Report on Resources — Continued

2002/03 Resource Summary — BC Transportation Financing Authority

	Estimated	Actual	Variance
Revenues ($000)
Dedicated Revenue1	203,200	223,224	(20,024)
Capital Contributions	181,054	187,457	(6,403)
Contractor fees2	19,000	753	18,247
Other	6,130	7,668	(1,538)
Total	409,384	419,102	(9,718)
Expenditures ($000)
Amortization	280,736	286,275	(5,539)
Interest3	154,119	126,078	28,041
Operations and Administration	6,332	2,971	3,361
Sierra Yoyo Desan Road Improvements		2,830	(2,830)
Construction and wage benefits2	19,000	753	18,247
Grant programs	4,800	377	4,423
Write down of project costs and disposal of assets		12,848	(12,848)
Total	464,987	432,132	32,855
Net Income (Loss) ($000)
(Loss) Earnings before extraordinary item	(55,603)	(13,030)	42,573
Extraordinary Item	—	6,739	(6,739)
Net (Loss) earnings after extraordinary item	(55,603)	(19,769)	35,834
Consolidated Capital Plan Expenditures (CCP) ($000)
Total	254,020	274,618	(20,598)

1	Dedicated revenues exceeded budget due to the new 3.5 cents per litre fuel tax levied March 1st, 2003 to finance the Transportation Investment Plan. $19.6 million was collected and will be used for future expenditures under the plan.
2	Contractor fees to recover construction wages and benefits were down as BCTFA's subsidiary, Highway Constructors Ltd. completed projects and is winding up.
3	Interest costs were significantly below budget due to continued low interest rates.