MANITOBA FINANCE MINISTERIAL BRIEFING APRIL 2016 · 2019-01-21 · Provincial Relations Branch, and Francophone Affairs Secretariat. TBS will provide separate briefing material to

MANITOBA FINANCE MINISTERIAL BRIEFING APRIL 2016

INDEX

1. BRIEFING SCHEDULE

2. ORGANIZATION

a. Department Responsibilities

b. Organizational Structure

c. Organization Chart

3. STRATEGIC OVERVIEW

a. Strategic Priorities

b. Financial Overview

c. Policy/Financial Pressures

d. Community Contacts

e. Statutory Responsibilities

f. Scheduled Events

g. Acronyms

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Minister of Finance – Proposed Briefing Schedule

Purpose: To provide the Minister of Finance and his staff with a general overview of the department, identify key issues for the department, and discuss priorities that will require immediate attention.

1. Departmental Overview and current issues (DM Finance)

2. Update on Departmental estimates, staffing, expenditure situation and projections (EFO)

3. Treasury Division

4. Taxation, Economic and Intergovernmental Fiscal Research (FRD)

5. Taxation Administration (Taxation Division)

6. Comptroller Division Issues

7. Manitoba Financial Services Agency (SOA)

8. Central Services (Associate DM - Central Services, with Secretary TBS and DM Finance)

a. Business Transformation and Technology b. Accommodation Services c. Procurement Services Branch d. VEMA, MDA and MERLIN (SOAs)

9. Public Utilities Board

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DEPARTMENT OF FINANCE MINISTERIAL BRIEFING APRIL 2016

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DEPARTMENT OF FINANCE RESPONSIBILITIES

This note provides a summary of the duties of the Department of Finance. Treasury Board Secretariat will provide the Minister with a separate briefing. RESPONSIBILITIES: The Minister of Finance and the department are responsible for the following:

· preparing the annual Provincial Budget;

· management and control of government expenditures and revenues and the evaluation of government programs;

· providing policy direction on matters relating to financial management and administration and ensuring appropriate government-wide management practices and systems;

· ensuring accountability for the delivery of government programs;

· maintaining the core government accounting and financial reporting systems, and the preparation of the annual Public Accounts, fiscal updates and other reports which show the financial condition of the entire government reporting entity;

· managing daily cash requirements, the public debt, the investment of public money, and of loans and advances made, and guarantees given, by the government;

· analyzing and appraising the economic situation and prospects in Manitoba in co-operation with other ministries as appropriate;

· advising on fiscal and other economic policies and measures including taxation;

· representing the province in negotiations and participating in meetings related to finance, taxation and economic development;

· managing the province's financial assets and liabilities;

· insuring government assets and managing risk;

· delivering a centralized corporate information and communication technology environment and support services;

· providing centralized corporate procurement services to government and agencies; and

· providing corporate accommodation services, including strategic planning and management of capital projects.

The department manages strategic, financial and operational risks at a corporate level so that the value government obtains for money expended, and for revenues owing and received, is optimized.

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The Department of Finance vision and mission is as follows: Department Vision Statement: A dynamic and innovative organization that supports a strong and growing province. Department Mission Statement: Implementing and managing effective financial, fiscal and economic policies, practices and services for Manitoba and its citizens.

