STATEMENTS:
I Summary of Borrowing
Requirements
II Comparative Summary of
Current and Related Revenues
III Summary of Current and
Capital Account Expenditures
IV Summary of Current
Account Expenditures
V Summary of Capital Account
Expenditures
VI Summary of Related
Revenues and Expenditures by Main Object and Sector
EXHIBITS:
I Selected Economic
Statistics 1993-1996
II Estimated Provincial and
Federal Revenues 1997-98 (Estimates) and 1996-97 (Revised)
III Current and Capital
Revenues by Provincial and Federal Sources 1993-94 to 1997-98 .
IV Expenditure Summary
1997-98 (Estimated) and 1996-97 (Revised)
V Public Sector Debt as at
March 31, 1993-1997
VI Summary and Chart -
Where the Money Comes From
VII Summary and Chart -
Where the Money Goes
VIII Summary and Chart -
Gross Capital Account Expenditures
IX Summary and Chart -
Gross Government Expenditures
X Summary of Budgetary
Financing Sources
XI Summary of Salary Costs
by Department
XII Estimated Interest and
Debt Retirement 1997-98
XIII Details of Capital
Expenditures
STATEMENT I NEWFOUNDLAND AND LABRADOR SUMMARY OF BORROWING REQUIREMENTS 1997-98 and 1996-97 (Revised) 1997-98 Estimates 1996-97 Revised ($000) ($000) ($000) ($000) BUDGETARY REQUIREMENTS Current Account: Gross Expenditure 3,136,740 3,205,893 Related Revenues 215,819 172,443 --------- --------- Net Expenditure 2,920,921 3,033,450 Provincial and Federal Revenues 3,031,400 3,134,960 --------- --------- Financial Contribution (110,479) (101,510) Capital Account: Gross Expenditure 214,518 239,167 Related Revenues 113,728 108,466 --------- --------- Net Expenditure 100,790 130,701 Other: Contingency Reserve 30,000 - --------- -------- TOTAL BUDGETARY REQUIREMENTS 20,311 29,191 --------- -------- NON-BUDGETARY TRANSACTIONS Debt Retirement: Redemptions (See Appendix II) 159,821 272,005 Sinking Funds (See Appendix II) 45,831 46,076 -------- -------- Total Debt Retirement 205,652 318,081 Retirement of Pension Liabilities 196,000 - --------- -------- TOTAL NON-BUDGETARY TRANSACTIONS 401,652 318,081 --------- -------- TOTAL BORROWING REQUIREMENTS 421,963 347,272 ========= ========
STATEMENT II COMPARATIVE SUMMARY OF CURRENT AND RELATED REVENUES 1997-98 and 1996-97 Revised 1997-98 1996-97 Estimates Revised ($000) ($000) PROVINCIAL: Taxation: Personal Income Tax 615,000 617,800 Sales Tax 451,086 556,400 Gasoline Tax 119,400 108,500 Payroll Tax 70,000 71,600 Tobacco Tax 67,000 64,000 Corporate Income Tax 56,000 63,200 Mining Tax and Royalties 22,000 20,400 Other 28,300 26,590 --------- --------- 1,428,786 1,528,490 --------- --------- General Revenues: Newfoundland Liquor Corporation 81,200 74,500 Lottery Revenues 78,000 77,000 Vehicle and Driver Licences 50,290 45,240 Registry of Deeds 10,970 11,000 Fines and Forfeitures 7,840 7,375 Other 28,560 31,901 --------- --------- 256,860 247,016 --------- --------- Expenditure Programs - Related Revenues: Recoveries - Sinking Fund Surluses 12,501 13,306 Interest Income 15,985 19,861 Other 115,280 75,633 --------- --------- 143,766 108,800 --------- --------- TOTAL: PROVINCIAL REVENUES 1,829,412 1,884,306 --------- --------- GOVERNMENT OF CANADA: Fiscal Transfer Payments: Equalization Payments 905,000 958,200 Canada Health and Social Transfer (CHST) 272,000 342,500 Sales Tax Transitional Assistance 127,000 - Term 29 Award 40,000 50,000 Canada Assistance Plan (CAP) - 7,500 Public Utilities Income Tax Transfer Act (PUITTA) - (500) Statutory Subsidies 1,754 1,754 --------- --------- 1,345,754 1,359,454 --------- --------- Cost Shared Programs: Resource 32,758 11,967 Offshore Fund 5,164 3,628 Human Resources Development 7,317 13,776 Native Peoples 6,362 9,685 Other 20,452 24,587 --------- --------- 72,053 63,643 --------- --------- TOTAL: GOVERNMENT OF CANADA REVENUES 1,417,807 1,423,097 --------- --------- TOTAL: CURRENT AND RELATED REVENUES 3,247,219 3,307,403 ========= =========
STATEMENT III SUMMARY OF CURRENT AND CAPITAL ACCOUNT EXPENDITURES 1997-98 and 1996-97 Revised 1997-98 1996-97 Gross Related Net Revised Expenditure Revenue Expenditure (Net) $ $ $ $ General Government Sector Consolidated Fund Services 593,301,700 52,342,000 540,959,700 551,551,900 Executive Council 22,234,300 2,731,300 19,503,000 20,930,900 Finance 43,365,300 48,558,800 (5,193,500) 34,367,200 Government Services and Lands 23,160,100 3,599,400 19,560,700 19,854,400 Legislature 9,347,800 157,800 9,190,000 10,449,200 Public Service Commission 1,281,200 - 1,281,200 1,402,900 Works, Services and Transportation 220,268,700 78,621,000 141,647,700 131,490,900 Resource Sector Development and Rural Renewal 