Finance division

What we do

The Budget, Treasury and Debt Management Branch has responsibility for the management of the government's financial resources to ensure that public funds are properly budgeted and monitored, that the return on investments is maximized, and the government's cash and debt management costs are minimized within required risk parameters.

Some of our work

• managing the operations of the Financial Management Board;
• licensing and regulating insurance companies, agents, brokers and adjusters operating in the NWT; and
• administering legislated tax programs.

What we do

The NWT Bureau of Statistics  is responsible for the collection, development and dissemination of statistics required by the Government of the Northwest Territories.

Some of our work

To fulfill this role, the Bureau of Statistics:

• produces community population estimates and projections by age, sex and ethnicity;
• provides statistical advice and expertise;
• develops and maintains statistical models including input-output and occupational demand models;
• collects, analyzes and disseminates data; and
• represents territorial statistical interests within the national statistical system.

What we do

Financial and Employee Shared Services (FESS) provides a range of services which includes payroll, data management and benefits to all Government of the Northwest Territories (GNWT) employee groups as well financial transaction processing on behalf of GNWT Departments and the Northwest Territories Housing Corporation.

Some of our work

• Providing services for suppliers which includes supplier set ups, supplier updates, direct deposit set ups, and accounts payable
• Providing services for customers which includes customer set ups, customer updates, on location cashier and accounts receivable
• Providing payroll and benefit administration services for the GNWT employee groups

What we do

The Fiscal Policy Division is responsible for providing research, analysis and recommendations on the fiscal policies of the GNWT.

Some of our work

• monitoring economic conditions as they affect the government's fiscal position;
• providing macroeconomic research and policy advice;
• providing analysis and advice on Canadian and NWT tax policies;
• monitoring and advising on intergovernmental fiscal relations, especially Territorial Formula Financing arrangements;
• preparing the annual budget address;
• providing technical support for the Minister and Deputy Minister of Finance in federal-provincial-territorial discussions; and
• representing the GNWT on intergovernmental Finance committees.

What we do

Enterprise Resource Planning Systems (ERPS) implements, maintains, and supports existing and new functionality within the GNWT’s Enterprise Resource Planning (ERP) solution: a core financial and procurement system called System for Accountability & Management (SAM) and a core Human Resource Information System (HRIS). The combined system is also referred to as PeopleSoft or SAM/HRIS.

Some of our work

• Upgrading the GNWT’s System for Accountability & Management (SAM) and its Human Resource Information System (HRIS)
• Developing a SAM and HRIS training program for employees that will be delivered in advance of these changes.
• Operating two help desks HRIS and SAM Helpdesks to provide support to employees

What we do

The Internal Audit Bureau (IAB) provides an independent, systematic, disciplined, objective internal audit and consulting services to GNWT Departments, Boards, and Agencies as mandated by the Financial Administration Act (Sections 37 to 42).

The IAB supports management with continuous process improvement by assessing and recommending improvements in the effectiveness of risk management, internal controls, and governance processes.  The IAB performs the work in accordance with professional internal auditing standards established by the Institute of Internal Auditors. 

Some of our work

The nature of IAB work can be classified in the following categories:

• Operational audits (also known as value-for-money, performance audit) evaluates the system of internal controls established by management over a function/process to support achievement of the program objective efficiently and effectively.  The process includes examination of governance processes, information integrity, compliance, and protection of assets.
• Information technology audits examine management controls within an information technology infrastructure used to achieve GNWT objectives.  Assessment of information system effectiveness requires examination of governance framework, data integrity, compliance to accepted governance framework, and safeguarding of assets.
• Special investigations are conducted under the direction of the GNWT Comptroller General covering loss of assets, conflict of interest, breach of trust or code of conduct issues.
• Consulting services cover a range of formal and informal advice to management on areas such as risk assessment, business process mapping and data analysis.

What we do

The Management Board Secretariat (MBS) supports the operations of the Financial Management Board (FMB), and is also responsible for the GNWT’s budget, planning and reporting cycle.

