E-1Financial Statements - Redacted
7 passages
Revenue recognition The Corporation follows the deferral method of accounting for revenue. Restricted fee-for-service or contribution revenue is recognized as revenue within the appropriate fund in the year in which the related expenses ar...
AI summary The Corporation uses the deferral method for revenue recognition, with specific rules for restricted contributions, interest income, and investment income related to the HCi3 endowments. Revenue is recognized in the appropriate fund based on when expenses are incurred or revenue is earned.
Efficiency Nova Scotia Revenue Effective January 1, 2023, the Corporation entered into a three-year supply agreement with NS Power to provide demand-side management. The agreement provided funding of $173,000 over three years in monthly in...
AI summary Efficiency Nova Scotia entered into a three-year supply agreement with NS Power starting January 1, 2023, providing demand-side management services. The agreement includes a total funding of $173,000 over three years, with $53,000 in fee-for-service revenue recorded in 2023.
During the year, the Corporation recognized $348 in revenue from HCi3 (2022 - $658) and $196 from other sources (2022 - $3,969). Demand-Side Management Fund Provincial Fund Other Business Fund 2023 2022 Fee-for-service revenue Other revenu...
AI summary The Corporation reported revenue from HCi3 and other sources, with a significant decrease from 2022. A table details revenue from various funds, showing changes in fee-for-service and other revenue categories over the years.
9. DEFERRED REVENUE Demand-Side Management Fund Provincial Fund Other Business Fund 2023 2022 Opening $ 3,642 $ 102,359 $ 1,973 $ 107,974 $ 63,416 Recognition of prior years' deferred revenue - (30,837) (229) (31,066) (26,723) Recognition...
AI summary The text presents a table detailing deferred revenue across various funds for the years 2023 and 2022, including opening balances, recognition of prior years' deferred revenue, deferral of current year revenue, and the current portion of deferred revenue.
Corporation's name Business number Tax year end Year Month Day EfficiencyOne 80494 7976 RC0001 2023-12-31 General Index of Financial Information Notes to the financial statements Operating $ 4 $ 1 Change in Cash $ 4 $ 1 Cash - beginning of...
AI summary The document provides financial details about EfficiencyOne, including operating cash flow, capital assets, deferred revenue, and interfund transfers. It notes services rendered to EfficiencyOne Services Inc., capital assets like furniture and leasehold improvements, and interfund transfers based on FTE allocations.
12. COMMITMENTS (continued) Program Basis of Estimate Home Energy Assessment Number of eligible homes anticipated to complete the program at the historical average rebate rate plus final audit costs to be paid to Delivery Agents. SolarHome...
AI summary The document outlines the Corporation's program commitments, including home energy assessments, SolarHomes, Mi'kmaw Home Energy Efficiency, and low-income homeowner services. It also details multi-year fee-for-service agreements and a lease agreement for office premises expiring in 2030 with specified annual lease payments.
DECEMBER 31, 2023 Page COMPILATION ENGAGEMENT REPORT 2 STATEMENT OF EARNINGS AND RETAINED EARNINGS 3 BALANCE SHEET 4 NOTES TO THE FINANCIAL INFORMATION 5
AI summary The document includes a compilation engagement report and financial statements such as the statement of earnings and retained earnings, balance sheet, and notes to the financial information, dated December 31, 2023.
E-2Financial Statements - Refiled - Redacted
9 passages
Fund accounting a) The Demand-Side Management ("DSM") Fund is used to account for the operations of the Corporation including the fee-for-service revenues received and expenses incurred for the delivery of DSM programs and services. The Su...
AI summary The document outlines the fund accounting structure for three specific funds: the DSM Fund, the PNS Fund, and the Other Business Fund. Each fund is restricted to specific operations, with cash and interest income retained within the fund for its designated purposes.
Revenue recognition The Corporation follows the deferral method of accounting for revenue. Restricted fee-for-service or contribution revenue is recognized as revenue within the appropriate fund in the year in which the related expenses ar...
