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

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

Objective	Strategy	Responsible Core Business Area
Balance provincial budget annually beginning in 2004/05	• Implement three-year planning framework for all ministries
	• Restructure policy and advisory resources to provide targeted advice on strategic risks and opportunities
Effective cash and debt management	• Provide comprehensive support for credit rating analysis and expand investor relations activities
	• Develop models and systems to maximize investment returns on surplus cash and to minimize borrowing costs and requirements
	• Utilize technological advancements (e.g., e-banking services) to create financial and administrative efficiencies and savings within ministries.
Effective management of public-sector labour relations and human resource strategies	• Develop a framework for executive compensation and for bargaining mandates that incorporate fiscal goals, policy, program decisions, and labour market considerations
	• Develop a long-term strategy for effective management of labour relations, including related performance measures
	• Support a strategy for reducing shortages of critical skilled occupations in the public sector

 

Objective	Performance Measure	Base 2002/03	Target
			2003/04	2004/05	2005/06
Balance provincial budget annually beginning in 2004/05	• Achieve annual targets for provincial budget	$4.4 B deficit	To be announced February 18, 2003	Balanced Budget	Balanced Budget
Effective cash and debt management	• Debt to GDP ratio (Provincial ranking — Moody’s)	2nd Lowest	In the Lowest 3	In the Lowest 3	In the Lowest 3
	• Debt service costs (Provincial ranking — Moody’s)	4th Lowest	2nd Lowest	2nd Lowest	2nd Lowest
	• Provincial credit rating (Moody’s)	Aa2	Aa2	Aa2	Aa2
Effective management of public-sector labour relations and human resource strategies	• Compensation cost changes over 2002/03 compensation base (excluding previously existing contracts)	$17.43 Billion	0	0	TBD
	• Days lost due to labour disruption in the BC Public Sector	Cdn. Avg. days lost	+/- 10% of Avg.	+/- 10% of Avg.	+/- 10% of Avg.