Budget 97 Reports
BC Budget 97
BC Ministry of Finance and Corporate Relations
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The following electronic version is for informational purposes only. The printed version remains the official version. |
BUDGET 97: REPORTS Ministry of Finance and Corporate Relations Province of British Columbia |
| Actual 1993/94 |
Actual 1994/95 1 |
Actual 1995/96 1 |
Revised Forecast 1996/97 |
Budget Estimate 1997/98 |
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| ($ millions) | ||||||
| Revenue 2 | 18,002.5 3 | 19,547.3 | 19,800.6 | 20,207.0 | 20,286.0 | |
| Expenditure | 18,912.9 | 19,960.7 | 20,148.0 | 20,602.0 | 20,471.0 | |
| Surplus (Deficit) | (910.4) | (413.4) | (347.4) | (395.0) | (185.0) | |
| Net Receipts (Disbursements) from Financing and Working Capital Transactions 4 |
17.5 | 239.2 | 137.4 | (467.0) | (345.0) | |
| Decrease (Increase) in Cash and Short-Term Investments |
(394.7) | 250.2 | 154.0 | 25.0 | -- | |
| Net (Increase) Decrease in Government Direct Debt |
(1,287.6) | 76.0 | (56.0) | (837.0) | (530.0) | |
| Net Debt at Year End: 5 | ||||||
| Government Direct | 10,257.1 | 10,181.1 | 10,237.1 | 11,074.1 | 11,604.1 | |
| Crown Corporation and Agency | 14,635.4 | 15,833.0 | 16,684.2 | 17,661.8 | 18,649.4 | |
| Other Fiscal Agency Loans | 479.1 | 501.0 | 473.8 | 155.4 | 133.3 | |
| Warehouse Borrowing Program | -- | -- | 895.2 | 100.0 | 100.0 | |
| Other Debt 6 | 545.1 | 607.3 | 485.2 | 432.2 | 381.0 | |
| Total Net Debt at Year End | 25,916.7 | 27,122.4 | 28,775.5 | 29,423.6 | 30,867.8 | |
| 1 | To conform to the 1997/98 budget estimate, the expenditure and deficit figures for 1994/95 and 1995/96 have been restated to reflect an accounting policy change in respect of tangible capital assets. Under this policy change the acquisition of certain capital assets is no longer charged to expenditure, rather these purchases are charged to capital asset accounts which are then in turn amortized or depreciated over the estimated useful life of the asset. The effect of this restatement is to reduce expenditures and the deficit by $33 million in 1994/95 and by $22 million in 1995/96. |
| 2 | Revenue amounts exclude dedicated revenue collected on behalf of, and transferred to, Crown corporations and agencies. |
| 3 | For comparative purposes, revenue has been restated to reflect an accounting change in 1993/94 to record personal income tax on an accrual basis. Revenue includes actual and estimated amounts due to the province regardless of when the cash is received. |
| 4 | Financing and working capital transactions represent either a source or use of funds, such as the payment or collection of loans and accounts payable/receivable. They do not cause a change in the annual surplus (deficit) but only a change in the composition of the provincial government's assets and liabilities. |
| 5 | Net of sinking funds and unamortized discount balances. Figures for earlier years have been restated to conform with the presentation used for 1997/98. |
| 6 | Includes student assistance loans, loan guarantees to agricultural producers and guarantees issued under economic development assistance programs and the former British Columbia mortgage assistance program. Also includes non-guaranteed debt of the British Columbia Lottery Corporation, Liquor Distribution Branch, British Columbia Railway Company (Vancouver Wharves Ltd.), the Pacific National Exhibition and Provincial Rental Housing Corporation. Beginning in 1995, the non-guaranteed debt of school districts, hospital districts and post-secondary institutions is included as part of provincial debt due to accounting changes. |
BC Ministry of Finance and Corporate Relations
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