Sustainable Fiscal Planning and Reporting Act

SUSTAINABLE FISCAL PLANNING AND REPORTING ACT Chapter S‑29 Table of Contents 1 Interpretation Planning 4 Consolidated fiscal plan 4.1 When main estimates tabled 5 Strategic and business plans Reporting 6 Reports on progress 8 Government annual report 8.1 Annual infrastructure report 9 Ministry annual reports 10 Accountable organizations 11 Contents of public accounts Fiscal Framework 11.1 Definitions 11.2 No projected deficit 11.3 No actual deficit 11.4 Application of no actual deficit rules in future fiscal years 11.5 Limitations on actual in‑year expense increases 11.6 Limitations on projected year‑over‑year operating expense increases 11.7 Alberta Fund and allocation of surplus cash Application 12 Application Transitional Provisions 12.1‑12.4 Transitional Consequential Amendments and Repeal 13‑19 Consequential amendments 20 Repeal Interpretation 1 (1) In this Act, (a) “consolidated fiscal plan” means the consolidated fiscal plan referred to in section 4; (b) “ministry” of a particular Minister consists of (i) the department administered by that Minister, including any other part of the public service for which the Minister is responsible, (ii) any Provincial agency for which that Minister is responsible, other than a corporation referred to in section 2.2(4) of the Funds and Agencies Exemption Regulation (AR 128/2002), (iii) in the case of a sector Minister as defined in the Provincial Health Agencies Act , the provincial health agencies or regional health authorities for which the sector Minister is responsible under the Provincial Health Agencies Act , (iii.1) in the case of a responsible Minister as defined in the Provincial Health Agencies Act , the provincial health corporations for which that Minister is responsible under the Provincial Health Agencies Act , and (iv) in the case of the Minister responsible for the Education Act , the school boards under that Act; (c) “Provincial agency” means a Provincial agency as defined in section 1(1)(p) of the Financial Administration Act ; (d) “Provincial corporation” means a Provincial corporation as defined in section 1(1)(r) of the Financial Administration Act ; (e) “responsible Minister” means the Minister determined under section 16 of the Government Organization Act as the Minister responsible for this Act. (2) If this Act provides that a person is required to make a document public, the person must (a) lay a copy of the document before the Legislative Assembly if it is sitting at the time the document is required to be made public or, if it is not then sitting, within 21 days after the commencement of the next sitting, and (b) make the document available to the general public in a reasonable manner at the time required under this Act, whether or not the document has been laid before the Legislative Assembly. 2012 cE‑0.3 s288;2015 cF‑14.7 s1;2024 c10 s42;2025 c10 s55 2 Repealed 2019 c18 s8. 3 Repealed 2016 c17 s5. Planning Consolidated fiscal plan 4 (1) The responsible Minister must prepare for each fiscal year a consolidated fiscal plan for a period that includes the fiscal year and at least 2 subsequent fiscal years. (2) The consolidated fiscal plan must be prepared on the same scope and basis as the consolidated financial statements referred to in section 8(2)(a). (3) The consolidated fiscal plan must include any major economic assumptions made in preparing the fiscal plan, including a comment on the effect that changes in those assumptions may have on the finances of the Province in the fiscal years to which the plan relates. (3.1) The consolidated fiscal plan must include an assessment of the impact of the consolidated fiscal plan on the debt of the Province. (4) The responsible Minister must make the consolidated fiscal plan public at the time the responsible Minister tables the main estimates for that fiscal year in the Legislative Assembly. (5) If the responsible Minister tables supplementary estimates or a subsequent set of main estimates in the Legislative Assembly in respect of a fiscal year, the responsible Minister must table with those estimates an update to the consolidated fiscal plan for that year. 2015 cF‑14.7 s4;2019 c18 s8 When main estimates tabled 4.1 (1) Subject to subsection (2), the responsible Minister shall table the main estimates for a fiscal year in the Legislative Assembly during the month of February of the immediately preceding fiscal year. (2) Subsection (1) does not apply in relation to a fiscal year if, for the purpose of holding a general election, the Legislative Assembly is dissolved after August 31 and before March 1 of the immediately preceding fiscal year. 2020 c14 s2 Strategic and business plans 5 (1) The Government must have a strategic plan. (2) For each fiscal year, every Minister must prepare a