Appendix 3: Supplementary Performance Information

The Ministry of Finance remains committed to reporting on our progress in achieving the intended results detailed in our service plan. In identifying specific performance measures the ministry has worked to ensure that the data is accurate, comprehensive, timely and transparent. While the performance information is selected with these attributes in mind several limitations can exist including issues of:

• Frequency: A number of data sources particularly those external to the ministry can offer independent benchmark information. However, these sources may not be available on the same reporting cycle as required for the service plan and service report. An estimate based on the historical trend for the previous period is provided for those selected measures where the actual figures are not immediately available.

— Example: Debt service costs (Provincial ranking — Moody's)

• Consistency: Data collected may vary considerably due to the influence of a number of factors that are beyond the ministry's control. In these instances readers can receive a more accurate impression of organizational performance by looking at the ministry's performance as a trend over several years.

— Example: Potential average annual benefits realized from utilizing a risk-based approach for post-payment monitoring of expenditures and by management implementing Internal Audit and Advisory Services recommendations

• Cost-effectiveness: Some measures cannot be collected cost-effectively relative to the value that they would provide to improved decision-making or accountability. These instances are monitored and efforts are made to adjust future business practices to assist in their collection.

As part of the Ministry of Finance's commitment to transparency and accountability detailed performance measure methodologies have been provided which explore the rationale for each measure as well as data sources, calculations and limitations and other key information. The complete performance methodology is available at: www.fin.gov.bc.ca/serviceplanreport/2003-04/pmeth.htm