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

TABLE H7
PROVINCIAL NET DEBT SUMMARY 1
As at March 31, Actual
1994		 Actual
1995		 Actual
1996		 Revised
Forecast
1997		 Budget
Estimate
1998
  ($ millions unless otherwise indicated)
Purposes:
  Provincial Government Direct 10,257.1 10,181.1 10,237.1 11,074.1 11,604.1
  Commercial Crown Corporations
    and Agencies:
    British Columbia Hydro and
    Power Authority		 7,614.8 7,662.3 7,592.3 7,642.9 7,731.8
    British Columbia Railway Company 287.9 310.9 326.1 403.0 386.3
    WLC Developments Ltd. 1.5 -- -- -- --
  7,904.2 7,973.2 7,918.4 8,045.9 8,118.1
  Economic Development Crown
        Corporations and Agencies:
    British Columbia Ferry Corporation 418.0 432.8 502.0 633.3 782.8
    British Columbia Transit 1,370.5 1,449.5 1,505.5 1,555.6 1,579.2
    BC Transportation Financing Authority 73.0 275.9 590.4 943.9 1,225.3
    Other 2 20.4 24.1 32.0 45.7 64.5
  1,881.9 2,182.3 2,629.9 3,178.5 3,651.8
  Social and Government Services
        Crown Corporations
        and Agencies:
    British Columbia Assessment Authority 5.9 5.5 7.0 6.2 6.2
    British Columbia Buildings Corporation 612.3 698.1 719.1 747.2 754.1
    British Columbia Educational Institutions
    Capital Financing Authority		 958.1 1,117.1 1,240.4 1,351.4 1,391.0
    British Columbia Regional Hospital
    Districts Financing Authority		 1,079.7 1,255.6 1,331.1 1,371.5 1,522.9
    British Columbia School Districts
    Capital Financing Authority		 1,787.3 2,257.0 2,506.5 2,792.5 3,038.9
    Capital Project Certificate of
    Approval Program 3		 409.6 319.0 311.0 150.1 150.1
    British Columbia Systems Corporation 26.0 25.9 21.6 19.3 17.1
  4,878.9 5,678.2 6,136.7 6,438.2 6,880.3
  Other Fiscal Agency Loans:
    Greater Vancouver Sewerage and
    Drainage District		 197.5 187.0 175.1 -- 4 --
    Greater Vancouver Water District 130.2 137.1 131.1 -- 4 --
    Universities and Colleges 148.3 173.6 164.3 152.4 130.3
    Local Governments 3.1 3.3 3.3 3.0 3.0
  479.1 501.0 473.8 155.4 133.3
  Less Amounts Held as Investments/
    Cash for Relending by the
    Consolidated Revenue Fund and
    Crown Corporations and Agencies:		 29.6 0.7 0.8 0.8 0.8
  Warehouse Borrowing Program -- -- 895.2 100.0 100.0
  Government, Crown Corporation
    and Agency Debt Total		 25,371.6 26,515.1 28,290.3 28,991.3 30,486.8
  Other Guarantees 5 425.5 398.7 287.6 227.4 180.0
  Total Direct and Guaranteed Debt 25,797.1 26,913.8 28,577.9 29,218.7 30,666.8
  Non-Guaranteed Debt 6 119.6 208.6 197.6 204.9 201.0
  Total Provincial Debt 25,916.7 27,122.4 28,775.5 29,423.6 30,867.8
  Taxpayer-Supported Debt 7 17,981.1 19,117.7 19,934.3 21,254.2 22,630.6
  Total Provincial Debt
    as a per cent of GDP		 28.4% 27.4% 27.8% 28.2% 28.5%
  Taxpayer-Supported Debt
    as a per cent of GDP		 19.7% 19.3% 19.3% 20.3% 20.9%

1  Net debt is after deduction of sinking funds and unamortized discounts, and excludes accrued interest. Government direct and fiscal agency accrued interest is reported in the government's accounts as an accounts payable.
2  Includes the British Columbia Housing Management Commission, the Pacific Racing Association and Victoria Line Ltd.
3  Short-term borrowings obtained by financing authorities under the Certificate of Approval Program are used as interim financing of capital construction and are eventually converted to long-term debt.
4  Outstanding debt of the Greater Vancouver Sewerage and Drainage District and the Greater Vancouver Water District was defeased on April 1, 1996. The districts will meet future funding requirements through the Municipal Finance Authority of British Columbia.
5  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. Includes loan guarantee provisions.
6  Includes 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 that is not guaranteed by the provincial government. Although not a direct obligation of the provincial government, this debt is included as part of total provincial debt because it is incurred by a government body. Figures for 1995 have been restated to conform with the presentation used for 1998.
7  Excludes debt of commercial Crown corporations and agencies, funds held under the province's warehouse borrowing program, and non-guaranteed debt of the British Columbia Lottery Corporation, Liquor Distribution Branch and British Columbia Railway Company (Vancouver Wharves Ltd.).

Budget 97 Reports

BC Budget 97

BC Ministry of Finance and Corporate Relations

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