Schedule C

FINANCING TRANSACTIONS

PREPAID CAPITAL ADVANCES ¹

(for the Fiscal Year Ending March 31, 2003)

($000)

Net Cash

Source

Receipts

Disbursements

(Requirement)

Ministry of Advanced Education ²

   Prepaid Capital Advances

— 

200,350 

(200,350)

Ministry of Education ²

   Prepaid Capital Advances

— 

265,800 

(265,800)

Ministry of Health Services ²

   Prepaid Capital Advances

— 

272,900 

(272,900)

Ministry of Transportation ²

   Prepaid Capital Advances (British Columbia Transit)

— 

12,170 

(12,170)

   Prepaid Capital Advances (Rapid Transit Project 2000)

— 

142,900 

(142,900)

Total Prepaid Capital Advances

— 

894,120 

(894,120)

¹     Commencing in 1998/99, loans and capital funding provided to school districts and post secondary institutions are treated, for financial statement reporting purposes, as prepaid capital advances (assets of the Consolidated Revenue Fund (CRF)) and amortized over the useful life of the underlying assets. The amortization period for these advances, on average, approximates 30 years.  Commencing with the 2000/01 fiscal year, loans and capital funding provided to British Columbia Transit and health facilities for capital projects are accounted for in the same manner.   Since the borrowing for schools, post secondary institutions, public transit and health facilities capital is now raised directly through the CRF, these financial requirements are included in the annual Supply Act.

²     Disbursements by the Ministry of Advanced Education are for capital costs of new buildings, renovations and improvements to universities, colleges, institutes and agencies. Disbursements by the Ministry of Education are for capital costs of new buildings, renovations and improvements to schools and other school district buildings and for bus and equipment purchases. Disbursements by the Ministry of Health Services are for capital costs of new buildings, renovations and improvements for health facilities and agencies. Disbursements by the Ministry of Transportation are for capital expenditures for public passenger transit services, rapid transit in the lower mainland, and capitalized borrowing costs relating to Rapid Transit Project 2000 debt.