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• OCAF supported 22 projects in 2005-06, with total funding commitments of $1.8 million.
• After just seven years, OCAF’s funding commitments already exceed the initial government investment in the Fund by 27%.
• Over the first seven years of the Fund, administration expenses averaged less than $235,000 per year, or 6.5% of funding commitments.
• ¢ The longevity of the Fund - originally expected to last for only 5 to 7 years - has been extended to 10 years through client repayments, investment returns and low administrative costs.
|
OCAF Funding Approvals |
Number of projects supported
|
Funding commitments
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Most recent fiscal year
(2005-06)
|
22 |
$1.8 million |
| Total (1999-2006) |
201 |
$25.3 million |
• Don't wait - you might be too late! The Fund is depleting, so organizations should consider applying soon to in order to ensure that funding is available.
• As of April 1, 2006, almost $7 million remains in the Fund, including principal, interest and expected repayments.
• Based on current projections, the Fund is expected to last for a maximum of three more years - until 2008-09.
• OCAF’s Financial Statements are available upon request.
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