33,989,000 26,886,500 7,102,500 15,453,700 Environment and Labour 10,617,500 4,979,300 5,638,200 6,546,600 Fisheries and Aquaculture 17,097,800 6,572,500 10,525,300 10,282,600 Forest Resources and Agrifoods 47,100,500 8,373,400 38,727,100 43,206,200 Industry, Trade and Technology 36,846,200 16,943,900 19,902,300 14,903,500 Mines and Energy 9,115,200 1,078,000 8,037,200 8,570,300 Touris, Culture and Recreation 34,815,300 9,688,300 25,127,000 28,896,600 Social Sector Education 681,383,800 19,084,300 662,299,500 735,033,100 Health 927,562,300 14,289,900 913,272,400 911,177,700 Human Resources and Employment 393,954,100 11,618,400 382,335,700 372,547,600 Justice 108,719,800 9,840,400 98,879,400 112,447,300 Municipal and Provincial Affairs 130,262,200 14,181,400 116,080,800 123,437,500 Newfoundland and Labrador Housing Corporation 6,835,000 - 6,835,000 11,600,000 ------------- ----------- ------------- ------------- TOTAL 3,351,257,800 329,546,600 3,021,711,200 3,164,150,100 ============= =========== ============= ============= AMOUNT TO BE VOTED 1997-98 Gross Current and Capital Expenditure 3,351,257,800 Contingency Reserve 30,000,000 Less: Expenditures Approved by Statute: Interest 500,792,800 Pensions and Gratuities 56,062,300 Debt Management Expenses 2,682,000 Issues under Guarantee 1,000,000 Salaries (Auditor General and Comptroller General) 166,800 560,703,900 ----------- ------------- Amount to be Voted by Supply Bill 2,820,553,900 =============
STATEMENT IV SUMMARY OF CURRENT ACCOUNT EXPENDITURES 1997-98 and 1996-97 Revised 1997-98 1996-97 Gross Related Net Revised Expenditure Revenue Expenditure (Net) ($000) ($000) ($000) ($000) General Government Sector Consolidated Fund Services 592,225 48,619 543,606 559,452 Executive Council 22,234 2,731 19,503 20,931 Finance 43,365 48,559 (5,194) 25,367 Government Services and Lands 22,893 3,349 19,544 19,895 Legislature 9,348 158 9,190 10,449 Public Service Commission 1,281 - 1,281 1,403 Works, Services and Transportation 126,324 10,021 116,303 114,060 Resource Sector Development and Rural Renewal 26,159 12,928 13,231 12,303 Environment and Labour 10,618 4,980 5,638 6,547 Fisheries and Aquaculture 12,168 3,213 8,955 9,674 Forest Resources and Agrifoods 42,300 6,213 36,087 40,563 Industry, Trade and Technology 34,913 16,039 18,874 13,730 Mines and Energy 8,115 328 7,787 8,570 Tourism, Culture and Recreation 27,716 5,480 22,236 25,553 Social Sector Education 662,244 18,069 644,175 691,389 Health 910,127 9,990 900,137 897,037 Human Resources and Employment 393,954 11,618 382,336 372,548 Justice 108,720 9,841 98,879 112,447 Municipal and Provincial Affairs 75,201 3,683 71,518 79,932 Newfoundland and Labrador Housing Corporation 6,835 - 6,835 11,600 --------- ------- --------- --------- TOTAL 3,136,740 215,819 2,920,921 3,033,450 ========= ======= ========= =========
STATEMENT V SUMMARY OF CAPITAL ACCOUNT EXPENDITURES 1997-98 and 1996-97 Revised 1997-98 1996-97 Gross Related Net Revised Expenditure Revenue Expenditure (Net) ($000) ($000) ($000) ($000) General Government Sector Consolidated Fund Services 1,077 3,723 (2,646) (7,900) Finance - - - 9,000 Government Services and Lands 267 250 17 (40) Works, Services and Transportation 93,945 68,600 25,345 17,431 Resource Sector Development and Rural Renewal 7,830 13,959 (6,129) 3,151 Fisheries and Aquaculture 4,930 3,360 1,570 609 Forest Resources and Agrifoods 4,800 2,160 2,640 2,643 Industry, Trade and Technology 1,933 904 1,029 1,174 Mines and Energy 1,000 750 250 - Tourism, Culture and Recreation 7,099 4,208 2,891 3,343 Social Sector Education 19,140 1,015 18,125 43,645 Health 17,435 4,300 13,135 14,140 Municipal and Provincial Affairs 55,062 10,499 44,563 43,505 ------- ------- ------- ------- TOTAL 214,518 113,728 100,790 130,701 ======= ======= ======= =======
STATEMENT VI SUMMARY OF RELATED REVENUES AND EXPENDITURES BY MAIN OBJECT AND SECTOR 1997-98 and 1996-97 Revised General Government Resource Social % of Total Sector Sector Sector Total 1997/98 1996/97 1997/98 1997/98 1997/98 1997/98 Total Revised ($000) ($000) ($000) ($000) % ($000) Current: Salaries 101,478 54,157 105,900 261,535 8.3 266,325 Employee Benefits 116,267 627 1,173 118,067 3.8 112,986 Transportation and Communications 8,855 11,664 9,940 30,459 1.0 32,854 Supplies 29,164 5,436 9,045 43,645 1.4 47,547 Professional Services 3,992 4,161 39,221 47,374 1.5 47,632 Purchased Services 34,793 27,871 18,485 81,149 2.6 66,259 Property, Furnishings and Equipment 383 819 662 1,864 0.1 2,679 Allowances and Assistance 4,219 213 397,652 402,084 12.8 393,607 Grants