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Heading 1

Le FMI devrait veiller à ce que les programmes appuyés par le Fonds de fiducie pour la réduction de la pauvreté et pour la croissance prévoient toujours des analyses approfondies de la viabilité de la dette et, s’il y a lieu, des plafonds de prêt explicites (que les prêts soient ou non accordés à des conditions de faveur) conformes à la politique de prêt non concessionnel de l’institution prêteuse

Heading 2

Le FMI devrait veiller à ce que les programmes appuyés par le Fonds de fiducie pour la réduction de la pauvreté et pour la croissance prévoient toujours des analyses approfondies de la viabilité de la dette et, s’il y a lieu, des plafonds de prêt explicites (que les prêts soient ou non accordés à des conditions de faveur) conformes à la politique de prêt non concessionnel de l’institution prêteuse

Heading 3

Le FMI devrait veiller à ce que les programmes appuyés par le Fonds de fiducie pour la réduction de la pauvreté et pour la croissance prévoient toujours des analyses approfondies de la viabilité de la dette et, s’il y a lieu, des plafonds de prêt explicites (que les prêts soient ou non accordés à des conditions de faveur) conformes à la politique de prêt non concessionnel de l’institution prêteuse

Heading 4

Le FMI devrait veiller à ce que les programmes appuyés par le Fonds de fiducie pour la réduction de la pauvreté et pour la croissance prévoient toujours des analyses approfondies de la viabilité de la dette et, s’il y a lieu, des plafonds de prêt explicites (que les prêts soient ou non accordés à des conditions de faveur) conformes à la politique de prêt non concessionnel de l’institution prêteuse

Heading 5

Le FMI devrait veiller à ce que les programmes appuyés par le Fonds de fiducie pour la réduction de la pauvreté et pour la croissance prévoient toujours des analyses approfondies de la viabilité de la dette et, s’il y a lieu, des plafonds de prêt explicites (que les prêts soient ou non accordés à des conditions de faveur) conformes à la politique de prêt non concessionnel de l’institution prêteuse

Heading 6

Le FMI devrait veiller à ce que les programmes appuyés par le Fonds de fiducie pour la réduction de la pauvreté et pour la croissance prévoient toujours des analyses approfondies de la viabilité de la dette et, s’il y a lieu, des plafonds de prêt explicites (que les prêts soient ou non accordés à des conditions de faveur) conformes à la politique de prêt non concessionnel de l’institution prêteuse

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Prochaines étapes
Priorité 3.1 – Viabilité de l’endettement
Le FMI et le Groupe de la Banque mondiale devraient fournir des ressources financières aux pays en développement selon des modalités qui favoriseront le développement sans mettre en péril la viabilité de la dette de ces pays ni créer un risque de défaillance.
Nouveau
Mesure à moyen terme
Le FMI et la Banque mondiale devraient continuer de collaborer avec d’autres organisations, comme la Conférence des Nations Unies sur le commerce et le développement (CNUCED) et l’Organisation de coopération et de développement économiques (OCDE), afin que les lignes directrices de ces dernières en matière de prêt responsable concordent avec le Cadre de viabilité de la dette du FMI et de la Banque mondiale.
Échéancier
2011–2013
Nouveau
Mesure à moyen terme
Le FMI devrait veiller à ce que les programmes appuyés par le Fonds de fiducie pour la réduction de la pauvreté et pour la croissance prévoient toujours des analyses approfondies de la viabilité de la dette et, s’il y a lieu, des plafonds de prêt explicites (que les prêts soient ou non accordés à des conditions de faveur) conformes à la politique de prêt non concessionnel de l’institution prêteuse.
Échéancier
2011–2013

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Tag Legend
 
Theme I: Addressing Climate Change and Air Quality
Theme I: Addressing Climate Change and Air Quality
 
 
Theme II: Maintaining Water Quality and Availability
Theme II: Maintaining Water Quality and Availability
 
Theme III: Protecting Nature
Theme III: Protecting Nature
 

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Niveau dexposition lev
Niveau dexposition moyen
Niveau dexposition faible

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Summary of the Audit Finding and its Impact

As part of its role relating to the management of circulating Canadian coins, the Department has a Memorandum of Understanding (MOU) with the RCM, specifying the responsibilities of each organization, the agreed upon costs related to the production of coins, and the inventory maximums for each denomination.

Although the Department records General Circulation Coinage inventory as part of the year-end reconciliation process, FSPB does not regularly monitor inventory levels throughout the fiscal year. Without regular monitoring of inventory, there is an increased risk of over-payment, and FSPBs ability to effectively manage inventory-related costs is reduced.

