Travel and hospitality expenses

FCC is financially self-sustaining and is not dependent on the federal government for annual funding. Its mandate is to enhance rural Canada by providing business and financial solutions to farm families and agribusiness.

At FCC, acting with integrity and maintaining the highest ethical standards are important priorities.  As part of our commitment to advance the business of agriculture, we have policies governing:

  • Travel necessary to effectively deliver services to customers and reimburse employees for expenses when traveling on FCC business
  • Hosting customer events and community events
  • Use of internal business meetings, teambuilding and volunteer activities

Expense policies

Report on annual expenditures for travel, hospitality and conferences for 2016-17

This report provides information on total annual expenditures for each of travel, hospitality, and conferences for FCC for the fiscal years ending March 31, 2017 and March 31, 2016 along with explanations on significant variances.

Expenditure category Expenditures for the year ending March 31, 2017
($000)
(a)
Expenditures for the year ending March 31, 2016
($000)
(b)
Variance
(b-a)
Travel: FCC Employees * $7,434 $7,602 $(168)
Travel: Non-FCC Employees $1,338 $2,697 $1,359
Total Travel $8,772 $10,299 $1,527
Hospitality $1,648 $2,158 $510
Conference Fees $617 $803 $186
Total $11,037 $13,260 $2,223

*Includes International travel by the President & CEO

The overall decrease in travel, hospitality, and conference expenditures of $2,223K from 2015-16 is a result of reduced external consultant travel and ongoing due diligence and management of FCC's expenses. 

Travel:

FCC Employees: Compared to 2015-16, there was no significant variance in travel expenditures for FCC employees.

Non-FCC employees: Travel expenditures for non-FCC employees decreased by $1,359K from the prior fiscal year mainly due to the completion of the enterprise risk management program in 2015-16, which required more external consultant travel.

Hospitality

Hospitality expenditures decreased by $510K compared to 2015-16, which was mainly due to reduced business meals.

Conference Fees

Expenditures on conference fees decreased by $186K from 2015-16 as a result of less employees attending conferences.

Enterprise Management Team and Board of Directors expenditures

Members of the Enterprise Management Team are responsible for ensuring the corporation achieves its mandate and strategic objectives.  Travel is required to meet with industry partners, stakeholders and FCC's shareholder (Government of Canada), as well as customers and employees.

The FCC Board of Directors meet regularly to ensure that the corporation remains focused on its vision, mission, and values, and fulfills its public policy role. Travel is required to attend Board meetings and other key corporate events, conference and learning events.

The following lists travel and hospitality expenses for each member of the Enterprise Management Team and Board of Directors. Expenses are reported quarterly by month, with running totals for the year shown at the bottom of each table.

Enterprise Management Team

Report File Details
Michael Hoffort
President and Chief Executive Officer
2017-18 Travel and hospitality expenses PDF (58 KB)
2016-17 Travel and hospitality expenses PDF (105 KB)
2015-16 Travel and hospitality expenses PDF (30 KB)
Corinna Mitchell-Beaudin
Executive Vice-President and Chief Risk Officer
2017-18 Travel and hospitality expenses PDF (60 KB)
2016-17 Travel and hospitality expenses PDF (101 KB)
Rick Hoffman
Executive Vice-President and Chief Financial Officer
2017-18 Travel and hospitality expenses PDF (56 KB)
2016-17 Travel and hospitality expenses PDF (100 KB)
Sophie Perreault
Executive Vice-President and Chief Operating Officer
2017-18 Travel and hospitality expenses PDF (63 KB)
2016-17 Travel and hospitality expenses PDF (103 KB)
Travis Asmundson
Executive Vice-President and Chief Information Officer
2017-18 Travel and hospitality expenses PDF (60 KB)
2016-17 Travel and hospitality expenses PDF (101 KB)
Todd Klink
Executive Vice-President and Chief Marketing Officer
2017-18 Travel and hospitality expenses PDF (61 KB)
2016-17 Travel and hospitality expenses PDF (103 KB)
Greg Honey
Executive Vice-President and Chief Human Resource Officer
2017-18 Travel and hospitality expenses PDF (57 KB)
2016-17 Travel and hospitality expenses PDF (101 KB)
Greg Willner
Executive Vice-President, Law and Corporate Secretary
2017-18 Travel and hospitality expenses PDF (61 KB)
2016-17 Travel and hospitality expenses PDF (103 KB)

Board of Directors