Schedule H
RECONCILIATION OF SURPLUS/(DEFICIT) TO CHANGE IN TAXPAYER-SUPPORTED DEBT AND STATEMENT OF TOTAL DEBT1, 2
($000)
Estimates3 2003/04		Updated Forecast3 2003/04					Estimates 2004/05
TAXPAYER-SUPPORTED DEBT
2,234,000		1,644,000		(Surplus)/Deficit 4			(100,000)
7,000		(7,000)		Self-Supported Crown Corporation and Agency Income in Excess of Contributions to the			110,000
					Consolidated Revenue Fund 5
(2,000,000)		(2,530,000)		Adjustment for Expenses Not Requiring Working Capital or Other Borrowing 6			(1,550,000)
73,000		(473,000)		Working Capital Changes			504,000
314,000		(1,366,000)			Operating Requirement (Source)		(1,036,000)
1,852,000		1,774,000		Tangible Capital Asset Expenditures (Schedule D1)			1,943,000
1,852,000		1,774,000			Capital Requirement		1,943,000
743,000		743,000		Loan, Investment and Other Requirements (Schedule E)			685,000
2,909,000		1,151,000		Net Increase/(Decrease) in Taxpayer-Supported Debt			1,592,000
29,649,000		29,429,000		Taxpayer-Supported Debt, Beginning of Year 7			30,580,000
32,558,000		30,580,000		Taxpayer-Supported Debt, End of Year			32,172,000
2,683,000		2,705,000			Add: Sinking fund investments		2,525,000
(175,000)		(418,000)			Less: Taxpayer-supported third party guarantees and non-guaranteed debt		(387,000)
35,066,000		32,867,000		Taxpayer-Supported Debt, End of Year (net of guarantees and non-guaranteed debt)			34,310,000
SELF-SUPPORTED DEBT
				Self-Supported Crown Corporation and Agency Debt
7,689,000		7,038,000			British Columbia Hydro and Power Authority		7,174,000
478,000		—			British Columbia Railway Company		—
253,000		223,000			Other Crown Corporation and Agency Debt 8		6,000
8,420,000		7,261,000		Total Self-Supported Crown Corporation and Agency Debt			7,180,000
1,087,000		972,000			Add: Sinking fund investments		986,000
(264,000)		(222,000)			Less: Debt guarantees and non-guaranteed debt		(6,000)
9,243,000		8,011,000		Self-Supported Debt (net of guarantees and non-guaranteed debt)			8,160,000
500,000		—		Forecast Allowance			100,000
44,809,000		40,878,000		Total Debt (net of guarantees and non-guaranteed debt)			42,570,000

 

1		Figures have been rounded to the nearest million.
2		Further details on debt are provided in Appendix Table A14 in the Budget and Fiscal Plan - 2004/05 to 2006/07.
3		The 2003/04 Estimates and Updated Forecast amounts have been restated to be conform with the 2004/05 Estimates presentation. See Significant Presentation Changes (Note 1) for details.
4		For purposes of the debt reconciliation a surplus is shown as a negative amount as it reduces government debt. Conversely, a deficit is shown as a positive amount as it increases government debt.
5		Represents the elimination of self-supported Crown corporation/agency income which is included in the Summary Accounts deficit but has not been transferred to the Consolidated Revenue Fund. The excess earnings remain in the Crown corporation/agency and reduce self-supported Crown corporation/agency debt.
6		These adjustments include, primarily, the amortization of capital assets and the forecast allowance.
7		Includes taxpayer-supported third party guarantees.  The amount reported in the 2002/03 Public Accounts ($28,871 million) excludes third party guarantees of $189 million and SUCH sector related debt of $368 million.
8		The 2003/04 Estimates and Updated Forecast amounts include, primarily, the debt related to Columbia River power projects.  In 2004/05 this debt has been reclassified as taxpayer-supported debt as a result of Columbia Basin Trust's planned acquisition of Columbia Power Corporation.  The remaining debt in 2004/05 relates to the Liquor Distribution Branch.