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 and volunteer activities
View our policies on travel and related expenses and business meetings and events.
Report on annual expenditures for travel, hospitality and conferences for 2023-24
This report provides information on total annual expenditures for travel, hospitality, and conferences for FCC for the fiscal years ending March 31, 2024 and March 31, 2023 along with explanations on significant variances.
| Expenditure category | Expenditures for the year ending March 31, 2024 ($000) (a) |
Expenditures for the year ending March 31, 2023 ($000) (b) |
Variance (b-a) |
|---|---|---|---|
| Travel: | |||
| Operational activities | $6,463 | $6,979 | $516 |
| Key stakeholders | $839 | $707 | ($132) |
| Internal governance | $130 | $156 | $26 |
| Training | $576 | $626 | $50 |
| Other | $660 | $881 | $221 |
| Total Travel | $8,668 | $9,349 | $681 |
| Hospitality1 | $1,352 | $1,499 | $147 |
| Conference Fees | $378 | $451 | $73 |
| Total | $10,398 | $11,299 | $901 |
For all expenditure categories:
In 2024, expenditures for travel, hospitality and conference fees decreased due to the commitment to reduce administration expenses, as required by Federal Budget 2023.
1 Comparative figures have been restated from the amount previously disclosed ($2,119) due to the removal of non-food and drink related amounts.
Enterprise Management Team and Board of Directors expenditures
Members of the Executive 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 fulfils 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 monthly, with running totals for the year shown at the bottom of each table.
Enterprise Management Team
| Report | ||
|---|---|---|
| Justine Hendricks, President & Chief Executive Officer | ||
| Justine Hendricks 2024-25 Travel and hospitality expenses | ||
| Travis Asmundson, Executive Vice-President and Chief Information Officer | ||
| Travis Asmundson 2024-25 Travel and hospitality expenses | ||
| Darren Baccus, Executive Vice-President, Agri-Food, Alliances and FCC Capital | ||
| Darren Baccus 2024-25 Travel and hospitality expenses | ||
| Jean-Philippe Gervais, Executive Vice-President, Strategy and Impact | ||
| Jean-Philippe Gervais 2024-25 Travel and hospitality expenses | ||
| Todd Klink, Executive Vice-President and Chief Marketing Officer | ||
| Todd Klink 2024-25 Travel and hospitality expenses | ||
| Sameer Madhok, Executive Vice-President and Chief Risk Officer | ||
| Sameer Madhok 2024-25 Travel and hospitality expenses | ||
| Corinna Mitchell-Beaudin, Executive Vice-President and Chief Financial Officer | ||
| Corinna Mitchell-Beaudin 2024-25 Travel and hospitality expenses | ||
| Sophie Perreault, Executive Vice-President and Chief Operating Officer | Sophie Perreault 2024-25 Travel and hospitality expenses | |