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Receiver General for Canada
ObjectiveThe objective of the Receiver General is to protect the integrity of the Consolidated Revenue Fund. This includes ensuring that all money owing to the federal government is deposited to the credit of the Receiver General, directing and controlling the movement of money out of the Consolidated Revenue Fund, maintaining the central accounts of Canada and producing the Public Accounts. Who is the Receiver General? What is his role?The Receiver General for Canada is the Minister of Public Works and Government Services Canada. The Receiver General is the oldest Cabinet position in Canada, established in 1784. In meeting his objectives, the Receiver is responsible for the following functions: Making payments for the Government of CanadaThe Receiver General manages the issue of almost all payments out of the Consolidated Revenue Fund. In fiscal year 2002/2003, the Receiver General issued approximately 226 million federal payments, about 69 percent by electronic means. The Receiver General also manages the reconciliation of all payments issued and cashed and settles with the financial institutions for the value of those payments. Managing the deposit of money owing to the Canadian governmentThe Receiver General negotiates and manages all the banking arrangements needed to provide deposit and other facilities required to ensure that payments to the government are made as required. Maintaining the Accounts of CanadaThe Receiver General maintains the central accounting systems that record, at the summary level, all of the financial transactions of the federal government. Producing the Public Accounts of CanadaAfter the end of each fiscal year, the Receiver General prepares the Public Accounts, the annual audited, consolidated financial statements of the Government of Canada, for presentation to Parliament. Signature on government chequesReceiver General cheques are signed by the Receiver General for Canada and Deputy Receiver General for Canada (Minister and Deputy Minister of PWGSC). Human Resources and Skills Development Canada (HRSDC) issues their employment insurance benefit cheques, which are signed by HRSDC officials. What happens to a government cheque after it has been cashedOnce a Government of Canada cheque has been accepted by a financial institution, the cashed cheque is sent to our redemption control unit. There, a reconciliation is done against the issue information. If there is a match, the Receiver General organization settles with the financial institution that cashed the cheque for the amount of the payment. Pension cheques — what is PWGSC's rolePWGSC issues Receiver General payments including pension payments such as Canada Pension Plan, Old Age Security and Superannuation, the federal government's employee pension plan. More than 80% of these payments are made by direct deposit. PWGSC also administers the Superannuation plan for the Government of Canada. Dates on which cheques are sent outThe issue dates vary for each government program. For recurring monthly or quarterly payments like pensions and Child Tax Benefit, the payments are released to the financial institutions for direct deposit, and to Canada Post for cheques, in time to be delivered on the due date. For payments like tax refunds and payments to suppliers, the payments are released to the delivery agent on the day that they are processed by the Receiver General. Do Receiver General Cheques have an expiry date?Receiver General cheques never become stale dated. They can be cashed at any time. For further information, visit the Receiver General for Canada Web site. |
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