Payments to the Nova Scotia Offshore Revenue Account (Statutory)
| Name of transfer payment program | Payments to the Nova Scotia Offshore Revenue Account (Statutory) |
|---|---|
| Start date | 1993-94 |
| End date | Ongoing |
| Type of transfer payment | Contribution |
| Type of appropriation | Statutory |
| Fiscal year for terms and conditions | Not applicable |
| Strategic Outcome | 1 – Canada's Natural Resource Sectors are Globally Competitive |
| Link to the department’s [Program Alignment Architecture or Program Inventory] | 1.4 – Statutory Programs — Atlantic Offshore |
| Description | The Minister of Natural Resources is responsible under section 219 of the Canada-Nova Scotia Offshore Petroleum Resources Accord Implementation Act to make payments to the province of Nova Scotia equivalent to the revenue amounts received by Canada in relation to offshore oil and gas activities in the Canada-Nova Scotia offshore. The federal Nova Scotia Offshore Revenue Account Regulations prescribe the time and manner for making the transfer payments. The funds are drawn from the Consolidated Revenue Fund. This transfer payment program does not have any repayable contributions. |
| Results achieved | Payments to the province of Nova Scotia pursuant to provisions of the Canada-Nova Scotia Offshore Petroleum Resources Accord Implementation Act. |
| Comments on variances | An unanticipated one-time amount of $263 million was received from an offshore operator following a recalculation of the royalties paid since 1999. An equivalent amount was then paid to the province of Nova Scotia in accordance with the Act. The remaining difference between planned spending and actual spending is mainly due to variances in the anticipated production levels and prices of natural gas, which affected royalties collected by the Federal government that were transferred through the Nova Scotia Offshore Petroleum Resources Revenue Fund. |
| Audits completed or planned | Completed: 2014-15 NRCan completed and internal audit of offshore revenues and transfers in fiscal year 2014-15. The audit concluded that the Department has an effective management control framework to support the exercise of its administrative requirements and obligations in relation to the Account, and transfers are made to the province of Nova Scotia on an accurate and timely basis. |
| Evaluations completed or planned | Not applicable. |
| Engagement of applicants and recipients | Not applicable. |
| Type of transfer payment | 2015‑16 Actual spending | 2016‑17 Actual spending | 2017‑18 Planned spending | 2017‑18 Total authorities available for use | 2017‑18 Actual spending (authorities used) | Variance (2017‑18 actual minus 2017‑18 planned) |
|---|---|---|---|---|---|---|
| Total grants | 0 | 0 | 0 | 0 | 0 | 0 |
| Total contributions | 28,114,347 | 12,960,118 | 6,623,774 | 275,316,673 | 275,316,673 | 268,692,899 |
| Total other types of transfer payments | 0 | 0 | 0 | 0 | 0 | 0 |
| Total program | 28,114,347 | 12,960,118 | 6,623,774 | 275,316,673 | 275,316,673 | 268,692,899 |
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