Ministry 2002/03 Annual Service Plan Report -- Ministry of Finance

Performance Reporting — Continued

Core Business Area 3: Comprehensive, timely and transparent financial reporting

Goal/Objective: Meet statutory reporting and budgeting requirements and comply with GAAP

*Performance Measure: Full implementation of GAAP*
Rationale:	This measure monitors the phased implementation of the GAAP initiative among ministries and the broader public sector. Currently, British Columbia leads the provinces in the implementation of GAAP and entrenchment of full accrual accounting. The 2004/05 target of full compliance with the standard will be subject to the review and verification by the Office of the Auditor General. For the fiscal year 2001/02 there were three areas that did not comply with GAAP: inclusion of schools, universities, colleges and hospitals in the government reporting entity; expensed-based reporting; and, prepaid capital advances. One of these three, expense-based reporting, will be complied with for the 2002/03 Public Accounts and all will be implemented for the 2004/05 fiscal year.
Measure Status:	No change in the measure in Service Plan 2003/04 – 2005/06
2001/02 Baseline	2002/03 Target	2002/03 Actual	Variance	Achieved
Partial	Partial	Partial	0	Yes

*Performance Measure: Delivery date for annual Public Accounts*
Rationale:	This measure monitors the timely release of the Public Accounts. Prompt release supports greater transparency and accountability and ensures that the ministry adheres to its statutory reporting obligations. Early release of information on the province's fiscal and economic status also improves decision making within government and the business community.
Measure Status:	No change in the measure in Service Plan 2003/04 – 2005/06
2001/02 Baseline	2002/03 Target	2002/03 Actual	Variance	Achieved
August 31 (statutory)	July 15	July 11	Improved timeliness by 4 days	Yes

Goal/Objective: Provide a stable operating environment for the corporate financial system across government

*Performance Measure: Percentage of time the corporate financial system is available*
Rationale:	The Corporate Accounting System (CAS) initiative provides a suite of corporate financial applications to ministry clients. These clients require a stable and reliable system to effectively process their financial transactions, obtain crucial management and operational information, and make critical supplier payments. Any withdrawal of service or availability during the regularly scheduled hours of operation can impact the ability of ministries to deliver their services.
Measure Status:	Discontinued measure in Service Plan 2003/04 – 2005/06 The CAS Initiative has been transferred to Solutions BC, a component of the Ministry of Management Services. Accordingly the Ministry of Finance will no longer report upon the achievement of this performance measure. Information on Solutions BC is available at: http://www.solutionsbcsharedservices.gov.bc.ca/
2001/02 Baseline	2002/03 Target	2002/03 Actual	Variance	Achieved
95%	98%	99.85%	Beat target by 1.85%	Yes