- Lines of Business
- Organizational Chart (120 KB)
- Branches and Divisions
- Agencies, Boards and Commissions
- Service Level Standards
The Department of Finance is mandated to provide strategic leadership across Government in the development of fiscal, financial, statistical and economic policy. These responsibilities are primarily achieved through the provision of timely analysis and advice to government departments and agencies; Cabinet; and the Committees of Cabinet, particularly Treasury Board for which the Minister of Finance serves as President. It also oversees the management and control of provincial finances to ensure appropriate use of public funds.
This mandate is legislated within the Department of Finance Notice, 2003 under the Executive Council Act and includes responsibility for 39 Acts (plus accompanying regulations) such as theFinancial Administration Act, the Statistics Agency Act, thePensions Funding Act, and the Revenue Administration Act. Additional information is available on-line at www.assembly.nl.ca/Legislation/sr/Finance.htm.
The Department of Finance offers the following lines of business to its key primary clients:
Revenue and Expenditure Policy and Planning:
The Department of Finance provides strategic leadership in provincial revenue and expenditure planning, which includes developing, implementing and monitoring related government policies. A focal point of this responsibility is the coordination of Government’s annual budgetary process, which is integrated, collaborative and consultative. The Department works with other government departments, agencies, boards and commissions to prepare, review and analyze budgetary priorities. This includes oversight of the provincial pre-budget consultation process, which is designed to provide key stakeholders, individuals and various interest groups an opportunity to identify budget priorities for consideration in the provincial budget. A part of this process also includes the development of options for changes to the provincial taxation system; and revenue forecasting and monitoring. The Department is also responsible for negotiating and administrating all programs under federal-provincial fiscal arrangements and providing the analysis required to support the development of Government’s fiscal policies. All of this information is then used to inform Government’s policies and multi-year planning for revenues, expenditures and cash requirements.
The Department of Finance is responsible for the financial management of the public treasury. This includes investment of the Newfoundland and Labrador Pooled Pension Fund and associated financial management responsibilities; administration of three government-sponsored pension plans, which are the Uniformed Services Pension Plan (USPP); the Members of the House of Assembly Pension Plan (MHAPP); and the Provincial Court Judges’ Pension Plan (PCJPP); administration of the government property insurance management; and management of the Province’s borrowing and debt servicing programs, including cash management and the investment of sinking fund assets.
Economic and Project Analysis:
The Department of Finance is responsible for the analysis of the financial and economic impact of major projects to assist Government in its related decision-making processes. The Department is also responsible for analyzing and forecasting the macroeconomic environment (i.e., Newfoundland and Labrador Econometric Model, Input/Output Model, and the Population Projection Model), which includes the provision of specific macroeconomic analysis and studies related to policy, economic events and projects.
Statistical Research, Analysis and Data Development:
The Department of Finance fulfills a vital statistical role for Government by collecting (e.g., telephone surveys, on-line surveys, data purchasing, etc.), storing (e.g., data entry and advisory services in development/modification of administrative databases) and disseminating statistical information while guaranteeing confidentiality and privacy. This is achieved through the Newfoundland and Labrador Statistics Agency. The Department also acts as Government’s official point of contact with Statistics Canada; develops and provides focused sub-provincial data through Community Accounts (www. nl.communityaccounts.ca); and provides expertise in spatial analysis and socio-economic simulation modeling.
The Department of Finance controls and accounts for the receipt and disposition of public money through the development of financial policies and procedures, administration of applicable legislation and the preparation of the provincial financial statements (i.e. Public Accounts) and related financial reports. The Department also develops and maintains government-wide revenue and expense systems and ensures that effective financial management controls, systems and accounting procedures are in place and government departments are properly accounting for their revenues and expenses. These systems and procedures are in place to ensure that no payment of public money occurs that is in excess of the appropriations provided by the House of Assembly and applicable legislative authority. Professional advisory services are also provided to government departments in the areas of: financial management, accounting and systems; financial policy development and implementation; internal auditing; and financial reporting. Corporate shared services for accounts payable and receivables are also provided.
