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Crown corporations in BC are public-sector organizations established and funded by the Government of British Columbia to provide specialized goods and services to citizens. [1] They operate at varying levels of government control, depending on how they are defined, funded, and the kinds of services they provide.
British Columbia Investment Management Corporation which uses the trade name BCI, is a Canadian company established by way of the 1999 Public Sector Pension Plans Act to provide investment services to British Columbia’s public sector pensions plans.
A formal system of equalization payments was first introduced in 1957. [7] [ Notes 1]. The original program had the goal of giving each province the same per-capita revenue as the two wealthiest provinces, Ontario and British Columbia, in three tax bases: personal income taxes, corporate income taxes and succession duties (inheritance taxes).
British Columbia government debt is composed of the financial liabilities of the Canadian provincial government of British Columbia. [ 1 ] : 81 As of 2023 [update] , the British Columbia (BC) total government debt (total liabilities) was $129.3 billion for the 2022-23 fiscal year (ending 31 March 2023). [ 2 ]
British Columbia is a secondary jurisdiction of Canada, a constitutional monarchy with a parliamentary democracy in the Westminster tradition; a premier—David Eby of the New Democratic Party since 2022—is the head of government and is invited by the Crown to form a government after securing the confidence of the Legislative Assembly ...
The Auditor General of British Columbia is an independent Officer of the Legislature of British Columbia, responsible for conducting audits of the government reporting entity (GRE) which consists of ministries, Crown corporations, and other government organizations such as universities, colleges, school districts, health authorities, and similar organizations that are controlled by or ...
Prior to their union in 1866, the Executive Councils of the separate crown colonies of British Columbia and Vancouver Island were largely appointed by the governor and included military and judicial officials, their role that of the governor's cabinet, similar to the present except that the governor took part in cabinet meetings and political decisions, whereas the modern-day lieutenant ...
Accrual accounting in the public sector is a method to present financial information on government operations. [1]: 45 [2]: 3 Under accrual accounting, income and expenditure transactions are recognized when they occur, regardless of when the associated cash payments are made.