| | The Honourable Ken Krawetz Deputy Premier Minister of Finance | |
| | | |
| | SASKATCHEWAN BUDGET UPDATE | |
| | 13-14 | |
| | | |
| | BALANCED GROWTH | |
| | 1ST QUARTER FINANCIAL REPORT | |
| | 1st Quarter Financial Report Government of Saskatchewan August 8, 2013 | |
2013-14 1st Quarter Financial Report General Revenue Fund Update |
INTRODUCTION
Through the first quarter of 2013-14, both the economy and the province’s finances generally appear to be tracking consistent with expectations developed for the Budget.
However, recent developments in global potash markets do add a degree of uncertainty to expected performance over the coming months.
The Saskatchewan economy continues to perform well in 2013.
| ▪ | Potash production was up 18.9 per cent in the first five months of 2013 over the same period last year, reflecting improved demand in most major potash markets. |
| Employment growth has been stronger-than-expected, averaging 20,900 more jobs through the first half of 2013 than in the first half of 2012. This 3.9 per cent job growth is the fastest rate in the nation. And, the unemployment rate has averaged 4.0 per cent over the same period – the lowest rate in the nation. |
Through the first 5 months of 2013, Saskatchewan leads national growth in:
| average employment weekly earnings; |
| value of manufacturing sales; and, |
| value of wholesale trade. |
| Saskatchewan Economic Indicators | |
| | | | | | | | | | | | | Change from | | |
| | | 2011 | | | 2012 | | | 2013 | | | | 2012 | | |
| Population at July 1 (000s) | | | 1,057.8 | | | 1,080.0 | | | 1,093.9* | | | | 20.8* | | |
| | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | 2013 | | | | January | | |
| Per Cent Change Unless Noted Otherwise | | | 2011 | | | | 2012 | | | | (year-to-date) | Ranking | | through | | |
| Employment growth (000s) | | | 1.4 | | | | 11.4 | | | | 20.9 | | 1st** | | June | | |
| Unemployment rate (%) | | | 5.0 | | | | 4.7 | | | | 4.0 | | lowest | | June | | |
| Consumer Price Index | | | 2.8 | | | | 1.6 | | | | 1.2 | | 6th lowest | | June | | |
| Average employment weekly earnings | | | 3.8 | | | | 4.8 | | | | 4.1 | | 1st | | May | | |
| Value of manufacturing sales | | | 16.8 | | | | 14.0 | | | | 5.9 | | 1st | | May | | |
| Value of international exports | | | 25.1 | | | | 9.9 | | | | 6.8 | | 2nd | | May | | |
| Value of retail sales | | | 7.5 | | | | 7.6 | | | | 4.1 | | 3rd | | May | | |
| Value of wholesale trade | | | 22.2 | | | | 2.5 | | | | 10.6 | | 1st | | May | | |
| Number of new vehicles sold | | | 7.3 | | | | 10.6 | | | | 5.3 | | 5th | | May | | |
| Value of building permits | | | 25.9 | | | | 19.1 | | | | -4.0 | | 3rd | | May | | |
| Number of housing starts | | | 19.0 | | | | 41.8 | | | | -22.0 | | 8th | | Mar | | |
| Investment in new housing construction | | | 48.5 | | | | 35.0 | | | | 13.6 | | 3rd | | May | | |
| Investment in non-residential building construction | | | -3.9 | | | | 22.4 | | | | 2.8 | | 5th | | June | | |
| Source: Statistics Canada |
| * | As of April 1, 2013. Change is from April 2012 to April 2013. |
| ** | in terms of per cent change |
2013-14 1st Quarter Financial Report | GRF Update 1
While the rates of growth in the value of building permits, the number of housing starts and investment in non-residential building construction are down somewhat, in each case this follows a year that saw stellar growth.
Investment in new housing construction remains strong, growing 13.6 per cent through the first 5 months of 2013. This relatively robust growth follows growth of more than 80 per cent over the previous 2 years.
