Consolidated specified purpose accounts
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Consolidated specified purpose accounts are particular categories of revenues and expenses whereby legislation requires that revenues received for purposes specified in the legislation be credited to these accounts and that related payments be charged to the accounts. They are principally used where the activities are similar in nature to departmental activities and the transactions do not represent future liabilities to third parties but in essence constitute government revenues and expenses.
Enabling legislation requires that the transactions in each of these accounts be accounted for separately. Table 4.6 presents a summary of the balances and transactions of these accounts, in the manner required by legislation.
The financial statements of the Employment Insurance Operating Account, together with the Independent auditor's Report, are presented at the end of this section.
| April 1, 2024 | Revenues and other credits | Expenses and other debits | March 31, 2025 | |||
|---|---|---|---|---|---|---|
| External transactions | Internal transactions | External transactions | Internal transactions | |||
| Insurance accounts | ||||||
| Agriculture and Agri-Food | ||||||
| Department of Agriculture and Agri-Food | ||||||
| Crop Reinsurance Fund | 457,821,485 | 109,256,335 | – | (negative 85,280,922) | – | 652,358,742 |
| Less: Interest-bearing loans | 277,514,751 | – | – | – | – | 277,514,751 |
| Subtotal | 180,306,734 | 109,256,335 | – | (negative 85,280,922) | – | 374,843,991 |
| Agricultural Commodities Stabilization Accounts | 646,510 | – | – | – | – | 646,510 |
| Total | 180,953,244 | 109,256,335 | – | (negative 85,280,922) | – | 375,490,501 |
| Employment and Workforce Development | ||||||
| Department of Employment and Social Development | ||||||
| Employment Insurance Operating Account, Table 4.7 | (negative 18,436,976,410) | 31,667,474,569 | 552,992,470 | 25,373,078,480 | 2,660,867,262 | (negative 14,250,455,113) |
| Energy and Natural Resources | ||||||
| Department of Natural Resources | ||||||
| Nuclear Liability Account | 5,207,849 | 169,686 | – | – | – | 5,377,535 |
| Finance | ||||||
| Department of Finance | ||||||
| Investors' Indemnity Account | 45,303 | – | – | – | – | 45,303 |
| Health | ||||||
| Department of Health | ||||||
| Health Insurance Supplementary Account | 28,386 | – | – | – | – | 28,386 |
| Transport | ||||||
| Department of Transport | ||||||
| Fund for railway accidents involving designated goods | 106,361,992 | 3,411,284 | 3,235,746 | 1,588,455 | 750 | 111,419,817 |
| Ship-Source Oil Pollution Fund | 429,640,333 | 715,347 | 12,850,986 | 5,858,192 | 1,728,654 | 435,619,820 |
| Total | 536,002,325 | 4,126,631 | 16,086,732 | 7,446,647 | 1,729,404 | 547,039,637 |
| Total insurance accounts | (negative 17,714,739,303) | 31,781,027,221 | 569,079,202 | 25,295,244,205 | 2,662,596,666 | (negative 13,322,473,751) |
| Other consolidated specified purpose accounts | ||||||
| Canadian Heritage | ||||||
| The National Battlefields Commission | ||||||
| Trust Fund | 1,528,121 | 147,290 | 71,833 | 22,006 | – | 1,725,238 |
| Crown-Indigenous Relations and Northern Affairs | ||||||
| Department of Crown-Indigenous Relations and Northern Affairs | ||||||
| Environmental Studies Research Fund | 51,187 | – | 46,059 | – | 51,187 | 46,059 |
| Energy and Natural Resources | ||||||
| Department of Natural Resources | ||||||
| Environmental Studies Research Fund | 4,615,174 | 2,152,896 | – | 397,919 | 2,945,398 | 3,424,753 |
| Environment and Climate Change | ||||||
| Canada Water Agency | ||||||
| Deposits - Other than Environmental Damages Fund | – | 396,122 | – | – | – | 396,122 |
| Department of the Environment | ||||||
| Deposits - Other than Environmental Damages Fund | 105,606,048 | – | – | – | 3,624,648 | 101,981,400 |
| Environmental Damages Fund | 237,341,376 | 4,658,488 | 17,320,881 | 40,718,142 | 677,964 | 217,924,639 |
| Environmental Economic Instruments Fund | – | 364 | – | – | – | 364 |
| Subtotal | 342,947,424 | 4,658,852 | 17,320,881 | 40,718,142 | 4,302,612 | 319,906,403 |
| Total | 342,947,424 | 5,054,974 | 17,320,881 | 40,718,142 | 4,302,612 | 320,302,525 |
| Finance | ||||||
| Department of Finance | ||||||
| Canadian Commercial Bank and Northland Bank Holdback Account | 246,223,464 | – | – | – | – | 246,223,464 |
