The provincial government is launching a review of financial information submitted by specific Crown corporations the broader schools, universities, colleges and health sector.
It includes the BC Lottery Corporation, BC Hydro, ICBC and the Liquor Distribution Branch and BC Housing Management Commission (including Provincial Rental Housing Corporation).
The review is to be completed in time for the NDP’s budget early next year.
Independent consultants have been contracted to help assess the quality of financial information built into the baseline assumptions in the budget development process.
The goal of the review is to assess the information, evaluate risks and identify options that will assist the Province with developing, monitoring and managing to its overall fiscal plan targets.
Finance Minister Carole James says the review will help inform the decisions the government needs to make as it works to build Budget 2018.
“My expectation is that the review will give government a better picture of the risks, finances and fiscal forecasts of significant Crown corporations and SUCH sector entities, so that we foster long-term fiscal sustainability in planning and developing our budgets and decisions. Every additional dollar that is carefully managed can be used to help make life more affordable for people, invest in services and build a strong, sustainable economy.”