Tab E: Corporate - Financial Information

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• 2023-24 Main Estimates - INFC
• CMHC 2023-2027 Corporate Plan
• CMHC 2023-24 Supplementary Estimates (A)
• JCCBI 2023-24 Supplementary Estimates (A)

2023-24 Main Estimates - INFC

Issue / question

What is Infrastructure Canada (INFC) seeking in the 2023-24 Main Estimates?

Suggested response

• Infrastructure Canada (INFC) is seeking $9.6 billion in the 2023-24 Main Estimates to support the department's commitment to invest in infrastructure that helps build strong communities, fight climate change and grow the economy. Working closely with provincial, territorial, municipal and Indigenous partners, INFC will continue to deliver results that improve the quality of life of all Canadians.
• The majority of the funding will support projects delivered through 22 programs such as the Investing in Canada Infrastructure Program (ICIP), the Permanent Public Transit Program, and the Canada Community-Building Fund (CCBF).
• An increase of $294.5 million from the previous year's Main Estimates is primarily attributable to new programs ramping up and the ICIP reaching unprecedented levels, offset by legacy programs winding down. In addition, an increase in Capital Expenditures tied to the Samuel De Champlain Bridge Corridor project can be observed as well as an increase in statutory funding for the CCBF.

Background

• The Main Estimates process is the means to access funding for the upcoming fiscal year for initiatives approved up to January 2023, to support the Government of Canada's priorities. It identifies the spending authorities (votes) and the amounts to be included in subsequent appropriation bills that Parliament will be asked to approve to enable the government to proceed with its spending plans.
• Infrastructure Canada (INFC) is seeking an increase of $294.5 million in the 2023‑24 Main Estimates compared to the previous year. The increase is explained as follows:
  • A net increase of $111.0 million in Grants and Contributions funds primarily related to:
    • Investing in Canada Infrastructure Program (increase of $1,093.9 million);
    • Permanent Public Transit Program (increase of $395.8 million in contributions);
    • New Building Canada Fund – Provincial-Territorial Infrastructure Component – National and Regional projects and Small Communities Fund (decrease of $613.9 million);
    • Public Transit Infrastructure Fund (decrease of $376.2 million);
    • Clean Water and Wastewater Fund (decrease of $137.8 million); and,
    • Other fluctuations in existing programs (decrease of $250.8 million).
  • Increase of $98.6 million in Statutory funds primarily related to the indexing of the Canada Community-Building Fund.
  • Increase of $80.1 million in Capital Expenditures  [Redacted].
  • Increase of $4.8 million in Operating Expenditures mainly tied to new programs announced through Budget 2022 to deliver ventilation projects, the Canada Healthy Communities Initiative and provide support and oversight in the procurement process for the High Frequency Rail project.
• Royal Assent was granted on June 23, 2023 for the Main Estimates.

CMHC 2023-2027 Corporate Plan

Issue / question

An overview of the business and expected operating environment for the next 5 years.

Suggested response

• Canada Mortgage and Housing Corporation's 2022-2027 Corporate Plan presents its priorities, initiatives, key performance measures and financial plan for the next five years.
• The Plan outlines CMHC's direction to ensure that people in core housing need have equitable and reliable access to housing that is secure and affordable, that Canada has the number of homes and mix of housing options to serve diverse needs and that it supports the sustainability and stability of our housing system.
• Progress against these outcomes is reported through CMHC's financial reports and annual reports, which are all made public on its website.

Background

• The 2023 – 2027 Corporate Plan provides an overview of Canada Mortgage and Housing Corporation's (CMHC) strategy and outlines the path ahead.
• The Corporate Plan provides an overview of CMHC's mandate and business structure, analyses the expected operating environment, and sets out the Corporation's objectives and planned activities.
• The Corporate Plan also outlines how CMHC is delivering federal initiatives under the National Housing Strategy, which includes building new affordable housing and renewing the existing affordable housing stock.
• In addition to setting its desired outcomes in the housing space, it describes the steps CMHC is taking to address the issues that matter most to people in Canada, such as diversity, inclusion, anti-racism and equity, reconciliation, and climate change.
• CMHC is making it a priority to use its unique position and influence to make this happen. In doing so, they progress towards aspirations and the goal of housing affordability for all people living in Canada.