and Subsidies 6,465 54,978 1,563,320 1,624,763 51.8 1,684,471 Debt Expenses 501,831 - 3,054 504,885 16.1 530,566 Information Technology 10,223 2,063 8,629 20,915 0.6 20,967 --------- ------- --------- --------- ----- --------- Gross Current Expenditure 817,670 161,989 2,157,081 3,136,740 100.0 3,205,893 --------- ------- --------- --------- ----- --------- Federal Revenue Sources (1,560) (38,130) (32,363) (72,053) 33.4 (63,643) Provincial Revenue Sources (111,877) (11,051) (20,838) (143,766) 66.6 (108,800) --------- -------- --------- --------- ----- --------- Total Current Related Revenues (113,437) (49,181) (53,201) (215,819) 100.0 (172,443) --------- -------- --------- --------- ----- --------- Net Current Expenditure 704,233 112,808 2,103,880 2,920,921 3,033,450 --------- -------- --------- --------- --------- Capital: Salaries 6,530 80 163 6,773 3.1 5,655 Employee Benefits - - 1 1 0.0 1 Transportation and Communications 900 5 23 928 0.4 1,011 Supplies 1,247 5 4 1,256 0.6 519 Professional Services 1,530 191 370 2,091 1.0 2,596 Purchased Services 83,239 6,655 6,128 96,022 44.7 79,600 Property, Furnishings and Equipment 8,830 516 7,526 16,872 7.9 17,221 Loans, Advances and Investments 1,000 7,630 100 8,730 4.1 18,708 Grants and Subsidies 200 12,510 67,511 80,221 37.4 84,276 Debt Expenses 813 - 811 1,624 0.8 29,580 Expenditure by Sector Before ------- ------- ------- ------- ----- ------- Recharges 104,289 27,592 82,637 214,518 100.0 239,167 Voted in Other Departments ----- and Divisions 5,918 - 9,000 14,918 8,578 Recharged to Other Departments and Divisions (14,918) - - (14,918) (8,578) -------- -------- -------- -------- ------- Gross Capital Expenditure 95,289 27,592 91,637 214,518 239,167 -------- -------- -------- -------- ------- Federal Revenue Sources (65,000) (11,841) (11,514) (88,355) 77.7 (83,748) Provincial Revenue Sources (7,573) (13,500) (4,300) (25,373) 22.3 (24,718) -------- -------- -------- --------- ----- --------- Total Capital Related Revenues (72,573) (25,341) (15,814) (113,728) 100.0 (108,466) -------- -------- -------- --------- ----- --------- Net Capital Expenditure 22,716 2,251 75,823 100,790 130,701 -------- -------- -------- --------- --------- Total Net Expenditure 726,949 115,059 2,179,703 3,021,711 3,164,151 ======= ======= ========= ========= =========
EXHIBIT I SELECTED ECONOMIC STATISTICS 1993 to 1996 % % % 1996 Change 1995 Change 1994 Change 1993 Population as of July 1 (000s) 570.7 -1.0 576.6 -0.8 581.2 -0.5 584.2 Gross Domestic Product at Market Prices ($ Millions) 10,188 -2.5 10,449 6.2 9,839 3.6 9,501 Total Personal Income ($Millions) 10,104 -1.7 10,279 0.5 10,225 1.2 10,108 Per Capita Personal Income ($) 17,705 -0.7 17,827 1.3 17,593 1.7 17,302 Labour Force, Annual Average (000s) 235.5 -2.5 241.5 -1.2 244.5 1.1 241.8 Employment, Annual Average (000s) 189.7 -3.9 197.3 1.4 194.6 0.7 193.2 Unemployment Rate, Annual Average (%) 19.4 6.0 18.3 -10.3 20.4 1.5 20.1 Wages and Salaries ($ Millions) 4,763 -0.8 4,801 1.6 4,727 3.4 4,572 Consumer Price Index(1986=100) 129.5 1.6 127.5 1.4 125.7 1.3 124.1 Total Volume of Fish Landings (Thousands of Metric Tonnes) 170 29.4 132 3.2 128 -47.2 242 Total Value of Fish Landings ($Mill) 240 -27.3 330 63.8 201 3.6 194 Pulpwood Production (Thousands of Cubic Metres) 1,930 -1.7 1,963 -0.2 1,967 4.7 1,879 Newsprint Shipments (Thousands of Metric Tonnes) 714 -2.9 735 -0.3 737 4.7 704 Iron Ore Shipments (Millions of Metric Tonnes) 20.4 2.0 20.0 -1.5 20.3 11.5 18.2 Gross Value of Manufacturing Shipments ($ Millions) 1,572 2.0 1,540 8.3 1,423 7.5 1,324 Private and Public Capital Investment ($ Millions) 2,315 -18.2 2,829 -2.6 2,906 16.9 2,485 Dwelling Starts (Number) 2,034 18.8 1,712 -23.7 2,243 -6.7 2,405 Retail Trade ($ Millions) 3,437 -1.2 3,478 2.0 3,409 2.4 3,328 New Motor Vehicle Sales (Number) 16,199 -5.3 17,112 -15.4 20,225 3.5 19,544 Note: Some data are preliminary. Some percent changes are based on unrounded data. Source: Statistics Canada; Economics and Statistics Branch, Department of Finance
