Territorial Formula Financing (TFF) is an annual unconditional

transfer payment In macroeconomics and finance, a transfer payment (also called a government transfer or simply transfer) is a redistribution of income and wealth by means of the government making a payment, without goods or services being received in return. Th ...

from

Canada Canada is a country in North America. Its ten provinces and three territories extend from the Atlantic Ocean to the Pacific Ocean and northward into the Arctic Ocean, covering over , making it the world's second-largest country by to ...

federal government A federation (also known as a federal state) is a political entity characterized by a union of partially self-governing provinces, states, or other regions under a central federal government ( federalism). In a federation, the self-gover ...

to the three territorial governments of

Yukon Yukon (; ; formerly called Yukon Territory and also referred to as the Yukon) is the smallest and westernmost of Canada's three territories. It also is the second-least populated province or territory in Canada, with a population of 43,964 as ...

, the

Northwest Territories The Northwest Territories (abbreviated ''NT'' or ''NWT''; french: Territoires du Nord-Ouest, formerly ''North-Western Territory'' and ''North-West Territories'' and namely shortened as ''Northwest Territory'') is a federal territory of Canada. ...

, and Nunavut to support the provision of

public services A public service is any service intended to address specific needs pertaining to the aggregate members of a community. Public services are available to people within a government jurisdiction as provided directly through public sector agencies ...

. A significant portion of the financial resources of the territorial governments comes from the Canadian federal government through the TFF grant. For instance, during the 2005–06 fiscal year, TFF was approximately 61 per cent of

's, 66 per cent of the

' and 81 per cent of Nunavut's total financial resources. In the 2023-24

fiscal year A fiscal year (or financial year, or sometimes budget year) is used in government accounting, which varies between countries, and for budget purposes. It is also used for financial reporting by businesses and other organizations. Laws in many ...

, Yukon will receive $1.252 billion ($28,208 per capita), the Northwest Territories $1,611 billion ($37,073 per capita) and Nunavut $1.971 billion ($47,520 per capita) for a total of $4.18 billion.

References

External links

Territorial Formula Financing - Department of Finance Canada
Government finances in Canada {{Canada-gov-stub