Supporting Information on Lower-Level Programs

Sub-Program 1.1.1: Taxation

Description

This Sub-Program provides analysis, research, and advice to the Minister of Finance so that the Minister can make informed decisions on the Government of Canada’s tax policy agenda. The Sub-Program focuses on personal income tax, business income tax, sales and excise tax, and Aboriginal tax policy. To support the government’s tax policy agenda, senior departmental officials provide advice and recommendations on improving the competitiveness, efficiency, simplicity and fairness of the tax system while generating sufficient revenue to finance government programs and priorities. This Sub-Program develops and evaluates federal taxation policies and legislation, and negotiates international tax treaties, tax information exchange agreements, and tax elements of comprehensive land claim and self-government agreements with Aboriginal governments. The Sub-Program is also involved with international tax policy matters, federal-provincial tax harmonization and coordination, federal-provincial Tax Collection and Reciprocal Taxation Agreements, federal-Aboriginal Tax Administration Agreements, and tax policy research and evaluation.

Budgetary Financial Resources (dollars)
2015–16
Planned Spending
2015–16
Actual Spending
(authorities used)
2015–16
Difference
(actual minus planned)
20,286,303 18,468,409 (1,817,894)
Human Resources (Full-Time Equivalents [FTEs])
2015–16
Planned
2015–16
Actual
2015–16
Difference
(actual minus planned)
148 134 (14)
Performance Results
Expected Results Performance Indicators Targets Actual Results
Ministers and senior government officials have timely access to evidence-based analysis, research and advice on matters that impact the Government of Canada’s tax policy agenda. Percentage of agreed-upon deadlines for briefing material that were met. 90 per cent 100 per cent
Degree to which overall findings of audits and/or evaluations are favourable. Favourable Favourable

Sub-Program 1.1.2: Economic and Fiscal Policy, Planning and Forecasting

Description

This Sub-Program provides analysis, research and advice to ministers and senior government officials so that they can make informed decisions on the Government of Canada’s economic and fiscal agenda. The Sub-Program analyzes the economic and fiscal position of Canada, the provinces and other countries; advises on the government’s economic policy framework, its budget planning framework, and policy priorities; monitors and prepares forecasts of Canada’s economic and fiscal position; plays a lead role in the management of the government’s fiscal framework; and provides analytical support on a wide range of economic and financial issues related to the government’s macroeconomic and structural policies.

Budgetary Financial Resources (dollars)
2015–16
Planned Spending
2015–16
Actual Spending
(authorities used)
2015–16
Difference
(actual minus planned)
16,477,176 15,225,817 (1,251,359)
Human Resources (FTEs)
2015–16
Planned
2015–16
Actual
2015–16
Difference
(actual minus planned)
70 71 1
Performance Results
Expected Results Performance Indicators Targets Actual Results
Ministers and senior government officials have timely access to evidence-based analysis, research and advice on matters that impact the Government of Canada’s economic and fiscal agenda. Percentage of agreed-upon deadlines for briefing material that were met. 90 per cent 100 per cent
Degree to which overall findings of audits and/or evaluations are favourable. Favourable Favourable

Sub-Program 1.1.3: Economic Development Policy

Description

This Sub-Program provides analysis, research and advice to ministers and senior officials so that they can make informed decisions on the fiscal and economic implications of sectoral and microeconomic policy issues, policies and programs. The Sub-Program fulfills the challenge function of the Department of Finance Canada on sectoral and microeconomic policy issues by conducting policy analysis and research regarding the fiscal and economic implications of economic policies and proposals developed by other departments in areas such as innovation, business financing, defence, transportation, public infrastructure, environment, energy and resources, agriculture and fisheries. This Sub-Program provides analysis, research and advice to the Minister of Finance and senior government officials in support of meetings of Cabinet and Cabinet committees, the annual budget and fiscal updates. The Sub-Program also plays a lead role in advising the government on the management of its corporate assets.

