Restoration and Enhancement Funds:
The purpose of the two funds is to support activities in both countries that develop improved information for resource management, rehabilitate and restore marine and freshwater habitat, and enhance wild stock production through low technology techniques.
- The Northern Boundary and Transboundary Rivers Restoration and Enhancement Fund (Northern Fund)
- The Southern Boundary Restoration and Enhancement Fund (Southern Fund).
The United States agreed to capitalize the Northern and Southern funds in the amounts of US$75 million and US$65 million, respectively. In addition to the amounts contributed by the United States, Canada contributed $250,000 (CDN) to each of the two funds (total of $500,000 CDN).
Formal establishment and initial capitalization of the funds
The 1999 Agreement stipulates that "annual expenditures shall not exceed the annual earnings from the invested principal" of the funds, a provision that essentially makes them permanent endowment funds, subject only to continuation of the Pacific Salmon Treaty.
The U.S. legislation that appropriates monies to capitalize the funds contains the same basic provision, and further stipulates that "the Northern Fund and the Southern Fund shall be invested in interest bearing accounts, bonds, securities, or other investments in order to achieve the highest annual yield consistent with protecting the principal of each Fund."
To establish the two funds and effectuate their administration consistent with the 1999 Agreement and the U.S. legislation, the governments of Canada and the United States entered into trust agreements in late 1999. The trust agreements entrust the funds to the Pacific Salmon Commission (PSC), the bilateral entity established by the two countries in 1985 to implement the Pacific Salmon Treaty.
The terms of the 1999 Agreement and the U.S. implementing legislation provide that the Northern Fund and the Southern Fund will be administered by bilateral committees, each comprised of three Canadian and three U.S. members. The Northern Fund Committee and the Southern Fund Committee were formally established by the PSC in early 2000 and conforming bylaws adopted. The Fund Committees subsequently adopted Rules of Procedure to govern their internal organization.
To learn more about funding projects, the latest news, and media releases, please visit the news and announcements section.
Backgrounders and final reports of projects previously funded by the Northern and Southern Fund Committees are provided here.