| Fisheries, Oceans and the Canadian Coast Guard | ||||||
| Department of Fisheries and Oceans | ||||||
| Supplementary Fines Account Species at Risk Act | 35,000 | – | – | – | – | 35,000 |
| Supplementary Fish Fines Account | 2,420,982 | 29,300 | – | 21,426 | – | 2,428,856 |
| Total | 2,455,982 | 29,300 | – | 21,426 | – | 2,463,856 |
| Parks Canada | ||||||
| Parks Canada Agency | ||||||
| New Parks and Historic Sites Account | 211,252,773 | 30 | 35,650,130 | 27,715,229 | 3,103,746 | 216,083,958 |
| Public Services and Procurement | ||||||
| Department of Public Works and Government Services | ||||||
| Seized Property Proceeds Account | 56,193,041 | 27,693,170 | – | 25,635,664 | – | 58,250,547 |
| Transport | ||||||
| Department of Transport | ||||||
| Fines for the Transportation of Dangerous Goods | 3,247,772 | – | – | 201,629 | 433,300 | 2,612,843 |
| Total other consolidated specified purpose accounts | 868,514,938 | 35,077,660 | 53,088,903 | 94,712,015 | 10,836,243 | 851,133,243 |
| Endowment principal | ||||||
| Health | ||||||
| Canadian Institutes of Health Research | ||||||
| Endowments for Health Research | 75,000 | – | – | – | – | 75,000 |
| Innovation, Science and Industry | ||||||
| National Research Council of Canada | ||||||
| H.L. Holmes Fund | 5,707,016 | 50,890 | – | – | – | 5,757,906 |
| W.G. Schneider Fund | 30,000 | – | – | – | – | 30,000 |
| Subtotal | 5,737,016 | 50,890 | – | – | – | 5,787,906 |
| Social Sciences and Humanities Research Council | ||||||
| Queen's Fellowship Fund | 250,000 | – | – | – | – | 250,000 |
| Total | 5,987,016 | 50,890 | – | – | – | 6,037,906 |
| Parks Canada | ||||||
| Parks Canada Agency | ||||||
| Mackenzie King Trust Account | 225,000 | – | – | – | – | 225,000 |
| Total endowment principal | 6,287,016 | 50,890 | – | – | – | 6,337,906 |
| Total | (negative 16,839,937,349) | 31,816,155,771 | 622,168,105 | 25,389,956,220 | 2,673,432,909 | (negative 12,465,002,602) |
Table 4.6 notes
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Insurance accounts
Crop Reinsurance Fund
This Fund, continued in the accounts of Canada pursuant to subsection 13(1) of the Farm Income Protection Act, provides insurance to participating provinces for deficits they might incur in their agriculture insurance funds. The Crop Reinsurance Fund currently operates under the authority of the Farm Income Protection Act.
The revenues of the Fund come from a percentage of total premiums collected by provinces for the purpose of insurance of agricultural production which are funded by contributions from the federal government, provincial governments, and producers. Both the amount of revenue collected and expenditures from the Crop Reinsurance Fund paid to provinces are subject to the terms of reinsurance agreements. When there are insufficient revenues in the Crop Reinsurance Fund to make payments, the Minister of Finance may authorize an advance of additional funds to cover these obligations. These advances are recovered from future revenues. Currently, the interest rate earned on surpluses in the Crop Reinsurance Fund and the interest rate charged to advances to the Fund have been set by the Department of Finance at zero percent.
Agricultural Commodities Stabilization Accounts
The purpose of these accounts was to reduce income loss to producers from market risks through stabilizing prices. Premiums were shared equally by the Government of Canada, the governments of participating provinces and participating producers.
These accounts are continued in the accounts of Canada pursuant to subsection 16(2) of the Farm Income Protection Act. Current activities are limited to collection of accounts receivable. The Agricultural Stabilization Act, under which the commodity accounts formerly operated, has been repealed and replaced by the Farm Income Protection Act effective April 1, 1991.
Employment Insurance Operating Account
The Canada Employment Insurance Commission (the Commission), a departmental corporation named in Schedule II to the Financial Administration Act, administers the Employment Insurance Act (the Act). The Commission is co-managed by Commissioners representative of the government, workers and employers. The objective of the Act is to provide employment insurance benefits, employment programs and services to eligible workers. The financial transactions relating to this objective are reported through the Employment Insurance Operating Account (the Account).
