The Province of British Columbia’s Minister of Finance is responsible for the Trust.
Several documents outline the roles and responsibilities of the Trust and the Province. These include the 1995 Columbia Basin Trust Act and Financial Agreement. We also follow the provincial taxpayer accountability principles.
A Memorandum of Understanding clarifies the relationship with the Province and the Trust’s dual accountability to both residents and the Province.
- We consult with residents to set our goals and priorities.
- We make decisions related to our investments and spending activities without direction from the Province.
- We ensure the Province is informed and consulted in a number of areas. For example, we prepare a service plan and annual report. We also work with the Province to set priority actions for the coming year in a mandate letter.