This is a reply to a question asked by Mrs. Marie-Jewell on March 27, 1992. Further to the supplementary to Question O415-12(2) on the actual costs for the Housing Corporation Board of Directors, I wish to provide the following information.
In my previous responses on this matter, estimated direct costs, based on 1991-92 year-to-date expenditures, were $276,000. To this amount, an inflationary factor of $13,800, equal to five per cent, was added to come to the approximate figure for 1992-93 of $290,000. The actual expenditures for 1991-92, now that the fiscal year is over, are $277,614. Therefore, the estimate of $290,000 for 1992-93 is valid.
Unfortunately, providing actual costs in relation to the indirect board costs is not possible because the government does not track actual expenses in such great detail as to record the hours spent by senior managers at annual board meetings, time spent developing new policies, programs and procedures for board review. The approximate costs mentioned for direct board expenses were based on estimates of management and staff time during 1991-92. The estimated value was $330,000 for 1991-92, to which a five per cent inflationary adjustment of $16,000 was added to come to the 1992-93 approximate value of $346,000.