Released on August 21, 2020
Crown Investments Corporation (CIC) submitted the 2019-20 Payee Disclosure Report for CIC and its subsidiary Crown corporations to the Standing Committee on Crown and Central Agencies today.
“The Payee Disclosure Report provides accountability and transparency to the people of Saskatchewan,” Crown Investments Minister Joe Hargrave said. “Crown sector activity helps to stimulate the province’s overall economy by employing more than 11,000 Saskatchewan people, investing in infrastructure and creating economic spinoffs that benefit Saskatchewan businesses, communities and municipalities, as well as government priorities.”
The information is prepared in accordance with the Standing Committee’s guidelines established in 2003. The report lists the following detailed information for CIC and each of its subsidiary Crown corporations:
The 2019-20 report shows the Crown sector provided approximately $18.9 million in community support through grants, contributions, donations and sponsorships. Municipalities received $21 million from the sector through grants-in-lieu of property taxes. There was also $5.6 billion in payments to suppliers and others primarily for products and services.
Total compensation for the period remained steady at just over $1 billion. Of that, executive and senior management compensation was $20.2 million - a 1 per cent decrease compared to 2018-19. Over the past two years, executive and senior management compensation has decreased by 19 per cent.
It is important to note the report discloses amounts paid during the April 1–March 31 fiscal year. Amounts earned by or owing to suppliers and/or employees but paid in a different fiscal year are not included. For this reason, caution should be exercised when making year over year comparisons.
The report is available on CIC’s website at www.cicorp.sk.ca in the Publications section.
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