To give you a sense of that, the operating costs for both SSHRC and NSERC are remarkably low. They tend to be in the 4% or under range. They operate very efficiently up to and including SSHRC's and NSERC's share of all their back office audit functions in their finance and corporate services, etc. Over the years the granting councils have worked to ensure that they can deliver their grants and contributions programming in a fairly lean manner.
On June 7th, 2016. See this statement in context.