Submitted 16th November 2005
Popularity 730
The mission of Alberta Finance is to provide corporate financial services and manage the province’s financial affairs and policies in the interests of Albertans.
At Alberta Finance, our vision is to provide financial leadership that strengthens Alberta; and our mission is to provide corporate financial services and manage the province’s financial affairs and policies in the interests of Albertans. Our staff look for new and better ways to plan, budget and invest for the province. We provide Albertans with quarterly fiscal updates, report on government`s performance and provide economic forecasting. We also administer provincial tax and rebate programs, investments, pension plans and regulate insurance and financial institutions.
We provide a wide range of services to ensure Alberta maintains its strong financial position.
The department is the central component of Alberta Finance, led by the Deputy Minister. Alberta Finance currently employs approximately 470 people.
Four districts of the Northwest Territories formed the provinces of Alberta and Saskatchewan in 1905: Athabasca, Assiniboia, Alberta and Saskatchewan. Alberta was named after Princess Louise Caroline Alberta, fourth daughter of Queen Victoria. It was proclaimed a Province on September 1, 1905. Albertans are celebrating their centennial in 2005. The First Nations settled the plains about 8,000 years ago. They sustained themselves by hunting the buffalo. Another group of First Nations, who included the Woodland Cree and Chipewyan tribes, settled the woodland areas of central Alberta. These people hunted caribou, moose and fished the lakes and rivers. They used bark canoes to travel up and down streams in the area.
Our BusinessThe people at Alberta Finance are responsible for the financial operations of Alberta Government. We don`t make the decisions. Politicians decide how the money is spent based on what they hear from Albertans. We ensure their instructions are carried out.
Provincial DebtAlberta’s commitment to fiscal responsibility is the cornerstone of our province’s strength. Budget 2005 is the 12th consecutive balanced budget. Alberta is the only province in Canada with no accumulated debt and a Triple A credit rating.
Alberta Savings CertificatesYou can no longer buy Alberta Savings Certificates or Alberta Capital Bonds. The Alberta Government stopped issuing them in 1997. All of the issues of Alberta Savings Certificates and Alberta Capital Bonds have now matured.
About Performance MeasurementPerformance measurement is a valuable tool for government. And, for that matter, businesses and communities too. It is a tool that not only measures results, but can also be used to improve them.
Alberta Indian Tax ExemptionEligible Indian consumers are exempt from payment of Alberta tax on fuel and tobacco products purchased on Indian reserves in Alberta for their own use. This includes fuel delivered to storage tanks on the reserves by bulk fuel dealers.
Heritage FundThe Heritage Fund is now forecast to earn investment income of $934 million in the 2005-06 fiscal year, an increase of $250 million from the original budget estimate of $684 million.