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DEPARTMENT OF FINANCE ORGANIZATIONAL STRUCTURE This note provides an overview of the organizational structure of the department including its Special Operating Agencies, key area contacts and staff biographies in Appendix A. ORGANIZATION OVERVIEW: The department is comprised of six operating divisions, four Special Operating Agencies (SOAs), the Insurance and Risk Management Branch (reporting directly to the Deputy Minister), the Tax Appeals Commission, the Independent Administrator and the Public Utilities Board (PUB). In fall 2015 the department incorporated the Central Services Division (CSD) to its portfolio. This move consolidated three central offices (Accommodation Services, Business Transformation and Technology, and Procurement Services) and three SOAs (Materials Distribution Agency - MDA, Vehicle and Equipment Management Agency - VEMA, and Manitoba Education, Research and Learning Information Networks - MERLIN) making it the sixth division in the department. Also part of the financial structure is Treasury Board Secretariat (TBS), Federal-Provincial Relations Branch, and Francophone Affairs Secretariat. TBS will provide separate briefing material to the Minister, and the latter two both report directly to the Premier. Jim Hrichishen, Deputy Minister Operating Divisions: The Corporate Services Division provides executive administration, planning and management of departmental policies and programs; provides government/policy support to the Manitoba Financial Services Agency (SOA); co-ordinates policy and communication; and provides shared financial, administrative and information technology management services. This division includes the Deputy Minister of Finance, provides Executive Support and advice to the Minister on matters related to the department, the Tax Appeals Commission and the Independent Administrator. Ilana Dadds, Assistant Deputy Minister (ADM) Chester Wojciechowski, Executive Financial Officer (EFO) The Treasury Division manages and administers the cash resources, borrowing programs, and all investment and debt management activities of the government. It further manages the borrowing programs and investment activities for all of its Crown corporations and government agencies. The Treasury Division also assists in the financing of municipalities, schools and hospitals and ensures that such financing is arranged. Gary Steski, Assistant Deputy Minister (ADM)

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The Comptroller Division establishes and fosters a corporate comptrollership function across government that includes the development and operation of financial and management systems in support of legislative and governmental decision-making, service delivery effectiveness and accountability requirements. Aurel Tess, Provincial Comptroller (ADM) The Taxation Division administers the provincial taxation acts and ensures proper revenues are collected as provided in the acts. This includes the administration, collection, processing and reporting of taxation revenues, as well as the provision of tax expertise to government, businesses collecting taxes, and taxpayers. The division also investigates and audits taxpayers to ensure compliance. Barry Draward, Assistant Deputy Minister (ADM) Taxation, Economic and Intergovernmental Fiscal Research Division provides research and technical and analytical support in respect of national and provincial fiscal and economic matters and intergovernmental relations. Administers fiscal arrangements and tax collection agreements with the federal government, administers tax credit programs with the federal government and municipalities, and provides government-wide analytical support to working groups. The Federal-Provincial Relations Branch of the Division reports to the Deputy Minister of Federal-Provincial Relations, and provides policy support to the Premier on intergovernmental policy matters. Richard Groen, Assistant Deputy Minister (ADM) The Insurance and Risk Management branch provides centralized insurance and risk management services to government departments and agencies, including most Crown corporations. James (Jim) Swanson, Director Central Services Division provides a wide range of centralized support services to government departments and agencies by: providing corporate accommodation services, including strategic planning and management of capital projects; providing centralized corporate procurement services to government; delivering a centralized corporate information and communication technology environment and support services. Scott Sinclair, Associate Deputy Minister Public Utilities Board (PUB) became part of the department in November 2014, is an independent quasi-judicial regulatory body operating under the authority of the Manitoba Legislature. The board is responsible for the regulation of public utilities and rates charged. Darren Christle, Secretary and Executive Director

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Special Operating Agencies: Manitoba Education, Research and Learning Information Networks (MERLIN) was designated as a Special Operating Agency in April 1995. MERLIN coordinates the delivery of technology services to the Education Community (K-12) across Manitoba. Kiley Bender, A/ Chief Operating Officer Manitoba Financial Services Agency (MFSA) was created in 2012 by merging the Manitoba Securities Commission (MSC) and Financial Institutions Regulation Branch (FIRB). The MSC regulates the province’s securities and real estate industry. FIRB regulates the insurance industry, as well as the province’s credit unions, cooperatives, and caisses populaires. Don Murray, Chair of Manitoba Securities Commission Jim Scalena, Superintendent of Financial Institutions Materials Distribution Agency (MDA) was formed in April 2005 by amalgamating the Mail Management Agency (MMA) and the former Materials Distribution Agency. MDA provides mail and mail distribution services to the public sector. Dave Bishop, Chief Operating Officer Vehicle and Equipment Management Agency (VEMA) was formed in April 2009 by amalgamating the assets and operations of Fleet Vehicles Agency and the Mechanical Equipment Services Branch. VEMA provides centralized fleet and equipment management services to public sector organizations in Manitoba, including provincial departments, agencies and Crown corporations. Al Franchuk, Chief Operating Officer

