Thank you, Mr. Chairman. The Financial Management Board Secretariat reports to the Minister of Finance. FMBS manages and controls the government's financial, human and information resources. The FMBS, the Ministry of Aboriginal Affairs and the Executive Offices make up the Department of the Executive. Each component submits their own business plans and main estimates for review by the Standing Committee on Governance and Economic Development.

The Standing Committee on Governance and Economic Development met with the chair of the Financial Management Board and his staff on Wednesday, January 16, 2002, to review the Secretariat's main estimates for 2002-2003.

The committee noted a $3,000 net increase in operations expenses for the Secretariat from their 2002-2005 business plans. This entire increase is attributed to a $3,000 decrease in the Secretariat's amortization estimates.

The FMBS did not propose any increase in its capital expenditures from their 2002-2005 business plans. However, committee members did recall that the Secretariat proposed a $985,000 increase to their capital plan in their 2002-2005 business plans from their 2001-2002 main estimates. This capital expenditure increase was due to a PeopleSoft upgrade of $800,000 and other improvements for the financial information system, and the budgeting development and monitoring system.