National

Auditor general raises concerns about B.C.’s bookkeeping for 16th time

Darpan News Desk The Canadian Press, 29 Nov, 2023 12:09 PM

British Columbia's auditor general is repeating himself over concerns about the way the provincial government keeps its books, just as the Ministry of Finance's quarterly report projects a $5.6-billion deficit.

Michael Pickup says if B.C's financial statements followed Canadian public sector accounting standards there would be about another $7 billion in the revenue column, and liabilities would have dropped by the same amount.

This is the 16th time Pickup's office has "qualified" its audit report, meaning it couldn't say the financial statements were fairly presented.

Pickup says the way the province records money it receives for specific projects is incorrect because instead of counting the cash as revenue as soon as a building is complete, a portion is counted each year across the project's lifetime.

He also says government documents don’t disclose all the money it's contractually committed to spend in the future, and they don’t include gaming revenues earned and transferred under the BC First Nations Gaming Revenue Sharing Agreement.

Finance Minister Katrine Conroy says the government "respects and appreciates" the auditor's efforts on this issue, but feels it's "doing what every other jurisdiction in Canada is doing."

Prev Next

MORE National ARTICLES

Canada gains on U.S. in permanent resident race

It's a record that will likely be beaten more than once in the coming years, as a Canadian federal immigration plan released earlier this month aims to admit 465,000 new permanent residents in 2023 and 500,000 a year by 2025, with a particular focus on bringing in people with needed skills and experience.

Canada gains on U.S. in permanent resident race

How $10-a-day child care is rolling out in Canada

British Columbia was the first to sign on, inking a $3.2-billion deal in July 2021 with plans to create 30,000 new child-care spaces within five years and 40,000 within seven years. B.C. started a $10-a-day program at select facilities in 2018 and plans to double those spaces to 12,500 this month.

How $10-a-day child care is rolling out in Canada

B.C. public school teachers ratify new contract

It boosts annual salaries for new teachers as much as $8,500 by the end of the third year while B.C.'s highest-paid educators will earn up to $13,500 more over the same period, which Johnston says pushes them above the $100,000-per-year threshold for the first time.

B.C. public school teachers ratify new contract

Arctic cold descends on parts of B.C.

Arctic outflow warnings have been posted for B.C.’s central and northern coasts, with the wind chill predicted at minus 20. Special weather statements are also up for most of Vancouver Island and the south coast, with icy conditions and wind chills near minus 10.

Arctic cold descends on parts of B.C.

Street drugs kill another 179 people in B.C.

The coroner says the October statistics show that illicit drugs caused the deaths of 1,827 people in B.C. in the first 10 months of this year. Chief coroner Lisa Lapointe says the increased toxicity and variability of street drugs has created an environment where everyone who uses substances is at risk.

Street drugs kill another 179 people in B.C.

Metro Vancouver storm creates traffic chaos

Several crashes blocked the Alex Fraser Bridge, one of the main arteries over the Fraser River. The route was closed for hours in both directions over safety concerns, the government said.