What did we learn at FMI in Fredericton? class=

What did we learn at FMI in Fredericton?

Doug Hadden, VP Products

I had a chance to speak at the Financial Management Institute of Canada Public Sector Management Workshop  “Sustainability in the Public Sector – Securing the Future” in Fredericton New Brunswick last week.

There were some interesting comments and discussions:

  • Deficit reduction in government requires much higher upfront costs than usually expected. There can be ramifications to cutting like severance packages, sub-leasing space, environmental studies, training etc.
  • The use of IT shared services to reduce overall costs in the Government of Canada has had some unanticipated costs for departments and agencies.
  • Departments and agencies in the Government of Canada need plans for cutting 20% to 30% of expenses to achieve the 10% target. Many budget cut proposals are not accepted.
  • Internal audit improvements in the Government of Canada is progressing slower than expected.
  • The demographic shift and migration means that the Province of New Brunswick is aging faster than any other province in Canada. This has motivated a focus to improve public financial management and introduce performance management in the province.