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ARCHIVED - Western Economic Diversification Canada - Supplementary Tables
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Up-Front Multi-Year Funding
Name of Recipient: Primrose Lake Economic Development Corporation (PLEDC)
Start Date: March 30, 2007
End Date: March 31, 2027
Total Funding: $15 million
Description: Create a community controlled trust fund for economic development.
Strategic Outcome(s): The western Canadian economy is developed and diversified.
Summary of Results Achieved by the Recipient: During fiscal 2010-11, the Board focused on three areas:
- Communications – Launched a website in January 2011; prepared a brochure outlining mandate, background, programs; began publishing regular newsletters.
- Administration – The part-time interim CEO has implemented the board decision to combine the part-time CEO contract and the term Fieldworker position into a full-time General Manager. The position was advertised in March, and staffed in April, 2011. Operating costs are usually $150,000 ; and
- Established strategic goals for 2011-12.
Since 2009, $470,279 has been invested in 48 projects in the four communities, and the Board continues to review new applications.
| 2008-09 Actual Spending |
2009-10 Actual Spending |
2010-11 Planned Spending |
2010-11 Total Authorities |
2010-11 Actual Spending |
Variance(s) |
|---|---|---|---|---|---|
| $0 | $0 | $0 | $0 | $0 | $0 |
Comments on Variance(s): n/a
Significant Evaluation findings by the recipient during the reporting year and future plan: No evaluation by WD yet, but the Office of Federal Interlocutor contracted a “Strategic Assessment” on PLEDC; report submitted January 2011. Recommendations include a focus on overall investment strategy, investment of trust income (instead of spending). WD has also encouraged Board and Staff training and a full time CEO. The 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: www.pledco.ca
