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Section III Supplementary Information

3.1 Financial Highlights

The financial highlights presented within this Departmental Performance Report are intended to serve as a general overview of HRSDC's financial position and operations. The Department's unaudited consolidated financial statements are available online at www.hrsdc.gc.ca/eng/publications_resources/dpr/dpr/
financial_statement/dpr_1011_financial_e.shtml
.

HRSDC is financed by the Government of Canada through parliamentary authorities. Financial reporting of authorities provided to HRSDC do not parallel financial reporting according to generally accepted accounting principles since authorities are primarily based on cash flow requirements. Consequently, items recognized in the Consolidated Statement of Operations and the Consolidated Statement of Financial Position are not necessarily the same as those provided through authorities from Parliament. A reconciliation between authorities used and the net cost of operations is set out in Note 3 of the Department's consolidated financial statements.

These consolidated financial statements include the transactions of the Employment Insurance Operating (EIO) Account, a sub-entity under the control of HRSDC. The accounts of this sub-entity have been consolidated with those of HRSDC and all inter-organizational balances and transactions have been eliminated. The balance of the Canada Pension Plan (CPP) assets on deposit in the Consolidated Revenue Fund and the actuarial value of the Government Annuities Account (GAA) are presented as liabilities in the departmental statements.

The purpose of this section is to explain the Department's 2010-2011 financial highlights, based on the Department's consolidated financial statements. The charts below illustrate the ending balances, as of March 31, for each major financial statement grouping, along with the corresponding change from the previous fiscal year. In summary, between 2009-2010 and 2010-2011, the Department's assets increased by 0.5%, its liabilities decreased by 10.4%, its expenses decreased by 0.2%, and its revenues increased by 4.7%. Below the charts are explanations for the variances in each major grouping based on the most significant factors that affected each grouping during the fiscal year.

Condensed Statement of Financial Position
As at March 31 ($ millions)
  % Change 2011 2010
Total Assets 0.5% 14,405.7 14,341.1
Total Liabilities -10.4% 2,487.6 2,777.4
Total Equity 3.1% 11,918.1 11,563.7

3.2 Financial Highlights Charts/Graphs

Assets by Type

Assets by Type

Text description of Assets by Type

Total assets amounted to $14,405.7 million as at March 31, 2011, an increase of $64.6 million (0.5%) over the previous year's total assets of $14,341.1 million. The increase in assets is mainly due to an increase of $695.0 million in Canada Student Loans caused by an excess of new loans disbursed over the total amount of repayments. This increase was partially offset by a decrease of $328.8 million in the amount due from the Consolidated Revenue Fund and a decrease of $273.8 million in the Accounts receivable and advances caused by the recovery, in 2010-2011, of the 2009-2010 Quebec Parental Insurance Plan account receivable.

Liabilities by Type

Liabilities by Type

Text description of Liabilities by Type

Total liabilities amounted to $2,487.6 million as at March 31, 2011, a decrease of $289.8 million (10.4%) over the previous year's total liabilities of $2,777.4 million. The decrease in liabilities is mainly due to a decrease in Accounts payable and accrued liabilities caused by a one time account payable in 2009-2010 with respect to interest earned on the EI Account which had been repealed in 2009-2010, and a decrease in the amount due to CPP caused by the timing of the cash on deposit to the Receiver General for Canada.

Condensed Consolidated Statement of Operations
As at March 31 (in million of dollars)
  % Change 2011 2010
Expenses
Transfer payments (-0.5%) 62,124.6 62,466.0
Operating expenses (4.9%) 3,783.0 3,605.1
Total expenses (-0.2%) 65,907.6 66,071.1
Revenues
EI revenues (4.3%) 17,919.9 17,177.0
Other (13.4%) 817.6 720.9
Total revenues 4.7% 18,737.5 17,897.9
Net Cost of Operations (-2.1%) 47,170.1 48,173.2

