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2002 Annual Report

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Canadian Blood Services

51. By Order dated June 19, 2001, the Courts approved the budget of Canadian Blood Services ("CBS") in the amount of $1,074,840.00 to account for additional resources attributed in Year 2 to the conduct of tracebacks. As a result, CBS cleared up much of the backlog of tracebacks.

52. Actual expenses incurred by CBS in Year 2 were $877,289.00. As at March 31, 2002, Royal Trust has made payments to CBS in the amount of $1,074,840.00 exclusive of GST, which is $197,551.00 over the actual incurred expenses.

53. As described in paragraph 17 above, the Joint Committee requested that Deloitte & Touche review the expenses incurred by CBS to March 31, 2002. The Report of the Cost Review of the expenses of CBS is attached as Schedule "E".

54. The efficient and effective conduct of tracebacks is a key component of the administration of the Plans. The Joint Committee anticipates that there will be less demand for tracebacks in Year 3 and that therefore CBS will require a lower budget. Attached hereto and marked as Schedule "O" is a copy of the proposed budget for CBS for the period April 1, 2002 to March 31, 2003. The budgeted amount is $399,762.98, to be paid in monthly instalments of $33,313.57, plus GST.

55. The Joint Committee recommends the following payment schedule for CBS in Year 3, in order that the Trust Fund may recover the overpayment from the past year:

i) CBS shall not receive any monthly payments from June 1, 2002 until August 31, 2002;

ii) The payment to CBS for September 2002 shall be $2,330.42 plus GST; and

iii) Thereafter, from October 1, 2002 until March 31, 2003, the monthly payments to CBS shall be in the amount of $33,313.57, plus GST.