Question Period Note: Public accounts of Canada 2023

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About

Reference number:
DEC-2023-QP-00054
Date received:
Oct 18, 2023
Organization:
Canada Economic Development for Quebec Regions
Name of Minister:
Martinez Ferrada, Soraya (Hon.)
Title of Minister:
Minister responsible for the Economic Development Agency of Canada for the Regions of Quebec

Issue/Question:

Public accounts of Canada 2023

Suggested Response:

  • The Government of Canada takes the stewardship of all public funds and property very seriously.

  • Canada Economic Development for Quebec Regions used 544.1 million dollars out of a total budget of 715.2 million dollars.

  • Of the unused balance of 171.1 million dollars, 122.6 million dollars has been carried over to future years, and a carryover request for 6.3 million dollars is currently being analyzed.

  • A balance of 42.2 million dollars (5.9% of the allocated budget) was returned to Treasury Board.

The total amount (171.1 million dollars) unused by CED in fiscal 2022–23 includes:
* 1.3 million dollars (2.8% of the operating budget)
* 169.8 million dollars (25.7% of the grant and contribution budget)

The unused $169.8 million is the result of labor shortages and delays in the supply chain, as well as the impact of inflation on material costs in 2022-2023. These have slowed down the completion of various projects by companies and non-profit organizations.

Background:

  • The Public Accounts of Canada 2023, containing the consolidated financial statements of the Government of Canada (see Volume I, Section 2), was tabled in the House of Commons on October 24, 2023.

Grants and contributions
* CED received approval to carryover unused funds totaling $122.6 million from 2022-23 to 2023-24 as follows:
* 41,5 million for the Major Festivals and Events Support Initiative (MFESI)
* 27,0 million for the Canadian Community Revitalization Fund (CCRF)
* 22,5 million for the Tourism Relief Fund (TRF)
* 16,6 million for the Initiative for the Development of Regional Economic Infrastructure in Quebec (IDI)
* 15,0 million for the Aerospace Regional Recovery Initiative (ARRI)

Operating
* Departments are authorized to carryover eligible funds from one fiscal year to the next, up to a maximum of 5% of the operating budget contained in the Main Estimates. CED's unused funds of $1.3 million will be carried over to fiscal 2023-24. A further $0.5 million in technical adjustments has been added to the $1.3 million, for a total authorized carryover of $1.8 million. These are costs absorbed by the department, such as parental leave allowances and severance pay.

Additional Information:

The Public Accounts of Canada 2023 contain the consolidated financial statements of the Government of Canada. Canada Economic Development for Quebec Regions (CED) has demonstrated a very good use of public funds.