business plan for the Minister’s ministry for a period that includes the fiscal year and at least 2 subsequent fiscal years. (3) The contents and form of the business plans are to be determined by the Treasury Board. (4) The business plans must be made public at the same time as the responsible Minister makes the consolidated fiscal plan public. Reporting Reports on progress 6 (1) Subject to subsection (6), the responsible Minister must, in a form determined by the responsible Minister, on an annual basis, prepare and make public reports in respect of the consolidated fiscal plan in accordance with subsections (2) to (4.1). (2) The first report (a) must be made public on or before August 31, and (b) must include (i) an update of the expense and capital plan components of the consolidated fiscal plan for the current fiscal year, (ii) an explanation of the differences between the update under subclause (i) and the expense and capital plan components of the consolidated fiscal plan for the current fiscal year, and (iii) an update of the economic outlook for the current fiscal year set out in the consolidated fiscal plan. (3) The 2nd report (a) must be made public on or before November 30, and (b) must include an update of (i) the economic outlook for the current fiscal year set out in the consolidated fiscal plan, and (ii) the fiscal outlook for the current fiscal year that is reflected in the consolidated fiscal plan. (4) The 3rd report (a) must be made public on or before the last day of February, and (b) must include an update of the fiscal outlook for the current fiscal year that is reflected in the consolidated fiscal plan. (4.1) The 4th report (a) must be made public at the time the annual report referred to in section 8 is made public, and (b) must include an explanation of the differences between the fiscal outlook in the consolidated fiscal plan for the fiscal year ending on the preceding March 31 and the final year‑end results of the fiscal outlook in the consolidated fiscal plan for the fiscal year ending on the preceding March 31. (5) Subsection (4) is deemed to be complied with if the following year’s consolidated fiscal plan, containing the updated fiscal outlook for the current fiscal year, is made public on or before the last day of February in the current fiscal year. (6) A reporting requirement in respect of the consolidated fiscal plan under subsections (1) to (4.1)applies only if the consolidated fiscal plan, including any update to the consolidated fiscal plan, is made public at least 60 days before the respective report deadline. (7) For greater certainty, nothing in this section precludes the responsible Minister from preparing and making public any other report that the responsible Minister considers appropriate or from including in a report under this section any information that the responsible Minister considers appropriate. 2015 cF‑14.7 s6;2019 c18 s8;2020 c14 s3;2023 c3 s9;2024 c4 s6 7 Repealed 2019 c18 s8. Government annual report 8 (1) The responsible Minister must prepare and make public on or before June 30 of each year an annual report for the fiscal year ending on the preceding March 31. (2) The annual report must include (a) the consolidated financial statements of the Province of Alberta, (b) a comparison of the actual performance results to the desired results included in the strategic plan under section 5(1), and an explanation of any significant variances, (c) the Auditor General’s report under section 18 of the Auditor General Act , if the Auditor General’s report in respect of the fiscal year is available when the responsible Minister makes the consolidated financial statements public, and (d) any other information the responsible Minister considers appropriate. 2015 cF‑14.7 s8;2019 c18 s8 Annual infrastructure report 8.1 The responsible Minister must prepare and make public on or before June 30 of each year an annual infrastructure report that contains (a) the actual results for the capital plan set out in the consolidated fiscal plan for the previous fiscal year, (b) a comparison of the actual results under clause (a) to the capital plan set out in the consolidated fiscal plan for the previous fiscal year, (c) updates on progress on major capital projects and programs, and (d) any other information the responsible Minister considers appropriate. 