Payee Disclosure Report 2012 - Crown Investments Corporation

CIC Asset Management Inc.
Crown Investments Corporation
Page 2 Report of Payments for the Year Ended December 31, 2012
D. Grants, Contributions, Donations, and Sponsorships
Individual payees are reported where the sum of payments to them total at least $5,000.
Grants, contributions, donations, and sponsorships include operating and capital grants paid to government and
non‐government agencies, grants‐in‐lieu of taxes paid to municipalities, and amounts paid where goods and
services are not received in return.
Grants‐In‐Lieu of Taxes
Amount
$
Nil .............................................................................................................................................................................................................................. ‐
Other Grants, Contributions, Donations,
Amount
and Sponsorships $
Nil .............................................................................................................................................................................................................................. ‐
E. Suppliers and Other Payments
Individual payees are reported where the sum of payments to them total at least $50,000. Certain payments of
$50,000 or more are excluded from this list—see Section F for more information.
There is no specific disclosure requirement concerning investments not made for money management purposes.
However, investment purchases exceeding $50,000 are included in the list.
* Certain CIC Asset Management Inc. subsidiaries are holding companies for underlying investments, and
therefore, do not have payment volumes to justify bank accounts separate from CIC Asset Management Inc. As a
result, CIC Asset Management periodically makes payments on behalf of these subsidiaries with an offsetting
increase in amounts due from the related subsidiary. During 2012, CIC Asset Management paid Corporate Capital
Tax on behalf of CIC Pulp Ltd. ($136,331), and CIC OSB Products Inc. ($43,970) and are included in the total paid to
the Ministry of Finance.
Amount
Amount
$ $
Crown Capital Partners Inc. ................................................ 137,826
Deloitte & Touche LLP .......................................................... 56,226
KPMG LLP ........................................................................... 223,850
MacPherson Leslie & Tyerman ........................................... 105,078
Meadow Lake OSB Limited Partnership .......................... 2,498,000
Ministry of Finance * ......................................................... 180,301
Solido Design Automation Inc. ........................................... 100,000
Stantec Consulting Ltd. ...................................................... 104,629
Amounts under $50,000 .................................................... 108,822
F. Payment Information Excluded from Public Reporting
This section provides summary information about payments excluded from public reporting and the reasons for
their exclusion. Certain payments over $50,000 may be excluded from public reporting where:
1. There is a legitimate need to protect commercially sensitive information;
2. Disclosure could reasonably be expected to prejudice the competitive position of, or interfere with, the
contractual obligations of the Crown corporation or a third party; and,
3. Disclosure is prohibited by law, including the provisions of The Freedom of Information and Protection and
Privacy Act.
Payments of $50,000 or more, excluded from public reporting Payee Amount
# $
Nil ................................................................................................................................................................................... ‐ .......................................... ‐