Yes, I do, Mr. Chairman. Thank you, Mr. Chairman. I am pleased to present the Financial Management Board Secretariat's 2002-2003 main estimates.
The 2002-2003 main estimates proposed total operational expenses of $29,763,000. This provides for a total net growth from the 2000-2001 fiscal year of $2,802,000 and represents a slightly greater than 10 percent increase in expenditures from the previous fiscal year. The expenditure increases proposed for the FMB Secretariat included:
- • $1,500,000 to address increased power subsidy program requirements associated with recent electricity rate increases;
- • $299,000 to provide for the FMBS costs associated with preparing for and conducting collective bargaining negotiations this coming year; and
- • $1 million in support of research and consultation regarding NWT hydro-electric potential.
During the review of business plans and main estimates, the Standing Committee on Governance and Economic Development questioned the location of the hydro initiative in the FMB Secretariat. In its report, the committee suggested that the government combine all of its energy responsibilities and initiatives into one coordinated task or activity. As committed to by the Premier, an approach will be presented to committees before the end of this session to address this concern. In the interim, the hydro funding continues to be included in the FMB Secretariat.
The Secretariat's proposed capital acquisition plan for the 2002-2003 fiscal year includes $1,105,000 for three information technology projects:
- Approximately every 18 to 24 months, software vendors release a major software upgrade. These upgrades are significant and include enhancements or changes to software. The vendor only supports a version of software for a certain period of time. In order to remain supportable, the current version of PeopleSoft needs to be upgraded. $800,000 has been allocated to complete this conversion.
- $280,000 has been allocated to complete software upgrades to the existing financial information system to keep it functional while a business needs analysis for its replacement is performed.
- $25,000 has been allocated for the development of a review plan for the implementation of a corporate budget development and monitoring system.
That completes this brief overview of the proposed FMBS estimates, and I will be pleased to answer questions. Thank you.