The present document contains the entire text of the policy as revised April 1, 1995. This policy supersedes T.B. Circular 1989-13 entitled "Specified Purpose Accounts".
To ensure that money received for a specified purpose is properly identified, classified, controlled and accounted for, reported on and, where applicable, that fiduciary duties and responsibilities are fully and adequately discharged.
It is government policy that where money has been received for a specified purpose, it be applied for that purpose or returned in accordance with the Repayment of Receipts Regulations.
This policy applies to all organizations considered to be departments within the meaning of Section 2 of the Financial Administration Act, and to Crown corporations that are required to make deposits in the CRF in accordance with section 129 of the Financial Administration Act or any other legislation.
This policy is issued under the authority of the Financial Administration Act.
Financial Administration Act (R.S.C., 1985, Chapter F-11) sections 2, 20, 21, 33, 34 and 63
Payment Requisitioning Regulations, SOR/85-999, as amended by SOR/86-68 and SOR/93-258
Repayment of Receipts Regulations, C.R.C. c. 729, as amended by SORs/81-920 and 93-258
Receiver General Directive on Specified Purpose Accounts
Enquiries about this policy should be directed to the responsible officers in departmental headquarters who, in turn, may seek interpretation from:
On general policy issues
Financial and Contract Management Sector
Financial and Information Management Branch
Treasury Board Secretariat
Ottawa, Ontario
K1A 0R5
Telephone: (613) 957-7233
Facsimile: (613) 952-9613
On Receiver General requirements including the establishment of accounts
Chief
Accounts of Canada Analysis Section
Central and Public Accounts Directorate
Government Operational Service Branch
Public Works and Government Services Canada
Ottawa, Ontario
K1A 0S5
Telephone: (819) 956-1880
Facsimile: (819) 956-5407
On the approval of the payment of interest on a specified purpose account
Director
Financial Markets Division
Financial Sector Policy Branch
Department of Finance
140 O'Connor Street
Ottawa, Ontario
K1A 0G5
Telephone: (613) 992-9032
Facsimile: (613) 943-2039
On interest rates and recovery of interest
Chief
Public Debt Accounting
Informatics and Financial Services
Corporate Services Branch
Department of Finance
140 O'Connor Street
Ottawa, Ontario
K1A 0G5
Telephone: (613) 995-5231
Facsimile: (613) 995-1325
Until 1985-86 all specified purpose account transactions were classified as non-budgetary and the balances of the accounts were reported as liabilities. In 1986, a change in accounting policy was introduced for those specified purpose accounts that are similar to departmental activities and that are not defined as financial obligations of the government. Such accounts are budgetary and are consolidated with government revenues, expenditures and accumulated deficit. The category of consolidated budgetary accounts includes all specified purpose accounts which are used to account for and control the funds received and disbursed in relation to the administration of the following.
These are fees or other levies imposed by statute and earmarked for a special purpose by the statute. Examples of such specified purpose accounts are the Unemployment Insurance Account and the Environmental Studies Research Funds account.
These are programs which are not for employees or former employees of the government. This category includes accounts such as the Fishing Vessel Insurance Plan and the Land Assurance Fund.
This is a broad category which includes:
The accounting policies of the government of Canada define liabilities as the financial obligations of the government-that is, principally money that belongs to and is to be repaid to (or for the benefit of) identifiable outside organizations and individuals. This includes all specified purpose accounts which are used to account for and control the funds received and disbursed in relation to the administration of the following.
Pension accounts are used to record transactions relating to the operation of the Canada Pension Plan, various superannuation accounts and the Government Annuities Agents' Pension account.
These accounts are used to record transactions relating to the operation of insurance programs for employees or former employees of the government. Examples are the Veterans Insurance Fund and the Public Service Death Benefit Account.