Regular monitoring of the General Circulation Coinage inventory will mitigate the aforementioned risks and will improve the Departments ability to manage the circulation of Canadian coins. It is important to note that during the course of the audit, management began taking action to strengthen this area, after they were informed about this issue by the audit team.


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Summary of the Audit Finding and its Impact

As part of its role relating to the management of circulating Canadian coins, the Department has a Memorandum of Understanding (MOU) with the RCM, specifying the responsibilities of each organization, the agreed upon costs related to the production of coins, and the inventory maximums for each denomination.

Although the Department records General Circulation Coinage inventory as part of the year-end reconciliation process, FSPB does not regularly monitor inventory levels throughout the fiscal year. Without regular monitoring of inventory, there is an increased risk of over-payment, and FSPBs ability to effectively manage inventory-related costs is reduced.

Regular monitoring of the General Circulation Coinage inventory will mitigate the aforementioned risks and will improve the Departments ability to manage the circulation of Canadian coins. It is important to note that during the course of the audit, management began taking action to strengthen this area, after they were informed about this issue by the audit team.

Recommendation

We agree with this audit finding and the recommendation. Corporate Accounting & Public Debt of the Corporate Services Branch identified this issue during the 2009/10 annual reconciliation.

We are pleased to report that the Financial Sector Policy Branch (FSPB), in consultation with the Royal Canadian Mint (RCM), has developed and implemented a remedial action plan. Effective September 17, 2010, the RCM is reporting current General Circulation Coinage inventory levels against approved levels (as contained in the MOU with the RCM), as part of the biweekly invoice submitted to FSPB. These levels are verified for compliance with the MOU prior to approving payment.

Management Response

It is recommended that the ADM, Financial Sector Policy Branch put in place controls to ensure that the General Circulation Coinage inventory is regularly monitored.


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  1. Chocolate
  2. Vanilla
  3. Neapolitan
  4. Rocky Road

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  1. Chocolate
  2. Vanilla
  3. Neapolitan
  4. Rocky Road

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  1. Chocolate
  2. Vanilla
  3. Neapolitan
  4. Rocky Road

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  1. Chocolate
  2. Vanilla
  3. Neapolitan
  4. Rocky Road

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Position Number
00005547
Position Title
TRANSACTION ADVISOR
Previous Position Classification
CR 05
Previous Supervisory Differential
CR
Reclassified Position Classification
AS 02
Reclassified Supervisory Differential
AS
Job Number
 
Reason for Classification Decision
Change of duties

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Reconciliation of Federal Net Debt on a National Accounts
and a Public Accounts Basis
($ billions) (% of GDP)
Net debt (Public Accounts basis) 616.9 38.0
Less: Liability for public sector pensions 146.1 9.0
Liability for other employee and veteran future benefits Liability for other employee and veteran future benefits Liability for other employee and veteran future benefits Liability for other employee and veteran future benefits 58.2 3.6
Other1 -0.9 -0.1
 
Total federal net debt (National Accounts basis) 413.5 25.5
Sources: Statistics Canada and Public Accounts of Canada 2011.
1 Other includes timing differences (National Accounts data are as of December 31), differences in the universe covered by each accounting system, and differences in accounting treatments of various transactions such as capital gains and asset valuations.
[Source: http://www.fin.gc.ca/treas/evaluations/tpb-dpi-eng.asp#toch]

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Table 3
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  June   April to June  
 
 
 
  2012
($ millions)
2013
($ millions)
Change
(%)
2012–13
($ millions)
2013–14
($ millions)
Change
(%)
Major transfers to persons            
  Elderly benefits 3,315 3,428 3.4 9,885 10,289 4.1
  Employment Insurance benefits 1,180 1,174 -0.5 4,273 4,205 -1.6
  Children's benefits 1,046 1,073 2.6 3,259 3,306 1.4
 

  Total 5,541 5,675 2.4 17,417 17,800 2.2
Major transfers to other levels
  of government
  Support for health and other
    social programs
    Canada Health Transfer 2,402 2,544 5.9 7,205 7,633 5.9
    Canada Social Transfer 988 1,018 3.0 2,965 3,054 3.0
 

    Total 3,390 3,562 5.1 10,170 10,687 5.1
  Fiscal arrangements and other transfers 1,497 1,566 4.6 5,064 5,303 4.7
  Canada's cities and communities 1,035 957 -7.5 1,035 1,015 -1.9
  Quebec Abatement -343 -359 4.7 -1,030 -1,077 4.6
 

  Total 5,579 5,726 2.6 15,239 15,928 4.5
Direct program expenses
  Transfer payments
    Aboriginal Affairs and
      Northern Development
486 371 -23.7 1,650 1,593 -3.5
    Agriculture and Agri-Food 88 26 -70.5 219 130 -40.6
    Foreign Affairs and
      International Trade
115 303 163.5 629 644 2.4
    Health 181 250 38.1 674 775 15.0
    Human Resources and
      Skills Development1
577 614 6.4 1,418 1,251 -11.8
    Industry 215 165 -23.3 437 518 18.5
    Other 830 1,159 39.6 2,482 3,076 23.9
 

