Canada Millennium Scholarship Foundation

Canada Millennium Scholarship Foundation

May 01, 2007 14:44 ET

Publication of the Office of the Auditor General's Report on the Management of the Canada Millennium Scholarship Foundation's Programs

MONTREAL, QUEBEC--(CCNMatthews - May 1, 2007) - In a report made public today - one of the first to address the contribution of a foundation to the delivery of government policy - the Auditor General of Canada has given top marks to the Canada Millennium Scholarship Foundation for the way it manages its programs.

The report concludes that the Foundation manages its programs well and that it has set up the necessary controls to ensure that government funds are properly spent, that users have adequate information about and access to the Foundation's programs, and that information needed to improve the Foundation's services is gathered from users.

"We're satisfied with the results of this detailed audit, which, for the first time, provides a precise, rigorous and accurate review of our organization's contribution to government policy with respect to financial assistance for post-secondary students," said the Foundation's executive director and chief executive officer Norman Riddell. "We're particularly pleased with the report's conclusions about the quality of our management procedures."

The Auditor General set out to determine whether federal loan and debt-reduction programs for post-secondary students are being managed in such a way as to improve access to post-secondary education, and whether the necessary controls are in place.

The Canada Millennium Scholarship Foundation is a private, independent organization created by an act of Parliament in 1998 as part of the Canadian Opportunities Strategy. Its mandate is to encourage students to strive for excellence and pursue their post-secondary studies. Each year, the Foundation distributes some $350 million in the form of bursaries and scholarships to post-secondary students. Since its inception, it has awarded approximately 800,000 scholarships, worth $2.3 billion.

Contact Information

  • Canada Millennium Scholarship Foundation
    Jean Lapierre
    Communications Director
    514-284-7235 / 514-213-2262