2019 c18 s8 8.2 Repealed 2023 c3 s9. Ministry annual reports 9 (1) Every Minister must prepare and make public, in a form and at a time acceptable to the Treasury Board, a ministry annual report for the fiscal year ending on the preceding March 31 for the ministry for which the Minister is responsible. (2) The ministry annual report must include the information the responsible Minister considers appropriate. (3) A ministry annual report prepared in accordance with this section and laid before the Legislative Assembly in accordance with section 45 of the Legislative Assembly Act is deemed to be a general report summarizing the transactions and affairs of the department administered by the Minister for the purposes of section 45 of the Legislative Assembly Act . (4) If a Minister is required to lay the financial statements of a ministry before the Legislative Assembly under any other Act and those financial statements are included in the ministry annual report when it is made public under this Act, the financial statements are deemed to have been laid before the Legislative Assembly for the purposes of that other Act. Accountable organizations 10 (1) In this section, “accountable organization” means (a) a Provincial corporation other than (i) a corporation referred to in section 2.2(4) of the Funds and Agencies Exemption Regulation (AR 128/2002), and (ii) a Provincial corporation that is a subsidiary of another Provincial corporation, (b) a board under the Education Act , or (c) a provincial health agency, regional health authority or provincial health corporation under the Provincial Health Agencies Act . (2) The governing body of an accountable organization must prepare and give to the Minister responsible for the accountable organization a business plan and annual report for each fiscal year, in the form, at a time and containing the information, acceptable to the responsible Minister. (2.1) For the purposes of subsection (2), the Minister responsible for an accountable organization referred to in subsection (1)(c) is the sector Minister responsible for the accountable organization under the Provincial Health Agencies Act . (3) An accountable organization must make the business plan or annual report referred to in subsection (2) publicly available after it is given to the Minister. 2015 cF‑14.7 s10;2012 cE‑0.3 s288;2024 c10 s42;2025 c10 s55 Contents of public accounts 11 The public accounts for a fiscal year must include the following: (a) the Government annual report prepared under section 8, (b) the ministry annual reports prepared under section 9, (c) the reports or statements prepared pursuant to sections 23, 25(3), 28(5), 28.1(4), 30, 56(2), 66(2) and 75 of the Financial Administration Act , and (d) any supplementary schedules, statements, explanations and financial statements that the responsible Minister may require. Fiscal Framework Definitions 11.1 For the purposes of this section and sections 11.2 to 11.7, (a) “actual expense” means total expense, as reported in the consolidated financial statements for a fiscal year, adjusted to exclude dedicated revenue expense and non‑recurring non‑cash expense variations; (b) “actual necessary expense” means the sum of expense, excluding dedicated revenue expense, incurred in relation to all of the following: (i) contingencies under section 24.1 of the Financial Administration Act ; (ii) disasters or emergencies declared by the Executive Council other than in relation to an order under section 24.1 of the Financial Administration Act ; (iii) the Alberta Petrochemicals Incentive Program; (iii.1) the Alberta Carbon Capture Incentive Program; (iii.2) Alberta Fund expense; (iv) settlement of actions or satisfaction of judgments or awards in excess of $500 000 000 arising from civil or administrative proceedings where the related expense was not projected in the consolidated fiscal plan; (c) “actual revenue” means total revenue, as reported in the consolidated financial statements for a fiscal year, adjusted to exclude dedicated revenue and non‑recurring non‑cash revenue variations; (c.1) “Alberta Fund” means the Alberta Fund created by section 11.7(1); (c.2) “Alberta Fund expense” means expense incurred and allocated from the Alberta Fund in relation to one‑time spending initiatives approved by the Treasury Board pursuant to section 11.7(3)(c); (d) “consolidated financial statements” means the consolidated financial statements referred to in section 8(2)(a); (e) “dedicated revenue” means the revenue portion of dedicated revenue and related expense, as projected in the consolidated fiscal plan for a fiscal year or reported in the fiscal reconciliation for a fiscal year, as the context requires; (f) “dedicated revenue expense” means the expense portion of dedicated revenue and related expense, as projected in the consolidated fiscal plan for a fiscal year or reported in the fiscal reconciliation for a fiscal year, as the context requires; (g) “fiscal reconciliation” means the report in respect of the final year‑end results for a fiscal year referred to in section 6(4.1); (h) “non‑recurring non‑cash expense variations” means non‑recurring non‑cash expense projected in the consolidated fiscal plan for a fiscal year or reported in the fiscal reconciliation for a