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APPENDIX A: DEPARTMENT OF FINANCE KEY CONACT BIOGRAPHIES Jim Hrichishen, Deputy Minister of Finance: joined the department in 1992 as Senior Economist; previously served as Director of Economic and Fiscal Analysis and chief economist (1998 to 2010) and ADM in the Taxation, Economic and Intergovernmental Fiscal Research Division then appointed Deputy Minister of Finance in November 2013. Prior to joining the government was an economist with TransAlta Corporation in the Economics and Forecasts department; from 1985 to 1989, was an economist with the Government of the Northwest Territories at the Financial Management Board, Department of Finance, and the Department of Energy, Mines and Petroleum Resources. Holds a B.A. (Hons.) in Economics and Masters degree in Economics (Manitoba) with further courses from the Canadian Securities Institute. Has previously sat on the boards of directors of the Canadian Association for Business Economics and the Manitoba Association for Business Economics. Darren Christle, Secretary & Executive Director of PUB: joined PUB in January 2015 and previously held executive positions within the Department Manitoba Infrastructure and Transportation (MIT) Motor Carrier Division spanning 23 years. Holds three Professional Designations (Logistics), BA (Waterloo), MPA (Victoria), and currently PhD student in Public Policy; and holds three College Diplomas in Business Admin & Criminology. Ilana Dadds, ADM, Corporate Services Division: joined government as a management intern over 10 years ago then the department in 2005 and appointed as ADM in July 2012. Prior to joining government worked in journalism, policy & market research and in financial services. Holds a Master’s Degree in Social Anthropology (York University). Barry Draward, ADM, Taxation Division: joined the department as ADM in 1997 and has worked in government since1993. Holds a BComm (Hons) (Manitoba); Professional designation CA (1981). Previously worked for KPMG (Thorne Riddell – 1978 -1990) as a Senior Manager responsible for largest clients in office, Acklands Ltd (1990 – 1993) – Director of Taxation, implemented corporate conversion from FST to GST, new G/L and mgmt reporting system, inventory mgmt system and responsible for corporate process reengineering and improvement. Richard Groen, ADM, Taxation, Economic and Intergovernmental Fiscal Research Division: joined the division in 1990 as a taxation analyst and became Director in 2010, since 2013 served as ADM. Holds degrees in Economics (Brandon and Toronto), Law (Manitoba), and has taken part in program training respecting income tax (CPA Canada) and leadership development (Queen’s, CSC). Donald (Don) Murray, Chair of the Manitoba Securities Commission: appointed to The Manitoba Securities Commission as a part-time Commissioner in 1993 and became Vice-Chair in 1994, then in December 1997 accepted the appointment of Chair of the Commission. As Chair, he represents the Commission with the Canadian Securities Administrators and is a member of the Policy Coordination Committee of the CSA and is a former member of the Board of Directors of the North American Securities Administrators

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based in Washington, DC. Graduated from the Law School (Manitoba, 1976) and practiced law for 20 years. Jim Scalena, Superintendent of Financial Institutions: appointed in 2000 is the Superintendent of Insurance, Registrar of Credit Unions, Registrar of Cooperatives and Director of Trust & Loan Corporations. Previously worked with the federal Office of the Superintendent of Financial Institutions (OSFI) over 27 years, holds a BA in Economics and BComm (Hon) in Accounting & Finance (Manitoba); and is a CGA (1976). Scott Sinclair, Associate Deputy Minister, Central Services Division: joined the department in January 2016; has worked in the public sector since 1999 at both the Provincial and Federal levels; has previously held Executive Management (ADM, Senior/Executive Director) roles in the departments of Education and Advanced Learning and Jobs and the Economy; teaches Research Methods, Multivariate Analysis and Managing Modern Government at the University of Manitoba (department of Political Studies). Holds degrees in economics and mathematics (Brandon) and a Master of Public Administration (Victoria). Garry Steski, ADM, Treasury Division: responsible for policy development regarding the management and servicing of debt, investments and derivative instruments of the provincial government, and for the provision of investment, debt management and banking advice to government crown corporations and agencies; the Province’s main contact with bond investors, investment dealers, credit rating agencies and senior banking officials from around the world; has worked for the province a total of 17 years, ADM for about a year and a half. Professional Designations: CFA, CPA CMA. Jim Swanson, FIIC, RF, Director of Insurance and Risk Management Branch: has worked for the branch since 1988. Holds a Bachelors Degree in Psychology and is a Fellow of both the Insurance Institute of Canada and the Global Risk Management Institute; taught risk management courses at University of Manitoba and University of Winnipeg. Holds a Public Sector Management Diploma (2010); previously has 10 years of underwriting and loss prevention experience at two insurance companies. Aurel Tess, Provincial Comptroller (ADM), Comptrollers Division: joined the department in January 2016 and has 15 years of experience within the Manitoba Government. Holds a bachelor degree and a professional accounting designation CPA, CGA; and has previously held Executive Management roles (ADM) in Justice and Family Services. Chester Wojciechowski, Executive Financial Officer:

