Thank you very much, Mr. Chairman.
As well, I would ask that my statement be shown as read into the record.
As you mentioned, Mr. Chairman, I do have with me today Mr. John Morgan, the assistant comptroller general, financial management and analysis.
The Treasury Board approved a new transfer payment policy and related directive recently which took effect on October 1, 2008. With this directive we have specifically addressed transfers to other orders of government.
Mr. Chairman, we've also worked closely with the Department of Finance and other government departments to review the accounting of major transfer payments to ensure we have properly followed appropriate accounting policies.
Thank you, Mr. Chairman. I look forward to your questions.