Page 59 - Demo

Note 12 Approval of Financial Statements
The Board approved the financial statements of Alberta Enterprise Corporation on June 2, 2023.
Schedules to the Financial Statements
Schedule 1
EXPENSES – DETAILED BY OBJECT Year Ended March 31, 2023
(in thousands)
Salaries, wages and employee benefits
Supplies, services and payments to consultants Grants and sponsorships
Amortization of tangible capital assets (Note 10) Total expenses
Schedule 2
SALARY AND BENEFITS DISCLOSURE Year Ended March 31, 2022
(in thousands)
Chair of the Board Vice Chair of the Board Board Members (five)(4) Executives:
Chief Executive Officer Chief Financial Officer(5)
Vice President, Investments Vice President, Investments(6)
(1) Base salary includes regular salary, holiday pay, in Lieu RSP, and vehicle allowances.
2022
Actual
$ 1,323 516 181 – $ 2,020
2022
Total $ 25 13 63
306 – 221 181 $ 809
2023
Budget
Actual
$ 1,700
$ 1,547
1,170
895
180
177
–
15
$ 3,050
$ 2,634
2023
Base Salary(1)
Other Cash Benefits(2)
Other Non-cash
Benefits(3)
Total
$–
$ 23
$1
$ 24
–
15
1
16
–
65
3
68
280
10
34
324
82
–
8
90
226
–
5
231
183
–
5
188
$ 771
$ 113
$ 57
$ 941
2022 2023
57
(2) Other cash benefits for board members include honoraria payments and per diem allowances. Other cash benefits for executives include life and disability insurance. There were no discretionary amounts paid to executives in 2023 (2022 – $nil).
(3) Other non-cash benefits include Canada Pension Plan, Retirement Savings Plans, Employment Insurance payments, and parking benefits.
(4) At any given time, the Board of Directors consisted of no more than five members in 2023 (2022 – five) plus the chair and vice chair, whose remuneration is disclosed separately.
(5) Chief Financial Officer effective start date of November 14, 2022.
(6) This position consisted of an 0.8 full-time equivalent in the fiscal year (2022 – 0.8).