I am pleased to be here today to present the Financial Management Board Secretariat's 2004-2005 main estimates.

The 2004-04 main estimates propose total operation expenses of $27.377 million. This provides for a total increase from the 2003-2004 fiscal year of $518,000 and represents a 1.9 percent increase from the previous fiscal year.

The secretariat's main estimates include:

• • a $371,000 increase to salaries and benefits associated with collective agreement changes;
• • a $130,000 increase to establish an equal pay research officer position that will monitor and analyze data pertaining to the maintenance of equal pay for work of equal value in the GNWT. This position will coordinate responses to any complaints on behalf of the GNWT that might arise through different levels of government and review both existing and future pay and benefits to ensure appropriate compliance. This function has been established in response to the
• •
• • passage of amendments to the Public Service Act to provide equal pay for work of equal value for the public service;
• • a $120,000 increase to record a grant-in-kind equal to the value of the interest foregone on a negotiated settlement of a debt due from a diamond manufacturing company that became insolvent;
• • a $1.127 million increase to the Power Subsidy Program.

These increases are partially offset by:

• • a $294,000 reduction due to the winding down of the equal pay settlement implementation activity; and,
• • a $926,000 reduction for the transfer to the NWT Housing Corporation of the O and M associated with housing units transferred to them on the termination of the staff housing program.

The secretariat's proposed capital acquisition plan for the 2004-05 fiscal year includes $497,000 for information technology projects.

There is $300,000 included to purchase new, upgraded servers that will allow existing department applications to be consolidated. When completed, this initiative will reduce the overall cost to government of information technology infrastructure in place while improving quality of service to all affected departments.

There is $197,000 that has been allocated to complete software upgrades to the existing financial information system to keep it functional while a decision regarding its replacement is pending.

For the 2004-05 fiscal year, the FMB Secretariat's main estimates includes a total funded staffing complement of 130 positions; 103 in headquarters and 27 in the regions. This net decrease over the previous fiscal year of seven positions is largely comprised of a reduction of six positions at headquarters associated with the continuing revisions to the makeup and duties of the equal pay team.

That completes my opening remarks. Thank you.