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2003/04 – 2005/06 SERVICE PLAN
Ministry of Finance

Appendix: Changes to Performance Measures and Performance Targets

The ministry has made several changes to the performance measures and targets included in last year’s Service Plan 2002/03 – 2004/05. Changes include the addition of new measures as well as the discontinuation or revision of existing measures and the adjustment of targets to reflect the most recent information available. A brief description of the nature and rationale for each of the changes undertaken is provided below:

Performance Measures

New Performance Measures
Measure	Rationale
Compensation cost changes over 2002/03 compensation base (excluding previously existing contracts)	An indicator of the effective management of public sector compensation costs
Days lost due to labour disruption in the BC Public Sector	An indicator of the provincial labour market environment
Per cent annual growth in business registrations	An indicator of British Columbia’s business development climate
Potential average annual benefits realized from utilizing a risk-based approach for post-payment monitoring of expenditures and by management implementing Internal Audit and Advisory Services recommendations	An indicator of the financial impact of these Office of the Comptroller General initiatives and recommendations
Stakeholders’ satisfaction with the policy framework for financial management	An indicator of service quality for financial management frameworks amongst key stakeholder groups
Alignment of Estimates, Budgets, and core business areas	An indicator of the level of integration between organizational performance planning and performance budgeting
Percentage of staff satisfied that leadership learning and development strategies and/or opportunities are available	An indicator of staff development and organizational health
Percentage of staff with a current Employee Performance and Development Plan (EPDP)	An indicator of effective human resource management, staff development, and organizational alignment
Percentage of staff who agree that learning and development opportunities are accessible	An indicator of staff development and organizational health

Discontinued Performance Measures
Measure	Rationale
Number of P3/ASD projects initiated with financing in place	Partnerships British Columbia has been created so the measure is no longer relevant to the Ministry
Rank relative to other provinces of the growth of real GDP per capita	Measure is methodologically limited. Statistics Canada’s results are by fiscal year; accordingly, current year figures are estimates based upon an average of independent forecasters’ GDP growth rates and Statistics Canada’s population projections.
Percentage of time the corporate financial system is available	Responsibility for the Corporate Accounting System has been transferred to the Shared Services Agency

Revised Performance Measures
Measure	Rationale
Number of regulatory requirements	The regulatory requirements associated with ICBC have not been included in the measure given that ICBC will provide full disclosure in their agency Service Plan. Segregation of the regulatory requirements by the responsible reporting entity improves the transparency and accountability of the measure.
Provincial credit rating (Standard & Poor’s)	The source has been changed to Moody’s Investors Service because inter-provincial comparators are more similar in definition to the measures that the province and the Auditor General use. In addition, Moody’s publishes this data early each summer, which assists with more timely reporting of results.
Debt to GDP ratio (DBRS)	See above re: Moody’s Investors Service
Debt service costs (cents per revenue dollar) (DBRS)	See above re: Moody’s Investors Service
Incremental savings from self-insurance	Annual savings may be subject to significant fluctuations. Adoption of a 5 year rolling average will provide more accurate trendline reporting

Performance Targets

Revised Performance Targets
Measure	Target Variance		Revision Rationale
Measure	2003/04	2004/05	Revision Rationale
Percentage of company incorporations and registrations filed electronically	Decreased by 5 percentage points to 85%	Decreased by 10 percentage points to 90%	Achievement of the 100% completion target remains dependent upon client access to, and acceptance of, electronic registrations. At this time a small number of clients are not expected to shift to the adoption of electronic registrations by 2004/05.
Percentage of responses to ministerial correspondence completed within two weeks	Decreased by 10 percentage points to 70%	No change	The 2001/02 baseline of 60% included in the Service Plan 2002/03 was not accurate. Subsequent analysis determined that the baseline for 2001/02 was 15%.