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S. 17(1); 17(2)(e)

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DEPARTMENT OF FINANCE STRATEGIC PRIORITIES The strategic priorities of the Department of Finance were devised with the goal of strengthening its contribution to the best interest of the corporate government and the Manitobans government serves. The department works together to be a strong and reliable financial advisor, fiscal manager and meaningful contributor to the Government of Manitoba. Through the recent addition of Central Services, the Department is working toward improving the efficiency and effectiveness of key services within government. To achieve these goals a strong team of dedicated staff is vitally important. Demonstrate fiduciary responsibility:

· Maintain Manitoba’s reputation among stakeholders: o Promote the province to investors in an accurate and transparent way with

integrity and professionalism; o Consult with community, business, and industry with a view to ensuring

efficient, responsive, and effective services and programs; o Timely and reliable financial reporting (e.g., public accounts, annual

reports); o Prevent and mitigate risk/losses (e.g., identify and manage risk) through

insurance programs, risk management, and internal audit.

· A fair, efficient, and competitive provincial tax system: o Ensure tax administration efficacy and efficiency, including the treatment

of taxpayers (clients) with courtesy and respect, privacy and confidentiality, accuracy and reliability, and open communication and fairness;

o Undertake analysis regarding national and provincial taxation policies to provide policy makers with the best information possible;

o Serve the needs of taxpayers by educating, informing, and assisting Manitobans regarding tax programs.

· Minimize the cost of borrowing: o Ensure access to capital markets and liquidity; o Support the needs of crown corporations such as Manitoba Hydro and

Manitoba Public Insurance; o Maintain strong relationships with investors and credit rating agencies to

minimize debt costs.

· Protect and maximize revenue sources, including own-source and federal transfer entitlements:

o Review models for projecting revenue to ensure accuracy remains among the best in Canada;

o Work with colleagues in other jurisdictions in the development of fiscal arrangements analyses, and represent provincial positions.

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Sound financial management across departments:

· Promote innovation in new public contract reporting and procurement initiatives; · Partner with Organization and Staff Development for on-going training on

updates related to financial management for financial staff; · Train the Department’s senior managers on existing financial policies and

procedures; · Support enterprise risk management function for government and catalog and

help mitigate risks; · Communicate with all departments, Special Operating Agencies, and Crowns

regarding roles of key functions in the Department and opportunities for support to departments (e.g., tax policy, comptrollership, etc.);

· Provide key financial services in the interests of government efficiency and effectiveness, such as banking and audit.

Improve the department’s performance through the application of new ideas, methods and technology:

· Enhance the Department’s Continuous Improvement culture through training of key staff, sharing of ideas, and pursuit of improvement events:

· Implement technological tools such as SharePoint for process management, control and continuous improvement;

· Continue to build the physical space plan for government through the Portfolio and Asset Management Strategy;

· Analyze options for improving procurement and saving money, such as category procurement and/or centralizing procurement;

· Continue work on the SAP budgeting module (PBF), GenTAX upgrade, Seniors School Tax Rebate online application protocol, among others.