Budgetary Financial Resources (dollars)
2015–16
Planned Spending
2015–16
Actual Spending
(authorities used)
2015–16
Difference
(actual minus planned)
4,787,024 5,277,705 490,681
Human Resources (FTEs)
2015–16
Planned
2015–16
Actual
2015–16
Difference
(actual minus planned)
37 41 4
Performance Results
Expected Results Performance Indicators Targets Actual Results
Ministers and senior government officials have timely access to evidence-based analysis, research and advice on the fiscal and economic implications associated with sectoral and microeconomic policy. Percentage of agreed-upon deadlines for briefing material that were met. 90 per cent 100 per cent
Degree to which overall findings of audits and/or evaluations are favourable. Favourable No audits or evaluations of this Sub-Program were conducted in 2015–16.

Sub-Program 1.1.4: Federal-Provincial Relations and Social Policy

Description

This Sub-Program designs fiscal arrangements between Canada and the provinces and territories, to facilitate the funding of shared priorities and to support the provision of reasonably comparable services at reasonably comparable tax rates across the country. The Sub-Program prepares legislation and regulations on major transfers that fall under the responsibility of the Minister of Finance. This Sub-Program also provides analysis, research and advice to ministers and senior government officials on the fiscal and economic implications of federal-provincial relations and social policies, programs and issues. The Sub-Program fulfills the challenge function of the Department of Finance Canada by conducting policy analysis and research regarding the fiscal and economic implications of federal social policies and programs in the areas of health care, justice, immigration, Employment Insurance and pensions, post-secondary education, Aboriginal and cultural programs, and programs for seniors, persons with disabilities, veterans and youth. This Sub-Program provides analysis, research and advice to the Minister of Finance and senior government officials in support of meetings of Cabinet and Cabinet committees, the annual budget, fiscal updates, and responsibilities for Employment Insurance and Canada Pension Plan legislation.

Budgetary Financial Resources (dollars)
2015–16
Planned Spending
2015–16
Actual Spending
(authorities used)
2015–16
Difference
(actual minus planned)
6,121,825 5,811,194 (310,631)
Human Resources (FTEs)
2015–16
Planned
2015–16
Actual
2015–16
Difference
(actual minus planned)
48 49 1
Performance Results
Expected Results Performance Indicators Targets Actual Results
Ministers and senior government officials have timely access to evidence-based analysis, research and advice on the fiscal and economic implications associated with federal-provincial relations and social policies, programs and issues. Percentage of agreed-upon deadlines for briefing material that were met. 90 per cent 98.4 per cent
Degree to which overall findings of audits and/or evaluations are favourable Favourable No audits or evaluations of this Sub-Program were conducted in 2015–16.

Sub-Program 1.1.5: Financial Sector Policy

Description

This Sub-Program provides analysis, research and advice to ministers and senior government officials so that they can make informed decisions on matters that impact the Government of Canada’s financial sector policy agenda. The Sub-Program ensures the overall stability, soundness, efficiency and competitiveness of Canada’s financial sector to support strong and sustainable economic growth. The Sub-Program also provides analysis of Canada’s financial services sector and financial markets, and develops the legislative and regulatory frameworks for federally regulated financial institutions (banks, trust and loan companies, insurance companies and co-operative credit associations) and federally regulated pension plans. This Sub-Program also plays a lead role in the federal strategy to combat money laundering and terrorist financing; in representing Canada at international forums; and in conducting Canada’s relations, and in negotiating Canada’s commitments, with foreign governments in the area of trade in financial services. The Sub-Program works with provinces and territories to improve the capital markets regulatory system.

Budgetary Financial Resources (dollars)
2015–16
Planned Spending
2015–16
Actual Spending
(authorities used)
2015–16
Difference
(actual minus planned)
14,830,400 11,400,684 (3,429,716)
Human Resources (FTEs)
2015–16
Planned
2015–16
Actual
2015–16
Difference
(actual minus planned)
88 86 (2)
Performance Results
Expected Results Performance Indicators Targets Actual Results
Ministers and senior government officials have timely access to evidence-based analysis, research and advice on matters that impact the Government of Canada’s financial sector policy agenda. Percentage of agreed-upon deadlines for briefing material that were met. 90 per cent 82 per cent
Degree to which overall findings of audits and/or evaluations are favourable. Favourable Favourable

