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Incredibly, there is still 6 million dollars ($6,000,000) in the ten million dollar IPDF that has not yet been allocated. Personnel at the OMDC are mystified as to why there have been fewer applications than expected. In December of 2009 when the IPDF was announced, the feeling was that the money would vapourize in a couple of months.

To boost the success of the fund, the OMDC has relaxed a few provisions dealing primarily with submitting final (as opposed to interim) applications. In essence, the OMDC will accept by July 31 final applications from applicants whose year end falls AFTER July 31 but before January 1, 2011. The significance of this amendment is that internal costs that are not recognized until the financial statements of an applicant are produced (at the fiscal year end) can now be claimed, once those financial statements are submitted.

There is some thought at the OMDC that there may be a flood of applications in the next few weeks as many companies have a March 31 year end. Either way, if you haven’t got your application in yet and have not thought it worthwhile, reconsider. There may be money with your name on it sitting at the OMDC!