Exchange rate expectations are currently between 2 and 3 US cents below the 2013-14 Budget assumptions.
| Exchange Rate Forecasts (July 16, 2013) |
| US cents | 2013 | 2014 |
| Global Insight | 97.60 | 96.60 |
| Conference Board | 98.00 | 98.00 |
| TD | 94.80 | 91.30 |
| RBC | 96.20 | 98.00 |
| BMO | 96.90 | 95.40 |
| CIBC | 94.30 | 97.50 |
| Scotia Bank | 95.20 | 97.10 |
| Average | 96.14 | 96.27 |
| 2013-14 Budget | 98.80 | 99.80 |
| Private Sector Real GDP Growth Forecasts For Saskatchewan | |
| (Per Cent Change) | 2013 | 2014 | Release Date |
| TD Bank | 2.6 | 3.0 | Jul-13 |
| IHS Global Insight | 2.3 | 2.6 | Jul-13 |
| Conference Board of Canada | 3.9 | 2.7 | Jun-13 |
| Scotiabank | 2.8 | 2.9 | Jun-13 |
| RBC | 2.9 | 3.7 | Jun-13 |
| Laurentian Bank | 2.0 | 2.7 | Jun-13 |
| BMO | 2.4 | 2.8 | May-13 |
| The Centre for Spatial Economics | 3.1 | 3.4 | Mar-13 |
| CIBC | 2.4 | 2.9 | Jan-13 |
| Average of Private Sector Forecasts | 2.7 | 3.0 | |
| 2013-14 Budget Forecast | 2.6 | 3.1 | |
The budget remains balanced through the first quarter of 2013-14.
| Stronger-than-expected oil prices, combined with a weaker-than-expected US dollar exchange rate, are expected to increase oil revenue by more than enough to offset reduced revenue from Crown land sales, potash and Provincial Sales Tax. |
| Expenses continue to be managed effectively, with the only substantive increase in spending expected for disaster assistance. |
Government debt remains at $3.8 billion.
The Growth and Financial Security Fund balance is expected to be almost $683 million at the end of 2013-14.
2 2013-14 1st Quarter Financial Report | GRF Update
FINANCIAL OVERVIEW
The 2013-14 first quarter report shows:
| revenue is up $11.8 million or 0.1 per cent from budget; and, |
| expense is up $43.6 million or 0.4 per cent from budget. |
The resulting pre-transfer surplus is $33.0 million.
A $682.8 million balance remains in the
Growth and Financial Security Fund (GFSF) after a $16.5 million transfer from the GRF. The security component remains at $516.3 million – the balance at the end of 2012-13 – while the growth component increases from an opening balance of $150.0 million to $166.5 million.
Government general public debt is forecast to be $3.8 billion at the end of 2013-14, unchanged from the 2012-13 actual.
2013-14 GRF 1st Quarter Financial Overview | | |
| | | Budget | | | 1st Quarter | | | Change from | | |
| | | Estimate | | | Forecast | | | Budget | | |
| | | (millions of dollars) | | |
| Revenue | | | 11,607.3 | | | | 11,619.1 | | | | 11.8 | | |
| Expense | | | 11,542.5 | | | | 11,586.1 | | | | 43.6 | | |
| Pre-Transfer Surplus | | | 64.8 | | | | 33.0 | | | | (31.8 | ) | |
| Transfer (to) GFSF | | | (32.4 | ) | | | (16.5 | ) | | | 15.9 | | |
| Transfer from GFSF | | | - | | | | - | | | | - | | |
| Net Transfer from (to) GFSF | | | (32.4 | ) | | | (16.5 | ) | | | 15.9 | | |
| GRF Surplus | | | 32.4 | | | | 16.5 | | | | (15.9 | ) | |
| | | | | | | | | | | | | | |
| GFSF Opening Balance * | | | 662.7 | | | | 666.3 | | | | 3.6 | | |
| Net Transfer from (to) GRF | | | 32.4 | | | | 16.5 | | | | (15.9 | ) | |
| GFSF Balance | | | 695.1 | | | | 682.8 | | | | (12.3 | ) | |
| GFSF Balance - Security | | | 512.7 | | | | 516.3 | | | | 3.6 | | |
| GFSF Balance - Growth | | | 182.4 | | | | 166.5 | | | | (15.9 | ) | |
| | | | | | | | | | | | | | |
| Government General Public Debt ** | | | 3,804.8 | | | | 3,804.8 | | | | - | | |
| * | 1st Quarter Forecast of 2013-14 opening balance has been adjusted to reflect 2012-13 actual transfers to the GFSF. | | |
| ** | Budget Estimate figure has been adjusted to reflect the 2012-13 actual level. | | |
2013-14 1st Quarter Financial Report | GRF Update 3
At the first quarter, GRF revenue is forecast to increase $11.8 million from budget. The increase is due to higher non-renewable resource revenue, partially offset by lower taxation revenue.