Sub-Program 1.1.6: International Trade and Finance

Description

This Sub-Program provides analysis, research and advice to ministers and senior government officials so that they can make informed decisions on the Government of Canada’s international trade and finance policy agenda. The Sub-Program develops and implements policies on trade and tariffs, international development assistance and finance, and global macroeconomic coordination in order to foster sustainable international and domestic economic growth. The Sub-Program also manages the Department of Finance Canada’s participation in international financial institutions, such as the International Monetary Fund and the World Bank; regional multilateral development banks, such as the European Bank for Reconstruction and Development; and international economic coordination groups, such as the G7, the G20 and the Asia-Pacific Economic Co-operation forum.

Budgetary Financial Resources (dollars)
2015–16
Planned Spending
2015–16
Actual Spending
(authorities used)
2015–16
Difference
(actual minus planned)
8,361,811 7,333,063 (1,028,748)
Human Resources (FTEs)
2015–16
Planned
2015–16
Actual
2015–16
Difference
(actual minus planned)
66 56 (10)
Performance Results
Expected Results Performance Indicators Targets Actual Results
Ministers and senior government officials have timely access to evidence-based analysis, research and advice on matters that impact the Government of Canada’s international trade and finance policy agenda. Percentage of agreed-upon deadlines for briefing material that were met. 90 per cent 91 per cent
Degree to which overall findings of audits and/or evaluations are favourable. Favourable No audits or evaluations of this Sub-Program were conducted in 2015–16.

Sub-Program 1.2.1: Fiscal Arrangements with Provinces and Territories

Description

This Sub-Program ensures that the Government of Canada’s fiscal arrangements with provinces and territories are efficiently managed. The Sub-Program administers transfer payments to provinces and territories in compliance with legislation and negotiated agreements. In addition, the Sub-Program sometimes provides additional, time-limited, targeted support to provinces and territories in areas of shared priorities. The Sub-Program uses funding from the following transfer payments: Fiscal Equalization (Part I—Federal-Provincial Fiscal Arrangements Act); Territorial Formula Financing (Part I.1—Federal-Provincial Fiscal Arrangements Act); Canada Health Transfer (Part V.1—Federal-Provincial Fiscal Arrangements Act); Canada Social Transfer (Part V.1—Federal-Provincial Fiscal Arrangements Act); Statutory Subsidies (Constitution Act, 1867; Constitution Act, 1982, and other statutory authorities); Additional Fiscal Equalization to Nova Scotia (Part I—Federal-Provincial Fiscal Arrangements Act); Additional Fiscal Equalization Offset Payment to Nova Scotia (Nova Scotia and Newfoundland and Labrador Additional Fiscal Equalization Offset Payments Act); Youth Allowances Recovery (Federal-Provincial Fiscal Revision Act, 1964); and Alternative Payments for Standing Programs (Part VI—Federal-Provincial Fiscal Arrangements Act).

Budgetary Financial Resources (dollars)
2015–16
Planned Spending
2015–16
Actual Spending
(authorities used)
2015–16
Difference
(actual minus planned)
63,312,908,581 63,609,981,068 297,072,487
Human Resources (FTEs)
2015–16
Planned
2015–16
Actual
2015–16
Difference
(actual minus planned)
4 4 0
Performance Results
Expected Results Performance Indicators Targets Actual Results
Fiscal arrangements with provinces and territories are efficiently managed. Percentage of payments reviewed that did not reveal errors. 100 per cent 100 per cent
Percentage of payments that were made within the required time frames. 100 per cent 100 per cent

Sub-Program 1.2.2: Tax Collection and Administration Agreements

Description

This Sub-Program ensures that the Government of Canada’s tax collection and administration obligations and arrangements and other tax policy-related payments are efficiently managed. The Sub-Program manages the Federal-Provincial Fiscal Arrangements Act, the First Nations Goods and Services Tax Act, and payments to provinces and territories and Aboriginal governments in compliance with the terms and conditions of Tax Collection Agreements, Tax Administration Agreements, and Comprehensive Integrated Tax Coordination Agreements. Payments relate to provincial and territorial personal income tax and corporate income tax, provincial revenue entitlements associated with the harmonized sales tax, and Aboriginal sales and income taxes.

