Quebec 18-K/A Annual report (foreign governments) (amended)

GOUVERNEMENT DU QUÉBEC
SUMMARY OF CONSOLIDATED FINANCIAL TRANSACTIONS
2004-2005 FORECAST
(millions of dollars)

Budgetary transactions of the Consolidated Revenue Fund
Own-source revenue	45 358
Federal transfers	8 476
Total revenue	53 834
Program spending	–47 151
Debt service	–6 939
Total expenditure	–54 090
Net results of consolidated organizations	256
Budget balance	0
Non-budgetary transactions
Investments, loans and advances	–996
Capital expenditures	–1 158
Retirement plans	2 118
Other accounts	–428
Non-budgetary requirements	–464
Net financial surplus (requirements)
Consolidated Revenue Fund	500
Consolidated organizations	–964
	–464
Financing transactions
Change in cash position	1 644
Change in direct debt	1 365
Retirement plans sinking fund	–2 545
Total financing of transactions	464

Note:

A negative entry indicates a financial requirement and a positive entry, a source of financing. For the change in cash position, a negative entry indicates an increase and a positive entry, a decrease.

GOUVERNEMENT DU QUÉBEC
BUDGETARY REVENUE OF THE CONSOLIDATED REVENUE FUND
2004-2005 FORECAST
(millions of dollars)

Own-source revenue
Income and property taxes
	Personal income tax	17 201
	Contributions to the Health Services Fund	4 869
	Corporate taxes1	4 248
		26 318
Consumption taxes
	Sales	9 232
	Fuel	1 681
	Tobacco	986
		11 899
Duties and permits
	Motor vehicles	713
	Alcoholic beverages	160
	Natural resources	80
	Other	174
		1 127
Miscellaneous
	Sales of goods and services	437
	Interest	362
	Fines, forfeitures and recoveries	392
		1 191
Revenue from government enterprises
	Société des alcools du Québec	601
	Loto-Québec	1 419
	Hydro-Québec	2 040
	Other	763
		4 823
Total own-source revenue		45 358
Federal transfers
	Equalization	4 942
	Canada Health and Social Transfer	2 890
	Other transfers related to fiscal arrangements	25
	Other programs	619
Total federal transfers		8 476
Total budgetary revenue		53 834

1

Includes tax on corporate profits, tax on capital and tax on premiums in lieu of the tax on capital for insurance companies, as well as the tax on telecommunications, gas and electricity.

GOUVERNEMENT DU QUÉBEC
EXPENDITURE OF THE CONSOLIDATED REVENUE FUND
2004-2005 FORECAST
(millions of dollars)

Program spending	–47 151
Debt service	–6 939
Total expenditure of the Consolidated Revenue Fund	–54 090

GOUVERNEMENT DU QUÉBEC
BUDGETARY TRANSACTIONS OF CONSOLIDATED ORGANIZATIONS
2004-2005 FORECAST
(millions of dollars)

Revenue
Revenue	2 395
Federal transfers	495
	2 890
Expenditure
Expenditure excluding debt service	–1 980
Debt service	–654
	–2 634
Net results	256

GOUVERNEMENT DU QUÉBEC
NON-BUDGETARY TRANSACTIONS
2004-2005 FORECAST
(millions of dollars)

Investments, loans and advances
Consolidated Revenue Fund		–834
Consolidated organizations		–162
Total investments, loans and advances		–996
Capital expenditures
Consolidated Revenue Fund
	Net investments	–305
	Depreciation	212
		–93
Consolidated organizations		–1 065
Total capital expenditures		–1 158
Retirement plans
Contributions		5 317
Benefits and other payments		–3 199
Total retirement plans		2 118
Other accounts
Consolidated Revenue Fund		–435
Consolidated organizations		7
Total other accounts		–428
Total non-budgetary transactions		–464

Note:

A negative entry indicates a financial requirement and a positive entry, a source of financing.

GOUVERNEMENT DU QUÉBEC
FINANCING TRANSACTIONS
2004-2005 FORECAST
(millions of dollars)

Change in cash position
Consolidated Revenue Fund		1 644
Consolidated organizations		—
Total change in cash position		1 644
Change in direct debt
Consolidated Revenue Fund
	New borrowings	5 704
	Repayment of borrowings	–5 303
		401
Consolidated organizations
	New borrowings	2 180
	Repayment of borrowings	–1 216
		964
Total change in direct debt		1 365
Retirement plans sinking fund		–2 545
Total financing of transactions		464

Note:

A negative entry indicates a financial requirement and a positive entry, a source of financing. For the change in cash position, a negative entry indicates an increase and a positive entry, a decrease.