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| MINISTRY OF FINANCE |
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| The mission of the Ministry of Finance is to develop a sustainable fiscal plan, to prudently manage government finances, and to create a sound policy and regulatory framework that supports the creation of a strong and vibrant economy. |
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| MINISTRY SUMMARY |
| ($000) |
| |
|
Estimates
2003/041 |
|
Estimates
2004/05 |
| VOTED APPROPRIATIONS |
| Vote 22 — Ministry Operations |
|
36,589 |
|
31,297 |
| Vote 23 — Public Sector Employers' Council |
|
14,812 |
|
14,693 |
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| OPERATING EXPENSE |
|
51,401 |
|
45,990 |
| |
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| PREPAID CAPITAL ADVANCES 2 |
|
— |
|
— |
| |
| |
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| CAPITAL EXPENDITURES 3 |
|
5,866 |
|
5,521 |
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| LOANS, INVESTMENTS AND OTHER REQUIREMENTS 4 |
|
— |
|
— |
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| REVENUE COLLECTED FOR, AND TRANSFERRED TO, OTHER ENTITIES 5 |
|
— |
|
— |
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| FULLTIME EQUIVALENT (FTE) EMPLOYMENT 6 |
|
553 |
|
514 |
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| NOTES |
| 1 |
|
For comparative purposes only, figures shown for 2003/04 expense, FTEs and capital expenditures have been restated to be consistent with the presentation of the 2004/05 Estimates. Schedule A presents a detailed reconciliation. |
| 2 |
|
Details of prepaid capital advances are presented in Schedule C. |
| 3 |
|
Details of capital expenditures are presented in Schedule D. |
| 4 |
|
Details of loans, investments and other requirements are presented in Schedule E. |
| 5 |
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Details of revenue collected for, and transferred to, other entities are presented in Schedule F. |
| 6 |
|
Details of FTEs are presented in Schedule G. |
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| OPERATING EXPENSE BY CORE BUSINESS |
| $000 |
| |
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Estimates
2003/04 |
|
Estimates
2004/05 |
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| VOTE 22 — MINISTRY OPERATIONS |
| This vote provides for ministry programs and operations described in the voted appropriations under the following five core business: Financial and Economic Performance and Analysis, Financial Governance, Accounting and Reporting, Treasury, Financial and Corporate Sector Services, and Executive and Support Services. |
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| FINANCIAL AND ECONOMIC PERFORMANCE AND ANALYSIS |
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| Voted Appropriation |
| Treasury Board Staff Operations |
|
6,482 |
|
5,946 |
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| Voted Appropriation Description: This sub-vote provides for the operations of Treasury Board Staff. Services include:financial, economic, revenue, capital, taxation and intergovernmental fiscal relations advice to government. This sub-vote also provides for management of the provincial government budget; production of various financial and economic documents, including the Estimates, Budget and Fiscal Plan; and operation and maintenance of financial and economic models to support decision-making within government. Costs are partially recovered from ministries, Crown corporations and parties external to government for services provided on their behalf. |
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| FINANCIAL GOVERNANCE, ACCOUNTING AND REPORTING |
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| Voted Appropriations |
| Comptroller General Operations |
|
6,673 |
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6,312 |
| Internal Audit and Advisory Services |
|
1 |
|
1 |
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|
6,674 |
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6,313 |
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| Voted Appropriations Description: This sub-vote provides for the operation of the office of the Comptroller General. Major responsibilities include:reporting on financial transactions, including ad hoc, monthly and quarterly financial reporting and Public Accounts; governance over financial management and procurement legislation, policy and procedures; analysis and advice on financial administration, accounting and procurement policy issues and process improvements; post-payment compliance and payment diversion; internal audit and management advisory services pertaining to internal financial and management controls; performance management, accountability, and risk management; special audit investigations; and pre- and post-implementation reviews of major information technology systems. Recoveries are received from ministries and Crown corporations for internal audit services, accounting analysis provided by Financial Reporting and Advisory Services and from the Unclaimed Property Special Account for administration costs. |
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| TREASURY |
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| Voted Appropriation |
| Provincial Treasury Operations |
|
1 |
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1 |