Budgetary Financial Resources (dollars)
2015–16
Planned Spending
2015–16
Actual Spending
(authorities used)
2015–16
Difference
(actual minus planned)
624,586 652,375 27,789
Human Resources (FTEs)
2015–16
Planned
2015–16
Actual
2015–16
Difference
(actual minus planned)
5 5 0
Performance Results
Expected Results Performance Indicators Targets Actual Results
Tax collection and administration obligations/arrangements are efficiently managed. Percentage of payments reviewed that did not reveal errors. 100 per cent 100 per cent
Percentage of payments that were made within the required time frames. 100 per cent 100 per cent

Sub-Program 1.2.3: Commitments to International Financial Organizations

Description

This Sub-Program ensures that the Government of Canada’s commitments to international financial organizations are efficiently funded. The Sub-Program administers the payments and capital subscriptions for Canada’s commitments to international financial institutions, such as the International Development Association of the World Bank, and other regional multilateral development banks, such as the European Bank for Reconstruction and Development. The Sub-Program uses funding from the following transfer payments: Payments to the International Development Association; Debt Payments on Behalf of Poor Countries to International Organizations Pursuant to section 18(1)of the Economic Recovery Act (stimulus); and International Bank for Reconstruction and Development for the Agriculture Advance Market Commitment (Bretton Woods and Related Agreements Act, section 8).

Budgetary Financial Resources (dollars)
2015–16
Planned Spending
2015–16
Actual Spending
(authorities used)
2015–16
Difference
(actual minus planned)
492,924,089 492,924,088 (1)
Human Resources (FTEs)
2015–16
Planned
2015–16
Actual
2015–16
Difference
(actual minus planned)
1 1 0
Performance Results
Expected Results Performance Indicators Targets Actual Results
Commitments to international financial organizations are efficiently funded. Percentage of payments reviewed that did not reveal errors. 100 per cent 100 per cent
Percentage of payments that were made within the required time frames. 100 per cent 100 per cent

Sub-Program 1.2.4: Receipts From and Payments to Individuals and Organizations

Description

This Sub-Program ensures that payments owed to, and due from, individuals and organizations are efficiently managed. The Sub-Program administers payments in compliance with the agreed terms and conditions. The Sub-Program uses funding from the following transfer payment: Harbourfront Centre Funding Program (Vote 5).

Budgetary Financial Resources (dollars)
2015–16
Planned Spending
2015–16
Actual Spending
(authorities used)
2015–16
Difference
(actual minus planned)
3,144,000 3,000,000 (144,000)
Note: Operating expenditures for this Sub-Program were charged to Sub-Program 1.1.3.
Human Resources (FTEs)
2015–16
Planned
2015–16
Actual
2015–16
Difference
(actual minus planned)
1 0 (1)
Note: The FTE for this Sub-Program was charged to Sub-Program 1.1.3.
Performance Results
Expected Results Performance Indicators Targets Actual Results
Payments owed to, and due from, individuals and organizations are efficiently managed. Percentage of payments reviewed that did not reveal errors. 100 per cent 100 per cent
Percentage of payments that were made within the required time frames. 100 per cent 100 per cent

Sub-Program 1.3.1: Federal Debt Management

Description

This Sub-Program provides analysis, research and advice to ministers and senior government officials on the management of the federal debt. The government’s debt management program includes the payment of interest costs on existing debt instruments and the servicing costs for new borrowings. The Sub-Program ensures that the Government of Canada can fund its financial requirements on a timely and effective basis.

