Stimulus spending and beyond
A roadmap to managing spending for funders and recipients
With the injection of $32 billion of stimulus funding into Canada’s economy, program owners and recipients find themselves on the horns of a dilemma. On the one hand, stimulus funds must be invested rapidly to achieve their intended short-term impact. On the other hand, controls must be put in place to ensure stimulus spending meets its economic and social objectives. For funders and recipients, this raises a stark question: How can you act quickly and wisely in managing this massive influx of funding?
To help you navigate these complexities, Deloitte developed Stimulus spending and beyond, a report that outlines six critical action items funders and recipients must pursue to ensure Canada’s stimulus dollars are spent appropriately and effectively. These include:
- Engaging in robust program governance
- Adopting an efficient investment analysis and due diligence methodology
- Developing a well-defined management and control framework
- Conducting effective risk-based monitoring and auditing
- Assessing value for the money invested and reporting on the results
- Enhancing program management
In addition to detailing the entire stimulus investment lifecycle, Stimulus spending and beyond sets out clear response strategies that funders and recipients can adopt to overcome the risks and pitfalls associated with stimulus spending. More critically, it outlines a path for putting processes into place that will guide decision-making well beyond the two-year term of most stimulus programs.
While these issues will affect you differently depending on the level of your program’s maturity, your experience managing funding programs and the strength of your back-end monitoring and reporting systems, one thing is clear: you cannot leave your stimulus investment program to chance.
Download Stimulus spending and beyond to learn how you can play your part to support a rapid and lasting economic recovery.
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