Mr. Speaker, during this process we will not compromise accountability. We believe it is critical to strike the right balance between the rapid delivery of stimulus measures and the appropriate due diligence and transparency. We have established clear conditions for the use of this vote to ensure the appropriate checks and balances are in place.
This fund can only be used for economic action plan initiatives announced in budget 2009, which has been passed by this Parliament. Every initiative funded from this vote requires approval of Treasury Board. Existing policy requirements on accountability and reporting must be met. For example, grants and contribution payments are subject to the transfer payment policy. The use of this vote is time limited as well. Funds can only be allocated between the dates of April 1 and June 30, 2009.
This economic crisis is an example of why government needs the ability to quickly and prudently respond to events that we see developing. Today because of the government's drive for more efficient and effective management within the public service, departments are better equipped than ever before to manage this process.
Over the past three years we have improved financial management standards across government. Departments now have independent internal audit committees that include members from outside the government. There are chief financial officers in every department. In addition, under the management accountability framework, the state of financial management and control within departments is assessed annually by the Treasury Board Secretariat.
Based on these assessments, large departments and agencies representing more than 90% of government spending have improved in areas of financial management and controls. Recent financial management and control indicators rated “acceptable” and “strong” are now up to 90% from 59% in the 2006-07 fiscal year. This government believes that responsiveness and responsibility should define the public service. This is the vision that has guided the transformations we have put into place here in Ottawa. This is truly the way forward.
This economic crisis is not of our making, but it is a true test. This is truly where the rubber meets the road. This is why we have shown Canadians that we are managing the economy and society in a new way to ensure that ongoing competitiveness and prosperity is given to every Canadian.