fiscal year, as the context requires; (i) “non‑recurring non‑cash revenue variations” means non‑recurring non‑cash revenue projected in the consolidated fiscal plan for a fiscal year or reported in the fiscal reconciliation for a fiscal year, as the context requires; (j) “projected expense” means total expense, as projected in the consolidated fiscal plan for a fiscal year, adjusted to exclude dedicated revenue expense and non‑recurring non‑cash expense variations; (k) “projected operating expense” means total operating expense, as projected in the consolidated fiscal plan for a fiscal year, adjusted to exclude Alberta Fund expense, dedicated revenue expense and non‑recurring non‑cash expense variations; (l) “projected revenue” means total revenue, as projected in the consolidated fiscal plan for a fiscal year, adjusted to exclude dedicated revenue and non‑recurring non‑cash revenue variations; (m) “Q3 fiscal outlook” means the update of the fiscal outlook for a fiscal year set out in the 3rd report required under section 6(4)(b) or the consolidated fiscal plan for the following fiscal year as permitted under section 6(5), as the case may be. 2023 c3 s9;2024 c4 s6 No projected deficit 11.2 (1) Subject to subsection (2), in the consolidated fiscal plan for a fiscal year, the projected expense must not exceed the projected revenue. (2) The projected expense for a fiscal year may exceed the projected revenue if (a) the projected revenue for the fiscal year is at least $1 000 000 000 less than the projected revenue for the previous fiscal year set out in the Q3 fiscal outlook for that fiscal year, or (b) the projected revenue for the fiscal year is less than the projected expense, excluding any Alberta Fund expense, for the previous fiscal year set out in the Q3 fiscal outlook for that fiscal year. (3) If subsection (2) applies, the deficit shown in the consolidated fiscal plan for that fiscal year must not exceed, (a) where subsection (2)(a) applies, the difference between the projected revenue for the fiscal year and the projected revenue for the previous fiscal year set out in the Q3 fiscal outlook for that fiscal year, (b) where subsection (2)(b) applies, the difference between the projected revenue for the fiscal year and the projected expense, excluding any Alberta Fund expense, for the previous fiscal year set out in the Q3 fiscal outlook for that fiscal year, and (c) where both subsection (2)(a) and (b) apply, the greater of the amounts determined under clauses (a) and (b) of this subsection. 2023 c3 s9;2024 c4 s6 No actual deficit 11.3 (1) Subject to subsection (2), in the consolidated financial statements for a fiscal year, the actual expense must not exceed the actual revenue. (2) The actual expense for a fiscal year may exceed the actual revenue if (a) section 11.2(2) applies, (b) the actual revenue for the fiscal year is at least $500 000 000 less than the projected revenue in the consolidated fiscal plan for that fiscal year, or (c) the actual necessary expense for the fiscal year, excluding any Alberta Fund expense, exceeds the projected expense in relation to contingencies under section 24.1 of the Financial Administration Act in the consolidated fiscal plan for that fiscal year. (3) If subsection (2) applies, the deficit shown in the consolidated financial statements for that fiscal year must not exceed, (a) where subsection (2)(a) applies, the maximum amount of the deficit permitted under section 11.2(3), (b) where subsection (2)(b) applies, the difference between the actual revenue for the fiscal year and the projected revenue in the consolidated fiscal plan for that fiscal year, (c) where subsection (2)(c) applies, the difference between the actual necessary expense for the fiscal year, excluding any Alberta Fund expense, and the projected expense in relation to contingencies under section 24.1 of the Financial Administration Act in the consolidated fiscal plan for that fiscal year, and (d) where more than one of subsection (2)(a), (b) and (c) apply, the sum of the amounts determined under the corresponding clauses (a), (b) and (c) of this subsection. 2023 c3 s9;2024 c4 s6 Application of no actual deficit rules in future fiscal years 11.4 Notwithstanding anything in this Act, section 11.3(2) shall not apply for more than 3 consecutive fiscal years. 