EXHIBIT II ESTIMATED PROVINCIAL AND FEDERAL REVENUES 1997-98 and 1996-97 Revised 1997-98 1996-97 Estimates Revised ($000) ($000) PROVINCIAL TAX SOURCES: Personal Income Tax 615,000 617,800 Sales Tax 451,086 556,400 Gasoline Tax 119,400 108,500 Payroll Tax 70,000 71,600 Tobacco Tax 67,000 64,000 Corporate Income Tax 56,000 63,200 Mining Tax and Royalties 22,000 20,400 Insurance Companies Tax 20,000 19,000 Corporate Capital Tax 6,500 6,115 Forest Management Tax 1,800 1,475 --------- --------- TOTAL: Provincial Tax Sources 1,428,786 1,528,490 --------- --------- OTHER PROVINCIAL SOURCES: Newfoundland Liquor Corporation 81,200 74,500 Lottery Revenues 78,000 77,000 Vehicle and Driver Licences 50,290 45,240 Registry of Deeds 10,970 11,000 Fines and Forfeitures 7,840 7,375 Crown Lands 5,715 6,830 Inland Fish and Game Licences 3,840 3,560 Water Power Rentals 3,800 3,800 Mining Permits and Fees 3,010 6,030 Registry of Bills and Sales 2,275 1,635 Forestry Royalties and Fees 2,150 1,995 Other 7,770 8,051 --------- --------- TOTAL: Other Provincial Sources 256,860 247,016 --------- --------- TOTAL: PROVINCIAL SOURCES 1,685,646 1,775,506 --------- --------- GOVERNMENT OF CANADA: Equalization Payments 905,000 958,200 Canada Health and Social Transfer (CHST) 272,000 342,500 Sales Tax Transitional Assistance 127,000 - Term 29 Award 40,000 50,000 Canada Assistance Plan (CAP) - 7,500 Public Utilities Income Tax Transfer Act (PUITTA) - (500) Statutory Subsidies 1,754 1,754 --------- --------- TOTAL: GOVERNMENT OF CANADA 1,345,754 1,359,454 --------- --------- TOTAL: PROVINCIAL AND FEDERAL REVENUES 3,031,400 3,134,960 ========= =========
EXHIBIT III CURRENT AND CAPITAL REVENUES PROVINCIAL AND FEDERAL SOURCES 1993-94 to 1997-98 1997-98 1996-97 1995-96 1994-95 1993-94 Est. Revised Audited Audited Aud ($000) % ($000) % ($000) % ($000) % ($000) % Current Revenues : Provincial Sources 1,829,412 56.3 1,884,306 57.0 1,918,140 57.0 1,729,180 53.2 1,679,884 54.7 Federal Sources 1,417,807 43.7 1,423,097 43.0 1,446,680 43.0 1,523,486 46.8 1,391,642 45.3 --------- ---- --------- ---- --------- ---- --------- ---- --------- ---- Total: Current Revenues 3,247,219 100.0 3,307,403 100.0 3,364,820 100.0 3,252,666 100.0 3,071,526 100 --------- ---- --------- ---- --------- ---- --------- ---- --------- ---- Capital Revenues : Provincial Sources 25,373 22.3 24,718 22.8 30,652 25.0 21,470 15.9 16,300 18.8 Federal Sources 88,355 77.7 83,748 77.2 91,867 75.0 113,641 84.1 70,620 81.2 Total: --------- ---- --------- ---- --------- ---- --------- ---- --------- ---- Capital Revenues 113,728 100.0 108,466 100.0 122,519 100.0 135,111 100.0 86,920 100 --------- ---- --------- ---- --------- ---- --------- ---- --------- ---- Current and Capital Revenues : Provincial Sources 1,854,785 55.2 1,909,024 55.9 1,948,792 55.9 1,750,650 51.7 1,696,184 53.7 Federal Sources 1,506,162 44.8 1,506,845 44.1 1,538,547 44.1 1,637,127 48.3 1,462,262 46.3 Total: Current and Capital --------- ---- --------- ---- --------- ---- --------- ---- --------- ---- Revenues 3,360,947 100.0 3,415,869 100.0 3,487,339 100.0 3,387,777 100.0 3,158,446 100 ========= ===== ========= ===== ========= ===== ========= ===== ========= ====
EXHIBIT IV EXPENDITURE SUMMARY 1997-98 Estimated Total Current Capital Head Gross Net Gross Net Gross Net ($000) ($000) ($000) ($000) ($000) ($000) Consolidated Fund Services 593,302 540,960 592,225 543,606 1,077 (2,646) Executive Council 22,234 19,503 22,234 19,503 - - Finance 43,365 (5,194) 43,365 (5,194) - - Government Services and Lands 23,160 19,561 22,893 19,544 267 17 Legislature 9,348 9,190 9,348 9,190 - - Public Service Commission 1,281 1,281 1,281 1,281 - - Works, Services and Transportation 220,269 141,648 126,324 116,303 93,945 25,345 Development and Rural Renewal 33,989 7,102 26,159 13,231 7,830 (6,129) Environment and Labour 10,618 5,638 10,618 5,638 - - Fisheries and Aquaculture 17,098 10,525 12,168 8,955 4,930 1,570 Forest Resources and Agrifoods 47,100 38,727 42,300 36,087 4,800 2,640 Industry, Trade and Technology 36,846 19,903 34,913 18,874 1,933 1,029 Mines and Energy 9,115 8,037 8,115 7,787 1,000 250 Tourism, Culture and Recreation 34,815 25,127 27,716 22,236 7,099 2,891 Education 681,384 662,300 662,244 644,175 19,140 18,125 Health 927,562 913,272 910,127 900,137 17,435 13,135 Human Resources and Employment 393,954 382,336 393,954 382,336 - - Justice 108,720 98,879 108,720 98,879 - - Municipal and Provincial Affairs 130,263 116,081 75,201 71,518 55,062 44,563 Newfoundland and Labrador Housing Corporation 6,835 6,835 6,835 6,835 - - --------- --------- --------- --------- ------- ------- TOTAL 3,351,258 3,021,711 3,136,740 2,920,921 214,518 100,790 ========= ========= ========= ========= ======= =======
