Exhibit (99.19)
ISSN 1718-8369
Volume 4, number 10 | | April 9, 2010 |
AS AT JANUARY 31, 2010 |
Highlights for January 2010
· Budgetary revenue in January amounts to $5.2 billion, down $156 million compared to last year. Own-source revenue amounts to $3.9 billion while federal transfers stand at $1.3 billion.
· Program spending fell $87 million in January of this year compared to last year, and stands at $4.5 billion.
· Debt service amounts to $506 million, down $18 million compared to January 2009.
· A surplus of $205 million was achieved, i.e. $138 million more than in January 2009.
· Taking the $90 million deposited in the Generations Fund into account, the monthly budgetary balance within the meaning of the Balanced Budget Act shows a surplus of $115 million.
On the basis of the cumulative results as at January 31, 2010, the budgetary balance shows a deficit of $3.0 billion, taking the $433-million stabilization reserve into account. As presented in the 2010-2011 Budget, the budgetary balance for 2009-2010 within the meaning of the Balanced Budget Act is expected to show a deficit of $4.3 billion.
SUMMARY OF CONSOLIDATED BUDGETARY TRANSACTIONS | |
(millions of dollars) | | | | | | (Unaudited data) | |
| | | | | | | |
| | | | | | | | | | Budget
2010-2011 | |
| | January | | April to January | | | | Forecast
Growth | |
| | 2009 | | 2010 | | 2008-2009 | | 2009-2010 | | 2009-2010 | | % | |
BUDGETARY REVENUE | | | | | | | | | | | | | |
Own-source revenue | | 4 176 | | 3 910 | | 40 554 | | 39 526 | | 47 421 | | - 3,0 | |
Federal transfers | | 1 166 | | 1 276 | | 11 638 | | 12 644 | | 15 229 | | 8,6 | |
Total | | 5 342 | | 5 186 | | 52 192 | | 52 170 | | 62 650 | | - 0,4 | |
BUDGETARY EXPENDITURE | | | | | | | | | | | | | |
Program spending | | - 4 633 | | - 4 546 | | - 48 048 | | - 50 345 | | - 60 769 | | 3,8 | |
Debt service | | - 524 | | - 506 | | - 5 544 | | - 5 047 | | - 6 154 | | - 5,4 | |
Total | | - 5 157 | | - 5 052 | | - 53 592 | | - 55 392 | | - 66 923 | | 2,9 | |
NET RESULTS OF CONSOLIDATED ENTITIES1 | | - 118 | | 71 | | 298 | | 308 | | 598 | | — | |
Contingency reserve | | — | | — | | — | | — | | - 300 | | — | |
SURPLUS (DEFICIT) | | 67 | | 205 | | - 1 102 | | - 2 914 | | - 3 975 | | — | |
BALANCED BUDGET ACT | | | | | | | | | | | | | |
Generations Fund2 | | - 71 | | - 90 | | - 434 | | - 567 | | - 715 | | — | |
Stabilization reserve | | — | | — | | — | | 433 | | 433 | | — | |
BUDGETARY BALANCE WITHIN THE MEANING OF THE BALANCED BUDGET ACT | | - 4 | | 115 | | - 1 536 | | - 3 048 | | - 4 257 | | — | |
1 Includes the net results of the non-budget-funded bodies, the special funds, the health and social services and the education networks, and the Generations Fund.
2 The budgetary balance within the meaning of the Balanced Budget Act excludes the results of the Generations Fund.
Cumulative results as at January 31, 2010
Budgetary balance
· For the period from April 2009 to January 2010, the budgetary balance within the meaning of the Balanced Budget Act shows a deficit of $3.0 billion.
Budgetary revenue
· As at January 31, 2010, budgetary revenue amounts to $52.2 billion, $22 million less than as at January 31, 2009.
· Own-source revenue stands at $39.5 billion, $1.0 billion less than last year.
· Federal transfers amount to $12.7 billion, up $1.0 billion compared to January 31, 2009.
Budgetary expenditure
· For the period from April 2009 to January 2010, budgetary expenditure amounts to $55.4 billion, an increase of $1.8 billion, or 3.4%, compared to last year.
· Program spending rose by $2.3 billion, or 4.8%, and stands at $50.3 billion. The most significant changes are in the Health and Social Services ($1.4 billion), Economy and Environment ($419 million) and Support for Individuals and Families ($195 million) missions.
· The difference between the growth experienced until January and forecast growth for the year as a whole is attributable in particular to exceptional items at the end of 2008-2009 that will not be repeated this year. This will slow spending growth at year end.
· For the first ten months of the fiscal year, debt service amounts to $5.1 billion, down $497 million compared to January 2009.
Consolidated entities
· As at January 31, 2010, the net results of consolidated entities show a surplus of $308 million, i.e. $10 million more than last year.
· Revenue dedicated to the Generations Fund amounts to $567 million.
Net financial requirements
· Since the beginning of the year, consolidated net financial requirements stand at $8.2 billion, an increase of $4.2 billion compared to last year. The additional financial requirements reflect the current budget deficit as well as the variation, from one year to the next, in receipts and disbursements made in the course of the government’s operations.
