Sections revised for the addition of CPPM 21 Government Transfers and revised government transfers language and requirements:
4.3.14 Transfer Payments – Description of government transfer as a type of payment retained in CPPM 4. However, remaining contents removed from CPPM 4.3.14 and moved to CPPM 21.
6.2 General – Identify government transfers pertaining to grants and entitlements as excluded from CPPM 6 policy.
6.3.3.a.2. Direct Awards – Transfer Under Agreement are renamed to Shared Cost Arrangements. Link to CPPM 21.3.6
6.3.3.e.4. Administration - Transfer Under Agreement are renamed to Shared Cost Arrangements.
7.2.3 Cost Sharing Agreements – Amended to include government transfers of monetary assets or tangible capital to the Province from other entities. Link to CPPM 22.214.171.124.
H.1 Fiscal Year-End Close Off/Accrual Accounting Procedures:
Expenses – Amended to reflect recognition of an expense by the Province as the transferring government for shared cost arrangements. Link to CPPM 21.3.3.
Expenses/Accounts Payable – Amended to reflect recognition of an expense for unpaid portions of incurred eligible expenses arising from a financing arrangement of a shared cost arrangement. Link to CPPM 21.3.3.
I.8 Sales and Transfers of Tangible Capital Assets – Provide clarity that sales or transfers where there is an exchange transaction (the Province is the direct beneficiary of the sale or transfer of the tangible capital asset) should be recorded at fair market value.
Note: CPPM 126.96.36.199 addresses a government transfer of tangible capital assets.
M.6 External Party Costs –shared cost agreements renamed to shared cost arrangements.
M.8 Government Transfer Payments – transfer payments renamed to government transfer payments and terminology changed.