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| NOTES |
| 1 |
|
For comparative purposes only, figures shown for 2003/04 expense, FTEs and capital expenditures have been restated to be consistent with the presentation of the 2004/05 Estimates. Schedule A presents a detailed reconciliation. |
| 2 |
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Details of prepaid capital advances are presented in Schedule C. |
| 3 |
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Details of capital expenditures are presented in Schedule D. |
| 4 |
|
Details of loans, investments and other requirements are presented in Schedule E. |
| 5 |
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Details of revenue collected for, and transferred to, other entities are presented in Schedule F. |
| 6 |
|
Details of FTEs are presented in Schedule G. |
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OPERATING EXPENSE BY SUB-VOTE
|
| $000 |
| |
| |
Estimates
2003/04 |
|
Estimates
2004/05 |
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| VOTE 39 — MANAGEMENT OF PUBLIC FUNDS AND DEBT |
| This vote provides for the cost of managing public funds and debt resulting from borrowing activities to finance provincial operating and capital requirements; borrowing on behalf of government bodies under the fiscal agency loan program and under financial agreements; and borrowing for the provincial treasury revenue program (eliminated for 2004/05) and the warehouse program. |
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| COST OF BORROWING FOR GOVERNMENT OPERATING AND CAPITAL FINANCING PURPOSES (NET OF RECOVERIES) |
| |
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Voted Appropriations |
| |
Government Operating Purposes. |
|
925,991 |
|
799,992 |
| |
Schools Capital Financing |
|
1 |
|
1 |
| |
Post Secondary Institutions Capital Financing |
|
1 |
|
1 |
| |
Health Facilities Capital Financing |
|
1 |
|
1 |
| |
Public Transit Capital Financing. |
|
1 |
|
1 |
| |
SkyTrain Extension Capital Financing. |
|
1 |
|
1 |
| |
|
|
925,996 |
|
799,997 |
| |
| Voted Appropriations Description: This sub-vote provides for the cost of interest, and all associated costs and fees, on debt incurred or assumed for government operating purposes and for education, health facility and public transit capital financing purposes. Capital costs include approved construction of new buildings, renovations and improvements; bus and equipment purchases; and infrastructure for transit and rapid transit. Recoveries from the use of financial instruments such as interest rate swaps and forward rate agreements, and revenue earned from sinking fund investments, prefunding operations and special programs, are offset against the related interest expenditure. Costs associated with the student loans program and capital borrowing for education and health facilities and transit projects are recovered from the debt servicing appropriations in the Ministries of Advanced Education, Education, Health Services and Transportation. |
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| COST OF BORROWING FOR RELENDING TO GOVERNMENT BODIES (NET OF RECOVERIES) |
| |
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Voted Appropriation |
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Cost of Borrowing for Relending to Government Bodies. |
|
1 |
|
1 |
| |
| |
Voted Appropriation Description: This sub-vote provides for the cost of interest on borrowings under the fiscal agency loan program, and all associated costs. Recoveries from the use of financial instruments such as interest rate swaps and forward rate agreements are offset against the related interest expenditure, the remaining costs are fully recovered from government bodies. |
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| COST OF FINANCIAL AGREEMENTS ENTERED INTO ON BEHALF OF GOVERNMENT BODIES (NET OF RECOVERIES) |
| |
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Voted Appropriation |
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Cost of Financial Agreements Entered into on Behalf of Government Bodies |
|
1 |
|
1 |
| |
| |
Voted Appropriation Description: This sub-vote provides for the cost of financial agreements entered into by the government on behalf of government bodies and all associated costs. These agreements are in relation to borrowings of the government bodies that do not involve the provincial government, and to commodity derivatives. Recoveries from the use of financial instruments such as interest rate swaps and forward rate agreements are offset against the related interest expenditure, the remaining costs are fully recovered from government bodies. |
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| PROVINCIAL TREASURY REVENUE PROGRAM (ELIMINATED FOR 2004/05) |
| |
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Voted Appropriation |
| |
Provincial Treasury Revenue Program |
|
1 |
|
— |
| |
| |
Voted Appropriation Description: This sub-vote provided for costs associated with special revenue programs. The programs were structured so that interest (and other earnings) on program assets exceeded interest (and other payments) on program liabilities. Any profit or loss was transferred to the Provincial Treasury Revenue Special Account. Recoveries could be made from investment earnings of the Consolidated Revenue Fund. Recoveries from the use of financial instruments such as interest rate swaps and forward rate agreements were offset against the related interest expenditure. |
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| COST OF UNALLOCATED BORROWING UNDER THE WAREHOUSE BORROWING PROGRAM (NET OF RECOVERIES) |
| |
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Voted Appropriation |
| |
Cost of Unallocated Borrowing under the Warehouse Borrowing Program |
|
1 |
|
1 |
| |
| |
Voted Appropriation Description: This sub-vote provides for the costs associated with debt issued in advance of requirements. At the time of borrowing, the debt has not been allocated to the province or any government body. The program is structured so that interest (and other earnings) on program assets offsets interest (and other payments) on program liabilities. Recoveries from the use of financial instruments such as interest rate swaps and forward rate agreements are offset against the related interest expenditure. There is no profit or loss associated with the program. |