Expenses by Major Program Activity

Expenses by Major Program Activity

Text description of Expenses by Major Program Activity

Total expenses for the 2010-2011 year amounted to $65,907.6 million, a decrease of $163.5 million (0.2% ) over the previous year's total expenses of $66,071.1 million. The decrease in total expenses is mostly attributable to:

  • A decrease of $1,685.2 million in Skills and Employment expenses due to a decrease in the average unemployment rate from 8.4% in 2009-2010 to 7.9% in 2010-2011 which results from the economic recovery;
  • An increase of $990.8 million in Income Security expenses due to the increase in the eligible Old Age Security / Guaranteed Income Supplement benefits caused by the aging population and the increase in the monthly benefit amount;
  • An increase of $361.7 million in Learning expenses due to the new Canada Student Grants Program, the Canada Education Savings Incentive Program and the increase in the allowance for bad debts on Canada Student Loans caused by a greater number of loans;
  • An increase of $120.7 million in Social Development expenses mostly due to the increase in the Universal Child Care Benefit Program caused by the increasing number of children eligible for these benefits.

Revenues by Major Program Activity

Revenues by Major Program Activity

Text description of Revenues by Major Program Activity

Total revenues for the 2010-2011 year amounted to $18,737.5 million, an increase of $839.6 million (4.7%) over the previous year's total revenues of $17,897.9 million. The majority of this increase can be explained by an increase in Employment Insurance Premiums related to the economic recovery and its impact on the employment that went up by an average of 1.89% over 2010-2011 and to the increase in the maximum insurable earnings.

3.3 Financial Statements

http://www.hrsdc.gc.ca/eng/publications_resources/dpr/dpr/financial_statement/dpr_10-11_financial_e.shtml

List of Supplementary Information Tables

All electronic supplementary information tables found in the 2010-2011 Departmental Performance Report can be found on the Treasury Board of Canada Secretariat's website at www.tbs-sct.gc.ca/dpr-rmr/2010-2011/index-eng.asp

  • Sources of Respendable and Non-Respendable Revenue
  • User Fees Reporting
  • Details of Transfer Payment Programs
  • Horizontal Initiatives
  • Green Procurement
  • Response to Parliamentary Committees and External Audits
  • Internal Audits and Evaluations

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Section IV - Other Items of Interest

4.1 Specified Purpose Accounts

Introduction

Specified Purpose Accounts consist of special categories of revenues and expenditures. They report transactions of certain accounts where enabling legislation requires that revenues be earmarked and that related payments and expenditures be charged against such revenues. The transactions of these accounts are to be accounted for separately.

HRSDC is responsible for the stewardship of five such accounts:

  • the EI Operating Account;
  • the CPP;
  • the Government Annuities Account;
  • the Civil Service Insurance Fund; and
  • the Canada Millennium Scholarship Foundation Excellence Awards Fund.

The EI Operating Account is a consolidated Specified Purpose Account and is included in the financial reporting of the Government of Canada. Consolidated Specified Purpose Accounts are used principally where the activities are similar in nature to departmental activities and the transactions do not represent liabilities to third parties but, in essence, constitute government revenues and expenditures.

The CPP is a Specified Purpose Account but is not consolidated as part of the Government of Canada financial statements. It is under joint control of the government and the participating provinces. As administrator, the government's authority to spend is limited to the balance of funds available in the Plan.

The Government Annuities Account is not a consolidated Specified Purpose Account. It was established by the Government Annuities Act, and modified by the Government Annuities Improvement Act, which discontinued sales of annuities in 1975. The account is valued on an actuarial basis each year, with the deficit or surplus charged or credited to the Consolidated Revenue Fund.

The Civil Service Insurance Fund is not a consolidated Specified Purpose Account. It was established by the Civil Service Insurance Act. Pursuant to subsection 16(3) of the Civil Service Insurance Regulations, the amount of actuarial deficits is transferred from the Consolidated Revenue Fund to the Civil Service Insurance Account in order to balance the assets and liabilities of the program.