EXPENDITURE SUMMARY 1996-97 Revised Consolidated Fund Services 606,592 551,552 606,515 559,452 77 (7,900) Executive Council 22,055 20,931 22,055 20,931 - - Finance 52,888 34,367 43,888 25,367 9,000 9,000 Government Services and Lands 23,038 19,855 22,838 19,895 200 (40) Legislature 10,614 10,449 10,614 10,449 - - Public Service Commission 1,403 1,403 1,403 1,403 - - Works, Services and Transportation 210,938 131,491 129,201 114,060 81,737 17,431 Development and Rural Renewal 44,791 15,454 25,158 12,303 19,633 3,151 Environment and Labour 11,363 6,547 11,363 6,547 - - Fisheries and Aquaculture 12,377 10,283 11,613 9,674 764 609 Forest Resources and Agrifoods 51,096 43,206 46,053 40,563 5,043 2,643 Industry, Trade and Technology 18,488 14,904 16,662 13,730 1,826 1,174 Mines and Energy 8,733 8,570 8,733 8,570 - - Tourism, Culture and Recreation 33,403 28,896 28,545 25,553 4,858 3,343 Education 755,639 735,034 710,668 691,389 44,971 43,645 Health 922,865 911,177 908,125 897,037 14,740 14,140 Human Resources and Employment 386,815 372,548 386,815 372,548 - - Justice 120,396 112,447 120,396 112,447 - - Municipal and Provincial Affairs 139,966 123,437 83,648 79,932 56,318 43,505 Newfoundland and Labrador Housing Corporation 11,600 11,600 11,600 11,600 - - --------- --------- --------- --------- ------- ------- TOTAL 3,445,060 3,164,151 3,205,893 3,033,450 239,167 130,701 ========= ========= ========= ========= ======= =======
EXHIBIT V PUBLIC SECTOR DEBT 1993 to 1997 Five Years ending March 31 1997* 1996 1995 1994 1993 (Millions of dollars) Provincial Direct Debt: Payable in Canadian Dollars 2,070.0 2,010.7 1,884.1 1,888.3 1,758.3 Due Government of Canada 711.1 762.5 796.9 828.0 862.8 Payable in U.S. Dollars 1,605.7 1,730.8 1,781.8 1,729.4 1,441.0 Payable in Other Currencies 750.7 1,049.2 1,182.3 954.5 806.9 ------- ------- ------- ------- ------- Total Direct Debenture Debt 5,137.5 5,553.2 5,645.1 5,400.2 4,869.0 ------- ------- ------- ------- ------- Treasury Bills 390.0 390.0 390.0 286.0 286.0 ------- ------- ------- ------- ------- Total Provincial Direct Debt 5,527.5 5,943.2 6,035.1 5,686.2 5,155.0 ------- ------- ------- ------- ------- Crown Corporation and Other Debt: Utility 1,438.2 1,441.9 1,362.1 1,335.6 1,386.6 Housing 160.2 166.3 165.5 163.6 170.8 Municipal 664.3 730.8 735.1 738.4 697.5 Other 155.2 85.5 121.8 99.3 78.3 Total Crown Corporation and ------- ------- ------- ------- ------- Other Debt 2,417.9 2,424.5 2,384.5 2,336.9 2,333.2 ------- ------- ------- ------- ------- Deduct Sinking Funds held for Redemption of Debt: Direct Debt 1,049.4 1,013.4 1,087.7 994.2 884.6 Guaranteed Debt 560.3 481.0 441.0 421.6 426.2 ------- ------- ------- ------- ------- Total Sinking Funds 1,609.7 1,494.4 1,528.7 1,415.8 1,310.8 ------- ------- ------- ------- ------- Total Public Sector Debt (Note 1) 6,335.7 6,873.3 6,890.9 6,607.3 6,177.4 ======= ======= ======= ======= ======= * Forecast Note 1: For 1993-96, debt payable in foreign currencies is shown at the Canadian dollar equivalent using exchange rates in effect on March 31 of each year. For 1997, foreign currency debt is converted to the Canadian dollar equivalent using exchange rates in effect on March 7, 1997.
EXHIBIT VI SUMMARY OF CURRENT REVENUES (By Source) WHERE THE MONEY COMES FROM
Click here for Chart Percentage Of Total Source Amount ($000) Revised Estimate Estimate Revised 1996-97 1997-98 1997-98 1996-97 Provincial: 18.7 18.9 Personal Income Tax 615,000 617,800 16.8 13.9 Sales Tax 451,086 556,400 3.3 3.7 Gasoline Tax 119,400 108,500 2.3 2.5 Newfoundland Liquor Corporation 81,200 74,500 1.9 2.1 Tobacco Tax 67,000 64,000 1.9 1.7 Corporate Income Tax 56,000 63,200 12.1 13.5 Other Provincial Sources 439,726 399,906 ---- ---- --------- --------- 57.0 56.3 Total: Provincial 1,829,412 1,884,306 ---- ---- --------- --------- Government of Canada: 29.0 27.9 Equalization Payments 905,000 958,200 14.0 15.8 Other Federal Sources 512,807 464,897 ----- ----- --------- --------- 43.0 43.7 Total: Government of Canada 1,417,807 1,423,097 ----- ----- --------- --------- 100.0 100.0 Total 3,247,219 3,307,403 ===== ===== ========= =========
EXHIBIT VII SUMMARY OF CURRENT ACCOUNT EXPENDITURES (By Function) WHERE THE MONEY GOES
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Percentage of Total Function of Expenditure Amount ($000) Revised Estimate Estimate Revised 1996-97 1997-98 1997-98 1996-97 Expenditure: 21.0 20.0 Education 650,119 694,282 23.4 23.9 Health 777,127 775,010 16.1 15.6 Debt Charges and Other Financial Expenses 507,565 531,385 15.2 15.8 Social Welfare 510,978 504,066 3.4 3.9 Natural Resources, Agriculture, Trade, Industry and Tourism 126,782 113,241 6.6 6.8 General Government 219,370 218,634 4.7 4.2 Protection to Persons and Property 137,414 154,811 2.6 2.6 Transportation and Communications 84,967 84,409 3.9 3.8 Other 122,418 130,055 ----- ----- --------- --------- 96.9 96.6 Total: Expenditures 3,136,740 3,205,893 ----- ----- --------- --------- 3.1 3.4 Financial Contribution 110,479 101,510 ----- ----- --------- --------- 100.0 100.0 Total: 3,247,219 3,307,403 ===== ===== ========= =========