Supports to Cabinet and Committees of Cabinet:
The Department of Finance supports Cabinet and the Committees of Cabinet through the provision of financial, fiscal, statistical and economic analysis. Advisory services are also provided to departments and agencies of Government in the development of such components within cabinet submissions. Additionally, the Department is responsible for the provision of operational support to the Treasury Board Committee of Cabinet, to which the Minister of Finance serves as President.
The Department is responsible for the administration, audit and collection of various provincial own-source taxation programs. It is responsible for the administration of various provincial taxation rebate programs and the collection of select Government of Newfoundland and Labrador receivables.
Service Level Standards
The Department of Finance is committed to providing services to its clients according to defined service level standards and regularly measures whether or not these commitments are being met.
Our Shared Responsibilities
Performing within the Service Level Standards is a shared responsibility between the Department of Finance and its clients. Our Service Level Standards are based on receiving all required information from clients.
|Description of Service||Supplier setup and maintenance is a centralized service for all government payables administered by the Department of Finance. Suppliers to Government are required to be setup with a unique supplier number prior to receiving payment for invoices. This process includes the setup of new suppliers as well as the updating of existing suppliers.|
|Service Standard||Creation of a new supplier account or changes to an existing account will be completed within 6 calendar days of the Department of Finance receiving the completed supplier maintenance forms, with all necessary documentation, from the supplier or from the Department submitting on behalf of a supplier.|
Invoice Processing and Payment
|Description of Service||Invoices that are received for payment from the Government of Newfoundland and Labrador (GNL) are processed and paid by the Department of Finance in accordance with the GNL Invoice Guide, which can be viewed at https://www.fin.gov.nl.ca/fin/suppliers/InvoiceGuide.pdf. Departments are responsible for approving invoices and certifying those invoices for payment.|
|Service Standard||Invoice processing and payment will be completed within 30 calendar days of receiving a complete and accurate invoice.
If the supplier does not have an account set up with GNL, or if the supplier’s account requires changes prior to processing an invoice, an additional 6 calendar days for supplier maintenance may be expected.
Tax Clearance Certificates
|Description of Service||A tax clearance certificate, issued by the Department of Finance, is required prior to the distribution of assets. Certificates ensure no liens associated with provincially administered taxes exist as of the date the certificate is issued. Tax clearance certificates are issued to individuals and businesses.|
|Service Standard||Tax Clearance Certificates for Individuals:
Tax clearance certificate requests for individuals will be processed and issued immediately through the tax clearance online system. Clearance Certificates for Businesses:
Tax clearance certificate requests for businesses will be processed and issued within 9 calendar days through the tax clearance online system.
Business Taxation Refunds
|Description of Service||Clients of the various business taxation programs (Health and Post-Secondary Education Tax, Gasoline Tax, Tobacco Tax, Insurance Companies Tax, Pari-mutuel Tax, Retail Sales Tax on Insurance Premiums, and Utilities and Cable Television Tax) may request refunds of overpayments from the Department of Finance within three years of the date the overpayment occurred in accordance with the legislation.|
|Service Standard||Upon receiving a completed application for refund of a taxation overpayment, the Department of Finance will issue refunds within 60 calendar days to applicants that qualify under the Revenue Administration Act.|
Labrador Border Zone Tobacco Tax Rebate
|Description of Service||A reduced rate of tax applies to cigarettes and fine cut tobacco sold by retailers to consumers in Labrador West (Labrador City and Wabush) and Southern Labrador (from the Quebec border to and including the community of Red Bay). The reduced rates are provided by way of a rebate of tax paid by retailers in these communities. Retailers pay taxes on eligible tobacco products purchased from wholesalers at the higher general tax rate, but sell to consumers in these areas at the reduced tax rate. As a result, retailers apply to the Department of Finance for a rebate of the difference between the general rates and the Labrador border zone rates.|
|Service Standard||Upon receiving a fully completed application, including all required supporting documentation for the Labrador Border Zone Tobacco Tax Rebate, the Department of Finance will process the application and issue payment within 25 calendar days of receiving it from the retailer.|
For questions or concerns regarding the service provided or the decisions made, please call (709) 729-3166 or email email@example.com.
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