All funding applications have to be in by December 15th. The fiscal year begins April 1st. At that time, we get 25% of the previous year's amount so that we can operate for the first few months. It depends on the province, but the core funding for the current year usually arrives in July and often in August. This year, it was February when I received the project funding for the current year, which ends March 31st. I believe that my colleagues are in the same situation. The funding for a project that was supposed to start in September came only in February of this year. But the project has to be finished by March 31st.
On May 1st, 2008. See this statement in context.