CMHC 2023-24 Supplementary Estimates (A)

Issue / question

What is CMHC seeking in the 2022-23 Supplementary Estimates (A)?

Suggested response

• The items in CMHC's Supplementary Estimates (A) includes $996.7 million in funding for the Housing Accelerator Fund.
• It also includes a pending re-profile of $7.0 million for the Granville Island Emergency Relief Fund which will be completed in 2023.
• Finally, it includes a pending re-profile of $25.7 million for the Funding to support homeowners affected by pyrrhotite in Québec.

Background

• Supplementary Estimates reflect recently approved re-profiles, interdepartmental transfers, and any recently approved initiatives.
• New funding of $996.7 million for the Housing Accelerator Fund
  • Budget 2022 and a December 2022 off-cycle funding decisions provide     $3.95 billion over four years, starting in 2023-24, to create the Housing Accelerator Fund (HAF) as well as $100.8 million over five years, starting in 2023-24, to administer the HAF.
  • This program will support local governments by incentivizing actions that remove barriers to and accelerate the growth of new housing supply. Through supporting these actions, the HAF will promote the conditions to rapidly expand housing supply and for 100,000 net new units to come to market.
• Pending re-profile of $7.0 million for the Granville Island Emergency Relief Fund
  • Construction projects have faced labour challenges, supply chain issues and there have been delays in submitting the required permits applications. These issues have caused delays in completing previously scheduled work and have contributed to projects needing to be extended past March 31, 2023. However,we expect these projects will be completed in 2023.
• Pending re-profile of $25.7 million for the Funding to support homeowners affected by pyrrhotite in Québec.
  • We are working with Société de l'Habitation du Québec in order to finalize an agreement in order to provide this funding before the end of the 2023 calendar year.

JCCBI 2023-24 Supplementary Estimates (A)

Issue / question

What is The Jacques Cartier and Champlain Bridges Incorporated (JCCBI) seeking in Supplementary Estimates (A)?

Suggested response

• Through the 2023-2024 Supplementary Estimates (A), JCCBI is seeking a net increase in funding of $87 million, including:
  • $82.8 million to continue operating and maintaining its transportation infrastructure in Montréal; and,  
  • $4.6 million for the redevelopment of the Bonaventure Expressway.  
• This funding will ensure that the organization has the resources it needs to effectively operate, maintain and repair its infrastructure in the Greater Montréal Area, as well as to redevelop the federal portion of the Bonaventure Expressway into an urban boulevard, as announced in Budget 2023.

Background

The Jacques Cartier and Champlain Bridges Incorporated (JCCBI) is seeking a net increase in funding of $87 million through the 2023-2024 Supplementary Estimates (A) for the following:

• $82.8 million in funding for its transportation infrastructure in Montréal
  • Seeing as JCCBI's existing five-year cycle funding envelope came to an end on March 31, 2023, this funding will ensure the corporation has the appropriate resources to operate, maintain and repair its infrastructure assets in the Greater Montréal Area, namely the Jacques Cartier Bridge, the Champlain Bridge Ice Control Structure (Estacade), the Melocheville Tunnel, the Île des Soeurs Bypass Bridge, as well as the federal sections of the Honoré Mercier Bridge and the Bonaventure Expressway. This funding will also allow JCCBI to continue the deconstruction of the original Champlain Bridge.
• $4.6 million in funding for the redevelopment of the Bonaventure Expressway
  • This funding will allow JCCBI to continue work to redevelop the federal portion of the Bonaventure Expressway into an urban boulevard, as announced in Budget 2023.
• These funds are part of the Budget 2023 funding for JCCBI which provided  $273.3 million over nine years for the redevelopment of the federal portion of the Bonaventure Expressway into an urban boulevard and $768.4  million over five years to operate, maintain, and repair its infrastructure in the Greater Montréal Area.

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