The program is managed on a self-financing basis. Revenue in excess of the funds required for current expenditures and future silviculture obligations is returned to the province s general revenue fund. Forecasts In line with the goals of the program, the ministry will continue to make timber available as competitive sales to loggers and small sawmills, and as bid proposal sales to remanufacturers and specialty plants. The account was established jointly by the Governments of Canada and British Columbia in 1988, to help offset the reduction in timber supply and the loss of forestry jobs caused by the creation of South Moresby National Park Reserve. An estimated 147,000 hectares were removed from the managed forest in the area as a result of the park s creation.
Negotiations are underway to convert the account into a long-term fund.
The funds are intended to supplement rather than replace ongoing forestry programs. This allows the program to be more sensitive to the needs of the local communities and the Islands forests. Projects may be undertaken on any productive lands committed to long-term forest management, such as provincial timber supply areas and tree farm licences. Projects can also occur on private, First Nations, municipal or federal lands. Eligible projects include communications, forest inventory, silviculture, research, extension and demonstration, and implementation.