GOVERNANCE

Commitment 5.3.2 – We will implement the government’s new Financial Administration Act in order to improve government-wide planning and accountability, and overall fiscal responsibility.

Through Bill 37, the 17th Legislative Assembly approved the modernization of the Financial Administration Act (FAA), to establish a framework for improved accountability, transparency and fiscal responsibility in respect of public money and other money administered by Government and public agencies.  The new FAA came into effect on April 1, 2016 and was the first major update of the FAA since 1987.

This necessitated the corresponding update to the Financial Administration Manual (FAM) to comply with the new FAA.

The Financial Administration Manual (FAM) is intended to provide policy direction regarding the purpose and scope of the mandatory provisions of the FAA, related regulations, and areas requiring direction for effective financial administration.

Related Mandate Commitments

• Commitment 5.3.5 – We will establish an Open Government Policy to enhance civic participation, increase the availability and accessibility of information about government activities, and explore new technologies for openness and accountability.
• Commitment 5.3.6 – We will improve public visibility and accessibility of Cabinet by organizing Cabinet meetings in each region of the NWT, holding selected Committee-of-Cabinet meetings in public, and meeting with standing committees in public more frequently.

For more information about this initiative, please contact the Department of Finance.