Core Business Areas
The ministry has nine core business areas each of which has specific responsibilities for the provision of programs and services to achieve its goals and objectives. The Financial and Corporate Sector Services core business has been divided into two core businesses: 1) Corporate and Personal Property Registries and 2) Strategic and Corporate Policy. The revised structure will provide the ministry with increased capacity to examine several of the key corporate and strategic issues facing the ministry and government including competitiveness, effective regulation and building a new relationship with First Nations.
1. Crown Agencies Secretariat
Develops and implements a framework for government’s management of its crown corporations and provides advice, information and services to enhance good governance practices and accountability for results. This area is supported by $1.5 million and 10 FTEs.
2. Treasury Board Staff
Provides fiscal and economic policy analysis and advice that supports the achievement of balanced budgets, an affordable debt strategy that incorporates operating and capital needs to help government achieve the five great goals, a credible and well managed fiscal plan, and sustains cost-effective public services. This area is supported by $5.5 million and 55 FTEs.
3. Financial Governance, Accounting and Reporting
Assures the accuracy and integrity of provincial public sector financial reporting and maintains a framework of best practices, including internal audit, for financial and management practices. This area is led by the Office of the Comptroller General and is supported by $6.8 million and 134 FTEs.
4. Treasury
Provides British Columbians with the benefits of cost-effective cash and debt management and banking services, resulting in lower expenditures and improved online government services through electronic banking support. Recoveries are from ministries, government bodies and other organizations receiving those services. This area is resourced through a fully cost recovered model with the support of 74 FTEs.
5. Corporate and Personal Property Registries
Provides British Columbians with improved online government services through electronic registries services, including the Corporate Registry, OneStop Business Registry, Personal Property Registry, and Manufactured Home Registry. This area also facilitates the creation and registration of all business entities, non-profit societies and co-operatives that operate in British Columbia. This area is led by Registries and resourced through a fully cost recovered model with the support of 50 FTEs.
6. Strategic and Corporate Policy
Provides effective financial and corporate sector regulation, competitive tax policy, sound and equitable federal-provincial fiscal relations, and contributes to creating a new relationship with First Nations. This includes providing analysis and advice on federal provincial fiscal relations, developing the fiscal framework for a new relationship with First Nations, developing the legislative and policy framework for regulating financial institutions, improving the fairness and competitiveness of the provincial tax system and coordinating the ministry’s non-budget legislative process. This area is led by Strategic and Corporate Policy and Financial Institutions Commission and is supported by $3.5 million and 133 FTEs.
7. Public Sector Employers’ Council
Fosters an efficient and effective workforce through the coordination of public sector labour relations policies and practices and establishes an affordable mandate for public sector compensation and ensures compliance with it. This area is led by the Public Sector Employers’ Council and affiliated Employers Associations and is supported by $15 million and 13 FTEs.
8. Executive and Support Services
Provides strategic leadership and corporate support services that contribute to the success of all core business areas. This area is supported by $16.6 million and 154 FTEs.
9. Risk Management
Reduces accidental and business losses in the provincial public sector through the development of comprehensive risk management and self-insurance programs. This area is led by Risk Management Branch, which recovers all of its expenses from clients, and is supported by 47 FTEs.
To learn more about the ministry and its services, please visit the Ministry of Finance website at http://www.gov.bc.ca/fin.
