| SUMMARY FINANCIAL STATEMENT
Commencing with the 1995/96 budget, the government presented a financial
statement that combines the estimated annual surplus or deficit of government
ministries and special offices with Crown entities.
The statement provides an estimate of the overall surplus or deficit
of the government and its Crown corporations and agencies. The Summary Financial
Statement of Revenue and Expenditure, like the Consolidated Revenue Fund
Statement of Revenue and Expenditure, is prepared on a basis consistent
with the government's accounting policies.
The following table provides the estimated deficit on the summary statement
basis for the 1997/98 and 1998/99 fiscal years.
| |
1997/98
Budget
Estimate |
1997/98
Revised
Forecast |
1998/98
Budget
Estimate |
| |
($ millions) |
| Consolidated Revenue Fund (CRF) Surplus (Deficit) |
(185) |
(169) |
(95) |
| Government Organizations and Enterprises |
| |
• |
Net earnings of Crown Organizations and Enterprises providing contributions
to CRF revenue 1 |
1,453 |
1,420 |
1,577 |
| |
• |
Less contributions included in CRF revenue |
(1,401) |
(1,288) |
(1,549) |
| |
52 |
132 |
28 |
| |
• |
Net Earnings (Losses) of Other Crown Organizations and Enterprises 2 |
(315) |
(157) |
(442) |
| |
• |
Accounting Policy and Other Adjustments 3 |
(438) |
(357) |
(440) |
| |
|
Net Adjustment to CRF Surplus (Deficit) |
(701) |
(382) |
(854) |
| Summary Financial Statement Surplus (Deficit) |
(886) |
(551) |
(949) |
| 1 |
Represents, primarily, earnings of the British Columbia Lottery
Corporation, British Columbia Liquor Distribution Branch, British Columbia
Hydro and Power Authority, British Columbia Railway Company and British
Columbia Buildings Corporation. |
| 2 |
Represents, primarily, estimated losses of Forest Renewal
BC and the British Columbia Ferry Corporation. |
| 3 |
Represents, primarily, the write-off of highway infrastructure
expenditures of the BC Transportation Financing Authority. |
|
