Consolidated Revenue Fund of Canada
Encyclopedia
The Consolidated Revenue Fund of Canada is the account into which taxes and revenue are deposited, and from which funds are withdrawn in order to defray the costs of public services. Funds are deposited and withdrawn by the Receiver General for Canada
.
, currently the Hon. Rona Ambrose
. By convention, one becomes the Receiver General
by virtue of also being the Minister of Public Works and Government Services.
Cheques distributed by the Government of Canada
to citizens and organizations are made in the name of the Receiver General
, just as payments to the Government
are made out to the same. The Receiver General
by convention, however, never exercises any degree of discretion over payments to or from the Consolidated Revenue Fund, other than by following whatever directives might exist in relevant statutes and regulations.
. The Act went on to stipulate several charges to be made to the fund, some of which were recurring charges, and continue to be withdrawn from the fund today, in accordance with the Act. The original balance of the fund was created from the consolidated financial resources of whatever revenue and taxation could be lawfully appropriated by the Legislature
s of the provinces of Ontario
, Quebec
, New Brunswick
and Nova Scotia
. Taxes and revenue appropriated by the Government of Canada
are deposited into the current Consolidated Revenue Fund.
, Nova Scotia
and New Brunswick
just before their union. The application of this second charge to the Consolidated Revenue Fund has since ended, in any practical sense. One could argue that the payment of the federal debt from the fund could constitute a modern variation on this Second Charge.
from the Consolidated Revenue Fund; by convention, this charge takes precedence over all others from the fund, even today. The current salary of the Governor General
is $
110,126 per annum.
Receiver General for Canada
The Receiver General for Canada is responsible for making payments to the Government of Canada each fiscal year, accepting payments from financial institutions and preparing the Public Accounts of Canada, containing annual audited financial statements of the Government of Canada...
.
Receiver General for Canada
Payments to and from the Consolidated Revenue Fund of Canada are made by the Receiver GeneralReceiver General for Canada
The Receiver General for Canada is responsible for making payments to the Government of Canada each fiscal year, accepting payments from financial institutions and preparing the Public Accounts of Canada, containing annual audited financial statements of the Government of Canada...
, currently the Hon. Rona Ambrose
Rona Ambrose
Ronalee "Rona" Ambrose, PC, MP is the Minister of Public Works and Government Services for Canada, Vice-Chair of the Treasury Board Cabinet committee, Minister of State for Status of Women Canada and Minister of Western Economic Diversification.In the previous Parliament, she was Canada's Minister...
. By convention, one becomes the Receiver General
Receiver General for Canada
The Receiver General for Canada is responsible for making payments to the Government of Canada each fiscal year, accepting payments from financial institutions and preparing the Public Accounts of Canada, containing annual audited financial statements of the Government of Canada...
by virtue of also being the Minister of Public Works and Government Services.
Cheques distributed by the Government of Canada
Government of Canada
The Government of Canada, formally Her Majesty's Government, is the system whereby the federation of Canada is administered by a common authority; in Canadian English, the term can mean either the collective set of institutions or specifically the Queen-in-Council...
to citizens and organizations are made in the name of the Receiver General
Receiver General for Canada
The Receiver General for Canada is responsible for making payments to the Government of Canada each fiscal year, accepting payments from financial institutions and preparing the Public Accounts of Canada, containing annual audited financial statements of the Government of Canada...
, just as payments to the Government
Government of Canada
The Government of Canada, formally Her Majesty's Government, is the system whereby the federation of Canada is administered by a common authority; in Canadian English, the term can mean either the collective set of institutions or specifically the Queen-in-Council...
are made out to the same. The Receiver General
Receiver General for Canada
The Receiver General for Canada is responsible for making payments to the Government of Canada each fiscal year, accepting payments from financial institutions and preparing the Public Accounts of Canada, containing annual audited financial statements of the Government of Canada...
by convention, however, never exercises any degree of discretion over payments to or from the Consolidated Revenue Fund, other than by following whatever directives might exist in relevant statutes and regulations.