Ensure the right complement of talent and supportive workplace culture to accomplish work goals – the right people, in the right place, at the right time:

· Government is a $15 billion corporation that must invest in staff to meet changing technologies, accounting, and professional standards, and manage large scale organizational change successfully;

· Support management through learning and networking opportunities; · Support staff through communication, learning, and healthy workplace; · Pursuit of continuous improvement to engage staff and build corporate

commitment and a culture of innovation; · Support diversity, accessibility, and workplace health and safety.

Special Operating Agencies (SOA):

Agencies forward their priorities through separate means. However the following are priorities for Finance SOAs:

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· An effective, efficient and fair capital market; · Balance investor education and protection with industry support and growth in

securities regulation, credit union regulation, insurance regulation, real estate broker and mortgage broker regulation and financial advisor oversight;

· Take an effective, efficient and responsive approach to materials distribution; · Pursue cost effective, fair, transparent, and good value procurement; · Pursure cost effective supply and maintenance of quality heavy equipment and

vehicle leasing for government.

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DEPARTMENT OF FINANCE BROAD POLICY AND FINANCIAL PRESSURES The Department of Finance is a central agency and, except for a few key areas, does not generally provide program services for the general public. As the department responsible for revenue, Manitoba Finance monitors existing and emerging external pressures and issues that can affect the provincial economy and financial performance. This can range from economic performance indicators such as private capital investment, to population migration, jobs, interest rates, federal funding, transfers and national pension schemes, among others. The department also regulates financial services through the Manitoba Financial Services Agency, and provides extensive central services such as ICT, accommodation services, purchasing, and fleet vehicles to all of government through the Central Services Division and its three Special Operating Agencies. While the department does not generally provide services to the public, the department must address the needs of stakeholders, including taxpayers, who rely on Manitoba Finance for accurate, respectful, and professional taxation services, and works to ensure departmental activities are conducted in a fair, transparent, and efficient manner. Economy: Among the international pressures facing Manitoba are slower than expected growth in the U.S. economy, the continued fragile economic recovery of the Euro area, and further slowing in some Asian markets. Domestically, prolonged low oil prices could have larger implications on interprovincial trade, adding to a high level of economic uncertainty, especially for sectors that have a high exposure to the oil industry and for the Canadian exchange rate. Weather and other commodity price volatility can also rapidly change the economic and financial market outlook. Since the 2007/2008 recession, the Canadian economy has grown by 2.3% (average) annually. In 2015, real GDP slowed to 1.2%, primarily due to the collapse in energy prices. The Canadian dollar is trading approximately 17% lower compared to last year. The recently announced federal fiscal stimulus plan is intended to provide a boost to the economy in the medium-term. The weak Canada-US exchange rate has strengthened demand in the U.S. and is anticipated to boost exports and overall economic growth. Economic Forecasts surveyed by the Department estimate the Manitoba economy grew by 2.0% (real GDP) in 2015 and project it to grow by 2.3% in 2016. Debt and Borrowing: Summary net debt as a percentage of GDP is projected at 32.2% with a Third Quarter summary net loss of $733 million. Currently, the province uses a balanced investment approach to secure longer term low interest instruments for financing debt. However, the deficit financing did lead to a credit rating change to Aa2 (stable) in 2015 by Moody’s, whereas DBRS and Standard & Poor’s remained stable. The credit rating agencies and investors will watch the 2016 budget plan with interest. Staff work to

