Legislative Assembly of Alberta the 30Th Legislature First Session
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Legislative Assembly of Alberta The 30th Legislature First Session Standing Committee on the Alberta Heritage Savings Trust Fund Friday, June 21, 2019 8:30 a.m. Transcript No. 30-1-1 Legislative Assembly of Alberta The 30th Legislature First Session Standing Committee on the Alberta Heritage Savings Trust Fund Gotfried, Richard, Calgary-Fish Creek (UCP), Chair Orr, Ronald, Lacombe-Ponoka (UCP), Deputy Chair Allard, Tracy L., Grande Prairie (UCP) Eggen, David, Edmonton-North West (NDP) Getson, Shane C., Lac Ste. Anne-Parkland (UCP) Glasgo, Michaela L., Brooks-Medicine Hat (UCP) Irwin, Janis, Edmonton-Highlands-Norwood (NDP) Jones, Matt, Calgary-South East (UCP) Nielsen, Christian E., Edmonton-Decore (NDP) Office of the Auditor General Participants W. Doug Wylie Auditor General Nelson Robe-From Principal Support Staff Shannon Dean Clerk Stephanie LeBlanc Acting Law Clerk Trafton Koenig Parliamentary Counsel Philip Massolin Manager of Research and Committee Services Sarah Amato Research Officer Nancy Robert Research Officer Michael Kulicki Committee Clerk Jody Rempel Committee Clerk Aaron Roth Committee Clerk Karen Sawchuk Committee Clerk Rhonda Sorensen Manager of Corporate Communications Danielle Antoniuk Communications Consultant Jeanette Dotimas Communications Consultant Janet Laurie Communications Consultant Tracey Sales Communications Consultant Janet Schwegel Managing Editor of Alberta Hansard Transcript produced by Alberta Hansard Standing Committee on the Alberta Heritage Savings Trust Fund Participants Ministry of Treasury Board and Finance Athana Mentzelopoulos, Deputy Minister Stephen J. Thompson, Executive Director, Capital Markets Alberta Investment Management Corporation Dale MacMaster, Chief Investment Officer Kevin Uebelein, Chief Executive Officer June 21, 2019 Heritage Savings Trust Fund HS-1 8:30 a.m. Friday, June 21, 2019 Mr. Kulicki: No need for seconders. Title: Friday, June 21, 2019 hs [Mr. Gotfried in the chair] The Chair: Okay. No need for seconders. Oh. No seconders required in the committee. All in favour? Any opposed? The motion The Chair: Good morning. I would like to call this meeting to order is carried. Thank you. and welcome everyone to the first meeting of this committee of the In terms of committee orientation, if participation in committee 30th Legislature. meetings is via teleconference, we need to move that. Section 6 of I’m Richard Gotfried, MLA for Calgary-Fish Creek and chair of the Legislative Assembly Act permits participation in committee the committee. I would now ask everyone at the table to introduce meetings “by means of telephone or other communication facilities themselves, beginning with the deputy chair, to my right. that permit all Members participating in the meeting to hear each other.” The committee rooms are equipped to facilitate meeting Mr. Orr: Good morning. Ron Orr, MLA, Lacombe-Ponoka. participation via teleconference, and committees have a choice of Mr. Jones: Good morning. Matt Jones, MLA, Calgary-South East. passing a motion, which must be passed unanimously, to approve meeting attendance via teleconference for the duration of this Mrs. Allard: Good morning. Tracy Allard, MLA for Grande Legislature. A motion to approve teleconference attendance for the Prairie. duration of the Legislature does not preclude the committee from determining that members must attend specific meetings in person. Ms Glasgo: Michaela Glasgo, MLA, Brooks-Medicine Hat. In those cases a motion would be moved at the end of a particular Mr. Getson: Shane Getson, MLA, Lac Ste. Anne-Parkland. meeting, requesting that all members attend the subsequent meeting in person. Mr. MacMaster: I’m Dale MacMaster, chief investment officer Would a member be prepared to move that with AIMCo. for the duration of the 30th Legislature the Standing Committee on the Alberta Heritage Savings Trust Fund permit committee Mr. Uebelein: Kevin Uebelein, CEO of AIMCo. members to participate by teleconference, subject to the proviso that the committee may require members’ attendance at a Mr. Thompson: Steve Thompson, executive director of capital particular meeting upon passage of a motion to that effect. markets with Treasury Board and Finance. Mr. Getson: I would so move. Ms Mentzelopoulos: Athana Mentzelopoulos, deputy minister, Treasury Board and Finance. The Chair: Moved by Member Getson. Seconded by Member Jones. Mr. Robe-From: Nelson Robe-From, principal with the office of the Auditor General. Mr. Kulicki: No seconds. Member Irwin: Janis Irwin, MLA, Edmonton-Highlands-Norwood. The Chair: Oh, no seconds. Sorry. I’ll get used to that. Any discussion? All in favour? Any opposed? The motion is Mr. Nielsen: Good morning, everyone. Chris Nielsen, MLA for carried unanimously. Thank you. Edmonton-Decore. We’ve had a new addition to our team here this morning. Would the member please introduce himself for the record? Ms Antoniuk: Good morning. Danielle