¹ Community Adult Learning Program – Procedures Manual, May 2006, Page 1.










Chapter Name
Department/        Agency
Year
Volume
Chapter
Par.
Recommendation
Self Reported Status
New Brunswick Innovation Foundation
Economic Development
2009
3
4
25
Further to that, we recommend [Economic Development] should require NBIF to sign a letter of agreement before transferring additional funds to the Trust. That letter of agreement should clearly document: 
• The amount and timing of funding to flow from [Economic Development] to NBIF, the period covered, and any significant details relating to the process for NBIF accessing those funds.
• [Economic Development] performance expectations for NBIF relating to its delivery of innovation funding. Those performance expectations should include:
• Expected program outcomes to be achieved by NBIF; 
• A requirement for NBIF to be covered by and compliant with the provincial Auditor General Act, giving our Office the legal right to conduct compliance and performance audits at NBIF and report the results of those audits to the Legislative Assembly;
• A requirement for periodic independent evaluations of the delivery of innovation funding through NBIF using recognized evaluation standards; and
• A requirement for NBIF to apply public sector values in delivering innovation funding for the Province. This should include a 
Not Implemented






requirement for NBIF to adopt a code of conduct, including conflict-of-interest guidelines, that is signed by all board members and staff. It should also include a requirement that NBIF be as publicly open as possible regarding access to information on the agreements, objectives, activities, and achievements with appropriate provisions being made for legitimate concerns of personal privacy, commercial confidence, and intergovernmental negotiations.  
Reporting required by [Economic Development] from NBIF. Required reporting should facilitate [Economic Development] monitoring and effectiveness reporting related to all aspects of NBIF’s performance.
• A requirement for both parties to comply with terms of the operational memorandum of understanding signed by [Economic Development] and NBIF.
• Specific remedies available to [Economic Development] should NBIF fail to meet government performance expectations or reporting requirements associated with the arrangement. In such cases, [Economic Development] should have the right to withdraw funding, roll-over funding to future years, or take other specific actions as determined appropriate in the circumstances.







• The role of government representatives on the board of NBIF.
• Other terms and conditions as considered necessary in the circumstances.



















 Detailed Status Report of Recommendations Since 2008                                                                     Appendix B	                                                                                                                          


 Appendix B                                                                     Detailed Status Report of Recommendations Since 2008


294
                                                                                                                    Report of the Auditor General - 2012

295
Report of the Auditor General - 2012