Core Policy and Procedures Manual - Amendment Summary
May 2014

Policy

7.0 Revenue and Receivables Management

 

7.2.13 Exchange Rates - Former policy 1 is repealed and replaced by use of the Bank of Canada posted exchange rate in CPPM D.4 & G.4 procedures, and a converter tool in CPPM D.4, for accounting entries.

Procedures

D. Payment Processing

 

D.4 Payments in US Funds to Suppliers Located in the United States - Revised for use of the Bank of Canada posted exchange rate to account for the exchange when making US cheque payments under $50,000, and for consistency with the procedure for US cheque payments over $50,000 and up to $250,000. Provides a link and steps to take to use the Bank of Canada’s online converter tool, in addition to, a manual calculation as an alternative method to convert US dollars to the Canadian equivalent.

G. Revenue Control

G.4 Deposits in US Currency - Revised for use of the Bank of Canada posted exchange rate for ministries to account for the exchange when processing US deposits up to $10,000.

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