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.
| 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.
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