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foster Manitoba’s strong relationships and reputation with investors across Canada and around the world, which has led to Manitoba’s strong access to both domestic and foreign markets and to reduced debt costs. Manitoba will again be implementing a borrowing program (including for Manitoba Hydro) in excess of $5 billion in 2016/17. Stakeholders: In order to improve its fiscal reputation, Manitoba fosters relationships with institutional stakeholders, such as legislators, the Office of the Auditor General, credit rating agencies, business groups (e.g., CFIB, Retail Council, Manitoba Real Estate Association) banks, and other financial commentators, and investors, as well as for those considering to make Manitoba their home or business location. The Department manages investor relations, including communications with various global financial centers, which play a significant and material role in reducing public debt borrowing costs and ensuring diversified sources of capital. Fiscal Arrangements: Total federal transfers to Manitoba have fallen in the last five fiscal years compared to growth to the other provinces overall. Numerous federal actions have resulted in shifting financial pressures onto Manitoba at a time when demand for programs and services is growing. The department supports the Minister and Government by actively participating in the ongoing pan-Canadian research, analysis, discussion and negotiation regarding federal-provincial cost shared programs, initiatives, transfer payments, equalization, among others. Of particular note, is Manitoba’s participation in the renewal of the Equalization program in 2019, as well as supporting discussions for the establishment of a new Health Accord arrangement. Retirement Income System: Federal, provincial, and territorial Finance Ministers are in discussions regarding “strengthening” the retirement income system and promoting financial literacy. The federal government is making changes to the Old Age Security (OAS) Program, including, returning the eligibility age for OAS and the Guaranteed Income Supplement (GIS) to 65. Finance Ministers will meet in June 2016 to discuss pensions, and the Minister will be expected to share Manitoba’s position with colleagues. Disaster Financial Assistance: Starting in February 2015, the federal government made changes to the Disaster Financial Assistance Arrangements (DFAA), raising the minimum threshold of eligibility from $1 to $3 per capita. In addition, a disaster in Manitoba now has to reach $3.9 million before federal cost-sharing begins, up from the previous minimum threshold of $1.3 million. Securities: Provinces have Constitutional responsibility for the regulation of securities within their domain. Manitoba is a member of the Passport System. Other provinces are also members but have proposed a new single securities regulator, with common legislation,

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a head office in Toronto (offices in BC, SK and NB) and federal involvement. To date, Manitoba has opposed a single regulator, as have Quebec and Alberta.

1. Manitoba has filed as an intervener in Quebec’s recent litigation regarding the

Constitutionality of proposed federal legislation. Manitoba’s evidence was filed in February 2016 and it will file again in late spring/early summer 2016.

Credit Unions: In Budget 2016, the federal government confirmed that the Office of the Superintendent of Financial Institutions (OSFI) is withdrawing prudential oversight of provincial credit union centrals and caisse populaires.

Central Services Transition: The various business units of what is now Central Services were placed into Finance in 2015/16 in order to promote innovation, find efficiencies, and improve effectiveness. There are a number of transition-related or subsequent issues that have added pressure to the department. Some related to capital investments and maintenance will be addressed by Treasury Board Secretariat.

1. Finance and Administration Shared Services Branch continues to undertake work associated with the new organization while understaffed and going through key position changes. The branch is challenged to keep up with volume and quality while at the same time building capacity within budget and space limitations.

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Text Box

S. 23(1)(a)(c)(f); 20(1)(b); 21(1)(b)

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S. 23(1)(a)

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S. 23(1)(a)

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S. 23(1)(a)(c)


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Other Issues: The Minister of Finance is currently responsible for the Public Utilities Board, which acts as an independent regulator of certain utilities operating in the province including Manitoba Hydro and Central Gas. Taxation Division has established and maintains many agreements with bands for the sale of tobacco and gasoline to First Nations members.

Manitoba Finance is responsible for upholding taxation statutes and works with the RCMP, CRA, and border services to ensure illegal activity is identified and addressed. This work includes tobacco interdiction related to the sale or transport of illegal tobacco.

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S. 23(1)(a)