| Revenue Reconciliation | |
| (millions of dollars) | |
| | | | |
| Budget Estimate | | $ | 11,607.3 | |
| First Quarter Changes | | | | |
| Oil | | | + 92.0 | |
| Natural Gas | | | + 1.7 | |
| Crown Land Sales | | | - 45.6 | |
| Potash | | | - 21.3 | |
| Provincial Sales Tax | | | - 15.0 | |
| Total Change | | | + 11.8 | |
| | | | | |
| 1st Quarter Forecast | | $ | 11,619.1 | |
Taxation revenue is forecast to decrease $15.0 million due to a decrease in Provincial Sales Tax (PST) revenue, to reflect year-to-date results through the first quarter of 2013-14.
| 2013-14 Fiscal Year Key Resource Forecast Assumptions | |
| | | Budget | | 1st Quarter | |
| | | Estimate | | Forecast | |
| WTI Oil Price (US$ per barrel) | | | 92.84 | | | 95.03 | |
Well-head Oil Price (C$ per barrel)1 | | | 75.29 | | | 80.01 | |
| Oil Production (millions of barrels) | | | 171.8 | | | 173.0 | |
| Total Oil Revenue ($Millions) | | | 1,441.2 | | | 1,533.2 | |
Potash Price (mine netback, US$ per KCl tonne)2 | | | 395 | | | 372 | |
Potash Price (mine netback, C$ per K2O tonne)2 | | | 654 | | | 636 | |
Potash Sales (million K2O tonnes) | | | 10.4 | | | 10.4 | |
| Total Potash Revenue ($Millions) | | | 519.9 | | | 498.6 | |
| Fieldgate Natural Gas Price (C$ per gigajoule) | | | 3.07 | | | 3.36 | |
| Natural Gas Production (billion cubic feet) | | | 123.1 | | | 122.3 | |
| Total Natural Gas Revenue ($Millions) | | | 9.6 | | | 11.3 | |
| Canadian Dollar (US cents) | | | 98.92 | | | 96.00 | |
| 1 | The average price per barrel of Saskatchewan light, medium and heavy oil. | |
| 2 | Ministry of Finance calculations derived from calendar-year forecasts. | |
| Crown land sales revenue is forecast to decrease by $45.6 million resulting from lower-than-expected year-to-date sales, primarily due to an industry reallocation of capital towards drilling for lease continuance and development purposes, combined with concerns regarding transportation of crude oil to market. |
| Oil is forecast to increase by $92.0 million, primarily due to a higher average West Texas Intermediate (WTI) oil price forecast, a lower exchange rate forecast, a smaller light-heavy differential and an increase in production. |
The average 2013-14 WTI oil price is now forecast at US$95.03 per barrel, up from the budget assumption of US$92.84 per barrel.