Establishing the fund
The Consolidated Revenue Fund of Canada is established by Section 102 of the Constitution Act, 1867Constitution Act, 1867
The Constitution Act, 1867 , is a major part of Canada's Constitution. The Act created a federal dominion and defines much of the operation of the Government of Canada, including its federal structure, the House of Commons, the Senate, the justice system, and the taxation system...
. The Act went on to stipulate several charges to be made to the fund, some of which were recurring charges, and continue to be withdrawn from the fund today, in accordance with the Act. The original balance of the fund was created from the consolidated financial resources of whatever revenue and taxation could be lawfully appropriated by the Legislature
Legislature
A legislature is a kind of deliberative assembly with the power to pass, amend, and repeal laws. The law created by a legislature is called legislation or statutory law. In addition to enacting laws, legislatures usually have exclusive authority to raise or lower taxes and adopt the budget and...
s of the provinces of Ontario
Ontario
Ontario is a province of Canada, located in east-central Canada. It is Canada's most populous province and second largest in total area. It is home to the nation's most populous city, Toronto, and the nation's capital, Ottawa....
, Quebec
Quebec
Quebec or is a province in east-central Canada. It is the only Canadian province with a predominantly French-speaking population and the only one whose sole official language is French at the provincial level....
, New Brunswick
New Brunswick
New Brunswick is one of Canada's three Maritime provinces and is the only province in the federation that is constitutionally bilingual . The provincial capital is Fredericton and Saint John is the most populous city. Greater Moncton is the largest Census Metropolitan Area...
and Nova Scotia
Nova Scotia
Nova Scotia is one of Canada's three Maritime provinces and is the most populous province in Atlantic Canada. The name of the province is Latin for "New Scotland," but "Nova Scotia" is the recognized, English-language name of the province. The provincial capital is Halifax. Nova Scotia is the...
. Taxes and revenue appropriated by the Government of Canada
Government of Canada
The Government of Canada, formally Her Majesty's Government, is the system whereby the federation of Canada is administered by a common authority; in Canadian English, the term can mean either the collective set of institutions or specifically the Queen-in-Council...
are deposited into the current Consolidated Revenue Fund.
The First Charge
The First Charge, established by Section 103 of the Constitution Act, 1867, is the cost of the actual maintenance of the Consolidated Revenue Fund itself. In accordance with the Act, the costs of collection, management and receipt of the fund are to be the first charge made to the account.The Second Charge
The Second Charge, as established by Section 104 of the Act, was the annual interest on the provincial debts of the provinces of CanadaProvince of Canada
The Province of Canada, United Province of Canada, or the United Canadas was a British colony in North America from 1841 to 1867. Its formation reflected recommendations made by John Lambton, 1st Earl of Durham in the Report on the Affairs of British North America following the Rebellions of...
, Nova Scotia
Nova Scotia
Nova Scotia is one of Canada's three Maritime provinces and is the most populous province in Atlantic Canada. The name of the province is Latin for "New Scotland," but "Nova Scotia" is the recognized, English-language name of the province. The provincial capital is Halifax. Nova Scotia is the...
and New Brunswick
New Brunswick
New Brunswick is one of Canada's three Maritime provinces and is the only province in the federation that is constitutionally bilingual . The provincial capital is Fredericton and Saint John is the most populous city. Greater Moncton is the largest Census Metropolitan Area...
just before their union. The application of this second charge to the Consolidated Revenue Fund has since ended, in any practical sense. One could argue that the payment of the federal debt from the fund could constitute a modern variation on this Second Charge.
The Third Charge
The Third Charge, established by Section 105 of the Act, is the payment of the salary of the Governor General of CanadaGovernor General of Canada
The Governor General of Canada is the federal viceregal representative of the Canadian monarch, Queen Elizabeth II...
from the Consolidated Revenue Fund; by convention, this charge takes precedence over all others from the fund, even today. The current salary of the Governor General
Governor General of Canada
The Governor General of Canada is the federal viceregal representative of the Canadian monarch, Queen Elizabeth II...
is $
Canadian dollar
The Canadian dollar is the currency of Canada. As of 2007, the Canadian dollar is the 7th most traded currency in the world. It is abbreviated with the dollar sign $, or C$ to distinguish it from other dollar-denominated currencies...
110,126 per annum.