Responding to the fiscal update

A number of Financial Officers have contacted us with questions about how the federal government’s fiscal update will affect the FI Community in the public service.

We have been in contact with our political advisors and key stakeholders on all sides, including a meeting with officials at Treasury Board. The FI Collective Agreement negotiated with Treasury Board and signed on June 6, 2008, is in effect until November 6, 2009. This deal was negotiated and signed in good faith and we expect the employer to respect this agreement.

It is difficult to determine what may happen beyond that date given the talk of the opposition parties defeating the government and forming a coalition. Even if the government survives, legislation regarding public service wages and pay equity would have to pass through the Standing Committee on Government Operations and Estimates, at which point amendments could be made.

ACFO is actively working to assess and manage the risks associated with such a period of uncertainty. We certainly understand the FI Community is not immune to the concerns of all public servants and we will keep you informed as we develop a clearer picture of what the next months and years will hold.

Milt Isaacs, CMA, CPFA
President, Association of Canadian Financial Officers