The Canada Millennium Scholarship Foundation Excellence Awards Fund is not a consolidated Specified Purpose Account. It was established in order for HRSDC to administer the remaining Excellence Awards payments to eligible students upon the dissolution of the Canada Millennium Scholarship Foundation, which was ending after its ten-year mandate. HRSDC will administer the remaining Excellence Awards disbursements from January 1, 2010 until December 31, 2013. After this date, HRSDC will transfer any funds remaining in the account to the Consolidated Revenue Fund.

The following information updates forecasted data on the Employment Insurance Operating Account and the Canada Pension Plan that the Department provided in the 2010-2011 Report on Plans and Priorities. That report presented multi year financial data and general information. Additional information about performance and year-end data is available at the Internet addresses provided in this section.

Employment Insurance Operating Account

The table below summarizes the financial results for the EI Operating Account from 2009-2010 to 2010-2011.

Employment Insurance Account Statement of Operationsa
(millions of dollars) Actual
2009-2010 2010-2011
Expenditures
Benefits 21,586 19,850
Administrative Costs 2,031 1,916
Doubtful Accountsb 50 42
Sub-Total 23,667 21,808
EI Premiums and Penalties
Premiums 17,121 17,862
Penalties 42 46
Interest (Overdue Accounts Receivable) 13 11
Sub-Total 17,175 17,919
Government Funding (Budget 2009) 1,522 1,428
Annual (Deficit) Surplus (4,970) (2,462)
Cumulative (Deficit) Surplus (4,936)c (7,397)
Premium Rate
(% of Insurable Earnings)
2010 2011
Employee 1.73% 1.78%
Employer 2.42% 2.49%
a The EI Operating Account is a consolidated Specified Purpose Account and is included in the financial reporting of the Government of Canada. Consolidated Specified Purpose Accounts are used principally where the activities are similar in nature to departmental activities and the transactions do not represent liabilities to third parties but, in essence, constitute government revenues and expenditures.
b Represents write-offs and estimates of uncollectible account receivables for benefit overpayments and penalties imposed.
c The cumulative deficit as of March 31, 2010, includes the EI Operating Account surplus of $34M accumulated from January 1, 2009 to March 31, 2009.
Note: Totals may not add due to rounding.

The new EI Operating Account records all EI-related credits and charges since January 1, 2009, the date on which it was established in the accounts of Canada. The Canada Employment Insurance Financing Board (CEIFB) was created to improve the governance and management of Employment Insurance financing. Starting in 2011, the Board has been responsible for setting the EI premium rate based on a new rate-setting mechanism. This mechanism is designed to ensure that Employment Insurance revenues and expenditures break even over time.

Revenues from EI premiums increased in 2010-2011 due to higher insurable earnings resulting from an increase in employment. EI benefit payments decreased compared to 2009-2010 due to a decrease in the number of beneficiaries and in the number of weeks of benefits paid. It is important to note that $1.4 billion in additional funding from the Consolidated Revenue Fund was provided to offset the additional expenditures associated with the temporary EI measures which were introduced in Budget 2009. Expenditures, however, still exceeded total revenues by $2.5 billion.

More detailed information is reported in the 2010-2011 audited EI Operating Account financial statements that are included in the 2011 Public Accounts of Canada, Volume 1, Section 4.13 HRSDC also offers information on Employment Insurance on its website.14 It provides information on the authority, objectives and details of the program as well as links to Actuarial Reports and the Employment Insurance Commission's annual Monitoring and Assessment Reports.

Canada Pension Plan

The following table summarizes the financial results for the Canada Pension Plan (CPP) from 2008-2009 to 2010-2011.

More information relating to 2010-2011 is reported in the Canada Pension Plan financial statements which can be found in the 2011 Public Accounts of Canada, Volume 1, Section 6.