The Account was established in the accounts of Canada by the Act. All amounts received under the Act are deposited in the Consolidated Revenue Fund and credited to the Account. The benefits and the costs of administration of the Act are paid out of the Consolidated Revenue Fund and charged to the Account.
Employee premium rate for each $100 of insurable earnings was $1.66 from January 1, 2024, to December 31, 2024, for employees without a Provincial Parental Insurance Plan and $1.32 for the others. From January 1, 2025, to March 31, 2025, the rate was $1.64 for employees without a Provincial Parental Insurance Plan and $1.31 for the others. Employer premium rate is calculated at the rate of 1.4 times the amount of the employee's premiums. The annual maximum insurable earnings for the 2025 calendar year is $65,700 ($63,200 in 2024).
| 2025 | 2024 | |
|---|---|---|
| Revenues | ||
| Premiums | ||
| Employers and employeesLinks to footnote 1 in Table 4.7 | 32,104 | 30,156 |
| Funding from the Government of Canada—Employment Insurance Emergency Response Benefit | (negative 21) | (negative 226) |
| Penalties and interest revenue | 137 | 117 |
| Subtotal | 32,220 | 30,047 |
| Expenses | ||
| Benefits | 23,133 | 21,141 |
| Transfers to the provinces—Part II | 1,947 | 2,374 |
| Employment Insurance Emergency Response Benefit | (negative 200) | (negative 385) |
| Administration costs | 2,655 | 2,702 |
| Administration cost transferred to provinces | 191 | 188 |
| Bad debts | 307 | 287 |
| Subtotal | 28,033 | 26,307 |
| Net change | 4,187 | 3,740 |
| Balance at beginning of year | (negative 18,437) | (negative 22,177) |
| Balance at end of year | (negative 14,250) | (negative 18,437) |
Table 4.7 notes
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Nuclear Liability Account
This account is established pursuant to sub-section 32(1) of the Nuclear Liability and Compensation Act, to record indemnity fees paid by operators and to provide for payment of any claims arising under the indemnity agreements entered into between the government and nuclear installation operators. This account is a continuation of the Nuclear Liability Reinsurance Account under the previous Nuclear Liability Act, now repealed.
Investors' Indemnity Account
Section 57 of the Financial Administration Act provides for this account, and for the crediting thereto of the sum of $25,000, such further amounts as are appropriated by Parliament for the purposes of this section, and any recoveries of the losses referred to in section 58 of the Act. This sum was increased to $50,000 by Treasury Board Submission No. 817667 dated December 12, 1991.
Section 58 of the Act states that the Minister may, in accordance with and subject to regulations, pay out of the account, any losses sustained by subscribers for securities who have paid all or part of the purchase price for those securities but have not received the security or repayment of the amount so paid, and losses sustained by any person in the redemption of securities.
Health Insurance Supplementary Account
This account was established pursuant to Vote L16b, Appropriation Act No. 2, 1973, to record payments in respect of persons who, through no fault of their own, have lost or been unable to obtain coverage for the insured health services under the Canada Health Act, and in accordance with the Federal/Provincial Agreement on Eligibility and Portability. Contributions are made by all provinces to the account in proportion to population and are matched by the federal government.
Fund for railway accidents involving designated goods
This account was established pursuant to the Safe and Accountable Rail Act to establish a compensation fund to cover the losses, damages, costs and expenses resulting from a railway accident involving crude oil or other designated goods that exceed the minimum liability insurance coverage. This account is financed by a levy on shipments of crude oil by rail.
Ship-Source Oil Pollution Fund
This account was established pursuant to subsection 2001, c.6 of the Marine Liability Act (previously the Canada Shipping Act), to record levy tonnage payments for oil carried by ships in Canadian waters. Maritime pollution claims, the fee of the Fund Administrator, and related oil pollution control expenses, are to be financed out of the Fund.
Other consolidated specified purpose accounts
Trust Fund—The National Battlefields Commission
This account was established at the creation of The National Battlefields Commission for the purpose of acquiring various properties for the development of the park. The funds are received by way of private contributions from municipal corporations, provincial governments and others, and deposited for the purposes of the Commission, as prescribed for in its incorporation Act.