Antoniuk, LAO communications. Mr. Eggen: Good morning. My name is David Eggen. I’m the Ms Laurie: Good morning. Janet Laurie, communications services. MLA for Edmonton-North West. Mr. Koenig: Good morning. I’m Trafton Koenig with the The Chair: Thank you, Mr. Eggen. Parliamentary Counsel office. For your information Standing Order 56(2.1) outlines a process for substitution of committee members. Dr. Massolin: Hello. Philip Massolin, manager of research and A temporary substitution in the membership of a standing or committee services. special committee may be made upon written notification signed by the original Member and filed with the Clerk and Committee Mr. Kulicki: Good morning. Michael Kulicki, committee clerk. Chair, or through an email communication sent directly from the original Member to the Clerk and Committee Chair, provided The Chair: Great. Thank you. such notice is given Before we turn to the business at hand, a few operational items. (a) on a business day, not less than 24 hours prior to the Please note that the microphones are operated by Hansard staff, so meeting for the substitution of the Chair or Deputy there’s no need for members to turn them on or off. Please set your Chair, and cellphones and other devices to silent for the duration of the (b) prior to the scheduled start of the meeting for the meeting. Committee proceedings are being live streamed on the substitution of any other Member. Internet and broadcast on Alberta Assembly TV. Meeting A link to an e-mail template can be found on the committee portal transcripts and archived video and audio streams of the proceedings through OurHouse, or the committee clerk can provide the template are obtained via the Legislative Assembly website. upon request. When substitutions occur, it is the responsibility of Are there any changes or additions to the draft agenda? If not, the original committee member to ensure that the substitute has would a member like to move that the agenda for the June 21, 2019, been provided with all the necessary meeting material. You are meeting of the Standing Committee on the Alberta Heritage reminded that members of the Legislature who are not committee Savings Trust Fund be adopted as distributed? Moved by Member members or official substitutes may still attend and participate in Allard. Seconded by Member Glasgo. the meetings, but they may not move motions or vote. HS-2 Heritage Savings Trust Fund June 21, 2019 Now, with respect to the mandate and meeting schedule, the evaluation of the assets of the fund. We also ensure that the financial mandate for this committee is found in the Alberta Heritage Savings statements are fairly presented in accordance with public-sector Trust Fund Act, a copy of which is available on the committee’s accounting standards. Beyond that, we also have a performance audit internal website. A brief summary of the mandate was also covered mandate, and the Auditor General under the AG Act has the ability to in the e-mail from the committee clerk. As noted, the committee’s conduct performance audits that look at the efficiency, effectiveness, primary functions are to review the overall performance of the fund, and economy of processes at both AIMCo and Treasury Board and to approve the annual report, and to receive the quarterly reports, Finance, but at the highest level the audits that we’ve been conducting which usually means at least four meetings per year. The schedule have been opinions on the financial statements. of committee meetings tends to follow the reporting cycle of the I think I’d leave it with that. If there are any questions. fund, meaning that meetings are generally held in March, June, September, and January. Additionally, the committee holds a public The Chair: Are there any questions for the office of the Auditor meeting every year, which is generally held in the fall. I will have General? more to say about this under item 7 of the agenda, which we’ll get Seeing none, thank you very much, Mr. Robe-From, for that and to later this morning. for the oversight of the particular operations that we are charged Meetings are held at the call of the chair. Generally the committee with overseeing. clerk will contact members to determine their availability for a The Alberta heritage savings trust fund third-quarter report for number of dates, and we’ve been pretty good on polling people to 2018-2019 was released on February 27, 2019. Committee ensure we try to meet, obviously, the challenges of late-night members were sent notification of its release, and the report was sittings and various other things. Meeting notices are e-mailed to posted to the committee’s internal website. As mentioned, the members once a meeting date and time are set, and briefing Alberta Heritage Savings Trust Fund Act mandates that one of the materials are usually posted on the committee’s internal website a functions of the committee is to receive and review quarterly reports few days before the meeting. on the operations and results of the heritage fund.