    Total 2,492 2,888 15.9 7,509 7,987 6.4
  Other direct program expenses
    Crown corporations1 501 592 18.2 1,996 1,877 -6.0
    National Defence 1,433 1,717 19.8 4,275 4,880 14.2
    All other departments
      and agencies
3,507 3,661 4.4 10,418 10,940 5.0
 

    Total other direct program expenses 5,441 5,970 9.7 16,689 17,697 6.0
 

  Total direct program expenses 7,933 8,858 11.7 24,198 25,684 6.1
 

Total program expenses 19,053 20,259 6.3 56,854 59,412 4.5
Public debt charges 2,569 2,304 -10.3 7,829 7,670 -2.0
 

Total expenses 21,622 22,563 4.4 64,683 67,082 3.7
Note: Totals may not add due to rounding.
1 Comparative figures have been restated to reflect the reclassification of expenses under Canada Mortgage and Housing Corporation - Minister's Account from Crown corporation expenses to transfer payments made by Human Resources and Skills Development.

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Minister Flaherty's tour of France battlefields

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Minister Flaherty's tour of France battlefields

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Minister Flaherty's tour of France battlefields

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Minister Flaherty's tour of France battlefields

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Minister Flaherty's tour of France battlefields

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Minister Flaherty's tour of France battlefields

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Access to Information Act Designation Order. For details, refer to the preceding paragraph.

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Access to Information Act Designation Order. For details, refer to the preceding paragraph.

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Canada has outperformed all other G-7 economies
in job creation and GDP growth over the recovery
Chart 1
Improvement in Employment Over the Recovery Chart 1a - Improvement in Employment Over the Recovery.  For more details, see previous paragraph
Note: Monthly data for Canada (July 2009 to February 2013), the U.S. (February 2010 to February 2013), Germany (July 2009 to January 2013), Italy (at its lowest as of January 2013) and Japan (December 2012 to January 2013). Quarterly data for France (2009Q4 to 2012Q4) and the U.K. (2010Q4 to 2012Q4).
Improvement in Real GDP Over the Recovery Chart 1b - Improvement in    Real GDP  
				Over the Recovery.  For more details, see previous paragraph.
Note: The trough in real GDP occurs in 2009Q1 for Germany and Japan, and in 2009Q2 for Canada, France, the U.K. and the U.S. Data up to 2012Q4.

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Canada has outperformed all other G-7 economies
in job creation and GDP growth over the recovery
Chart 1
Improvement in Employment Over the Recovery Chart 1a - Improvement in Employment Over the Recovery.  For more details, see previous paragraph
Note: Monthly data for Canada (July 2009 to February 2013), the U.S. (February 2010 to February 2013), Germany (July 2009 to January 2013), Italy (at its lowest as of January 2013) and Japan (December 2012 to January 2013). Quarterly data for France (2009Q4 to 2012Q4) and the U.K. (2010Q4 to 2012Q4).
Improvement in Real GDP Over the Recovery Chart 1b - Improvement in    Real GDP  
				Over the Recovery.  For more details, see previous paragraph.
Note: The trough in real GDP occurs in 2009Q1 for Germany and Japan, and in 2009Q2 for Canada, France, the U.K. and the U.S. Data up to 2012Q4.
Improvement in Employment Over the Recovery Chart 1a - Improvement in Employment Over the Recovery.  For more details, see previous paragraph
Note: Monthly data for Canada (July 2009 to February 2013), the U.S. (February 2010 to February 2013), Germany (July 2009 to January 2013), Italy (at its lowest as of January 2013) and Japan (December 2012 to January 2013). Quarterly data for France (2009Q4 to 2012Q4) and the U.K. (2010Q4 to 2012Q4).
Improvement in Real GDP Over the Recovery Chart 1b - Improvement in    Real GDP  
				Over the Recovery.  For more details, see previous paragraph.
Note: The trough in real GDP occurs in 2009Q1 for Germany and Japan, and in 2009Q2 for Canada, France, the U.K. and the U.S. Data up to 2012Q4.

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Revenues and expenses (April 2012 to March 2013)
Revenues and expenses (April 2012 to March 2013) - For details, refer to preceding paragraphs.
Note: Totals may not add due to rounding.

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Figure 1: ITFB Resource Utilization, 2005–06 to 2011–12 Figure 1: ITFB Resource Utilization, 2005–06 to 2011–12. For details, refer to the preceding paragraph.