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DEPARTMENT OF FINANCE LIST OF COMMUNITY CONTACTS

MANITOBA Organizations Association of Manitoba Municipalities Business Council of Manitoba Canadian Centre for Policy Alternatives Canadian Federation of Independent Business (MB) Canadian Federation of Students – Manitoba Canadian Union of Public Employees - Manitoba Chartered Professional Accountants (CPA) Manitoba Credit Union Central of Manitoba The Great-West Life Assurance Company IGM Financial Inc. Insurance Brokers Association of Manitoba (IBAM) The Manitoba Chambers of Commerce Manitoba Government and General Employees’ Union Manitoba Heavy Construction Association Manitoba Home Builders Manitoba Real Estate Association Manitobans for the Arts Mining Association of Manitoba Inc. University of Manitoba Winnipeg Chamber of Commerce WinnipegREALTORS Association NATIONAL Ministers Federal Minister of Finance – Hon. William Morneau Ontario Minister of Finance – Hon. Charles Sousa Quebec Minister of Finance – Hon. Carlos Leitão British Columbia Minister of Finance – Hon. Michael de Jong Alberta Minister of Finance – Hon. Joe Ceci Saskatchewan Minister of Finance – Hon. Kevin Doherty & Minister of Justice (Securities) – Hon. Gordon Wyant Q.C. New Brunswick Minister of Finance – Hon. Roger Melanson & Minister of Public Safety, Justice & Military Affairs (Securities) – Hon. Stephen Horsman Nova Scotia Minister of Finance – Hon. Randy Delorey Prince Edward Island Minister of Finance – Hon. Allen F. Roach Minister of Justice & Public Safety (Securities) – Hon. H. Wade MacLauchlan Newfoundland and Labrador Minister of Finance – Hon. Cathy Bennett & Minister of Municipal Affairs & Service NL (Securities) – Hon. Eddie Joyce Yukon Premier & Minister of Finance – Hon. Darrell Pasloski & Minister of Community Services (Securities) – Hon. Currie Dixon Northwest Territories Minister of Finance – Hon. Robert C. McLeod

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Nunavut Minister of Finance – Hon. Keith Peterson & Minister of Justice (Securities) – Hon. Louis Sebert Organizations Advocis (The Financial Advisors Association of Canada) Canadian Federation of Independent Business (CFIB) Autorité des marchés financiers – Quebec Securities Commission Canadian Taxpayers Federation Canadian Union of Public Employees Financial Planning Standards Council (FPSC) Investment Industry Regulatory Organization of Canada (IIROC) The Mutual Fund Dealers Association of Canada (MFDA) Office of the Superintendent of Financial Institutions (OSFI) INTERNATIONAL Organizations Dominion Bond Rating Service (DBRS) European Central Bank (ECB) Federal Reserve System International Monetary Fund (IMF) Moody’s Investors Service Standard and Poor’s (S&P) Ratings Services, McGraw Hill Financial Inc.

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STATUTORY RESPONSIBILITIES OF THE MINISTER OF FINANCE

The Affordable Utility Rate Accountability Act The Balanced Budget, Fiscal Management and Taxpayer Accountability Act The Commodity Futures Act The Cooperatives Act The Corporations Act [part XXIV] The Corporation Capital Tax Act The Credit Unions and Caisses Populaires Act The Credit Unions and Caisses Populaires Profits Tax Act The Crocus Investment Fund Act [section 11] The Crown Corporations Public Review and Accountability Act The Emissions Tax on Coal and Petroleum Coke Act The Energy Rate Stabilization Act The Financial Administration Act The Fire Insurance Reserve Fund Act The Fuel Tax Act The Health and Post Secondary Education Tax Levy Act The Hospital Capital Financing Authority Act The Income Tax Act [except sections 7.13 to 7.16, 10.4, 10.5 and 11.8 to 11.12] The Insurance Act The Insurance Corporations Tax Act The Manitoba Investment Pool Authority Act The Labour-Sponsored Venture Capital Corporations Act

[except Part 2 and sections 16 to 18 as they relate to Part 2] The Mining Claim Tax Act The Mining Tax Act The Mortgage Brokers Act The Municipal Taxation and Funding Act [except Part 2] The Pari-Mutuel Levy Act The Property Tax and Insulation Assistance Act [Parts I, I.1, III, IV, V.1 and V.2, and section 1 and Part VI as they relate to subjects covered under Parts I, I.1, III, IV, V.1 and V.2] The Public Officers Act The Public-Private Partnerships Transparency and Accountability Act The Public Sector Compensation Disclosure Act The Real Estate Brokers Act The Retail Sales Tax Act The Securities Act The Securities Transfer Act The Succession Duty Act (S.M. 1988-89, c. 42) The Suitors’ Moneys Act The Tax Administration and Miscellaneous Taxes Act The Tax Appeals Commission Act The Tobacco Tax Act

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DEPARTMENT OF FINANCE SCHEDULE OF EVENTS Key dates for Scheduled Ministerial Meetings:

· June 19 & 20, 2016 Federal-Provincial-Territorial Finance Minister’s Meeting Note: May 5, 2016 Western Premiers Conference, Finance officials are required to provide material for briefing Premiers. Below is a list of events the department has flagged that will need a decision from the Minister or Cabinet before June 2016: MAY 2016

JUNE 2016

· CPP Enhancement: Finance officials will finalize a Canada Pension Plan enhancement options paper for review at the Finance Ministers Meeting (June 19 & 20, 2016).

