Financial Management Commission Terms of Reference

The Commission will report to the Minister of Finance by June 28, 2002. The following will be considered:

• The progress the province has made on its financial status since 1993.
  
  
• The financial position of the province at March 31, 2002 including forecasts of provincial revenues and expenditures.
  
  
• Review current accounting principles used to prepare the province's financial statements, quarterly updates and fiscal plans and report on the transparency, timeliness and ease of use.
  
  
• Review the government's fiscal planning policies and strategies including, but not limited to:
  • The Fiscal Responsibility Act (FRA) and its objectives
  • Impacts of public sector salaries on provincial expenditures
  • Capital expenditure accounting and financing (including the use of "public private partnerships")
  • All government owned and controlled corporations, funds and agencies including the overall fiscal planning and strategy of the Alberta Heritage Savings Trust Fund
  • Any other provincial revenue, expenditure, asset or liability that the Commission may deem relevant as a result of information brought to its attention.

The Commission may also review and provide advice on areas where government may be able to improve its effectiveness and efficiencies as it relates to the cost of providing services.

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• News Release:  Financial Management Commission to review province's fiscal framework
• Backgrounder:  Financial Management Commission Members

For media inquiries, please contact:

Ed Greenberg Alberta Finance Communications (780) 427-5364 (780) 718-5699 (cellular)