Canada Pension Plan - Summary
(millions of dollars) Actual Forecast Actual
2008-2009 2009-2010 2010-2011
Revenue
Contributions 36,506 36,276 36,862 37,069
Investment Income
Canada Pension Plan 6 1 1 2
CPP Investment Boarda (23,576) 16,218 - 15,558
Total Investment Income (23,570) 16,219 1 15,560
Total Revenue 12,936 52,495 36,863 52,629
Expenditures
Benefit Payments 29,005 30,363 31,625 31,598
Administrative Expensesb 694 734 806 850
Total Expenditures 29,699 31,097 32,431 32,448
Increase / Decrease (16,763) 21,398 4,432 20,181
Year-end Balance 110,022 131,420 135,852 151,601
a CPP Investment Board actual amounts are based on their audited financial statements. The CPP Investment Board invests mainly in equities and fixed income securities. The investment income is composed of realized gains and losses from investments, unrealized gains and losses on investments held at the end of the period (change in fair value) and foreign exchange gains and losses. For 2010 – 2011, there was a net investment gain.
b Administrative expenses include CPP administrative expenses as well as CPP Investment Board administrative expenses.
Note: All amounts from this table for 2008–2009 and 2009–2010 are the consolidated amounts found in the audited CPP annual financial statements.

Government Annuities Account

The table below summarizes the financial results for the Government Annuities Account from 2008-2009 to 2010-2011. Source of the figures is the Report of the Chief Actuary on the Government Annuities as at March 31, 2011.

Government Annuities Account - Statement of Operations and Actuarial Liabilities
(millions of dollars) Actual
2008-2009 2009-2010 2010-2011
Actuarial Liabilities –
Balance at Beginning of Year
292.9 267.2 243.5
Income 19.4 17.5 15.8
Payments and Other Charges 42.0 38.7 35.8
Excess of Payments and Other Charges Over Income for the Year 22.6 21.2 20.0
Actuarial Surplus 3.1 2.5 2.2
Actuarial Liabilities –
Balance at End of the Year
267.2 243.5 221.3

The annual report and financial statements for Government Annuities are available in the 2011 Public Accounts of Canada, Volume 1, Section 6.15

Civil Service Insurance Fund

The table below summarizes the financial results for the Civil Service Insurance Fund from 2008-2009 to 2010-2011.

Civil Service Insurance Fund - Statement of Operations and Balance
(millions of dollars) Actual
2008-2009 2009-2010 2010-2011
Opening Balance 5.9 5.6 5.5
Receipts and Other Credits 0.0 0.1 0.0
Payments and Other Charges 0.3 0.3 0.3
Excess of Payments and Other Charges Over Income for the Year 0.3 0.2 0.3
Balance at End of the Year 5.6 5.5 5.2
Note: Totals may not add due to rounding.

The financial data for the Civil Service Insurance Fund are available in the 2011 Public Accounts of Canada, Volume 1, Section 6.16

Canada Millennium Scholarship Foundation Excellence Awards Fund

In accordance with Budget Implementation Act 2008, the Canada Millennium Scholarship Foundation has ended after its ten-year mandate. This Specified Purpose Account was established by way of an agreement between the Canada Millennium Scholarship Foundation and Human Resources and Skills Development Canada (HRSDC) in order for HRSDC to administer the remaining Excellence Awards payments to eligible students upon the dissolution of the Canada Millennium Scholarship Foundation. The transfer of funds also includes the costs of administering this program on behalf of the Canada Millennium Scholarship Foundation.

HRSDC will administer the remaining Excellence Awards disbursements from January 1, 2010 until December 31, 2013. After this date, HRSDC will transfer any funds remaining in the account to the Consolidated Revenue Fund.

Canada Millennium Scholarship Foundation Excellence Awards Fund - Statement of Operations and Balance
(millions of dollars) Actual
2008-2009 2009-2010 2010-2011
Opening Balance - - 14.4
Income and other creditsa - 14.8 -
Payments and other charges - 0.4 7.1
Excess of payments and other charges over income for the year - 14.4 7.1
Closing Balance - 14.4 7.3
a Receipts and other credits include a one-time payment of $14.8 million in 2009–2010 from the Canada Millennium Scholarship Foundation to the Specified Purpose Account for the purpose of administering remaining Excellence Awards between January 1, 2010 and December 31, 2013.

