Treasury Board President corrects opposition on provincial accounting practice

Finance Minister and Treasury Board President Joan Marie Aylward today corrected acting finance critic Harvey Hodder regarding the province�s accounting practices. On November 28, Minister Aylward tabled in the House of Assembly the public accounts for the year ending March 31, 2001. The public accounts are government�s financial statements and are presented in four volumes.

The Honourable Member for Waterford Valley is misleading the public on this issue," said Minister Aylward. "The public accounts are very important to the people of the province and it is important to set the record straight."

The acting finance critic asserted yesterday that government is "hiding the truth" about the provincial deficit, saying that government�s estimated budget deficit is $34 million but the "actual deficit in the Public Accounts Report is nearly $350 million."

Minister Aylward pointed out that "This is inaccurate. It�s simply the wrong information. Mr. Hodder is comparing the cash deficit reflected in the budget to the accrual deficit represented in the public accounts. He�s comparing apples with oranges."

The minister invited the acting finance critic to sit with the Comptroller General for a "good briefing" on the four volumes of public accounts.

Media contact: Lynn Barter, Communications, (709) 729-0329.
Deirdre Robinson Greene, Communications, (709) 729-0084.

2001 11 30                3:15 p.m.