January 22, 2015

 

Governance

Grant Funds Status

In accordance with legislation, virtually all SC expenses are reimbursed from the Plan.  When it was created, the SC received grant funds from the Ministry of Municipal Affairs and Housing (MMAH) to pay for items not payable by the Plan, including start-up costs.
 
The agreement with MMAH indicated that unused grant funds would need to be returned.  The Ministry of Municipal Affairs and Housing directed the SC to return $1,000,000 before the end of April 2014, with the balance to be returned in early 2015.
 
The SC reviewed and approved the final agreement in preparation for returning the balance of the grant funds by the end of March 2015.