Environmental Studies Research Fund—Department of Crown-Indigenous Relations and Northern Affairs
This account was established pursuant to subsection 76(1) of the Canada Petroleum Resources Act. The purpose of the Fund is to finance environmental and social studies pertaining to the manner in which, and the terms and conditions under which, exploration, development and production activities on frontier lands, authorized under this Act or any other act of Parliament, should be conducted.
The Fund is jointly managed by Natural Resources Canada and the minister of Northern Affairs, who has administrative authority over frontier lands situated in areas north of 60°N.
Environmental Studies Research Fund—Department of Natural Resources
This account was established pursuant to subsection 76(1) of the Canada Petroleum Resources Act. The purpose of the Fund is to finance environmental and social studies pertaining to the manner in which, and the terms and conditions under which, petroleum exploration, development and production activities on frontier lands, authorized under this Act or any other act of Parliament, should be conducted.
Deposits—Other than Environmental Damages Fund
This account was established for the management of court orders/awards or other financial compensation to the Department of the Environment that are not under the legal authority of the Environmental Damages Fund.
Environmental Damages Fund
This account was established for the management of court orders/awards or other financial compensation to the Department of the Environment for damages to the environment.
Environmental Economic Instruments Fund
This account was established for the management of contributions to the Emissions Reduction Advancement Program, an alternate compliance option under the Clean Fuel Regulations.
Canadian Commercial Bank and Northland Bank Holdback Account
This account was established to record the amount held from the recovery of monies received from the winding up of Canadian Commercial Bank and Northland Bank.
Supplementary Fines Account—Species at Risk Act
The account was established to record the deposit of funds received from persons declared guilty of offences under the Species at Risk Act, under paragraph 105(h) of the Act.
Supplementary Fish Fines Account
The account was established to record the deposit of funds received from persons declared guilty of offences under paragraph 79.2 (f) of the Fisheries Act.
New Parks and Historic Sites Account
This specified purpose account was established pursuant to the Parks Canada Agency Act in order to provide the Agency with the ability to set aside funds for new or expanded national historic sites, national parks, national marine conservation areas and other protected areas. Funds are deposited into this account in order to protect the funding required to honour the Agency’s commitment, today and in the future, for the establishment, enlargement, or designation of national historic sites, national parks, national marine conservation areas or other protected heritage areas as well as to develop and maintain them.
Seized Property Proceeds Account
This account was established, pursuant to section 13 of the Seized Property Management Act, to record the net proceeds received from the disposition of seized and forfeited properties to His Majesty or fines imposed and also funds received from the government of foreign states pursuant to agreements for the purpose of the Act. The Act also provides that the following be charged to the Account: operating expenses incurred in carrying out the purpose of the Act, amounts paid as a result of claims and repayments of advances from the Minister of Finance, interest on drawdown from Seized Property Working Capital Account and distribution of the proceeds to the relevant jurisdictions and the Consolidated Revenue Fund.
Fines for the Transportation of Dangerous Goods
This account was established, pursuant to the Transportation of Dangerous Goods Act, 1992 and related regulations, to record fines levied by courts.
Endowment principal
Endowments for Health Research
This account was established pursuant to section 29 of the Canadian Institutes of Health Research Act to record various endowments received from donors for the purpose of health research. The interest received is used for the payment of research grants.
H.L. Holmes Fund
This account was established, pursuant to paragraph 5(1)(f) of the National Research Council Act, to record the residue of the estate of H.L. Holmes. Up to two thirds of the yearly net income from the fund shall be used to finance the H.L. Holmes Award on an annual basis. These awards will provide the opportunity to post-doctoral students to study at world famous graduate schools or research institutes under outstanding research persons.
W.G. Schneider Fund
This account was established pursuant to paragraph 5(1)(f) of the National Research Council Act, to record a testamentary bequest received from the estate of W.G. Schneider. The yearly net income from the fund shall be used to finance the Schneider Medal. This award recognizes employees who have made outstanding contributions to the National Research Council of Canada.
Queen's Fellowship Fund
This fund is an endowment of $250,000 that was established by Vote 45a, Appropriation Act No. 5, 1973-74. The interest earned is used for the payment of fellowships to graduate students in certain fields of Canadian studies.
Mackenzie King Trust Account
The late The Right Hon W L Mackenzie King bequeathed Laurier House, Ottawa, and the sum of $225,000, to the Government of Canada. This amount was credited to the account and earns interest, in accordance with the terms of section 3 of the Laurier House Act. The interest is to be used to assist in the maintenance of the Laurier House, which is to be preserved as a place of historic interest, and also to provide accommodation for study and research.
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