Ministry of Finance (Manitoba)
From Wikipedia, the free encyclopedia
The Ministry of Finance is a department of the government of Manitoba. It is overseen by the Minister of Finance, who serves as a member of the Executive Council of Manitoba. Prior to 1969, the department was known as the Provincial Treasury, and ministers were known as Provincial Treasurers. Many regard the Ministry of Finance as the second-most important department of government, after the Office of the Premier.
The Finance Minister is responsible for managing the province's fiscal resources, overseeing taxation policies, and allocating funds to other governmental departments. Every year, the minister submits a budget to the legislature outlining anticipated expenditures and revenues for the next twelve months. The minister is also required to submit a completed financial report for the annual cycle just completed.
The Finance portfolio is the oldest cabinet position in the province, predating the office of Premier by four years. The first Provincial Secretary in Manitoba was Marc-Amable Girard, who was appointed to the position on September 16, 1870 by Lieutenant-Governor Adams George Archibald soon after his arrival in the province. Until January 1871, Girard and Provincial Secretary Alfred Boyd were the only members of Archibald's ministry.
Prior to 1977, it was not considered unusual for Manitoba's provincial premiers to reserve the position of Treasurer or Finance Minister for themselves. In the twentieth century, John Bracken, Stuart Garson, Douglas L. Campbell, Dufferin Roblin and Edward Schreyer all assumed this responsibility at one time or another (indeed, Roblin was his own Treasurer for the entire extent of his term in office). No premier has taken this responsibility since 1977, and such a combination of responsibilities would now be considered very unlikely.
Since the introduction of partisan politics in 1888, all Manitoba Finance Ministers have belonged to the governing party of the day. During the coalition ministry which governed Manitoba from 1940 to 1950, the posiition was reserved for members of the dominant Liberal-Progressive Party.
The current Finance Minister of Manitoba is Greg Selinger of the New Democratic Party. In early 2005, Selinger indicated that his department would soon move to a system known as Generally Accepted Accounting Principles, which has already been adopted in most other provinces. This followed a request from provincial Auditor General Jon Singleton, who criticized the manner in which Selinger's department tabulated its expenditures. Singleton claimed that the province's $13 million surplus for 2004 wouild actually have been a deficit if crown corporation losses and other off-budget spending were included.
