Alberta Treasury Branches (April 20)
Mr. MacDonald: Thank you, Mr. Speaker. Taxpayers of Alberta guarantee Alberta Treasury Branch deposits of $23.8 billion.
There’s no room for mistake or mismanagement.
To the minister of finance: why has the minister allowed ATB to mismanage the startup of its new banking system to the point where it is now $140 million over budget and a year behind schedule?
Dr. Morton: Mr. Speaker, I’ve already spoken, to the public record, that I’m not pleased at all with that result, a cost overrun of that magnitude. I’m requesting a full report from ATB as to what happened and what’s being done to prevent it from happening again. I would point out to the hon. member that the Auditor General has noted that ATB is already taking steps to correct some of the problems they’ve experienced.
The Speaker: The hon. member.
Mr. MacDonald: Thank you, Mr. Speaker. Again to the same minister. Speaking of the Auditor General, the office of the Auditor General has 14 outstanding recommendations for the Alberta Treasury Branches, including one on risk management, one on senior management bonuses, one on internal audit programs, and one on internal control weaknesses. Why has the minister of finance failed to deal with these 14 outstanding recommendations?
Dr. Morton: Mr. Speaker, in fact, we’re dealing with all of them. We accept all of them. But I would remind the hon. member that we manage the relationship in terms of strategic direction for the Alberta Treasury Branches. I don’t think he or anybody else in this House wants us to get back into the micromanaging of internal decisions of Crown corporations. We’re not going there. We want operational independence for ATB.
Mr. MacDonald: Mr. Speaker, the minister knows full well that the board of directors is appointed by this government. We have $23.8 billion in deposits that are guaranteed by the taxpayers. They have to be protected. Again, why has the minister . . .
The Speaker: The hon. minister has the floor. I heard two questions there. Deal with the first one. We’re moving on.
Dr. Morton: Mr. Speaker, I’ve met several times already with the chairman of the board. We’ve discussed these issues. We’ve accepted all of the Auditor General’s recommendations. I’d remind the members opposite that the Auditor General – they’re not playing get-you politics the way you guys are pretending. The Auditor General makes recommendations to improve systems. There’s always room for improvement. We accepted the recommendations, and that’s what we’re doing.
Alberta Hansard, April 20, 2010