Corporate Finance
How much is each employee allocated in professional development funding per year?
$2,000
What are the six TI Corp's assigned projects?
PBR, BSP, KHCP, FRTP, SIP, SLS
What is the current USD/CAD exchange rate?
1.37
Who is responsible for managing a contract?
The contract manager
What year was the loonie introduced?
1987
March 31
What is the "$50 Million Table"?
Public reporting on all large capital projects in the Province, showing substantial completion date, total spend, and total project budget.
What is a basis point?
Can TI Corp set it's own procurement/contracting rules?
Not for the project. Corporate contracts can as long as we comply with the "spirit and intent" of government policy.
What is the name of the Board committee that oversees TI Corp's finances?
Audit and Risk Management (ARM) Committee
What is the maximum reimbursement for safety boots?
$200 +tax
How long does Finance have to close its monthly books?
5 days
What is a performance bond?
They protect the project owner from any financial loss if the work completed by the contractor is not up to standards, quality or specifications agreed in the initial contract.
As a Crown, TI Corp can follow the "spirit and intent" of what?
Core Policy and Procedures Manual
TI Corp is a subsidiary of what organization?
BC Transportation Financing Authority (BCTFA)
Name the accounting standards that TI Corp must follow for its financial statements.
Public Sector Accounting Standards
What is the cumulative amendment threshold for a contract before it requires Board approval?
$1.5 million
What does CDOR stand for?
Canadian Deposit Overnight Rate
Name a criteria that would allow for a direct contract award without competition?
1) another government
2) proven that only one contractor is qualified
3) emergency
4) competitive process would harm security or life
5) disclosure would harm public interest
What language does the word for finance come from?
French, the verb Finir is "to finish"
How much in expenses is TI Corp forecasting for 2023/24?
$44M
How were project forecasts processed in 2019?
Handwritten on a printed financial report
How many NCE points can a contractor have before they accrue payments?
15
How many RFPs has TI Corp posted on BC Bid up to Oct 31?
19
An asset that you pledge as security for a loan is known as?
Collateral