Page 60 - Demo

Schedule 3
RELATED PARTY TRANSACTIONS Year Ended March 31, 2022
Related parties are those entities consolidated or accounted for on the modified equity basis in the Government of Alberta’s Consolidated Financial Statements. Related parties also include key management personnel and close family members of those individuals in the Corporation. The Corporation and its employees paid or collected certain taxes and fees set by regulation for premiums, licenses and other charges. These amounts were incurred in the normal course of business, reflect charges applicable to all users, and have been excluded from this schedule.
Entities in the ministry refers to entities consolidated in the Ministry of Technology and Innovation (TI). Other entities outside of the ministry relate to the remaining entities consolidated at the Provincial level.
The Corporation had a shared service arrangement with the Department of Technology and Innovation and received financial services at no charge.
The Corporation had the following transactions with related parties reported in the Statement of Operations and the Statements of Financial Position at the amount of consideration agreed upon between the related parties:
Entities in the Ministry
(in thousands) 2022 Revenues
2023
$ 50,000
$ 150,000
Grants from Technology and Innovation
Receivable from TI(1)
(1) $150,000 (2022 - $150,000) Receivable is from the Department of Technology and Innovation.
$ 50,000 $ 150,000
2022 2023
58