Mostly but not at the boundaries. Telefilm ARR (5 March 2024): audited final certified activity cost statement when the budget is 'in excess of $500,000'; review engagement for 'in excess of $250,000' up to and including $500,000; uncertified final cost report with a declaration at '$250,000' or le…

Mostly but not at the boundaries. Telefilm ARR (5 March 2024): audited final certified activity cost statement when the budget is 'in excess of $500,000'; review engagement for 'in excess of $250,000' up to and including $500,000; uncertified final cost report with a declaration at '$250,000' or less [telefilm ARR s2.1]. CMF Appendix B (ARR chapter, April 2026): audit at a budget that 'totals $500,000 or greater'; review at '$250,000 or greater but less than $500,000'; uncertified FCR with producer declaration below $250,000 [cmf appendix b s2.1]. CAVCO (CPTC guidelines): an audited schedule of production costs at Part B for productions with a final cost of '$500,000 or more', measured on the Canadian production company's costs for treaty co-productions [cavco s7.09.01]. So a project of exactly $500,000 needs a review under Telefilm but an audit under the CMF and (if the final cost is $500,000) CAVCO; a project of exactly $250,000 needs only a declaration under Telefilm but a review under the CMF. Telefilm and the CMF also keep the right to require an audit at any budget level. (Reading of the boundary case is the collector's inference.) Rationale: The three documents use different wording at the boundaries ('in excess of' versus 'or greater' / 'or more'), and the first two measure budget while CAVCO measures final cost. Appendix B says the Guidelines prevail over Appendix B in a conflict, but does not say how it relates to Telefilm's own ARR. Counterevidence: A project financed by only one body is unaffected; amounts equal to a threshold to the dollar are rare, so the practical impact may be small. No source addresses a project funded by several bodies. Uncertainty: Which instrument governs a co-funded project is not stated in the documents read; see question w2-t04-Q03. Not legal advice. Sources: - https://telefilm.ca/wp-content/uploads/2024/03/accounting-reporting-requirements-2024.pdf - https://cmf-fmc.ca/document/appendix-b-business-policies - https://www.canada.ca/en/canadian-heritage/services/funding/cavco-tax-credits/canadian-film-video-production/application-guidelines.html Checked: 2026-10-17

{
  "context": "Where do Telefilm, the Canada Media Fund and CAVCO set the audit, review and declaration thresholds for final costs, and do they agree?"
}