulated funds, but no specific events related to the DSM Fund have increased risk.
M11094 EfficiencyOne Responses to Information Requests (RIRs) (Second Set) E1 (NSUARB) RIRs 12-15 FILED October 4, 2023 Request IR-12: - Please provide the reasoning for requesting confidential treatment of the 2022 Income Tax - Return whe...
AI summary EfficiencyOne (E1) explains that the 2022 Income Tax Return includes all business activities, not just the regulated DSM Fund. E1 determined that the information in the tax return is consistent with non-confidential financial statements, justifying the request for confidential treatment.
Document: 302799 (E-ENS-F-23) Date Filed: June 20/23 UARB Page 2 1 i. The Company has a deficit of $2,000 in the year, mainly due to "Other Business 2 Fund" transactions. Are the additional programs and grants handled by the 3 Company putt...
AI summary The document includes several financial and operational questions directed at the Company, focusing on revenue, cash management, investment decisions, and program-related financial impacts. Specific requests include explanations of revenue and cash receipt tables, use of endowment funds, investment in GICs, and changes in deferred revenue and DSM Fund Share.
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