2
CONSOLIDATED BUDGETARY AND FINANCIAL TRANSACTIONS | |
(millions of dollars) | | | | | | | | | | (Unaudited data) | |
| | | | | | | | | | | |
| | January | | April to January | |
| | 2009 | | 2010 | | Change | | 2008-2009 | | 2009-2010 | | Change | |
BUDGETARY REVENUE | | | | | | | | | | | | | |
Own-source revenue | | 4 176 | | 3 910 | | - 266 | | 40 554 | | 39 526 | | - 1 028 | |
Federal transfers | | 1 166 | | 1 276 | | 110 | | 11 638 | | 12 644 | | 1 006 | |
Total | | 5 342 | | 5 186 | | - 156 | | 52 192 | | 52 170 | | - 22 | |
BUDGETARY EXPENDITURE | | | | | | | | | | | | | |
Program spending | | - 4 633 | | - 4 546 | | 87 | | - 48 048 | | - 50 345 | | - 2 297 | |
Debt service | | - 524 | | - 506 | | 18 | | - 5 544 | | - 5 047 | | 497 | |
Total | | - 5 157 | | - 5 052 | | 105 | | - 53 592 | | - 55 392 | | - 1 800 | |
NET RESULTS OF CONSOLIDATED ENTITIES | | - 118 | | 71 | | 189 | | 298 | | 308 | | 10 | |
SURPLUS (DEFICIT) | | 67 | | 205 | | 138 | | - 1 102 | | - 2 914 | | - 1 812 | |
Consolidated non-budgetary surplus (requirements) | | - 454 | | 603 | | 1 057 | | - 2 928 | | - 5 280 | | - 2 352 | |
CONSOLIDATED NET FINANCIAL SURPLUS (REQUIREMENTS) | | - 387 | | 808 | | 1 195 | | - 4 030 | | - 8 194 | | - 4 164 | |
3
CONSOLIDATED REVENUE FUND REVENUE | |
(millions of dollars) | | | | (Unaudited data) | |
| | | | | |
| | January | | April to January | |
| | | | | | Change | | | | | | Change | |
Revenue by source | | 2009 | | 2010 | | % | | 2008-2009 | | 2009-2010 | | % | |
Own-source revenue excluding government enterprises | | | | | | | | | | | | | |
Income and property taxes | | | | | | | | | | | | | |
Personal income tax | | 1 507 | | 1 375 | | - 8.8 | | 15 445 | | 14 759 | | - 4.4 | |
Contributions to Health Services Fund | | 567 | | 598 | | 5.5 | | 4 672 | | 4 747 | | 1.6 | |
Corporate taxes | | 181 | | 232 | | 28.2 | | 2 674 | | 2 652 | | - 0.8 | |
Consumption taxes | | 1 029 | | 934 | | - 9.2 | | 11 525 | | 11 623 | | 0.9 | |
Other sources | | 136 | | 187 | | 37.5 | | 2 226 | | 2 061 | | - 7.4 | |
Total own-source revenue excluding government enterprises | | 3 420 | | 3 326 | | - 2.7 | | 36 542 | | 35 842 | | - 1.9 | |
Revenue from government enterprises | | 756 | | 584 | | - 22.8 | | 4 012 | | 3 684 | | - 8.2 | |
Total own-source revenue | | 4 176 | | 3 910 | | - 6.4 | | 40 554 | | 39 526 | | - 2.5 | |
Federal transfers | | | | | | | | | | | | | |
Equalization | | 669 | | 696 | | 4.0 | | 6 690 | | 6 962 | | 4.1 | |
Health transfers | | 310 | | 348 | | 12.3 | | 3 146 | | 3 465 | | 10.1 | |
Transfers for post-secondary education and other social programs | | 104 | | 120 | | 15.4 | | 1 072 | | 1 193 | | 11.3 | |
Other programs | | 83 | | 112 | | 34.9 | | 730 | | 1 024 | | 40.3 | |
Total federal transfers | | 1 166 | | 1 276 | | 9.4 | | 11 638 | | 12 644 | | 8.6 | |
BUDGETARY REVENUE | | 5 342 | | 5 186 | | - 2.9 | | 52 192 | | 52 170 | | - 0.0 | |
CONSOLIDATED REVENUE FUND EXPENDITURE | |
(millions of dollars) | | | | (Unaudited data) | |
| | | | | |
| | January | | April to January | |
| | | | | | Change | | | | | | Change | |
Expenditures by mission | | 2009 | | 2010 | | % | | 2008-2009 | | 2009-2010 | | % | |
Program spending | | | | | | | | | | | | | |
Health and Social Services | | 2 242 | | 2 069 | | - 7.7 | | 21 199 | | 22 625 | | 6.7 | |
Education and Culture | | 1 061 | | 1 127 | | 6.2 | | 12 770 | | 12 900 | | 1.0 | |
Economy and Environment | | 485 | | 469 | | - 3.3 | | 5 665 | | 6 084 | | 7.4 | |
Support for Individuals and Families | | 463 | | 473 | | 2.2 | | 4 524 | | 4 719 | | 4.3 | |
Administration and Justice | | 382 | | 408 | | 6.8 | | 3 890 | | 4 017 | | 3.3 | |
Total program spending | | 4 633 | | 4 546 | | - 1.9 | | 48 048 | | 50 345 | | 4.8 | |
Debt service | | 524 | | 506 | | - 3.4 | | 5 544 | | 5 047 | | - 9.0 | |
BUDGETARY EXPENDITURE | | 5 157 | | 5 052 | | - 2.0 | | 53 592 | | 55 392 | | 3.4 | |
For information on this monthly report, contact Luc Monty at 418 691-2225.
The report is also available on the ministère des Finances du Québec website: www.finances.gouv.qc.ca.
4
