In my capacity as Chief Financial Officer of the Canadian Air Transport Security Authority (CATSA), accountable to the Board of Directors of CATSA through the Chief Executive Officer, I have reviewed the 2023/24 – 2027/28 Corporate Plan and budgets, and the supporting information that I considered necessary, as of the date indicated below. Based on this due diligence review, I make the following conclusions:
- The nature and extent of the financial and related information is reasonably described, and assumptions having a significant bearing on the associated financial requirements have been identified and are supported.
- Significant risks having a bearing on the financial requirements, the sensitivity of the financial requirements to changes in key assumptions, and the related risk-mitigation strategies have been disclosed.
- Financial resource requirements have been disclosed and are consistent with the stated assumptions, and options to contain costs have been considered.
- Funding is not sufficient to address the financial requirements for the expected duration of the Corporate Plan, with the following observation: CATSA’s Base funding for 2026/27 – 2027/28 will cover the costs to continue to deliver its mandated activities for a portion of these fiscal years only.
- The Corporate Plan and budgets are compliant with relevant financial management legislation and policies, and the proper financial management authorities are in place.
- Key financial controls are in place to support the implementation of proposed activities and ongoing operations of CATSA.
In my opinion, the Corporate Plan and budgets are sufficient to support decision-making, except for funding as noted in number 4 above.
Nancy Fitchett, CPA, CA
Vice-President, Corporate Affairs and Chief Financial Officer
Canadian Air Transport Security Authority
Date: September 8, 2023