The report of the Auditor General of Québec is tabled in the National Assembly - Press Release no. 2

QUÉBEC, Feb. 26, 2015 /CNW Telbec/ - Today, Mr. Michel Samson, Acting Auditor General, makes public the report entitled Analysis of the December 2014 Economic and Financial Update.

Balanced budget: a different notion than the one used in the financial statements. While the government forecasts a budgetary balance of zero within the meaning of the Balanced Budget Act for 2015-2016 and 2016-2017, it also plans on presenting in its consolidated financial statements a surplus estimated at $1,617 million for 2015-2016 and $2,288 million for 2016-2017.

Qualification of assumptions: almost all are reasonable. The forecasts of the December 2014 Update are reasonable for the years 2014-2015, 2015-2016 and 2016-2017, except for forecasts on debt service, which are pessimistic for those same years, and the forecast on expenditures from the general fund, which is ambitious for the year 2016-2017.

Forecasts: risks offset by prudence margins. The presence of unfavourable risks is offset for the most part by the presence of favourable risks from prudence margins.

Budgetary measures: a fairly specific plan. The December 2014 Update gives a fairly specific idea of the government's plan to achieve a balanced budget in 2015-2016. Indeed, the government has identified measures and taken concrete actions to control its expenditures. Nevertheless, risks remain regarding the non-realization of the measures. On the one hand, the effects of these measures may be delayed, and on the other hand, they may be different than those expected. Additionally, some measures still needed to be identified for the years 2015-2016 and 2016-2017.

Expenditures from the general fund: considerable efforts and rigorous follow-up will be required. Program spending forecasts are reasonable for the years 2014-2015 and 2015-2016 and ambitious for the year 2016-2017. Additionally, reaching the program spending objective for 2015-2016 and 2016-2017 depends on the implementation of the numerous reduction measures announced in the June 2014 budget and the December 2014 Update.

Presentation of information: deficiencies with respect to expenditures. The Update does not present any assumption concerning expenditures. Additionally, there is no detailed analysis of historical trends according to the nature of expenditures or even according to the State's main missions.

The Highlights are available at www.vgq.qc.ca. The full report is only available in French.

 

Source:  

 Lucie Roy, Director


Cabinet, communications et affaires stratégiques


Auditor General of Québec


Tel.: 418 691-5915

 

SOURCE Vérificateur Général du Québec

For further information: Lucie Roy, Director, Cabinet, communications et affaires stratégiques, Auditor General of Québec, Tel.: 418 691-5915

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