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ARCHIVED - Western Economic Diversification Canada

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Table 4: Up-Front Multi-Year Funding

Name of Recipient: Primrose Lake Economic Development Corporation

Start Date: March 30, 2007

End Date: March 31, 2027

Total Funding: $15,000,000

Description: Create a community controlled trust fund for economic development

Strategic Outcome(s): SO 2 - Economically viable communities in Western Canada with a high quality of life.

Summary of Results Achieved by the Recipient: Over the past year the Board was active at getting organized and completing the research and payout of the Elders component of the parallel agreement with the province. By year end a total of 192 Elders or their estates were recognized through this process. The Board also continued building Board capacity through providing governance training for its members, and began developing a policy framework to guide operations. All interest earned in the trust was re-invested in the trust at year-end or directed towards outstanding legal obligations associated with the establishment of the non-profit corporation and negotiations with the federal government.

Program Activity:
($ thousands)
$15,000,000 $0 $0 $0 $0 $0

Comments on Variance(s): Not applicable

Significant Evaluation findings by the recipient during the reporting year and future plan:
WD agreement requires that an evaluation be completed by March 2012.

Significant Audit findings by the recipient during the reporting year and future plan:
No audits performed to date. Date for an audit in the future has not yet been identified.

URL to Recipient's Site: Not applicable