Decision & Approvals:

· Central Services Division has several contract submissions and negotiations that require Treasury Board approval by May 2016.

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S. 23(1)(a); 19(1)(c)

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S. 23(1)(a)(f)

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S. 23(1)(a); (20)(1)(a)(b)(e); 21(1)(a)(b)(e)

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DEPARTMENT OF FINANCE COMMON ACRONYMS Acronym Name

AMF Autorité des marchés financiers (Québec Securities Commission)

AMM Association of Manitoba Municipalities BBL The Balanced Budget, Fiscal Management and Taxpayer

Accountability Act BITSA The Budget Implementation and Tax Statutes Act BMF Building Manitoba Fund CA Chartered Accountant

CCC Crown Corporations Council CCPA Canadian Centre for Policy Alternatives CFIB Canadian Federation of Independent Business CGA Certified General Accountant CHT Canada Health Transfer CMA Certified Management Accountant COF Council of the Federation (Canada’s Premiers) CPA Chartered Professional Accountant CPI Consumer Price Index CPP Canada Pension Plan CRA Canada Revenue Agency CSA Canadian Securities Administrators

CSSB Civil Service Superannuation Board CST Canada Social Transfer CTF Canadian Taxpayers Federation

CUCM Credit Union Central of Manitoba CUPE Canadian Union of Public Employees DBRS Dominion Bond Rating Service DGCM Deposit Guarantee Corporation of Manitoba ECB European Central Bank

EPTC Education Property Tax Credit EPTCA Education Property Tax Credit Advance (the Advance)

FAA The Financial Administration Act FIPPA The Freedom of Information and Protection of Privacy Act FIRB Financial Institutions Regulation Branch FLS French Language Services FMM Finance Minister Meeting FMS Financial Management Strategy FPT Federal-Provincial-Territorial FRD Taxation, Economic and Intergovernmental Fiscal Research

Division (Fiscal Research Division) FSA Fiscal Stabilization Account FTE Full-Time Equivalent

GAAP Generally Accepted Accounting Principles GBE Government Business Enterprises

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Acronym Name GDP Gross Domestic Product GRE Government Reporting Entity ICM Insurance Council of Manitoba

IIROC Investment Industry Regulatory Organization of Canada IMF International Monetary Fund

MASC Manitoba Agricultural Services Corporation MERLIN Manitoba Education, Research and Learning Networks MFDA The Mutual Fund Dealers Association of Canada MFSA Manitoba Financial Services Agency MGEU Manitoba Government and General Employees’ Union MREA Manitoba Real Estate Association MSC Manitoba Securities Commission OAG Office of the Auditor General OAS Old Age Security OCI Other Comprehensive Income OIC Order in Council ORE Other Reporting Entities

ORPP Ontario Retirement Pension Plan OSC Ontario Securities Commission OSFI Office of the Superintendent of Financial Institutions P3 Public-Private Partnerships

PRPP Pooled Registered Pension Plan PSAB Public Sector Accounting Board PUB Public Utilities Board

RESA The Real Estate Service Act RFP Request for Proposal

RST / PST Retail Sales Tax / Provincial Sales Tax SILR Supplementary Information for Legislative Review SOA Special Operating Agency S&P Standard and Poor’s Ratings Services, McGraw Hill

Financial Inc. SSTR Seniors School Tax Rebate

TAMTA The Tax Administration and Miscellaneous Taxes Act TAO Tax Assistance Office TBS Treasury Board Secretariat TCA Tangible Capital Assets

TRAF Teacher’s Retirement Allowance Fund UTC Untendered Contract WPC Western Premiers Conference

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Documents

MANITOBA FINANCE MINISTERIAL BRIEFING APRIL 2016 · 2019-01-21 · Provincial Relations Branch, and Francophone Affairs Secretariat. TBS will provide separate briefing material to