4.2 Statutory Annual Reports

Old Age Security

The Old Age Security program is one of the cornerstones of Canada's retirement income system. Benefits include the basic Old Age Security pension, the Guaranteed Income Supplement and the Allowance. The Old Age Security program is financed from Government of Canada general tax revenues.

The following tables present information on monthly benefits, beneficiaries and payments by province or territory.

Summary of Maximum Monthly Benefits
(millions of dollars)
Fiscal Year 2010–2011
Basic Pension Income Supplement Allowance
  Single Married Regular Survivor Increase
Monthly benefit by fiscal year
2010-2011 Actuals
January 1, 2011 524.23 661.69 436.95 961.18 1,065.45 0.5%
October 1, 2010 521.62 658.40 434.78 956.40 1,060.15 0.6%
July 1, 2010 518.51 654.47 432.19 950.70 1,053.83 0.3%
April 1, 2010 516.96 652.51 430.90 947.86 1,050.68 0.0%
2010-2011 Estimates
January 1, 2011 522.67 659.71 435.66 958.33 1,062.27 0.5%
October 1, 2010 520.07 656.43 433.49 953.56 1,056.99 0.2%
July 1, 2010 519.03 655.12 432.62 951.65 1,054.88 0.3%
April 1, 2010 517.48 653.16 431.33 948.81 1,051.73 0.1%
2009-2010 Actuals
January 1, 2010 516.96 652.51 430.90 947.86 1,050.68 0.0%
October 1, 2009 516.96 652.51 430.90 947.86 1,050.68 0.0%
July 1, 2009 516.96 652.51 430.90 947.86 1,050.68 0.0%
April 1, 2009 516.96 652.51 430.90 947.86 1,050.68 0.0%
Maximum amount paid
(annual benefits)
2010-2011 Actuals 6,243.96 7,881.21 5,204.46 11,448.42 12,690.33 0.7%
2010-2011 Estimates 6,237.75 7,873.26 5,199.30 11,437.05 12,677.61 0.6%
2009-2010 Actuals 6,203.52 7,830.12 5,170.80 11,374.32 12,608.16 3.4%


Number of Persons Receiving Old Age Security Benefits by Province or Territory and by Type
Province
or Territory
March 2010 March 2011
Old Age Security (OAS) Pension Guaranteed Income Supplement (GIS) Allowance GIS as % of OAS Old Age Security (OAS) Pension Guaranteed Income Supplement (GIS) Allowance GIS as % of OAS
Newfoundland and Labrador 77,362 46,025 4,376 59.49 80,628 46,908 4,142 58.18
Prince Edward Island 21,189 9,369 585 44.22 21,846 9,548 591 43.71
Nova Scotia 145,682 60,206 4,037 41.33 149,468 60,178 3,925 40.26
New Brunswick 115,916 55,074 4,021 47.51 119,180 56,195 4,083 47.15
Quebec 1,181,774 533,717 30,246 45.16 1,220,406 542,329 29,931 44.44
Ontario 1,737,000 493,407 27,070 28.41 1,782,123 510,303 27,500 28.63
Manitoba 166,245 56,934 3,101 34.25 168,977 56,141 2,839 33.22
Saskatchewan 148,590 53,167 2,879 35.78 149,953 52,321 2,732 34.89
Alberta 375,679 116,782 5,633 31.09 386,155 117,700 5,564 30.48
British Columbia 622,655 200,248 11,501 32.16 641,078 207,171 12,086 32.32
Yukon 2,828 859 42 30.37 2,971 878 44 29.55
Northwest Territoriesa 3,209 1,628 120 50.73 3,323 1,618 120 48.69
Internationalb 93,755 8,371 57 8.93 95,988 8,128 52 8.47
Total 4,691,884 1,635,787 93,668 34.86 4,822,096 1,669,418 93,609 34.62
a Data for Nunavut are included.
b Persons receiving Canadian OAS benefits under International Social Security Agreements.