EXHIBIT VIII SUMMARY OF GROSS CAPITAL ACCOUNT EXPENDITURES (By Function)
Click here for chart Percentage of Total Category of Capital Expenditure Amount ($000) Revised Estimate Estimate Revised 1996-97 1997-98 1997-98 1996-97 Expenditure: 29.4 39.4 Transportation Projects 84,610 70,486 12.0 12.1 Resource Development 25,966 28,676 29.0 27.1 Municipal Infrastructure 58,155 69,366 3.3 6.1 Health Facilities 13,012 7,817 18.1 8.2 Educational Facilities 17,520 43,350 5.3 4.7 Equipment Acquisitions, etc. 10,100 12,600 2.9 2.4 Public Buildings 5,155 6,872 ----- ----- ------- ------- 100.0 100.0 Total: Expenditure 214,518 239,167 ===== ===== ======= ======= Source of Financing: 35.0 41.2 Government of Canada Revenues 88,355 83,748 10.3 11.8 Provincial Revenues 25,373 24,718 54.7 47.0 Financial Requirement 100,790 130,701 ----- ----- ------- ------- 100.0 100.0 Total: Sources 214,518 239,167 ===== ===== ======= =======
EXHIBIT IX SUMMARY OF GROSS GOVERNMENT EXPENDITURES CURRENT AND CAPITAL (By Sector)
Click here for chart (TOTAL EXPENDITURE: $ 3,351,257,800) GROSS GOVERNMENT EXPENDITURE GENERAL GOVERNMENT SECTOR Estimate Percentage Estimate Percentage 1997-98 of Total 1997-98 of Total ($000) % ($000) % Sector Expenditure Consolidated Fund Services 593,302 17.7 General Government 912,959 27.2 Executive Council 22,234 0.7 Resource 189,581 5.7 Finance 43,365 1.3 Social 2,248,718 67.1 Government Services and Lands 23,160 0.7 --------- ----- Legislature 9,348 0.3 Total: Expenditure 3,351,258 100.0 Public Service Commission 1,281 - ========= ===== Works, Services and Transportation 220,269 6.5 Total: General ------- ---- Government Sector 912,959 27.2 ======= ==== SOCIAL SECTOR RESOURCE SECTOR Estimate Percentage Estimate Percentage 1997-98 of Total 1997-98 of Total ($000) % ($000) % Education 681,384 20.3 Development and Rural Renewal 33,989 1.0 Health 927,562 27.7 Environment and Labour 10,618 0.3 Human Resources and Employment 393,954 11.8 Fisheries and Aquaculture 17,098 0.5 Justice 108,720 3.2 Forest Resources and Agrifoods 47,100 1.4 Municipal and Industry, Trade and Technology 36,846 1.1 Provincial Affairs 130,263 3.9 Mines and Energy 9,115 0.3 Newfoundland and Labrador Tourism, Culture and Housing Corporation 6,835 0.2 Recreation 34,815 1.1 Total: --------- ---- ------- --- Social Sector 2,248,718 67.1 Total: Resource Sector 189,581 5.7 ========= ==== ======= ===
EXHIBIT X SUMMARY OF BUDGETARY FINANCING SOURCES (For Gross Current and Capital Account Expenditures)
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Percentage of Total Category of Financing Amount ($000) Revised Estimate Estimate Revised 1996-97 1997-98 1997-98 1996-97 Revenue Sources: 55.4 54.9 Provincial 1,854,785 1,909,024 43.8 44.5 Federal 1,506,162 1,506,845 ----- ---- --------- --------- 3,360,947 3,415,869 --------- --------- 0.8 0.6 Budgetary Requirements: 20,311 29,191 ----- ----- --------- --------- 100.0 100.0 Total: Sources 3,381,258 3,445,060 ===== ===== --------- --------- Contingency Reserve (30,000) - --------- --------- Gross Current and Capital Expenditures: 3,351,258 3,445,060 ========= =========
EXHIBIT XI SUMMARY OF SALARY COSTS BY DEPARTMENT 1997-98 and 1996-97 (Revised) 1997-98 1996-97 DEPARTMENT Estimates Revised $ $ Consolidated Fund Services 250,000 - Executive Council 12,049,800 11,843,300 Finance* 12,338,500 10,580,100 Government Services and Lands 15,411,400 15,093,300 Legislature 4,032,000 4,473,300 Public Service Commission 790,000 891,000 Works, Services and Transportation 63,136,200 61,859,300 Development and Rural Renewal 6,155,600 7,158,900 Environment and Labour 6,739,100 6,873,100 Fisheries and Aquaculture 4,781,000 4,918,400 Forest Resources and Agrifoods 18,736,900 19,842,300 Industry, Trade and Technology 3,371,200 4,207,400 Mines and Energy 4,634,500 4,907,700 Tourism, Culture and Recreation 9,818,500 11,231,200 Education 8,176,500 8,837,300 Health 4,943,700 4,832,400 Human Resources and Employment 35,483,200 36,448,100 Justice 50,479,100 50,902,000 Municipal and Provincial Affairs 6,981,300 7,081,000 ----------- ----------- TOTAL 268,308,500 271,980,100 ----------- ----------- Less: Capital Account Salary Expenditure 6,773,400 5,654,700 ----------- ----------- Total: Current Account Salary Expenditure 261,535,100 266,325,400 =========== =========== * Includes Pay Equity payments ($4,420,000, 1997-98 Estimates; $1,800,000, 1996-97 Revised).