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| Voted Appropriation Description: This sub-vote provides for debt management for the government and its Crown corporations and agencies; support for corporate and project finance initiatives and for management of settlement operations; forecasting, reporting and analysis services relating to the provincial debt. Services are cost recovered from Crown corporations and agencies, other government ministries and other clients internal and external to government. This sub-vote also provides for banking and cash management services on a cost recovery basis to Banking/Cash Management Branch clients, including Crown corporations and the government. Services include contract negotiation and management; credit facilities; management of funds for the consolidated revenue fund; payment and revenue collection services; and direction and support to government clients for electronic banking and payment services. |
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| FINANCIAL AND CORPORATE SECTOR SERVICES |
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| Voted Appropriations |
Financial and Corporate Sector Policy |
|
964 |
|
922 |
| Financial Institutions Commission |
|
1 |
|
1 |
| Registries |
|
7,192 |
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3,313 |
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|
8,157 |
|
4,236 |
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| Voted Appropriations Description: This sub-vote provides for operation of the Financial Institutions Commission and the Credit Union Deposit Insurance Corporation. It provides for the administrative costs of regulating credit unions, trust companies, insurance companies, pension plans and captive insurance companies; administration of the Real Estate Act, the Mortgage Brokers Act, the Strata Property Act and related activities; and administrative costs of the Credit Union Deposit Insurance Fund, and related activities. This sub-vote also provides for the registration of all business entities, non-profit organizations and cooperatives that operate in British Columbia; maintenance of registries of security interests (liens) in personal property; the ownership and location of manufactured homes in the province; operation of a uniform Business Number hub; operation of OneStop Registration Services; and the operation of the Auditor Certification Board under the Company Act. This sub-vote also provides for policy analysis and advice to government respecting the legislative frameworks for the regulation of credit unions, trust companies, insurance companies, captive insurance companies, pension plans, mortgage brokers, real estate licensees and the real estate market, as well as the legislative frameworks applicable to companies, societies, partnerships, condominiums, the use of personal property as collateral for loans and various liens. Recoveries are received from parties internal and external to government. |
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| EXECUTIVE AND SUPPORT SERVICES |
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| Voted Appropriations |
| Minister's Office |
|
543 |
|
543 |
| Corporate Services |
|
14,732 |
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14,258 |
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|
15,275 |
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14,801 |
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| Voted Appropriations Description: This sub-vote provides for the office of the Minister of Finance, for executive and administrative support for the ministry, including financial, human resources, information and systems management, freedom of information and privacy services, and funding in support of Partnerships British Columbia. It provides for payment of travel expenses, including prescribed allowances to members of the Executive Council, Parliamentary Secretaries and related staff pursuant to Section 7 of the Legislative Assembly Allowance and Pensions Act. This sub-vote also provides for certain expenses incurred for the Office of the Premier; occupancy and related costs for the Executive Council and Intergovernmental Relations; and certain expenses for other offices. This sub-vote also provides support for Government House. Recoveries are received from parties internal and external to government for ministry services. |
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| VOTE 23 — PUBLIC SECTOR EMPLOYERS' COUNCIL |
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| This vote provides for programs and operations described in the voted appropriations under the core business Public Sector Employers' Council. |
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| PUBLIC SECTOR EMPLOYERS' COUNCIL |
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| Voted Appropriations |
| Public Sector Employers' Council |
|
1,939 |
|
1,939 |
| Employer Associations |
|
12,873 |
|
12,754 |
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|
14,812 |
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14,693 |
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| Voted Appropriations Description: This sub-vote provides for the operation of the Public Sector Employers' Council and the Council Secretariat, as established under the Public Sector Employers Act (PSEA), and includes salaries and remuneration of the secretariat staff, government's financial contributions to employers' associations established under the PSEA and related expenses. The council sets and coordinates strategic directions in human resource management and labour relations, and advises government with respect to labour relations, pensions and compensation-related issues in the public sector. Costs are partially recovered from pension boards. |
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