STATEMENT I | ||||||
NEWFOUNDLAND AND LABRADOR | ||||||
SUMMARY OF BORROWING REQUIREMENTS | ||||||
1998-99
and 1997-98 (Revised) |
||||||
1998-99 Estimates |
1997-98 Revised |
|||||
|
($000) |
($000) |
($000) | ($000) |
||
BUDGETARY REQUIREMENTS |
||||||
Current Account: |
||||||
Gross Expenditure (Note 1) |
3,166,250 |
3,143,203 |
||||
Related Revenues |
226,610 |
172,736 |
||||
Net Expenditure |
2,939,640 |
2,970,467 |
||||
Provincial and Federal Revenues (Note 2) |
3,063,085 |
3,079,660 |
||||
Financial Contribution | (123,445) | (109,193) |
||||
Capital Account: |
||||||
Gross Expenditure |
242,181 |
251,229 |
||||
Related Revenues |
138,749 |
121,929 |
||||
Net Expenditure |
103,432 |
129,300 |
||||
Other: |
||||||
Contingency Reserve |
30,000 |
- |
||||
TOTAL BUDGETARY REQUIREMENTS |
9,987 |
20,107 |
||||
NON-BUDGETARY TRANSACTIONS |
||||||
Debt Retirement: |
||||||
Redemptions (See Appendix II) |
322,000 |
419,713 |
||||
Sinking Funds (See Appendix II) |
44,052 |
43,941 |
||||
Total Debt Retirement |
||||||
366,052 |
463,654 |
|||||
Retirement of Pension Liabilities | 279,000 |
30,000 |
||||
TOTAL NON-BUDGETARY TRANSACTIONS |
645,052 |
493,654 |
||||
TOTAL BORROWING REQUIREMENTS | 655,039 |
513,761 |
Note 1: Excluded from the 1997-98 gross current expenditures is the payment approximating $350 million made to establish the Labrador Transportation Initiative Fund. Note 2: Excluded from the 1997-98 Revised Provincial and Federal Revenues is a revenue amount approximating $350 million relating to an agreement with the Federal Government to transfer to the Province responsibility for Coastal Labrador Marine Services. |