EXHIBIT XII ESTIMATED INTEREST AND DEBT RETIREMENT 1997-98 Sinking Amount Interest Fund Sinking Debt Term Series Outstanding Rate Rate Interest Fund Redemption % % $ $ $ Payable in Canadian Dollars: 1982/2002 5K 50,000,000 14 3/4 2 7,375,000 1,000,000 1983/2003 5L 125,000,000 12 7/8 2 16,093,800 2,500,000 1984/2004 5N 100,000,000 13 1/2 2 13,500,000 2,000,000 1985/1997 5P 80,000,000 10 1/4 - 8,200,000 80,000,000 1986/2001 EC3 66,407,000 7 1/2 2 4,980,500 1,328,100 1986/2006 5Q 100,000,000 11 2 11,000,000 2,000,000 1987/2007 5S 42,300,000 10.79 2 4,564,200 846,000 1987/2007 EC4 15,447,000 9 2 1,390,200 308,900 1987/2010 5R 100,000,000 9 3/8 2 9,375,000 2,000,000 1988/1997 J5 75,000,000 10.86 - 8,144,900 75,000,000 1988/2008 5T 100,000,000 11 1/4 2 11,250,000 2,000,000 1989/2012 5U 125,000,000 11 2 13,750,000 2,500,000 1989/2014 5V 150,000,000 10 1/8 1 1/2 15,187,500 2,250,000 1991/2001 5W 27,929,000 10 1/2 - 2,932,500 1991/2021 5X 122,071,000 10.95 - 13,366,800 1992/1998 EC5 150,000,000 9 1/8 - 13,687,500 1993/2003 EC6 150,000,000 8 3/4 2 13,125,000 3,000,000 1995/1999 J12 42,000,000 FLOATING - 1,680,000 1995/2025 6B 100,000,000 9.15 3/4 9,150,000 750,000 1996/2001 6D 100,000,000 7.6 - 9,964,400 1996/2004 5Z 98,895,000 9.55 - 9,444,500 1996/2026 6C 150,000,000 8.45 3/4 12,675,000 1,125,000 Anticipated 1997/1998 5,625,000 ----------- ---------- ----------- 216,461,800 23,608,000 155,000,000 ----------- ---------- ----------- Payable in United States Dollars: 1987/2007 AF 100,000,000 11 5/8 2 15,461,300 2,660,000 1989/2019 AG 150,000,000 9 1 1/2 17,955,000 2,992,500 1990/2020 AH 150,000,000 9 7/8 1/2 19,700,600 997,500 1990/2020 AJ 150,000,000 10 1/2 19,950,000 997,500 1991/2021 AK 200,000,000 9 1/2 23,940,000 1,330,000 1992/2022 AM 200,000,000 8.65 1/2 23,009,000 1,330,000 1993/2023 AN 200,000,000 7.32 3/4 19,471,200 1,995,000 1994/2001 J11 23,500,000 FLOATING - 1,906,600 ----------- ---------- ----------- 141,393,700 12,302,500 ----------- ---------- ----------- Payable in Japanese Yen: 1994/1999 J9 4,700,000,000 4.8 - 2,932,800 1994/2001 J10 2,300,000,000 4.95 - 1,484,200 ----------- ---------- ----------- 4,417,000 ----------- ---------- ----------- Payable in Swiss Francs: 1985/2000 S3 150,000,000 5 3/8 - 8,465,600 1987/2002 S4 150,000,000 5 1/8 - 8,071,900 1988/2003 S5 150,000,000 5 2 7,875,000 2,471,200 1990/1999 S6 125,000,000 7 1/2 - 9,843,800 1991/2003 S7 150,000,000 7 2 11,025,000 2,191,700 ----------- ---------- ----------- 45,281,300 4,662,900 ----------- ---------- ----------- 407,553,800 40,573,400 155,000,000 =========== ========== =========== Canada Pension Plan: (20 Year Term) 1977/78 3A 33,037,000 8.77-9.37 - 2,034,000 1978/79 3A 36,622,000 9.35-10.16 - 3,499,500 1979/80 3A 40,070,000 9.98-12.74 - 4,242,100 1980/81 3A 42,645,000 11.61-13.46 - 5,416,800 1981/82 3A 52,973,000 13.66-17.51 - 8,173,600 1982/83 3A 52,104,000 12.01-16.53 - 7,645,000 1983/84 3A 50,738,000 10.92-12.14 - 5,882,300 1984/85 3A 47,146,000 12.08-14.06 0.004 6,303,100 177,500 1985/86 3A 50,570,000 10.58-12.57 0.011 5,806,900 543,100 1986/87 3A 59,659,000 9.04-10.17 0.012 5,735,200 744,900 1987/88 3A 43,829,000 9.12-11.07 0.014 4,280,400 604,700 1988/89 3A 41,635,000 9.62-10.39 0.015 4,196,400 616,800 1989/90 3A 45,188,000 9.15-10.31 0.016 4,475,100 706,300 1990/91 3A 40,432,000 9.78-11.33 0.017 4,385,400 685,700 1991/92 3A 40,858,000 9.81-10.04 0.017 4,052,800 684,800 1992/93 3A 28,770,000 9.17-9.45 0.017 2,695,300 493,900 ----------- ---------- ----------- 78,823,900 5,257,700 ----------- ---------- ----------- Government of Canada: DRIE 4,821,331 7.01-9.72 - 408,900 4,821,300 ----------- ---------- ----------- 408,900 4,821,300 ----------- ---------- ----------- TOTAL 486,786,600 45,831,100 159,821,300 =========== ========== =========== EXCHANGE RATES USED IN CONVERSION U.S. ......................... 1.3300 Cdn. Yen. ......................... 0.0130 Cdn. S.F. ......................... 1.0500 Cdn.
