Provincial and territorial governments
Public Accounts of Canada 2019 Volume I—Top of the page Navigation
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This category records loans to provinces and territories made under relief acts and other legislation.
Loans made on a long-term, low-interest or interest-free basis are recorded in part as expenses when the economic value of these loans is reduced due to their concessionary terms.
| April 1, 2018 | Payments and other charges | Receipts and other credits | March 31, 2019 | |
|---|---|---|---|---|
| Finance | ||||
| Department of Finance | ||||
| Newfoundland and Labrador | ||||
| Federal-provincial fiscal arrangements | 266,668,300 | – | – | 266,668,300 |
| Municipal Development and Loan Board | 315,626 | – | – | 315,626 |
| Winter capital projects Fund | 2,836,758 | – | – | 2,836,758 |
| Subtotal | 269,820,684 | – | – | 269,820,684 |
| Ontario | ||||
| Federal-provincial fiscal arrangements | 60,145,976 | – | 15,036,504 | 45,109,472 |
| Prince Edward Island | ||||
| Federal-provincial fiscal arrangements | 435,528 | – | 108,912 | 326,616 |
| Winter capital projects Fund | 63,079 | – | – | 63,079 |
| Subtotal | 498,607 | – | 108,912 | 389,695 |
| Quebec | ||||
| Federal-provincial fiscal arrangements | – | 37,672,500 | – | 37,672,500 |
| Saskatchewan | ||||
| Federal-provincial fiscal arrangements | 106,311,824 | – | 13,288,992 | 93,022,832 |
| Subtotal | 436,777,091 | 37,672,500 | 28,434,408 | 446,015,183 |
| Less: portion expensed due to concessionary terms | 45,680,300 | – | 6,316,190 | 39,364,110 |
| Total | 391,096,791 | 37,672,500 | 22,118,218 | 406,651,073 |
Federal-provincial fiscal arrangements
These amounts represent net overpayments in respect of transfer payments to provinces under the Constitution Acts 1867 to 1982, the Federal-Provincial Fiscal Arrangements Act, and other statutory authorities.
The overpayments are non-interest bearing and will be repaid by reducing transfer payments in subsequent years.
Municipal Development and Loan Board
Loans have been made to provinces and municipalities, to augment or accelerate municipal capital works programs.
The loans bear interest at rates from 5.25% to 5.375% per annum, and are repayable in annual or semi-annual instalments over 15 to 50 years.
Winter capital projects Fund
Loans have been made to provinces, provincial agencies and municipalities, to assist in the creation of employment.
The loans bear interest at rates from 7.4% to 9.5% per annum, and are repayable either in annual instalments over 5 to 20 years, or at maturity.