The Canada Emergency Wage Subsidy and the Canada Child Benefit are legislated through the Income Tax Act and are considered expenditures for government financial reporting purposes.
Most Employment Insurance costs are paid directly out of the Employment Insurance Operating Account, rather than a departmental appropriation, and are therefore not https://paydayloanadvance.net/payday-loans-oh/ included in the Estimates.
Certain expenditures are funded through departmental revenues. Accrual expenses in the Economic and Fiscal Update are on a gross’ basis, meaning the revenues are included in the accrual-based revenue forecast, while they are netted against expenditures in the Estimates.
The Economic and Fiscal Update is presented on a full accrual basis whereas the Estimates are presented on a modified cash basis. The accrual basis of accounting recognizes income when it is earned and expenses when they are incurred, whereas cash accounting recognizes them when the cash or its equivalent has been paid. As a result, certain items will be reported differently between the two publications. This category also includes costs related to consolidated Crown corporations that are funded from their own revenues, a number of other adjustments necessary to forecast expenses on a fully consolidated basis, as well as adjustments for items that have been approved and earework (at the time of Economic and Fiscal Update and since then).
The Minister of Housing and Diversity and Inclusion was designated as the appropriate Minister for the purposes of the Canada Mortgage and Housing Corporation Act, taking on responsibility for the Corporation (P.C. 2021-0947).
126 organizations are represented in the 202122 Estimates. Of these, 75 organizations are included in these Supplementary Estimates: 5 for information only and 70 for consideration by Parliament.
The items listed in this table are horizontal initiatives and other jointly funded items. Both types of horizontal items generally involve two or more organizations with a formal funding agreement (e.g. Memorandum to Cabinet or Treasury Board submission). Through horizontal initiatives, the organizations work in partnership toward the achievement of shared outcomes. In jointly funded items, organizations receive incremental funding, and each independently contributes to the realization of the stated objective(s).
Her Majesty the Queen in Right of Canada, represented by the President of the Treasury Board, 2022, ISSN: 2292?5058
The Estimates are therefore focused on the government’s cash needs which require parliamentary appropriations and exclude certain items reported in the Economic and Fiscal Update. Costs related to the Employment Insurance benefits, children’s benefits and the Canada Emergency Wage Subsidy are the largest components of the items excluded from the Estimates.