Proceedings of the Standing Senate Committee on
Banking, Trade and Commerce
Issue 29 - Tenth Report of the Committee
Thursday, May 14, 2015
The Standing Senate Committee on Banking, Trade and Commerce has the honour to present its
TENTH REPORT
Your committee, which was authorized by the Senate on Tuesday, March 25, 2014, to examine and report on the use of digital currency, respectfully requests funds for the fiscal year ending March 31, 2016.
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,
IRVING GERSTEIN
Chair
STANDING SENATE COMMITTEE ON
BANKING, TRADE AND COMMERCE
SPECIAL STUDY ON THE USE OF DIGITAL CURRENCY
APPLICATION FOR BUDGET AUTHORIZATION
FOR THE FISCAL YEAR ENDING MARCH 31, 2016
Extract from the Journals of the Senate of Tuesday, March 25, 2014:
The Honourable Senator Gerstein moved, seconded by the Honourable Senator Lang:
That the Standing Senate Committee on Banking, Trade and Commerce be authorized to examine and report on the use of digital currency including the potential risks, threats and advantages of these electronic forms of exchange; and
That the Committee submits its final report no later than June 30, 2015, and that the Committee retains all powers necessary to publicize its findings until 180 days after the tabling of the final report.
After debate,
The question being put on the motion, it was adopted.
Gary W. O'Brien
Clerk of the Senate
SUMMARY OF BUDGET
| General Expenses | $16 700 |
| TOTAL | $16 700 |
The above budget was approved by the Standing Senate Committee on Banking, Trade and Commerce on Thursday, May 7, 2015.
The undersigned or an alternate will be in attendance on the date that this budget is considered.
| Date | The Honourable Senator Irving Gerstein | |
| Chair, Standing Senate Committee on Banking, Trade and Commerce |
| Date | The Honourable Senator Leo Housakos | |
| Chair, Standing Committee on Internal Economy, Budgets and Administration |
HISTORICAL INFORMATION
| Year | Budget | Actual |
| 2014-2015 | $78,834 | $35,393 |
GENERAL ESTIMATE OF THE TOTAL COST OF
THE SPECIAL STUDY
Pursuant to Chapter 3:06, section 2(2) of the
Senate Administrative Rules.
Estimate of the total cost of the special study is $52,093
STANDING SENATE COMMITTEE ON
BANKING, TRADE AND COMMERCE
SPECIAL STUDY ON THE USE OF DIGITAL CURRENCY
EXPLANATION OF BUDGET ITEMS
APPLICATION FOR BUDGET AUTHORIZATION
FOR THE FISCAL YEAR ENDING MARCH 31, 2016
| GENERAL EXPENSES | |||||||||
| PROFESSIONAL AND OTHER SERVICES | |||||||||
| CONSULTANTS | |||||||||
| 1. | Communications consultant (0303) (Sole Sourcing) (Project fee and living expenses) | 11,700 | |||||||
| Sub-total | $11,700 | ||||||||
| ALL OTHER EXPENDITURES | |||||||||
| OTHERS | |||||||||
| 1. | Miscellaneous expenses (0798) | 5,000 | |||||||
| Sub-total | $5,000 | ||||||||
| Total of General Expenses | $16,700 | ||||||||
| Grand Total | $ 16,700 | ||||||||
The Senate Administration has reviewed this budget application.
| Blair Armitage, Principal Clerk, Committees Directorate |
Date |
| Bonnie Marga, Comptroller, Finance and Procurement Directorate |
Date |
APPENDIX (B) TO THE REPORT
Thursday, May 14, 2015
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, 2016, for the purpose of its special study on digital currency, as authorized by the Senate on Tuesday, March 25, 2014. The said budget is as follows:
Banking, Trade and Commerce (Digital currency)
General Expenses $ 16,700 Total $16,700
(includes funds for sole source for professional services)
Respectfully submitted,
LEO HOUSAKOS
Chair