Released on October 26, 2023
Crown Investments Corporation (CIC) tabled its 2022-23 Payee Disclosure Report for the corporation and its subsidiary Crown corporations today. The annual Payee Disclosure Report is an opportunity for the public to gain insight into Crown corporations' spending and emphasizes the transparency and accountability of the Crown sector to its shareholders.
"Our Crowns contributed $143 million in dividends and $93.5 million in equity repayments in 2022-23 to Saskatchewan's General Revenue Fund," Crown Investments Corporation Minister Dustin Duncan said. "These payments help advance Saskatchewan's priorities in education, health care, social services, highways and more. Our Crown corporations work hard to deliver quality essential services and public policy programing to meet current and future needs of families, businesses and communities."
Together, the Crown sector paid $6.2 billion in suppliers and other payments, supporting Saskatchewan businesses and growing local economies.
To enhance quality of life for residents, Crown corporations invested $16.8 million through grants, contributions, donations and sponsorships to communities, charitable organizations, educational institutions and others. SGI's $6 million contribution to the Saskatchewan Public Safety Agency for firefighting initiatives and the sector's renewed commitment to STARS Saskatchewan for $2 million per year from 2023 to 2028 are just two examples of Crowns' efforts to support growth and services in Saskatchewan.
Crown corporations provide quality employment to more than 11,000 people in Saskatchewan. Payments to Crown executives totaled $18.7 million, reflecting a decrease of three per cent over 2021-22, due to the reduction of the salary holdback plan. Total payments to employees for the reporting period were slightly over $1 billion - a four per cent increase over 2021-22 due to economic adjustments included in collective bargaining agreements.
The information is prepared in accordance with the guidelines established by the Standing Committee on Crown and Central Agencies in 2003. The report lists detailed information for CIC and each of its subsidiary Crown corporations under the following categories:
- ministerial and board member payments for expenses,
- payments to suppliers for goods and services, 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/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 Crown Investment Corporation's website at www.cicorp.sk.ca.
For more information, contact:Shirley Xie
Crown Investments Corporation