4 2013-14 1st Quarter Financial Report | GRF Update
| WTI Price Forecasts (July 19, 2013) |
| $US/barrel | 2013 | 2014 |
| BMO | 96.00 | 99.00 |
| EIA | 94.65 | 91.96 |
| GLJ | 94.52 | 95.00 |
| NYMEX Futures | 99.75 | 95.33 |
| Scotia Bank | 95.00 | 98.00 |
| Sproule | 94.67 | 91.44 |
| TD | 94.00 | 94.25 |
| Average (Confidential Forecasts)* | 94.83 | 93.86 |
| Average | 95.31 | 94.66 |
| * | The Ministry of the Economy receives, in confidence, other private sector forecasts. |
The current average exchange rate forecast is 96.00 US cents, down from the budget estimate of 98.92 US cents. The light-heavy differential has decreased from 17.9 per cent at budget to 15.5 per cent at first quarter.
The above-mentioned factors have resulted in a 2013-14 average well-head price, in Canadian dollars, of $80.01 per barrel, up from the budget assumption of $75.29 per barrel.
In addition, oil production has increased from 171.8 million barrels at budget to 173.0 million barrels.
| Potash is forecast to decrease by $21.3 million, primarily due to a $20.0 million sensitivity adjustment to account for uncertainty arising from recent global potash market developments. |
Transfers from the Government of Canada are unchanged from budget, reflecting an increase due to anticipated federal cost sharing of 2013 disaster assistance claims, offset by anticipated reductions in federal cost sharing for prior-year claims.
EXPENSE UPDATE
At the first quarter, GRF expense is forecast to increase $43.6 million from budget.
| Expense Reconciliation | |
| (millions of dollars) | |
| | | | |
| Budget Estimate | | $ | 11,542.5 | |
| First Quarter Changes | | | | |
| Government Relations | | | + 43.6 | |
| Total Change* | | | + 43.6 | |
| | | | | |
| 1st Quarter Forecast | | $ | 11,586.1 | |
| * | Total Change includes small changes for the Legislative Assembly ($28K) and the Provincial Auditor ($7K). | |
| Government Relations is up $43.6 million from budget for the Provincial Disaster Assistance Program, mainly related to 2013 claims and outstanding prior-year claims. |
2013-14 1st Quarter Financial Report | GRF Update 5
The GRF borrows for government and Crown corporations. Public debt is composed of gross debt less sinking funds.
Government general public debt at March 31, 2014 is currently forecast to be $3.8 billion, unchanged from March 31, 2013 and $2.8 million lower than the budgeted amount.
Crown corporations are responsible for the principal and interest payments on their debt. Crown corporation debt is incurred in the normal course of business, primarily for investment in infrastructure and business development initiatives which provide revenue streams to service the debt.
Crown corporation debt is divided into two components: Crown corporation general debt and Government business enterprise (GBE) specific debt.
Crown corporation general public debt is forecast to be $0.6 billion, a decrease of $260.0 million from March 31, 2013 and a decrease of $104.7 million from the budgeted amount. GBE specific public debt is forecast to be $5.8 billion, an increase of $1,265.3 million from March 31, 2013 and an increase of $220.5 million from the budgeted amount.
Taken together, Crown corporation public debt is currently forecast to be $6.4 billion, an increase of $1.0 billion from March 31, 2013, and an increase of $115.8 million from the budgeted amount. The increases are primarily due to higher borrowing requirements at SaskPower.
