In its 2019 annual report, released Thursday, the Alberta Investment Management Corporation (AIMCo) admits its investment returns failed to meet the benchmark and its clients' expectations.
Alberta’s auditor general says improved oversight is needed to monitor a program that provides financial assistance to thousands of people living in poverty.The latest report from Alberta's Auditor General Doug Wylie examined the performance of Alberta's social assistance program, the finances of post-secondary institutions and care delivery for chronic disease patients.
The call for improved oversight of Income Support is included in Wylie's latest report, released Tuesday. The report also examines two other areas: the financial operations of Alberta's post-secondary institutions, and challenges in meeting the needs of patients living with chronic disease.Alberta's Income Support program provides financial help to people who can't meet their basic needs for food, clothing and shelter.
The program supported an average of 46,536 cases per month in 2022-23, an increase of 7.3 per cent from the year before. Wylie said the department has promised to establish a new performance management framework for the program that would examine how the monthly payments compare to the cost of living in Alberta, and track how long people rely on the program.Wylie's audit also examined financial systems at post-secondary institutions across the province
Wylie's report added that a handful of other smaller post-secondary institutions around the province had outstanding recommendations on the books from previous audits.