|Expenditure Category||Expenditures for the year ended||Variance|
|March 31, 2018||March 31, 2017|
|Travel: CDIC Employees||921||869||52|
|Travel: Non-CDIC Employees||11||64||(53)|
|Total Travel, Hospitality and Conference Fees||1,068||1,000||68|
Significant variances compared with previous financial year
This section provides a brief explanation of significant variances from the previous year’s annual expenditures for each category.
Travel: CDIC Employees
Compared with the fiscal year ended March 31, 2017, travel expenditures for CDIC employees increased primarily due to core mandate activities in support of program delivery, including:
- preparedness activities
- engagement activities with key international stakeholders
Travel: Non-CDIC Employees
Compared with the fiscal year ended March 31, 2017, travel expenditures for non-CDIC employees decreased primarily due to a reduction of core mandate activities being performed by external consultants.
Compared with the fiscal year ended March 31, 2017, CDIC hospitality expenditures increased mainly due to costs incurred to host a biennial CDIC conference related to deposit insurance.
Compared with the fiscal year ended March 31, 2017, the conference fees expenditure variance is mainly due to increased participation in professional development workshops during the year.