Crown Sector 2023-24 Payee Disclosure Report Released

CANADA, October 31 - Released on October 31, 2024

Crown Investments Corporation (CIC) tabled its 2023-24 Payee Disclosure Report with the Standing Committee on Crown and Central Agencies today. The report lists Crown sector payments from April 1, 2023 to March 31, 2024. 

This report emphasizes the transparency and accountability of the Crown corporations to their shareholders, the people of Saskatchewan, and provides the public with an opportunity to gain insight into the sector's spending.

On behalf of the Crown sector, CIC provided $152 million in dividends in 2023-24 to Saskatchewan's General Revenue Fund to support priorities in health care, education, highways and more. The Crowns also invested $1.9 billion in infrastructure to ensure system reliability and safety and continued quality service delivery. Meanwhile, these activities helped stimulate local economies and created jobs for families and communities. High-quality infrastructure and strong local procurement are key to the Crowns' abilities to deliver the reliable and affordable services that Saskatchewan people have come to expect. 

The sector continues to respond to an increased demand for social and public policy programing support by investing $20.2 million through grants, contributions, donations and sponsorships to communities, not-for-profit organizations, educational institutions and others.  

More than 11,000 Crown employees work across Saskatchewan. In 2023-24, payments to employees totaled $1.2 billion, an eight per cent increase compared to 2022-23, due to factors including a three per cent economic increase and retroactive adjustments to salaries and benefits resulting from negotiated in-scope collective agreements. Crown executive remuneration increased three per cent, reflecting a three per cent economic increase.

Reporting Methodology

The report is prepared in accordance with the guidelines established by the Standing Committee on Crown and Central Agencies. The report lists detailed information for CIC and its subsidiary Crown corporations under the following categories:

• ministerial and board member payments for expenses;
• payments to suppliers and other payees who received more than $50,000;
• employees who received more than $50,000 in remuneration; and
• grants, contributions, donations and sponsorships greater than $5,000.

The report discloses amounts paid during the April 1 - March 31 fiscal year. Amounts earned by or owing to suppliers and employees but paid in a different fiscal year are not included. Caution should be exercised when making year-over-year comparisons.

The report is available on Crown Investment Corporation's website at www.cicorp.sk.ca.

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