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Challenging Work that Counts

At Finance Canada we provide leadership in helping the Government of Canada develop the economic and social policies that will improve the standard of living and quality of life of Canadians, their families and their communities. Our six policy branches provide unparalleled opportunities to work on issues like economic and fiscal forecasting, the federal budget, G-20 and G-7 meetings, federal transfers to the provinces and territories, tax policy, and financial sector regulation. We work on challenging policy issues, and you will have access to decision makers and be able to influence important public policy decisions.

A Collegial, Team-Oriented Work Environment

We are a dynamic organization that includes about 350 economists and policy analysts. Recruits work closely with colleagues within their teams, but also interact with others across the Department by working on crosscutting policy issues or by attending one of the numerous workshops, retreats and informal gatherings that take place throughout the year.

Diversity and Respect

We believe that diverse backgrounds, perspectives and approaches are essential to the development of the best public policies. As such, we encourage applications from Aboriginal people, women, persons with disabilities, and members of visible minorities.

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Archived information

Archived information

Archived information is provided for reference, research or recordkeeping purposes. It is not subject to the Government of Canada Web Standards and has not been altered or updated since it was archived. Please contact us to request a format other than those available.


Table title
(millions of dollars)
Year source
revenues
cash
transfers
Total
revenues
program
expenditures
Debt
charges
Total
expenditures
Other1 Deficit
(-)or
surplus
Generations
Fund
Stabilization
Reserve
Others2 Reported
Balance
Net
debt
1990-91 26,073 6,972 33,045 31,583 4,437 36,020 - -2,975 - - - -2,975 37,558
1991-92 27,720 6,747 34,467 34,102 4,666 38,768 - -4,301 - - - -4,301 41,885
1992-93 27,561 7,764 35,325 35,599 4,756 40,355 - -5,030 - - - -5,030 46,914
1993-94 28,165 7,762 35,927 35,534 5,316 40,850 - -4,923 - - - -4,923 51,837
1994-95 28,815 7,494 36,309 36,248 5,882 42,130 - -5,821 - - - -5,821 57,677
1995-96 30,000 8,126 38,126 36,039 6,034 42,073 - -3,947 - - - -3,947 61,624
1996-97 30,522 6,704 37,226 34,583 5,855 40,438 - -3,212 - - - -3,212 64,833
1997-98 30,415 5,656 36,071 33,037 6,765 39,802 1,539 -2,192 - - - -2,192 88,404
1998-99 32,936 7,813 40,749 35,440 6,573 42,013 1,390 126 - - - 126 88,461
1999-00 35,417 6,064 41,481 36,074 6,752 42,826 1,375 30 - - - 30 88,886
2000-01 37,447 7,895 45,342 38,394 6,972 45,366 1,401 1,377 - -950 - 427 88,208
2001-02 35,638 8,885 44,523 40,377 6,687 47,064 1,613 -928 - 950 - 22 92,261
2002-03 37,301 8,932 46,233 42,111 6,583 48,694 1,767 -694 - - - -694 95,457
2003-04 38,819 9,370 48,189 43,598 6,655 50,253 1,706 -358 - - - -358 97,025
2004-05 41,069 9,229 50,298 45,619 6,853 52,472 1,510 -664 - - - -664 99,042
2005-06 45,743 9,969 55,712 49,230 6,874 56,104 429 37 - - - 37 104,683
2006-07 49,492 11,025 60,517 51,889 6,925 58,814 290 1,993 -584 -1,300   109 122,191
2007-08 49,464 13,629 63,093 54,826 7,021 61,847 404 1,650 -449 -1,201   0 124,318
2008-09 48,893 14,023 62,916 58,550 6,504 65,054 880 -1,258 -587 1,845 - 0 128,793
2009-10 47,994 15,161 63,155 61,579 6,117 67,696 1,601 -2,940 -725 433 58 -3,174 151,100
2010-11 47,225 15,425 62,650 60,165 6,984 67,149 2,109 -2,390 -760 - - -3,150 159,289
2011-12 50,272 15,243 65,515 61,503 7,348 68,851 1,548 -1,788 -840 - - -2,628 167,111
2012-13 52,942 15,710 68,652 62,642 7,822 70,464 -628 -2,440 -936 - 1,876 -1,500 176,575
Source: Public Accounts of Quebec, supplimented by historical budget figures as required. (for 2011-12: 2013 Budget, for 2012-13: 2013 Spring Update). 
(1) Includes the net results of consolidated organizations, contingency reserves, accounting reforms, exceptional loss relating to Gentilly-2 decomission in 2012-13.
(2) Includes accounting changes, exclusion of exceptional loss relating to Gentilly-2 decomission in 2012-13.Due to a break in the series following the implementation of the accounting reform, data from 1997-98 onward are not directly comparable with earlier years.