2002/03 Annual Service Plan Report Ministry of Finance

Appendices

List of Crowns, Agencies, Boards and Commissions

• Accounting Policy Advisory Committee
• Auditor Certification Board
• British Columbia Investment Management Corporation
• Financial Institutions Commission
• Insurance Corporation of British Columbia
• Insurance Council of British Columbia
• Partnerships British Columbia
• Public Sector Employers' Council
• Real Estate Council of British Columbia
• Real Estate Foundation

List of Legislation Administered by the Ministry of Finance

• Auditor General Act
• Balanced Budget and Ministerial Accountability Act
• Bonding Act
• Budget Transparency and Accountability Act
• Business Corporations Act
• Capital Financing Authority Repeal and Debt Restructuring Act
• Company Act (except s. 323)
• Company Clauses Act
• Constitution Act, ss. 25 to 27
• Cooperative Association Act
• Credit Union Incorporation Act
• Creditor Assistance Act
• Financial Administration Act (except the powers and duties re: holding, administration and disposal of shares of Duke Point Development Ltd. owned by the government)
• Financial Information Act
• Financial Institutions Act
• Industrial Development Act
• Insurance (Captive Company) Act
• Insurance (Marine) Act
• Insurance Act
• International Financial Business Act
• Manufactured Home Act
• Medical and Health Care Services Special Account Act
• Ministry of Consumer and Corporate Affairs Act, ss. 3, 4 (a) in relation to corporate affairs
• Ministry of Intergovernmental Relations Act, s. 3
• Miscellaneous Registrations, 1992 Act
• Mortgage Brokers Act
• Pacific North Coast Native Cooperative Act
• Partnership Act
• Pension Agreement Act
• Pension Fund Societies Act
• Personal Property Security Act
• Probate Fee Act
• Public Education Labour Relations Act
• Public Education Support Staff Collective Bargaining Assistance Act
• Public Sector Employers Act
• Public Sector Pension Plans Act (except Part 2)
• Public Works Agreement Act
• Real Estate Act
• Repairers Lien Act
• Society Act
• Special Accounts Appropriation and Control Act (except ss. 4, 8 and 9)
• Strata Property Act
• Tugboat Worker Lien Act
• Unclaimed Property Act
• Warehouse Lien Act
• Warehouse Receipt Act
• Woodworker Lien Act

Linkage of Core Business Areas to Ministry Programs

Ministry Executive

Provides the ministry with executive and administrative support, and policy analysis and advice on financial sector issues, corporate sector issues and legislation.

Financial and Corporate Sector Policy Branch

This branch provides the government with policy analysis and advice to support the legislative frameworks governing the regulation of credit unions, trust companies, insurance companies, and the retailing of real estate, insurance, and mortgages in British Columbia. The branch also provides analysis and advice to support the legislative frameworks governing companies, societies, cooperatives, partnerships and condominiums, the use of personal property as collateral, and the imposition of liens on personal property.

The branch coordinates the ministry's non-budget legislation and its participation in the government's deregulation initiative, as well as coordination of appointments to the various agencies, board and commissions that report to the Minister of Finance.

Treasury Board Staff

Under the direction of Treasury Board and the Minister of Finance, TBS works with ministries, Crown corporations and agencies to develop, implement and monitor the province's budget and three-year fiscal plan. TBS monitors risks and opportunities throughout the year and recommends alternative fiscal management strategies to Treasury Board as needed.

TBS also monitors and reports on government's fiscal performance; produces quarterly reports and the budget consultation document; and provides analysis and advice on the financial, economic, taxation and intergovernmental fiscal relations issues presented to the Minister of Finance, Treasury Board, Cabinet, and to government caucus and cabinet committees.

Office of the Comptroller General

The OCG is responsible for defining and monitoring the government's financial management framework, including the accounting and financial policies, auditing and required internal controls, and for preparing the government's Public Accounts. It also ensures the main financial system for government and the government's assets and liabilities are managed in ways that appropriately mitigate risks.

Provincial Treasury

This division manages the borrowing, financing and cash flow requirements for the Province of British Columbia. It also provides expert advice on e-banking services and project finance and corporate restructuring initiatives across the broader public sector.

Registries

This arm of the ministry facilitates the creation and registration of all business entities, non-profit organizations and cooperatives in British Columbia. It maintains registries of security interests (liens) in personal property and of the ownership and location of manufactured homes in the province. It also provides for the operation of the Auditor Certification Board under the Company Act.

Insurance and Risk Management Branch

This branch is responsible for developing and operating comprehensive risk management programs, designed to minimize the risks associated with British Columbia's public sector programs, operations and assets. Risk management includes risk transfer, risk financing, risk mitigation and claims/litigation management.

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. This office was transferred to the Vancouver Foundation effective April 1, 2003.

Financial Institutions Commission

The Financial Institutions Commission is an agency of the provincial government that administers 11 statutes providing regulatory rules for the protection of the public. These regulatory rules are designed to protect depositors and policyholders against insolvency of a trust company, credit union or insurance company; safeguard consumers against improper market conduct in the financial services and real estate industries; and insure credit union deposits and non-equity shares.

Public Sector Employers' Council (PSEC)

PSEC coordinates labour relations policies and practices to foster an effective, efficient public sector. Chaired by the Minister of Finance, the council includes eight ministers or deputy ministers, the Commissioner of the Public Service, and one representative from each of the six public sector employers' associations. The council is supported by the PSEC Secretariat, which ensures effective working relationships with key partners such as Treasury Board Staff, line ministries and other public sector employers.

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 monthly payments calculated on the basis of family income and number of children in the family.