AI summary The Corporation uses the deferral method for revenue recognition, with specific rules for restricted fees, contributions, and investment income. Revenue is recognized in the appropriate fund when expenses are incurred or in the year revenue is earned, with special handling for endowment contributions and investment income from the HCi3 endowments.
Efficiency Nova Scotia Revenue Effective January 1, 2023, the Corporation entered into a three-year supply agreement with NS Power to provide demand-side management. The agreement provided funding of $173,000 over three years in monthly in...
AI summary Efficiency Nova Scotia entered into a three-year supply agreement with NS Power starting January 1, 2023, providing demand-side management services. The agreement includes a total funding of $173,000 over three years, with $53,000 in fee-for-service revenue in 2023.
1. NATURE OF OPERATIONS EfficiencyOne ("the Corporation") was incorporated in July 2014 under the Canada Not-for-profit Corporations Act. Under Section 79C of the Public Utilities Act, the Corporation, as the franchise holder, has the excl...
AI summary EfficiencyOne, a not-for-profit corporation, was established under the Canada Not-for-profit Corporations Act and operates under the Public Utilities Act. It manages demand-side management programs and maintains separate funds for operations, including the DSM Fund, PNS Fund, and Other Business Fund. The Corporation follows specific accounting policies, including revenue deferral and fund accounting.
wer and entered into an Undertaking to Pay with NS Power, whereby NS Power was obligated to make 82 equal monthly payments that correspond exactly to the amount and timing of those the Corporation is obligated to make to TD. Both loans wer...
AI summary The text outlines financial details related to a loan repayment and an investment in EfficiencyOne Services Inc. NS Power made monthly payments to TD, and both loans were repaid in 2023. The investment in EfficiencyOne Services Inc. shows financial performance metrics for 2023 and 2022, including assets, liabilities, revenue, expenses, and net earnings.
Corporation's name Business number Tax year end Year Month Day EfficiencyOne 80494 7976 RC0001 2023-12-31 General Index of Financial Information Notes to the financial statements Operating $ 4 $ 1 Change in Cash $ 4 $ 1 Cash - beginning of...
AI summary The document provides a General Index of Financial Information for EfficiencyOne, including details on operating cash flow, capital assets, deferred revenue, and interfund transfers. It discusses financial transactions with EfficiencyOne Services Inc. and the NSUARB-approved Code of Conduct. Capital assets include furniture, fixtures, and leasehold improvements, while interfund transfers are based on the FTE allocator defined in the CAM.
DECEMBER 31, 2023 Page COMPILATION ENGAGEMENT REPORT 2 STATEMENT OF EARNINGS AND RETAINED EARNINGS 3 BALANCE SHEET 4 NOTES TO THE FINANCIAL INFORMATION 5
AI summary The document contains financial statements and related notes from a regulatory proceeding as of December 31, 2023, including a compilation engagement report, statement of earnings and retained earnings, balance sheet, and notes to the financial information.
December 5, 2022 $ 207,200 July 30, 2024 148,000 July 30, 2025 148,000 July 30, 2026 118,400 July 30, 2027 88,800 July 30, 2028 29,600 $ 740,000 The Organization received $207,200 in contributions in 2022 with $198,854 (2022 - $nil) recogn...
AI summary The Organization received $207,200 in contributions in 2022, with $198,854 recognized as revenue for the year. The document also outlines future financial figures for various years.
On March 24, 2023, the Organization entered into a funding agreement with the Province of Nova Scotia, where the Organization received $6,500,000 in endowment contributions, and $1,000,0000 in funding to provide grants in accordance with t...
AI summary On March 24, 2023, the Organization received funding from the Province of Nova Scotia, including a $6.5 million endowment and $1 million for grants under its Grant Program. $149,117 of the grant funding was recognized as revenue in the current year.