Old Age Security Payments by Province or Territory and by Type, Fiscal Year 2010 - 2011
(dollars)
Province or Territory
Old Age Security (OAS)
Pension
Guaranteed Income
Supplement (GIS)
Allowance Total
Newfoundland and Labrador 492,780,492 197,757,515 25,334,750 715,872,757
Prince Edward Island 133,928,462 39,952,488 2,794,057 176,675,007
Nova Scotia 919,232,618 240,912,026 20,997,306 1,181,141,950
New Brunswick 733,504,277 233,757,005 22,981,693 990,242,975
Quebec 7,410,989,197 2,376,164,494 156,871,701 9,944,025,392
Ontario 10,434,004,245 2,626,277,194 171,102,289 13,231,383,728
Manitoba 1,034,276,730 241,240,780 17,017,056 1,292,534,566
Saskatchewan 931,479,891 220,894,028 16,774,124 1,169,148,043
Alberta 2,300,996,452 564,202,349 33,224,535 2,898,423,336
British Columbia 3,705,685,475 1,065,807,976 71,836,846 4,843,330,297
Yukon 18,017,009 4,019,691 201,168 22,237,868
Northwest Territoriesa 20,338,303 8,698,951 951,001 29,988,255
Internationalb 139,871,576 81,450,263 424,354 221,746,193
Total 28,275,104,727 7,901,134,760 540,510,880 36,716,750,367
Recovery tax portion of OAS (1,061,615,237) - - (1,061,615,237)
Total including recovery tax 27,213,489,490 7,901,134,760 540,510,880 35,655,135,130
aData for Nunavut are included.
bPersons receiving Canadian OAS benefits under International Social Security Agreements.


Consolidated Canada Student Loans Programs - Combined Programs
  Actual 2010-2011
(millions of dollars) 2008-2009 2009-2010 Planned Actual
Revenues
Interest Revenue on Direct Loans 472.8 369.8 434.6 444.8
Recoveries on Guaranteed Loans 38.5 27.4 18.5 23.9
Recoveries on Put-Back Loans (RS) 13.1 11.0 7.7 11.5
Total Loan Revenue 524.4 408.2 460.8 480.2
Expenses
Transfer payment
Canada Study Grants, Canada Access Grants and Canada Student Grants Program 143.2 533.7 557.2 620.7
Loan Administration
Collection Costs (All regimes)a 10.7 5.2 0.0 2.5
Program Delivery Costs (DL) 76.0 61.7 63.4 66.0
Risk Premium to Financial Institutions (RS) 0.7 0.6 0.5 0.3
Put-Back to Financial Institutions (RS) 3.8 3.6 3.1 2.3
Administrative Fees to Provinces and Territories and SIF (DL ) 14.7 19.3 25.5 26.7
Total Loan Administration Expenses 105.9 90.4 92.5 97.8
Cost of Government Benefits to Students
In-Study Interest Borrowing Expense (Class A - DL)b 166.9 177.4 168.0 173.3
In Repayment Interest Borrowing Expense (Class B - DL)b 160.7 180.0 188.4 182.9
In-Study Interest Subsidy (RS & GL) 4.0 1.4 0.8 1.2
Repayment Assistance Programsc 93.2 74.9 96.3 88.9
Claims Paid & Loans Forgiven (All regimes) 23.2 22.5 21.9 12.5
Total Cost of Govt Benefits to Students 448.0 456.2 475.4 458.8
Bad Debt Expensed
Debt Reduction in Repayment Expense (DL) 53.2 133.4 20.0 40.7
Bad Debt Expense (DL) 293.6 129.1 342.4 323.6
Total Bad Debt Expense 346.8 262.5 362.4 364.3
Total Loan Expenses 1,043.9 1,342.8 1,487.53 1,541.6
Net Operating Results 519.5 934.6 1,026.7 1,061.4
Alternative Payments to Non-Participating Provinces (DL)e 111.0 223.1 244.0 300.1
Final Net Operating Results 630.5 1,157.7 1,270.7 1,361.5