Budgetary Financial Resources (dollars)
2015–16
Planned Spending
2015–16
Actual Spending
(authorities used)
2015–16
Difference
(actual minus planned)
25,615,876,000 22,991,553,892 (2,624,322,108)
Human Resources (FTEs)
2015–16
Planned
2015–16
Actual
2015–16
Difference
(actual minus planned)
10 11 1
Performance Results
Expected Results Performance Indicators Targets Actual Results
The Government of Canada is able to fund its financial requirements on a timely and effective basis. Percentage of funding requirements met within the required time frames. 100 per cent 100 per cent
Ratio of auctions that are fully covered (Bid cover ratio). 1 or higher 1

Sub-Program 1.3.2: Major Federal-Backed Entities’ Borrowing

Description

This Sub-Program provides analysis, research and advice to ministers and senior government officials on the borrowing activities of major entities that are backed by the full faith and credit of the government such as Crown corporations and similar entities. The Sub-Program ensures that major federal government-backed entities receive timely and effective funding and that their borrowing is cost-effective and compliant with the principles of prudent risk management.

Budgetary Financial Resources (dollars)
2015–16
Planned Spending
2015–16
Actual Spending
(authorities used)
2015–16
Difference
(actual minus planned)
619,000 573,124 (45,876)
Human Resources (FTEs)
2015–16
Planned
2015–16
Actual
2015–16
Difference
(actual minus planned)
5 5 0
Performance Results
Expected Results Performance Indicators Targets Actual Results
The Government of Canada is able to provide funding to federal government entities on a timely and effective basis. Ratio of administrative costs of the Crown Borrowing Program to those of a comparable lending desk in the private sector. 1 or below 1

Sub-Program 1.3.3: Prudential Liquidity and Reserves Management

Description

This Sub-Program provides analysis, research and advice to ministers and senior government officials on the management of prudential liquidity and reserves. The Sub-Program ensures that the Government of Canada can meet its liquidity needs on a timely and effective basis. The Sub-Program safeguards the government’s ability to meet payment obligations in situations where normal access to funding markets may be disrupted, and promotes foreign currency liquidity and orderly conditions for the Canadian dollar in foreign exchange markets, if needed. Prudential liquidity and reserves management involves maintaining domestic cash deposits at the Bank of Canada and financial institutions, and acquiring and managing cash reserves, loans, investments and advances in the government’s Exchange Fund Account.

Budgetary Financial Resources (dollars)
2015–16
Planned Spending
2015–16
Actual Spending
(authorities used)
2015–16
Difference
(actual minus planned)
1,072,000 (289,692,166) (290,764,166)
Note: Planned spending reflects FTE support for this Sub-Program. Actual spending includes forecasted expenditures that were included in the 2015–16 planned spending estimates for Sub-Program 1.3.1. The planned spending forecasts for Sub-Programs 1.3.1 and 1.3.3 are consistent with the forecasts provided in the 2015–16 Main Estimates for “Interest on Unmatured Debt” and “Other Interest Costs.”
Human Resources (FTEs)
2015–16
Planned
2015–16
Actual
2015–16
Difference
(actual minus planned)
9 9 0
Performance Results
Expected Results Performance Indicators Targets Actual Results
The Government of Canada is able to meet its liquidity needs on a timely and effective basis. Percentage of weeks that the prudential target liquidity level of 20 business days is met. 100 per cent 100 per cent
Level of liquid reserves as a percentage of nominal GDP. 3 per cent 3 per cent

Sub-Program 1.3.4: Domestic Currency System

Description

This Sub-Program provides analysis, research and advice to ministers and senior government officials on the currency system, which involves the production of banknotes by the Bank of Canada and the circulation of coinage by the Royal Canadian Mint. The Sub-Program ensures that the Government of Canada has a cost-effective, adequate and robust supply of domestic currency to meet the needs of the Canadian economy.

Budgetary Financial Resources (dollars)
2015–16
Planned Spending
2015–16
Actual Spending
(authorities used)
2015–16
Difference
(actual minus planned)
108,433,000 90,994,553 (17,438,447)
Human Resources (FTEs)
2015–16
Planned
2015–16
Actual
2015–16
Difference
(actual minus planned)
4 4 0
Performance Results
Expected Results Performance Indicators Targets Actual Results
Canada has an adequate supply of domestic currency to meet the needs of its economy. Percentage of payments that were made within the required time frames (7 business days). 90 per cent 100 per cent
Percentage of price and volume limit commitments met under the Memorandum of Understanding with the Royal Canadian Mint. 100 per cent 100 per cent