EXHIBIT XIII DETAILS OF CAPITAL EXPENDITURES ESTIMATES 1997-98 ACTIVITY GROSS RELATED NET NO. DETAILS EXPENDITURE REVENUE EXPENDITURE $ $ $ CONSOLIDATED FUND SERVICES 1.2.01 Recoveries on Loans, Advances and Investments - 3,722,300 (3,722,300) 1.3.01 Various Facilities - Rental Purchase 77,200 - 77,200 1.4.02 Issues Under Guarantee (Statutory) 1,000,000 1,000 999,000 --------- --------- --------- TOTAL 1,077,200 3,723,300 (2,646,100) --------- --------- --------- GOVERNMENT SERVICES AND LANDS 4.1.05 Land Management 267,000 250,000 17,000 --------- --------- --------- TOTAL 267,000 250,000 17,000 --------- --------- --------- WORKS, SERVICES AND TRANSPORTATION 2.2.05 Salt Storage Sheds 300,000 - 300,000 2.2.06 Alterations - Leased Accommodations 75,000 - 75,000 2.3.03 Heavy Equipment 4,000,000 125,000 3,875,000 3.2.01 Administrative Support - Road Construction 449,500 - 449,500 3.2.02 Pre - Engineering - Road Construction 650,000 - 650,000 3.2.03 Improvement and Construction - Provincial Roads 19,000,000 8,500,000 10,500,000 3.2.04 Highways - Transportation Initiative 29,000,000 29,000,000 - 3.2.05 Regional Roads - Transportation Initiative 25,000,000 25,000,000 - 3.2.06 Strategic Highway Improvement Program 4,000,000 2,000,000 2,000,000 3.2.07 Land Acquisition 2,500,000 - 2,500,000 3.3.01 Alterations and Improvements to Existing Facilities 3,770,000 2,475,000 1,295,000 3.3.02 Development of New Facilities 750,000 1,000,000 (250,000) 3.3.03 Advanced Planning - Studies 200,000 - 200,000 4.1.03 Airstrips 500,000 500,000 - 4.2.03 Ferry Terminals 500,000 - 500,000 4.2.04 Ferry Vessels 3,010,300 - 3,010,300 5.2.03 Realty Services 40,000 - 40,000 5.3.02 Park Development - C.A. Pippy Park Commission 200,000 - 200,000 ---------- ---------- ---------- TOTAL 93,944,800 68,600,000 25,344,800 ---------- ---------- ---------- DEVELOPMENT AND RURAL RENEWAL 2.1.07 Comprehensive Labrador Agreement Initiatives 830,000 458,500 371,500 3.1.02 Strategic Enterprise Development Fund 7,000,000 13,500,000 (6,500,000) ---------- ---------- ---------- TOTAL 7,830,000 13,958,500 (6,128,500) ---------- ---------- ---------- FISHERIES AND AQUACULTURE 2.1.03 Fisheries Facilities 100,000 - 100,000 2.2.02 Middle Distance Fishing Vessel 630,000 - 630,000 3.3.02 Economic Renewal Agreement 4,200,000 3,360,000 840,000 ---------- ---------- ---------- TOTAL 4,930,000 3,360,000 1,570,000 ---------- ---------- ---------- FOREST RESOURCES AND AGRIFOODS 2.1.05 Resource Roads Construction 1,500,000 - 1,500,000 2.3.01 Economic Renewal Agreement 2,700,000 2,160,000 540,000 4.1.04 Land Development 300,000 - 300,000 4.1.05 Green Plan 300,000 - 300,000 ---------- ---------- ---------- TOTAL 4,800,000 2,160,000 2,640,000 ---------- ---------- ---------- INDUSTRY, TRADE AND TECHNOLOGY 2.1.04 Atlantic Investment Fund 722,000 - 722,000 3.3.04 Industrial Infrastructure - Offshore Fund 1,211,300 904,500 306,800 ---------- ---------- ---------- TOTAL 1,933,300 904,500 1,028,800 ---------- ---------- ---------- MINES AND ENERGY 3.1.07 Development of Infrastructure - Offshore Fund 1,000,000 750,000 250,000 ---------- ---------- ---------- TOTAL 1,000,000 750,000 250,000 ---------- ---------- ---------- TOURISM, CULTURE AND RECREATION 3.1.06 Support for Cultural Activities 200,000 - 200,000 3.1.07 Historic Sites Development 10,000 10,000 - 4.1.02 Park Development 500,000 - 500,000 4.1.03 National Parks 5,000 2,500 2,500 5.1.02 Community Sports Facilities 852,000 - 852,000 7.1.02 Economic Renewal Agreement 5,532,200 4,195,400 1,336,800 ---------- ---------- ---------- TOTAL 7,099,200 4,207,900 2,891,300 ---------- ---------- ---------- EDUCATION 2.1.08 School Board Operations 15,750,000 - 15,750,000 3.1.06 Skills Training Projects - Offshore Fund 1,353,000 1,015,000 338,000 3.2.02 Physical Plant and Equipment - Memorial University 1,417,000 - 1,417,000 3.3.02 Physical Plant and Equipment - Provincial College 500,000 - 500,000 4.2.02 Provincial Information and Library Resources 120,000 - 120,000 ---------- ---------- ---------- TOTAL 19,140,000 1,015,000 18,125,000 ---------- ---------- ---------- HEALTH 4.3.01 Furnishings and Equipment - Health Care Facilities 4,500,000 - 4,500,000 4.3.03 Hospital Facilities 12,426,100 4,000,000 8,426,100 4.3.04 Newfoundland Cancer Treatment and Research Foundation - 300,000 (300,000) 4.3.05 Long Term Care Facilities 508,900 - 508,900 ---------- ---------- ---------- TOTAL 17,435,000 4,300,000 13,135,000 ---------- ---------- ---------- MUNICIPAL AND PROVINCIAL AFFAIRS 3.2.01 Debt Financing 36,592,400 - 36,592,400 3.2.02 Canada-Newfoundland Infrastructure Program 14,167,400 7,798,700 6,368,700 3.2.03 Water and Sewer Servicing - Coastal Labrador 3,601,400 2,000,000 1,601,400 4.1.03 Disaster Assistance for Infrastructure 600,000 600,000 - 4.1.04 Joint Emergency Preparedness Projects 100,000 100,000 - ----------- ----------- ----------- TOTAL 55,061,200 10,498,700 44,562,500 ----------- ----------- ----------- TOTAL: CAPITAL ACCOUNT EXPENDITURES 214,517,700 113,727,900 100,789,800 =========== =========== ===========
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