Details on Transfer Payment Programs (Exceeding $5 million during the reporting year)

Name of transfer payment program: Nova Scotia Crown Share Adjustment Payments Regulations (Statutory)

Start date: June 1, 2012

End date: Perpetuity

Description: The Minister of Natural Resources is obliged under sections 246 to 249 of the Canada-Nova Scotia Offshore Petroleum Resources Accord Implementation Act (the 'Accord Act') to make Crown Share Adjustment payments to the Province of Nova Scotia from the Consolidated Revenue Fund.

Strategic outcome: 1) Canada’s Natural Resource Sectors are Globally Competitive

Results achieved: 100% of payments have been made in a timely fashion, and no delays are anticipated for the upcoming payments.

Program: 1.4) Statutory Programs – Atlantic Offshore ($ millions)
2010-11
Actual
Spending
2011-12
Actual
Spending
2012-13
Planned
Spending
2012-13
Total
Authorities
2012-13
Actual
Spending
Variances
Total Contributions 0.0 0.0 0.0 57.8 57.8 -57.8
Total Program 0.0 0.0 0.0 57.8 57.8 -57.8

Comments on variances: The Regulations regarding Crown Share Adjustment payments – Crown Share Adjustment Payments Regulations – were gazetted in June 2012. The forecast for planned spending was prepared after the regulations came into force.

Audits completed or planned: N/A

Evaluations planned: N/A

Engagement of applicants and recipients: Canada’s calculation of Crown Share Adjustment payments is provided in full to the province.