| 2013-14 1st Quarter Debt Overview | |
| | | | | | As at March 31, 2014 | | | Change from | | |
| | | | 2012-13 | | | Budget | | | 1st Quarter | | | | 2012-13 | | | Budget | | |
| Debt as at March 31 | | Actual | | | Estimate | | | Forecast | | | Actual | | | Estimate | | |
| | | (millions of dollars) | | |
| GRF Government General Public Debt | | | 3,804.8 | | | | 3,807.6 | | | | 3,804.8 | | | | - | | | | (2.8 | ) | |
| GRF Crown Corporation Public Debt | | | | | | | | | | | | | | | | | | | | | |
| Crown Corporation General | | | 886.5 | | | | 731.2 | | | | 626.5 | | | | (260.0 | ) | | | (104.7 | ) | |
| Government Business Enterprise Specific | | | 4,487.9 | | | | 5,532.7 | | | | 5,753.2 | | | | 1,265.3 | | | | 220.5 | | |
| GRF Crown Corporation Public Debt | | | 5,374.4 | | | | 6,263.9 | | | | 6,379.7 | | | | 1,005.3 | | | | 115.8 | | |
| | | | | | | | | | | | | | | | | | | | | | |
| GRF Public Debt | | | 9,179.2 | | | | 10,071.5 | | | | 10,184.5 | | | | 1,005.3 | | | | 113.0 | | |
| Guaranteed Debt | | | 132.0 | | | | 183.1 | | | | 185.5 | | | | 53.5 | | | | 2.4 | | |
6 2013-14 1st Quarter Financial Report | GRF Update
| 2013-14 First Quarter Financial Report | | | | | | | | | |
| Province of Saskatchewan | | | | | | | | | |
| General Revenue Fund | | | | | | | | | |
| Schedule of Revenue | | | | | | | | | |
| | | Budget | | | 1st Quarter | | | Change from | |
| | | Estimate | | | Forecast | | | Budget | |
| | | (thousands of dollars) | |
| | | | | | | | | | |
| Corporation Income | | | 986,800 | | | | 986,800 | | | | - | |
| Fuel | | | 526,100 | | | | 526,100 | | | | - | |
| Individual Income | | | 2,445,500 | | | | 2,445,500 | | | | - | |
| Provincial Sales | | | 1,401,400 | | | | 1,386,400 | | | | (15,000 | ) |
| Tobacco | | | 295,300 | | | | 295,300 | | | | - | |
| Other | | | 336,500 | | | | 336,500 | | | | - | |
| Taxes | | | 5,991,600 | | | | 5,976,600 | | | | (15,000 | ) |
| | | | | | | | | | | | | |
| Crown Land Sales | | | 111,400 | | | | 65,800 | | | | (45,600 | ) |
| Natural Gas | | | 9,600 | | | | 11,300 | | | | 1,700 | |
| Oil | | | 1,441,200 | | | | 1,533,200 | | | | 92,000 | |
| Potash | | | 519,900 | | | | 498,600 | | | | (21,300 | ) |
| Resource Surcharge | | | 488,800 | | | | 488,800 | | | | - | |
| Other | | | 99,700 | | | | 99,700 | | | | - | |
| Non-Renewable Resources | | | 2,670,600 | | | | 2,697,400 | | | | 26,800 | |
| | | | | | | | | | | | | |
| Crown Investments Corporation of Saskatchewan | | | 180,000 | | | | 180,000 | | | | - | |
| - Special Dividend | | | 16,600 | | | | 16,600 | | | | - | |
| Saskatchewan Liquor and Gaming Authority | | | 491,800 | | | | 491,800 | | | | - | |
| Other Enterprises and Funds | | | 60,300 | | | | 60,300 | | | | - | |
| Transfers from Crown Entities | | | 748,700 | | | | 748,700 | | | | - | |
| | | | | | | | | | | | | |
| Fines, Forfeits and Penalties | | | 19,400 | | | | 19,400 | | | | - | |
| Investment Income | | | 89,400 | | | | 89,400 | | | | - | |
| Motor Vehicle Fees | | | 183,300 | | | | 183,300 | | | | - | |
| Other Licences and Permits | | | 26,200 | | | | 26,200 | | | | - | |
| Sales, Services and Service Fees | | | 132,800 | | | | 132,800 | | | | - | |
| Transfers from Other Governments | | | 16,900 | | | | 16,900 | | | | - | |
