Fellowship Award funds are administered by the university. The Fellowship Award consists of payments of up to $90,000 per year that are sent to the university, for disbursement to the recipient as follows:

  • a research grant of $50,000 to be paid to the recipient as a lump sum, as soon as the funds are received from the Bank of Canada
  • an annual research expense allowance of up to $40,000, for expenses submitted to and approved by the recipient’s university, including those for:
    • the acquisition, maintenance and operation of research equipment
    • the acquisition of data
    • travel to scholarly conferences to present research
    • workshops held relating to research
    • computing, publication, material and supplies
    • research assistants

The university must also provide an annual, signed, calendar-year-end financial statement to the Bank of Canada on the status of the recipient’s funds, by the end of January. The Bank pays the university an annual amount of $5,000 to defray its administrative costs.