(DL) = Direct Loans
(RS) = Risk-Shared Loans
(GL) = Guaranteed Loans

a. These costs are related to collection activities performed by the Canada Revenue Agency. Figures for 2008-2009 have been adjusted by CRA and the new collection costs have been reflected.
b. These costs are related to Canada Student Direct Loans but reported by the Department of Finance.
c. Interest Relief and Debt Reduction in Repayment has been replaced by the Repayment Assistance Programs.
d. This represents the annual expense against the Provisions for Bad Debt and Debt Reduction in Repayment as required under Accrual Accounting.
e. The figures represent the annual expense recorded under the Accrual Accounting as opposed to the actual amount disbursed to the Non-Participating Provinces. For 2010 – 2011, the total amount disbursed as Alternative Payments is $278.8 M.

For further information about the Consolidated Report on Student Loans, refer to http://www.hrsdc-rhdcc.gc.ca/eng/publications_resources/dpr/dpr/index.shtml

4.3 Organizational Contact Information

nc-spr-psr-cpa-pim-gd@hrsdc-rhdcc.gc.ca


  1. Results represent totals for HRSDC only. Results from other participating departments and agencies can be found in the Youth Employment Strategy supplementary table at http://www.tbs-sct.gc.ca/dpr-rmr/2010-2011/inst/csd/st-ts00-eng.asp
  2. See Education at a Glance 2010: OECD Indicators, www.oecd.org. There is a two-year lag in the data analyzed by the OECD.
  3. www.pathwaystoeducation.ca/results.html
  4. This percentage is based on the number of full-time students (aged 18 – 34) for 2010 – 2011 (1,258,000) as forecasted in the Actuarial Report on the Canada Student Loans Program as at 31 July 2010, and does not include the province of Quebec, the Northwest Territories or Nunavut as these jurisdictions do not participate in the CSLP.
  5. This percentage is based on the number of full- and part-time students participating in PSE as per the Labour Force Survey (2,068,325).
  6. Students withdrawing funds from their RESP may also receive a loan, grant or in-study interest subsidy.
  7. The amount for and number of grants includes the Canada Millenium Scholarship Foundation transitional grants and the new Canada Student Grants for: Persons from Low and Middle-Income Families; Full and Part-Time Students with Dependants; Part-Time Studies; Students with Permanent Disabilities; and Services and Equipment for Students with Permanent Disabilities.
  8. The students who received loans and the students who received grants are not mutually exclusive as the same person often receives both.
  9. www.hrsdc.gc.ca/eng/publications_resources/evaluation/2008/
    industry_practices/page00.shtml
  10. The data now includes the effect of all government income support programs affecting seniors (e.g. provincial programs, refundable GST credit and the Canada and Quebec Pension Plans).
  11. The data now includes the effect of all government income support programs affecting seniors (e.g. provincial programs, refundable GST credit and the Canada and Quebec Pension Plans).
  12. The data now includes the effect of all government income support programs affecting seniors (e.g. provincial programs, refundable GST credit and the Canada and Quebec Pension Plans).
  13. For further information, see http://www.tpsgc-pwgsc.gc.ca/recgen/txt/72-eng.html
  14. For further information, see http://www.hrsdc.gc.ca/en/ei/legislation/ei_act_tofprov_1.shtml
  15. For further information, see http://www.tpsgc-pwgsc.gc.ca/recgen/txt/index-eng.html
  16. For further information, see http://www.tpsgc-pwgsc.gc.ca/recgen/txt/index-eng.html