CANEX Proceeds
Proceeds from CANEX operations are distributed to Base, Wing and Unit Funds to be used by DND to finance a wide variety of social and recreational programs for the benefit of military personnel and their dependents. Physical fitness, sports and recreational programs are among the main recipients of CANEX proceeds; examples of these programs include skating, curling and swimming, as well as on Base Scouts and Guide programs, libraries, hobbyist activities and more.
CANEX proceeds also help support military financial services offered under Personal Support Programs (PSP), such as low cost loans and grants to CF members and their families. These funds are further used to financially assist Bases/Wings/Units through grants from Canadian Forces Central Fund for special projects, which are not subject to public funding.
In addition to funding Moral & Welfare programs, the CANEX earnings are used to fund Capital Investments i.e. build new stores or renovate existing facilities.
Read more about this topic: Canadian Forces Exchange System
Famous quotes containing the word proceeds:
“Till having failed at hugger-mugger farming
He burned his house down for the fire insurance
And spent the proceeds on a telescope
To satisfy a lifelong curiosity
About our place among the infinities.”
—Robert Frost (1874–1963)