Our work includes

• Administering the business and budget planning processes and related operational commitments, including the corporate capital planning process, development of the Main Estimates, accounting and financial systems, controls, monitoring and reporting.
• Reviewing and making recommendations regarding departments’ requests for additional funding.
• Facilitating the integration of Enterprise Risk Management (ERM) into departmental operational and reporting practices.
• Providing advice and support to departments across a range of evaluation-related activities including program design, performance measures and monitoring, evaluation and capacity building.
• Fostering consistency and accountability in the areas of program development, data collection and evaluation to ensure the development and delivery of effective, efficient programs and services that meet the needs of NWT residents.

GNWT employees can find resources for FMB submissions, as well as MBS tools for planning and evaluation on BearNet.

What we do

The Northwest Territories Liquor and Cannabis Commission is responsible for the purchase, sale, classification and distribution of liquor and cannabis in the Northwest Territories.

The Northwest Territories Liquor and Cannabis Commission is administered through the Government of the Northwest Territories, Department of Finance.

Some of our work

• the distribution and sale of liquor and cannabis through a network of retail outlets and one central warehouse
• the management and accounting of the Liquor Revolving Fund
• the implementation and promotion of awareness and social responsibility campaigns

What we do

The Office of the Comptroller General has responsibility for providing control over the administration of the Government of the Northwest Territories’ (GNWT) consolidated revenue fund.

Some of our work

• receipt and payment of public money;
• accounting policy;
• the financial records of the GNWT;
• reporting responsibilities, financial analysis, advice and interpretation; and
• internal auditing and related matters.

The Risk Management & Insurance Section of the Department of Finance is responsible for administering the Government of the Northwest Territories' risk management and insurance programs.

What does Risk Management and Insurance do?

In cooperation with client departments, boards and agencies, Risk Management & Insurance works to minimize exposure to human, physical and financial loss. Core services include:

Risk Management Consultation:

• Risk Identification
• Risk Evaluation
• Risk Control
• Risk Transfer

Loss Control Analysis and Consultation:

• Loss Control Inspections
• Playground Inspections

Property Appraisal Program

GNWT’s Insurance & Self Insurance Programs:

• Claims Administration (Investigation, Negotiation and Settlement)
• Inventory and Insurance Administration for the GNWT’s Mobile Equipment & Automobile Fleet
• Purchase of insurance policies to address Client’s unique Exposures
• Purchase of Capital Project Insurance under an Owner's Program

Contract Review:

• Insurance Requirements and Wordings
• Risk Transfer Requirements
• Indemnity Clause review
• Authority for Insurance Requirement Waivers
• Review of Contractors’ Insurance Policies

What we do

The Office of the Superintendent of Insurance (OSI) and the Superintendent of Insurance (SOI) regulates the business of insurance in the Northwest Territories (NWT) and enforces the NWT Insurance Act and Regulations.

The Act applies to all insurance business, whether it is done in person, in writing, over the telephone or online.

Insurers

The Act requires that all Insurers operating in the Northwest Territories to be licenced. This includes life, sickness and accident insurance, and property and casualty insurance.

Intermediaries

The Act also requires all insurance agents, salespersons, and adjusters to be licenced, regardless of whether or not that person is a resident of the Northwest Territories.

Our work includes

Advising the insured on positions taken by the insurance industry concerning claims, premium ratings and underwriting decisions; and interpreting the NWT Insurance Act and its regulations for insurers and insurance agencies.

For insurance inquiries and complaints please visit here.

Issuing annual reports that provide a statistical overview of the business of insurance in the NWT, a summary of licensed individuals and companies, and an abstract on premium tax remitted.

Superintendent of Insurance Reports, Bulletins and Notices can be found here.

Collecting taxes on gross premiums and fire premiums on business transacted during the taxation year.

Memberships

The NWT is a member of in the following organizations:

• Canadian Council of Insurance Regulators (CCIR)
• Canadian Insurance Services Regulatory Organizations (CISRO)
• General Insurance Statistical Agency (GISA)

What we do

Reporting to the Deputy Minister of Finance, Shared Corporate Services (SCS) provides corporate services to the Department of Finance and the Department of Executive and Indigenous Affairs.

Some of our work

• Planning and budgeting;
• Policy and legislative development;
• Records management;
• Access to information and protection of privacy (ATIPP) obligations;
• Communications; and
• Financial management and control.