| |
Net Debt 1
Outstanding
at March 31,
1997 |
1997/98
Net
Debt
Change |
Forecast
Net Debt 1
Outstanding
at March 31,
1998 |
1998/99
Transactions |
Forecast
Net Debt 1
Outstanding
at March 31,
1999 |
| |
New
Borrowing 2 |
Retirement Provision 3 |
Net Change |
| |
($ millions) |
| Taxpayer-supported debt |
| |
Provincial government direct 4 |
| |
|
Operating purposes |
11,030.5 |
421.8 |
11,452.3 |
2,882.3 |
2,607.3 |
275.0 |
11,727.3 |
| |
|
Education capital financing purposes |
4,229.8 |
101.4 |
4,331.2 |
423.2 |
262.1 |
161.1 |
4,492.3 |
| |
|
|
Total provincial government direct |
15,260.3 |
523.2 |
15,783.5 |
3,305.5 |
2,869.4 |
436.1 |
16,219.6 |
| |
Economic development Crown corporations and agencies |
3,186.1 |
239.4 |
3,425.5 |
974.6 |
473.6 |
501.0 |
3,926.5 |
| |
Social and government services Crown corporations and agencies |
2,192.1 |
(39.7) |
2,152.4 |
307.7 |
192.8 |
114.9 |
2,267.3 |
| |
Other fiscal agency loans |
157.6 |
(6.4) |
151.2 |
1.3 |
6.7 |
(5.4) |
145.8 |
| |
Other guarantees 5 |
228.5 |
(18.2) |
210.3 |
4.2 6 |
-- |
4.2 |
214.5 |
| |
Non-guaranteed debt 7 |
120.4 |
7.6 |
128.0 |
7.8 |
-- |
7.8 |
135.8 |
| |
Less Internally held funds 8 |
(0.8) |
-- |
(0.8) |
-- |
-- |
-- |
(0.8) |
| |
Total taxpayer-supported debt |
21,144.2 |
705.9 |
21,850.1 |
4,601.1 |
3,542.5 |
1,058.6 |
22,908.7 |
| Self-supporting debt |
| |
Commercial Crown corporations and agencies |
7,870.9 |
(44.1) |
7,826.8 |
807.7 |
616.1 |
191.6 |
8,018.4 |
| |
Warehouse borrowing program |
100.0 |
100.0 |
200.0 |
-- |
-- |
-- |
200.0 |
| |
Non-guaranteed debt 9 |
124.9 |
(4.3) |
120.6 |
-- |
4.3 |
(4.3) |
116.3 |
| |
Total self-supporting debt |
8,095.8 |
51.6 |
8,147.4 |
807.7 |
620.4 |
187.3 |
8,334.7 |
| TOTAL PROVINCIAL DEBT |
29,240.0 |
757.5 |
29,997.5 |
5,408.8 |
4,162.9 |
1,245.9 |
31,243.4 |
| 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 payable. Figures
for earlier years have been restated to conform with the presentation used
for 1998/99. |
| 2 |
New long-term borrowing plus net change in short-term debt. |
| 3 |
Sinking fund contributions, sinking fund earnings and net
maturities of long-term debt (after deduction of sinking fund balances for
maturing issues). |
| 4 |
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 1998/99. |
| 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 |
Other guarantees do not represent direct obligations of the
government except in the event of default by the borrowers who received
the guarantees. There is no actual borrowing requirement until a default
occurs. A net increase in the government's potential liability is expected
because new guarantees issued exceed expiring guarantees. |
| 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. |
