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The Innovations Fund was approved by Treasury Board Ministers in 2001 to support the government-wide implementation of Modern Comptrollership. This fund of $30 million was to be transferred to departments and agencies over a period of 3 years.
The funds transferred to departments and agencies were to be used for three main purposes. First, all departments were to conduct a capacity assessment of their comptrollership capabilities, second, they were to establish a project management office that would help the organization in the implementation of modern comptrollership by organizing training and communications activities and by helping the organization developing its modern management action plan to address the weaknesses and opportunities identified during the self-assessment process. Finally, funding was available to support projects designed to address specific issues or develop new knowledge on any of the seven elements of Modern Comptrollership. Overall, $29.5 millions of the $30 millions was distributed to over 90 organizations across the federal government.
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