| |
Actual
1994/95 1 |
Actual
1995/96 1 |
Actual
1996/97 1 |
Revised
Forecast
1997/98 |
Budget
Estimate
1998/99 |
| |
($ millions) |
| Revenue 2 |
19,512.2 |
19,712.0 |
20,126.9 |
20,210.0 |
20,441.0 |
| Expenditure |
19,958.6 |
20,067.4 |
20,479.1 |
20,379.0 |
20,536.0 |
| Surplus (Deficit) |
(446.4) |
(355.4) |
(352.2) |
(169.0) |
(95.0) |
Net Receipts (Disbursements) from
Financing and Working Capital
Transactions 3 |
272.2 |
145.4 |
(420.0) |
(215.4) |
(300.0) |
Decrease (Increase) in Cash and
Short-Term Investments |
250.2 |
154.0 |
(21.2) |
(37.4) |
120.0 |
Net (Increase) Decrease in
Government Direct Operating Debt |
76.0 |
(56.0) |
(793.4) |
(421.8) |
(275.0) |
| Net Debt at Year End: 4 |
| |
Provincial Government Direct 5 |
| |
|
Operating Purposes |
10,181.1 |
10,237.1 |
11,030.5 |
11,452.3 |
11,727.3 |
| |
|
Education Capital Financing Purposes |
3,631.1 |
3,990.3 |
4,229.8 |
4,331.2 |
4,492.3 |
| |
|
Total Provincial Government Direct |
13,812.2 |
14,227.4 |
15,260.3 |
15,783.5 |
16,219.6 |
| |
Crown Corporation and Agency 5 |
12,201.9 |
12,693.9 |
13,248.3 |
13,403.9 |
14,211.4 |
| |
Other Fiscal Agency Loans |
501.0 |
473.8 |
157.6 |
151.2 |
145.8 |
| |
Warehouse Borrowing Program |
-- |
895.2 |
100.0 |
200.0 |
200.0 |
| |
Other Debt 6 |
534.7 |
422.4 |
473.8 |
458.9 |
466.6 |
| Total Net Debt at Year End |
27,049.8 |
28,712.7 |
29,240.0 |
29,997.5 |
31,243.4 |
| 1 |
To conform to the 1998/99 estimates presentation, revenue
are expenditure amounts have been restated to reflect changes to accounting
policy with respect to earnings of sinking funds held for government direct
operating debt; non-cash exchanges of Crown land; and allowances for doubtful
revenue accounts. The effect of these restatements reduces revenue and expenditure
by $35.1 million in 1994/95; $88.6 million in 1995/96; and $124.5 million
in 1996/97. These restatements do not cause a change in the annual deficits. |
| 2 |
Revenue amounts exclude dedicated revenue collected on behalf
of, and transferred to, Crown corporations and agencies. |
| 3 |
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, and non-cash transactions including allowances
for doubtful accounts, capital depreciation and amortization of reductions
to unfunded pension liabilities. They do not cause a change in the annual
deficit but only a change in the composition of the provincial government's
assets and liabilities. |
| 4 |
Net of sinking funds and unamortized discount balances. |
| 5 |
Effective April 1, 1998, debt of the British Columbia School
Districts Capital Financing Authority, the British Columbia Educational
Institutions Capital Financing Authority, and debt of the capital project
certificate of approval program related to education capital financing,
is included as part of the provincial government direct debt. Figures for
earlier years have been restated to conform with the presentation used for
fiscal 1998/99. |
| 6 |
Includes student assistance loans, loan guarantees to agricultural
producers and guarantees issued or debt assumed under economic development
assistance programs and the former British Columbia mortgage assistance
program. Also includes non-guaranteed debt of the Columbia Basin Power Company,
British Columbia Railway Company, Provincial Rental Housing Corporation,
BC Transportation Financing Authority, and other agencies. |
