Report H: SUPPLEMENTARY TABLES

TABLE H7
NET DEBT SUMMARY ¹

As at March 31,				Actual 1995	Actual 1996	Actual 1997	Revised Forecast 1998	Budget Estimate 1999
				($ millions unless otherwise indicated)
Taxpayer-supported debt
	Provincial government direct 2
		Operating purposes		10,181.1	10,237.1	11,030.5	11,452.3	11,727.3
		Education capital financing purposes
			Schools	2,393.6	2,658.5	2,835.1	2,925.2	3,112.9
			Post-secondary institutions	1,237.5	1,331.8	1,394.7	1,406.0	1,379.4
				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
	Economic Development Crown      corporations and agencies:
		British Columbia Ferry Corporation		432.8	502.0	684.9	801.2	913.1
		BC Transportation Financing Authority		275.9	590.4	915.6	1,009.7	1,350.9
		British Columbia Transit		1,449.5	1,505.5	1,537.2	1,566.2	1,614.2
		Other 3		24.1	32.0	48.4	48.4	48.3
				2,182.3	2,629.9	3,186.1	3,425.5	3,926.5
	Social and government services      Crown corporations and agencies: 2
		British Columbia Assessment Authority		5.5	7.0	6.2	6.2	6.2
		British Columbia Buildings Corporation		698.1	719.1	735.4	764.7	782.6
		British Columbia Regional Hospital Districts Financing Authority		1,255.6	1,331.1	1,373.0	1,359.3	1,456.3
		Capital project certificate of approval program 2		62.0	67.6	58.2	22.2	22.2
		British Columbia Systems Corporation		25.9	21.6	19.3	-- 4	--
				2,047.1	2,146.4	2,192.1	2,152.4	2,267.3
	Other fiscal agency loans:
		Greater Vancouver Sewerage and Drainage District		187.0	175.1	-- 5	--	--
		Greater Vancouver Water District		137.1	131.1	-- 5	--	--
		Universities and Colleges -- fiscal agency loans		173.6	164.3	154.3	147.9	142.5
		Local Governments		3.3	3.3	3.3	3.3	3.3
				501.0	473.8	157.6	151.2	145.8
	Other guarantees 6			398.7	287.6	228.5	210.3	214.5
	Non-guaranteed debt 7			96.6	101.4	120.4	128.0	135.8
	Less Internally held funds 8			(0.7)	(0.8)	(0.8)	(0.8)	(0.8)
Total taxpayer-supported debt				19,037.2	19,865.7	21,144.2	21,850.1	22,908.7
Self-supporting debt
	Commercial Crown corporations      and agencies:
		British Columbia Hydro and Power Authority		7,662.3	7,592.3	7,477.2	7,253.5	7,235.5
		British Columbia Railway Company		310.9	326.1	390.6	453.3	537.9
		Skeena Cellulose		--	--	--	120.0	245.0
		Columbia Power Corporation		--	--	3.1	--	--
				7,973.2	7,918.4	7,870.9	7,826.8	8,018.4
	Warehouse borrowing program			--	895.2	100.0	200.0	200.0
	Non-guaranteed debt 9			39.4	33.4	124.9	120.6	116.3
Total self-supporting debt				8,012.6	8,847.0	8,095.8	8,147.4	8,334.7
Total provincial debt				27,049.8	28,712.7	29,240.0	29,997.5	31,243.4
Total provincial debt as a per cent of GDP				27.4%	28.2%	28.2%	28.1%	29.0%
Taxpayer-supported debt as a per cent of GDP				19.3%	19.5%	20.4%	20.5%	21.2%

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. Figures for earlier years have been restated to conform with the presentation used for 1999.
2	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 provincial government direct debt. Figures for earlier years have been restated to conform with the presentation used for 1999.
3	Includes the British Columbia Housing Management Commission, the Pacific Racing Association and Victoria Line Ltd.
4	As of March 10, 1998 the provincial government assumed the debt of the British Columbia Systems Corporation.
5	Outstanding debt of the Greater Vancouver Sewerage and Drainage District and the Greater Vancouver Water District was defeased on April 1, 1996. Funding requirements for these districts are provided through the Municipal Finance Authority of British Columbia.
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. Includes loan guarantee provisions.
7	Includes debt of the Pacific National Exhibition, Provincial Rental Housing Corporation, BC Transportation Financing Authority, British Columbia Ferry Corporation and Okanagan Valley Tree Fruit Authority 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.
8	Amounts held as investments or cash for relending by the consolidated revenue fund and Crown corporations and agencies.
9	Includes debt of the British Columbia Lottery Corporation, Liquor Distribution Branch, British Columbia Railway Company and Columbia Basin Power Company (a joint venture of the Columbia Power Corporation and the Columbia Basin Trust Power 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.

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