The Resource Productivity and Recovery Authority (RPRA) has approved Stewardship Ontario’s addendum to the MHSW Wind Up Plan that outlines the process of returning residual funds to stewards once the program is in its final wind up phase in 2022.
New Ministerial direction received in December, 2019, directed Stewardship Ontario to return residual funds to stewards in proportion to stewards’ contribution to the funds for each MHSM category. RPRA approved the MHSW Wind Up Plan with a condition that Stewardship Ontario would revise sections of the plan that refer to the management of residual funds to be consistent with the Minister’s direction letter. After Stewardship Ontario submitted its proposed addendum in January, RPRA consulted on it with stakeholders before approving it in February.
Below is an overview of the approved residual funds addendum:
- Residual funds would be distributed to existing Stewardship Ontario stewards and ISP members who are in good standing.
- The surplus fund fee reduction methodology will be utilized to determine each steward’s share of residual funds in each material category.
- Stewardship Ontario will distribute residual funds directly to its registered stewards.
- Stewardship Ontario will disburse a lump sum payment to ISOs which will distribute residual funds to its individual ISP Members in accordance with the approved residual fund share formula.
- Residual fund payments will not be issued if stewards are entitled to less than $25.00.
As indicated in the residual funds addendum, Stewardship Ontario will endeavor to minimize the amount of residual funds left in the program following the completion of outstanding operational and financial obligations. Stewards will receive updated financial forecasts throughout the wind up process, including any adjustments to anticipated residual fund amounts.
If you have any questions, please contact us at consultation@stewardshipontario.ca.