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

Goals, Objectives, Strategies,
Core Business Areas and
Performance Measures

This section details the objectives and related strategies the ministry will pursue over the next three years as we work toward the realization of our five goals. Individual objectives and strategies have also been linked directly to the core business areas responsible and accountable for the delivery of the various initiatives.

The ministry has also selected 21 performance measures and related three-year targets that will allow for an ongoing evaluation of our performance against expected results. Collectively these performance measures explore the outcome of our programs and the efficiency of our activities.

We remain committed to measuring the impact of our programs. Some of the selected performance measures, however, are also influenced by factors beyond the ministry's direct control (e.g., the level of GDP). In addition, the development and implementation of new systems to replace current manual processes will need to be carefully managed to ensure we meet our targets (e.g., electronic delivery of registry services). Despite these limitations, we are confident a comprehensive measurement system that emphasizes outcomes will improve our organizational performance and ensure appropriate accountability to all British Columbians.

Goal 1: Implementing government's three-year fiscal plan and balancing the provincial budget beginning in 2004/05

Goal 2: Creating a tax and regulatory climate that stimulates economic growth

Goal 3: Effective and efficient financial and risk management

Goal 4: Comprehensive, timely and transparent financial and performance planning and reporting

Goal 5: A progressive, innovative and knowledgeable workforce

Other Program Initiatives

The ministry also supports several other initiatives including:

BC Family Bonus:

The BC Family Bonus Program is a provincial personal income tax measure administered through the federal Canada Child Tax Benefit system. The program provides low-income families with children with monthly payments calculated on the basis of family income and number of children in the family.

Seismic Mitigation:

The Seismic Mitigation Program provides assistance to public agencies (school districts, health authorities, universities, colleges, institutes, BC Buildings Corporation, and BC Housing Management Commission) to improve the seismic safety of existing and future public buildings. The pilot project will end in 2002 / 03; future requirements will be funded within the established annual operating and capital budgets for each agency.

Unclaimed Properties:

The Unclaimed Property Office assists the public in locating and recovering their unclaimed financial property from both government and non-government bodies in accordance with British Columbia's Unclaimed Property Act (UPA).

The ministry is currently exploring alternative service delivery models to divest itself of the unclaimed property program in keeping with the government focus upon core business activities.

The Ministry is also responsible for:

• Vote 41 — Management of Public Funds and Debt (debt servicing)
• Vote 42 — Contingencies (all ministries) and New Programs
• Vote 43 — Government Restructuring (all ministries)