Proceedings of the Standing Senate Committee on
Banking, Trade and Commerce
Issue 5 - Fourth Report of the Committee
Thursday, December 6, 2007
The Standing Senate Committee on Banking, Trade and Commerce has the honour to present its
FOURTH REPORT
Your committee which was authorized by the Senate on Tuesday, November 20, 2007, to examine and report upon the present state of the domestic and international financial system, respectfully requests that it be empowered to engage the services of such counsel, technical, clerical and other personnel as may be necessary and to travel within and outside of Canada, for the purpose of this study.
Pursuant to Chapter 3:06, section 2(1)(c) of the Senate Administrative Rules, the budget submitted to the Standing Committee on Internal Economy, Budgets and Administration and the report thereon of that Committee are appended to this report.
Respectfully submitted,
W. DAVID ANGUS
Chair
STANDING SENATE COMMITTEE ON
BANKING, TRADE AND COMMERCE
SPECIAL STUDY ON THE PRESENT STATE OF
THE DOMESTIC AND INTERNATIONAL FINANCIAL SYSTEM
APPLICATION FOR BUDGET AUTHORIZATION
FOR THE FISCAL YEAR ENDING MARCH 31, 2008
Extract from the Journals of the Senate of Tuesday, November 20, 2007:
The Honourable Senator Angus moved, seconded by the Honourable Senator Johnson:
That the Standing Senate Committee on Banking, Trade and Commerce be authorized to examine and report upon the present state of the domestic and international financial system; and
That the papers and evidence received and taken on the subject during the First session of the Thirty-ninth Parliament and any other relevant Parliamentary papers and evidence on the said subject be referred to the Committee; and
That the Committee submit its final report no later than December 31 2008, and that the Committee retain until March 31, 2009 all powers necessary to publicize its findings.
After debate, The question being put on the motion, it was adopted.
Paul C. Bélisle
Clerk of the Senate
SUMMARY OF EXPENDITURES
| Professional and Other Services | $ 42,300 |
| Transportation and Communications | 80,025 |
| All Other Expenditures | 2,000 |
| TOTAL | $ 124,325 |
The above budget was approved by the Standing Senate Committee on Banking, Trade and Commerce on November 28, 2007.
The undersigned or an alternate will be in attendance on the date that this budget is considered.
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Date
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W. David Angus
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| Chair, Standing Senate Committee on Banking, Trade and Commerce | ||
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Date
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George J. Furey
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| Chair, Standing Committee on Internal Economy, Budgets and Administration |
HISTORICAL INFORMATION
| Fiscal year | 2002-2003 | 2003-2004 | 2004-2005 | 2005-2006 | 2006-2007 |
| Total approved | $ 277,200 | $ 63,000 |
$ 36,650 |
$ 94,900 |
$ 122,600 |
| Expenditures | $ 131,146 | $ 38,333 | $ 98 | $ 1,338 | $ 42,016 |
STANDING SENATE COMMITTEE ON
BANKING, TRADE AND COMMERCE
SPECIAL STUDY ON THE PRESENT STATE OF
THE DOMESTIC AND INTERNATIONAL FINANCIAL SYSTEM
EXPLANATION OF BUDGET ITEMS
APPLICATION FOR BUDGET AUTHORIZATION
FOR THE FISCAL YEAR ENDING MARCH 31, 2008
| GENERAL EXPENSES | ||||||
| PROFESSIONAL AND OTHER SERVICES | ||||||
| 1. Expert consultants and Consultant
in Communication (0401) & (0435) (20 days @ $ 1,200/day) |
$ 24,000 | |||||
| 2. Working meals (0415) (15 meals at $ 400) |
6,000 | |||||
| 3. Hospitality (0410) | 2,000 | |||||
| Sub-total | $ 32,000 | |||||
| TRANSPORTATION AND COMMUNICATIONS | ||||||
| Sub-total | $ 0 | |||||
| ALL OTHER EXPENDITURES | ||||||
| 1. Miscellaneous expenses (0799) | $ 2,000 | |||||
| Sub-total | $ 2,000 | |||||
| Total | $ 34,000 | |||||
| ACTIVITY 1 | ||||||
| Washington January 2008 Ottawa –Washington (15 participants - 12 senators and 3 staff) |
||||||
| PROFESSIONAL AND OTHER SERVICES | ||||||
| 1. Working meals (0415) (2 meals at $ 1400) |
$ 2,800 | |||||
| 2. Translation and Interpretation Services (0412) ($ 1,250 x 2 days) |
2,500 | |||||
| Sub-total | $ 5,300 | |||||
| TRANSPORTATION AND COMMUNICATIONS | ||||||
| 1. Air fare (15 participants at $ 2,300) |
$ 34,500 | |||||
| 2. Taxis (15 participants at $ 250) |
3,750 | |||||
| 3. Minibus rental ($ 1,100/day for 3 days) |
3,300 | |||||
| 4. Per diem and incidentals (15 participants for 3 days at $ 100/ day) |
4,500 | |||||
| 5. Hotel Accommodations (15 participants for 3 nights at $ 485/night) |
21,825 | |||||
| 6. Contingencies | 3,000 | |||||
| Sub-total | $ 70,875 | |||||
| ALL OTHER EXPENDITURES | ||||||
| Sub-total | $ 0 | |||||
| Total | $ 76,175 | |||||
| ACTIVITY 2 | ||||||
| Work on behalf of the Committee (Participation at conferences, meetings, speaking engagements, etc.) |
||||||
| PROFESSIONAL AND OTHER SERVICES | ||||||
| 1. Registration fees (0406) | $ 5,000 | |||||
| Sub-total | $ 5,000 | |||||
| TRANSPORTATION AND COMMUNICATIONS | ||||||
| 1. Air transportation | $ 6,000 | |||||
| 2. Ground transportation | 400 | |||||
| 3. Hotel | 1,600 | |||||
| 4. Per diem | 400 | |||||
| 5. Contingencies | 750 | |||||
| Sub-total | $ 9,150 | |||||
| ALL OTHER EXPENDITURES | ||||||
| Sub-total | $ 0 | |||||
| Total | $ 14,150 | |||||
| Grand Total | $ 124,325 | |||||
The Senate administration has reviewed this budget application.
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Heather Lank, Principal Clerk, Committees Directorate
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Date
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| Hélène Lavoie, Director of Finance |
Date
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APPENDIX (B) TO THE REPORT
Thursday, December 6, 2007
The Standing Committee on Internal Economy, Budgets and Administration has examined the budget presented to it by the Standing Senate Committee on Banking, Trade and Commerce for the proposed expenditures of the said Committee for the fiscal year ending March 31, 2008 for the purpose of its special study on domestic and international financial system, as authorized by the Senate on Tuesday, November 20, 2007. The said budget is as follows:
Professional and Other Services $ 42,300 Transportation and Communications 80,025 All Other Expenditures 2,000 TOTAL $ 124,325
(includes funds for a fact-finding trip to Washington and for participation at conferences)
Respectfully submitted,
GEORGE J. FUREY
Chair