| Other | | | 100,000 | | | | 100,000 | | | | - | |
| Other Revenue | | | 568,000 | | | | 568,000 | | | | - | |
| Own-Source Revenue | | | 9,978,900 | | | | 9,990,700 | | | | 11,800 | |
| | | | | | | | | | | | | |
| Canada Health Transfer | | | 959,200 | | | | 959,200 | | | | - | |
| Canada Social Transfer | | | 377,900 | | | | 377,900 | | | | - | |
| Other | | | 291,300 | | | | 291,300 | | | | - | |
| Transfers from the Government of Canada | | | 1,628,400 | | | | 1,628,400 | | | | - | |
| Revenue | | | 11,607,300 | | | | 11,619,100 | | | | 11,800 | |
| | | | | | | | | | | | | |
2013-14 1st Quarter Financial Report | GRF Update 7
| 2013-14 First Quarter Financial Report | | | | | | | | | |
| Province of Saskatchewan | | | | | | | | | |
| General Revenue Fund | | | | | | | | | |
| Schedule of Expense | | | | | | | | | |
| | | Budget | | | 1st Quarter | | | Change from | |
| | | Estimate | | | Forecast | | | Budget | |
| | | (thousands of dollars) | |
| Ministries and Agencies | | | | | | | | | |
| Advanced Education | | | 787,716 | | | | 787,716 | | | | - | |
| Agriculture | | | 406,860 | | | | 406,860 | | | | - | |
| Central Services | | | 74,045 | | | | 74,045 | | | | - | |
| Economy | | | 275,517 | | | | 275,517 | | | | - | |
| Education | | | 1,381,540 | | | | 1,381,540 | | | | - | |
| - Teachers' Pensions and Benefits | | | 321,944 | | | | 321,944 | | | | - | |
| Environment | | | 163,275 | | | | 163,275 | | | | - | |
| Executive Council | | | 17,818 | | | | 17,818 | | | | - | |
| Finance | | | 68,788 | | | | 68,788 | | | | - | |
| - Public Service Pensions and Benefits | | | 291,076 | | | | 291,076 | | | | - | |
| Finance Debt Servicing | | | 340,000 | | | | 340,000 | | | | - | |
| Government Relations | | | 477,309 | | | | 520,895 | | | | 43,586 | |
| Health | | | 4,841,661 | | | | 4,841,661 | | | | - | |
| Highways and Infrastructure | | | 423,336 | | | | 423,336 | | | | - | |
| Innovation Saskatchewan | | | 28,006 | | | | 28,006 | | | | - | |
| Justice | | | 541,975 | | | | 541,975 | | | | - | |
| Labour Relations and Workplace Safety | | | 18,440 | | | | 18,440 | | | | - | |
| Parks, Culture and Sport | | | 104,765 | | | | 104,765 | | | | - | |
| Saskatchewan Research Council | | | 19,743 | | | | 19,743 | | | | - | |
| SaskBuilds Corporation | | | 8,300 | | | | 8,300 | | | | - | |
| Social Services | | | 889,607 | | | | 889,607 | | | | - | |
| Water Security Agency | | | 15,480 | | | | 15,480 | | | | - | |
| | | | | | | | | | | | | |
| Legislative Assembly and its Officers | | | | | | | | | | | | |
| Chief Electoral Officer | | | 2,195 | | | | 2,195 | | | | - | |
| Children's Advocate | | | 3,800 | | | | 3,800 | | | | - | |
| Conflict of Interest Commissioner | | | 148 | | | | 148 | | | | - | |
| Information and Privacy Commissioner | | | 1,116 | | | | 1,116 | | | | - | |
| Legislative Assembly | | | 26,257 | | | | 26,285 | | | | 28 | |
| Ombudsman | | | 3,354 | | | | 3,354 | | | | - | |
| Provincial Auditor | | | 8,457 | | | | 8,464 | | | | 7 | |
| | | | | | | | | | | | | |
| Expense | | | 11,542,528 | | | | 11,586,149 | | | | 43,621 | |
| | | | | | | | | | | | | |
8 2013-14 1st Quarter Financial Report | GRF Update