2023 c3 s9 Limitations on actual in‑year expense increases 11.5 (1) Subject to subsection (2), the actual expense in the consolidated financial statements for a fiscal year must not exceed the projected expense in the consolidated fiscal plan for that fiscal year. (2) The actual expense for a fiscal year may exceed the projected expense if the actual necessary expense for the fiscal year exceeds the projected expense in relation to contingencies under section 24.1 of the Financial Administration Act in the consolidated fiscal plan for that fiscal year. (3) If subsection (2) applies, the increased expense for the fiscal year must not exceed the difference between the actual necessary expense for the fiscal year and the projected expense in relation to contingencies under section 24.1 of the Financial Administration Act in the consolidated fiscal plan for that fiscal year. 2023 c3 s9 Limitations on projected year‑over‑year operating expense increases 11.6 (1) For the 2023‑24 fiscal year, the projected operating expense in the consolidated fiscal plan must not exceed the amount obtained by applying the following formula: A x {1 + (B + C)} where A is the projected operating expense for the previous fiscal year set out in the Q3 fiscal outlook for that fiscal year; B is the rate of population growth in Alberta for the previous calendar year set out in the Q3 fiscal outlook for the previous fiscal year; C is the percentage change in the Alberta Consumer Price Index for the previous calendar year set out in the Q3 fiscal outlook for the previous fiscal year. (2) For the 2024‑25 fiscal year and subsequent fiscal years, the projected operating expense in the consolidated fiscal plan for the fiscal year must not exceed the amount obtained by applying the following formula: D x {1 + (E + F)} where D is (a) for the 2024‑25 fiscal year, the amount obtained by applying the formula under subsection (1); (b) for the subsequent fiscal years, the amount obtained by applying the formula under this subsection in respect of the previous fiscal year; E is the rate of population growth in Alberta for the previous calendar year set out in the Q3 fiscal outlook for the previous fiscal year; F is the percentage change in the Alberta Consumer Price Index for the previous calendar year set out in the Q3 fiscal outlook for the previous fiscal year. 2023 c3 s9 Alberta Fund and allocation of surplus cash 11.7 (1) The Alberta Fund is created as an account within the General Revenue Fund. (2) The Treasury Board must allocate the surplus cash held in the General Revenue Fund that is generated in respect of a fiscal year, if any, as follows: (a) 50% of the surplus cash is to be allocated, in the proportions determined by the Treasury Board, to the repayment of debt or to the Alberta Heritage Savings Trust Fund; (b) 50% of the surplus cash is to be allocated to the Alberta Fund. (3) The responsible Minister may (a) allocate from the Alberta Fund any amount for the repayment of debt under section 67(2) of the Financial Administration Act , (b) with the approval of the Treasury Board, pay from the General Revenue Fund to the Alberta Heritage Savings Trust Fund any amount allocated from the Alberta Fund, or (c) subject to sections 11.2 to 11.6, with the approval of the Treasury Board, allocate from the Alberta Fund any amount for one‑time spending initiatives. (4) For the purposes of this section, in respect of a fiscal year, (a) the Treasury Board may make interim allocations based on projections of the surplus cash of the General Revenue Fund that will be generated for that fiscal year, and (b) the final allocation must be made in the fiscal reconciliation for that fiscal year based on the actual surplus cash of the General Revenue Fund generated for that fiscal year. 2023 c3 s9;2025 c9 s8 Application Application 12 (1) This Act applies in respect of the 2015‑16 fiscal year and subsequent fiscal years. (2) Repealed 2025 c9 s8. 2015 cF-14.7 s12;2023 c3 s9;2025 c9 s8 Transitional Provisions Transitional 12.1 (1) Section 6 as it read immediately before May 16, 2024 applies only in respect of the 2015‑16 fiscal year through to and including the 2023‑24 fiscal year. (2) Section 6 as it read on May 16, 2024 applies only in respect of the 2024‑25 fiscal year and subsequent fiscal years. 2024 c4 s6;2025 c9 s8 Transitional 12.2 (1) Sections 11.1, 11.2 and 11.3 as they read immediately before May 16, 2024 apply only in respect of the 2023‑24 fiscal year. (2) Sections 11.1, 11.2 and 11.3 as they read on May 16, 2024 apply only in respect of the 2024‑25 fiscal year and subsequent fiscal years. 2024 c4 s6;2025 c9 s8 Transitional 12.3 Sections 11.4 and 11.5 apply only in respect of the 2023‑24 fiscal year and subsequent fiscal years. 2023 c3 s9;2025 c9 s8 Transitional 12.4 (1) Section 11.7 as it read immediately before the coming into force of this section applies only in respect of the 2023‑24 fiscal year. (2) Section 11.7 as it read on the coming into force of this section applies only in respect of the 2024‑25 fiscal year and subsequent fiscal years. 2023 c3 s9;2025 c9 s8 Consequential Amendments and Repeal 13 to 19 (These sections amend other Acts; the amendments have been incorporated into those Acts.) Repeal 20 The Fiscal Management Act , SA 2013 cF‑14.5, is repealed.