Finance
January 28, 2010
Provincial Government Steadfast in Its
Focus on Responsible and Prudent Management
The Williams Government has been
unwavering in its commitment to managing provincial
programs, services and financial resources in a
responsible and prudent manner. In responding to today's
release of the Auditor General's review of Provincial
Government departments and agencies for the year ended
March 31, 2009, the Honourable Tom Marshall, Minister of
Finance and President of Treasury Board, said that
commitment will continue and the recommendations of the
Auditor General will be carefully examined.
"The Auditor General provides an
important level of oversight for government," said
Minister Marshall. "The Williams Government has an
excellent record when it comes to acting on
recommendations of the Auditor General. In fact, this
was clearly demonstrated by the Auditor General's
findings in his Update on Prior Years' Report Items
released in November 2009. That report showed that
nearly 90 per cent of recommendations from prior reports
have been addressed or are in progress of being
addressed, exceeding the 80 per cent goal set by the
Auditor General.
We will
certainly give careful consideration to the
recommendations in this report as well."
This latest report by the Auditor
General also included a review of the province's
financial condition stemming from his audit of the most
recent financial statements (Public Accounts) for the
fiscal year ended March 31, 2009. The Minister of
Finance tabled the Public Accounts in December 2009 and
reported a surplus of $2.4 billion and net debt of less
than $8.0 billion.
Minister Marshall acknowledged the
current economic climate and volatility of the markets
as challenges facing the province's financial situation
and the need for continued emphasis on managing the
provincial debt.
"To address these demands our
government is committed to building upon the strong
fiscal foundation that has evolved since the Williams
Government was first elected," said Minister Marshall.
"This has been achieved through diversifying our economy
and maintaining our commitment to debt reduction. Sound
governance and responsible management have been the
cornerstones of how our government runs the affairs of
the province and administers programs and services to
meet the needs of our residents."
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Media contact:
Ronalda Walsh
Director of Communications
Department of Finance
709-729-6830, 685-1741
ronaldawalsh@gov.nl.ca
2010 01 28 10:30 a.m.
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