About: Finance

The Department of Finance seeks to ensure that the financial, information technology, and human resources required by Government are available, allocated in accordance with Government priorities, and used in an efficient and accountable way. The Ministry provides administrative, analytical and policy support to Treasury Board.

Some of the priorities in this mandate are to: 

  • Work with all departments to meet budgetary objectives
  • Lead the stewardship of government finance, including effective expenditure management and close revenue tracking against fiscal plan targets 
  • Ensure overall financial accountability and attention to structural changes that affect the PEI economy and the fiscal plan

Structure and Employees

Finance

The Department of Finance is responsible for financial accounting, Provincial and Federal revenue, debt management, corporate administration and human resources, as well as pensions and benefits.

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Administration

This section provides financial, human resource and administrative services to the department and the Treasury Board Secretariat.

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Debt and Investment Management

The Debt and Investment Management Section is responsible for the day-to-day banking of the province, managing sinking fund assets, and monitoring/assessing the performance of the Pension Fund managers. It is also responsible for financial research, investment strategies for the sinking fund, development of debt management strategies, co-ordinating the issuance of public debt, arranging project financing, asset/liability management of crown corporations, debt, and strategies for cash management.

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Economics, Statistics and Federal Fiscal Relations

The section is responsible for fiscal, tax, statistical, and economic policy advice and provides liaison with the federal government and the provinces on federal/provincial fiscal arrangements. The most prominent aspects of federal/provincial fiscal arrangements are Equalization, Canada Health and Social Transfer, Income Tax Collection Agreements, Reciprocal Taxation Agreement and Fiscal Stabilization. The section maintains the function of statistical focal point for PEI, actively participating with Statistics Canada on statistical matters and responding to inquiries for statistical information.

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Office of the Comptroller

The Office of the Comptroller’s primary responsibility is to operate and maintain the province’s corporate accounting system, and to produce the Public Accounts of the province. It administers the corporate procurement service for departments and crown agencies, embracing the principle of competitive procurement. It manages the collection of revenues and all expenditure payments with the exception of the bi-weekly payroll. It provides support and advice in matters relating to financial management. Its primary mission is to streamline accounting processes and present financial statements that are as transparent as possible to the Legislature and the public.

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Pensions and Benefits

This division provides a centralized administrative location for the government's employee benefit programs. Programs and services include financial management and policy development of pension and group insurance programs and administration of pension programs to active and retired government employees, judges and Members of the Legislative Assembly.

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Taxation and Property Records

The Taxation and Property Records Division ensures fairness and equity in the application and collection of provincial tax and fee revenues, and equity and uniformity in the production of provincial, municipal and fire district real property assessment rolls. 

The division is also mandated to develop, implement, and maintain land related information systems and programs in areas including the Office of the Registrar of Deeds, civic addressing, provincial property lines, corporate geomatics, and official provincial place names (toponymy). 

The mandate of the division requires that services be coordinated and integrated both with federal, provincial and municipal governments and the private sector. 

 

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Minister's Office

Executive level staff for the Department of Finance, including the Minister, Deputy Minister and administrative and communications staff.

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Treasury Board Secretariat

The Treasury Board Secretariat provides support to Treasury Board, as well as financial management for government, government-wide information technology services, risk management and document publishing.

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Administration

Administrative staff for the Treasury Board Secretariat.

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Corporate Finance

The Corporate Finance Section provides financial support for each department. The Section prepares departmental estimates, forecasts and processes actual revenue and expenditure transactions.

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Document Publishing Centre

This section falls under the Treasury Board Secretariat, and provides production printing, official document printing and mail services to provincial government departments, agencies, boards and commissions.

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Fiscal Management

The role of the Fiscal Management Division is to provide excellence in the management of government financial resources by ensuring that public funds are properly budgeted and monitored. The division also provides financial analysis and administrative support for Treasury Board. 

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Information Technology Shared Services

The IT Shared Services branch of Finance was formed on April 1, 2006, as the result of a Cabinet decision to consolidate all IT resources across government within a single work unit. To satisfy the mandate of the branch, ITSS provides a broad range of services to Government departments and agencies. ITSS is divided into four divisions.

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Risk Management and Insurance

Risk Management and Insurance is responsible for the insurance requirements (liability, property, auto and crime) of all government departments, agencies, commissions, regional school boards, regional health authorities, and most crown corporations. The program is responsible for settling insured losses incurred by entities participating in the program including settlement of third party losses against such entities. The program is also responsible for risk management issues, with the objective to eliminate or minimize the potential for loss over all insured entities.

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Agencies, Boards and Commissions

Finance department logo
Minister's Office
Tel:
(902) 368-4050
Fax:
(902) 368-6575
Deputy Minister
Secretary to Treasury Board
Administrative Assistant, Minister's Office
Human Resources Manager - Finance
Legislative and Planning Coordinator
Senior Communications Officer

General Inquiries

Department of Finance
2nd Floor South, Shaw Building
95 Rochford Street
P.O. Box 2000
Charlottetown, PE,   C1A 7N8

Phone: (902) 368-4040
Fax: (902) 368-6575

FinanceInquiries@gov.pe.ca