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• OCAF supported 42 projects in 2010-11, with total funding commitments of $4.6 million.
• After over a decade, OCAF’s funding commitments have exceeded the initial government investment in the Fund by 67%.
• Over the life of the Fund, administration expenses averaged less than $230,000 per year, or 6.9% of funding commitments.
• The longevity of the Fund has been extended through client repayments, investment returns and low administrative costs.
|
OCAF Funding Approvals |
Number of projects supported
|
Funding commitments
|
Most recent fiscal year
(2010-11)
|
42 |
$4.6 million |
| Total (1999-2011) |
380 |
$42.1 million |
• As of April 1, 2011, almost $3 million remains in the Fund, including principal, interest and expected repayments. in addition, the Fund will receive $3.3 million in 2011 and #3.4 million in 2012 as the second and third installments of the $10 million commitment by the Provincial government in the 2010 budget.
• Based on current projections, the Fund is expected to last until 2014-15.
• OCAF’s Financial Statements are available upon request.
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