| 2013-14 First Quarter Financial Report | | | | | | | | | |
| Province of Saskatchewan | | | | | | | | | |
| General Revenue Fund | | | | | | | | | |
| Schedule of Debt | | | | | | | | | |
| | | | | | 2013-14 | | | Change from | |
| | | 2012-13 | | | 1st Quarter | | | 2012-13 | |
| Debt as at March 31 | | Actual | | | Forecast | | | Actual | |
| | | (thousands of dollars) | |
| | | | | | | | | | | | | |
| Government General Public Debt | | | 3,804,817 | | | | 3,804,817 | | | | - | |
| | | | | | | | | | | | | |
| Crown Corporation General Debt | | | | | | | | | | | | |
| Information Services Corporation of Saskatchewan | | | 9,935 | | | | - | | | | (9,935 | ) |
| Municipal Financing Corporation of Saskatchewan | | | 15,289 | | | | 15,289 | | | | - | |
| Saskatchewan Housing Corporation | | | 25,282 | | | | 23,679 | | | | (1,603 | ) |
| Saskatchewan Liquor and Gaming Authority | | | 125,064 | | | | - | | | | (125,064 | ) |
| Saskatchewan Opportunities Corporation | | | 35,291 | | | | 34,860 | | | | (431 | ) |
| Saskatchewan Power Corporation | | | 95,303 | | | | 94,086 | | | | (1,217 | ) |
| Saskatchewan Telecommunications Holding Corporation | | | 157,000 | | | | 89,600 | | | | (67,400 | ) |
| Saskatchewan Water Corporation | | | 16,203 | | | | 15,603 | | | | (600 | ) |
| SaskEnergy Incorporated | | | 407,117 | | | | 353,400 | | | | (53,717 | ) |
| Crown Corporation General Public Debt | | | 886,484 | | | | 626,517 | | | | (259,967 | ) |
| | | | | | | | | | | | | |
| Government Business Enterprise Specific Debt | | | | | | | | | | | | |
| Municipal Financing Corporation of Saskatchewan | | | 132,377 | | | | 242,642 | | | | 110,265 | |
| Saskatchewan Gaming Corporation | | | 6,000 | | | | 6,000 | | | | - | |
| Saskatchewan Liquor and Gaming Authority | | | - | | | | 125,000 | | | | 125,000 | |
| Saskatchewan Power Corporation | | | 3,251,648 | | | | 4,041,273 | | | | 789,625 | |
| Saskatchewan Telecommunications Holding Corporation | | | 495,754 | | | | 634,636 | | | | 138,882 | |
| Saskatchewan Water Corporation | | | 32,044 | | | | 42,964 | | | | 10,920 | |
| SaskEnergy Incorporated | | | 570,055 | | | | 660,657 | | | | 90,602 | |
| Government Business Enterprise Specific Public Debt | | | 4,487,878 | | | | 5,753,172 | | | | 1,265,294 | |
| Public Debt | | | 9,179,179 | | | | 10,184,506 | | | | 1,005,327 | |
| | | | | | | | | | | | | |
| Public Debt by Category | | | | | | | | | | | | |
| Government General Gross Debt | | | 5,025,494 | | | | 4,869,873 | | | | (155,621 | ) |
| Government General Sinking Funds | | | (1,220,677 | ) | | | (1,065,056 | ) | | | 155,621 | |
| Government General Public Debt | | | 3,804,817 | | | | 3,804,817 | | | | - | |
| | | | | | | | | | | | | |
| Crown Corporation Gross Debt | | | 5,988,403 | | | | 7,027,157 | | | | 1,038,754 | |
| Crown Corporation Sinking Funds | | | (614,041 | ) | | | (647,468 | ) | | | (33,427 | ) |
| Crown Corporation Public Debt | | | 5,374,362 | | | | 6,379,689 | | | | 1,005,327 | |
| Public Debt | | | 9,179,179 | | | | 10,184,506 | | | | 1,005,327 | |
| | | | | | | | | | | | | |
| Guaranteed Debt | | | 132,014 | | | | 185,517 | | | | 53,503 | |
| | | | | | | | | | | | | |
2013-14 1st Quarter Financial Report | GRF Update 9
