Province Of Manitoba 18-K/A Annual report (foreign governments) (amended)

Exhibit 99.1

Province of Manitoba
Opportunity and Stability
Moving Forward on Manitobans’ Priorities

2008/09 Quarterly Financial Report
April to September 2008


CONTENTS

Introduction
Second Quarter Financial Results
Economic Performance and Outlook

INTRODUCTION

Budget 2008 provided a financial overview of the Government Reporting Entity (GRE), which is comprised of core government and other reporting entities. The core government component of the GRE represents the operations, programs and services delivered by government departments. Other reporting entities include Crown organizations, government business entities and public sector organizations such as regional health authorities, school divisions, universities and colleges that are directly or indirectly controlled by the Government, as prescribed by the Public Sector Accounting Board (PSAB).

The financial information in the quarterly financial report is being presented in the same format as the budget. This will allow for a smooth transition of quarterly financial reporting to a summary basis and, as recommended by the Office of the Auditor General, to be consistent with Generally Accepted Accounting Principles (GAAP). This transition is expected to be complete by the end of 2009/10.

The second quarter financial report continues to move forward on reporting financial results for the GRE. It includes financial results of core government for the six months ending September 30, 2008 as well as a financial forecast for the GRE for the current year. It also continues with the inclusion of an economic update.

Beginning with the third quarter, the report will contain the financial results of the organizations within the GRE for the nine months ending December 31, 2008 as well as an updated year-end projection and an updated economic performance and outlook.

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PROVINCE OF MANITOBA APRIL TO SEPTEMBER 2008

SUMMARY NET INCOME

Government Reporting Entity (GRE)

The Mid-Year Forecast for fiscal year 2008/09 projects Summary Net Income for the GRE at $350 million, an improvement of $254 million over the $96 million projected in Budget 2008. This forecast may change as a result of possible federal/provincial efforts to support the economy. An update will be provided in the third quarter report.

The $594 million improvement in revenues is comprised of a $345 million increase from other reporting entities and a $249 million increase in core government projections. The increase in other reporting entities is primarily due to higher net results from Manitoba Hydro and Manitoba Public Insurance. The increase in core government revenue reflects higher than anticipated Individual and Corporation Income Tax — $197 million, a $39 million increase in the Canada Health and Social Transfers based on revised projections from Canada, $15 million more in retail sales taxes and $16 million from water power rentals. Partially offsetting the projected increases are decreases of $48 million in Mining Tax and potentially $25 million as a result of timing of infrastructure renewal agreements.

Expenditures are projected to be $340 million higher than budget. This forecast reflects continuing cost pressures in core government operations, primarily in Health and Healthy Living of $90 million, primarily for nurses’ and doctors’ wage agreements, $49 million in Family Services and Housing for programming related to child protection and housing initiatives, $41 million in Agriculture, Food and Rural Initiatives, primarily for agricultural income stabilization programs, $27 million in Justice for operation of correctional institutions and $15 million for forest fire suppression costs in Emergency Expenditures.

Efforts to manage discretionary expenditures in the second half of the fiscal year to ease the pressures have been implemented in core government.

Projection of Summary Net Income
For the Fiscal Year Ending March 31, 2009

	2008/09 Mid-Year Forecast								2008/09 Budget
				Consolidation									Consolidation
	Core			Impacts and Other						Core			Impacts and Other					Summary
(Millions of Dollars)	Government			Reporting Entities			Summary			Government			Reporting Entities			Summary		Variance
Revenue		10,100			2,817			12,917			9,851			2,472			12,323		594
Expenditure		10,048			2,519			12,567			9,799			2,428			12,227		340
Net Result for the Year		52			298			350			52			44			96		254
Transfer to Debt Retirement Account		(110	)		110			—			(110	)		110			—		—
Transfer from/(to) Fiscal Stabilization Account		60			(60	)		—			60			(60	)		—		—
Net Income		2			348			350			2			94			96		254

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PROVINCE OF MANITOBA APRIL TO SEPTEMBER 2008

Infrastructure and Capital Asset Renewal

The province is continuing its commitment to invest over $1.0 billion in infrastructure in 2008/09. Current forecasts include investments for updating Manitoba’s highway system and wastewater treatment plants, expanding health facilities across the province and modernizing schools and post-secondary institutions.

Investing in tangible capital assets is necessary for the government to continue to provide services into the future. Budget 2008 indicated that renewal and expansion of these assets continues to be a priority for government but that the renewal will be costly as it is estimated that the insured or replacement value of these investments is more than $31 billion.

As borrowings may be used to finance capital related projects, the investment in the new tangible capital assets may increase net debt from time to time. As tangible capital assets such as buildings, equipment, roads and dams are essential for the economy and for delivering government services, it is important to measure change in net debt against the growth in the economy. The government is committed to continuing to reduce the net debt to GDP ratio over time.

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PROVINCE OF MANITOBA APRIL TO SEPTEMBER 2008

CORE GOVERNMENT — Second Quarter Financial Results

Revenue and Expenditure

The second quarter net result of expenditure exceeding revenue was $149 million better than the projection of $211 million. Second quarter revenue was $50 million higher than projected and second quarter expenditure was $99 million lower than estimated. Other Taxes are $38 million higher, primarily as a result of higher than anticipated Corporation Capital Tax — $31 million and Retail Sales Tax — $10 million. As well, Fees and Other Revenues are $23 million higher than forecasted primarily as a result of Petroleum Royalties — $5 million and Water Power Rentals — $4 million. Other changes were the result of timing differences in the receipt of revenues. Expenditure variances were primarily the result of the timing.

Significant changes from budget are identified below.

Core Government Operating Statement
UNAUDITED

	Year-to-Date to September 30												Full Year
	2008/09									2007/08			2008/09
($000s)	Actual			Estimated			Variance			Actual			Budget*
Revenue
Income Taxes		1,290,794			1,293,132			(2,338	)		1,219,521			2,611,300
Other Taxes		1,239,457			1,201,887			37,570			1,152,207			2,666,200
Fees and Other Revenue		227,469			204,864			22,605			201,873			433,501
Federal Transfers		1,750,774			1,762,039			(11,265	)		1,649,129			3,612,039
Net Income of Government Business Enterprises		226,600			223,100			3,500			217,200			528,500
Total Revenue		4,735,094			4,685,023			50,071			4,439,929			9,851,540
Expenditure
Health and Healthy Living		2,043,752			2,009,226			34,526			1,894,166			4,170,022
Education		1,034,934			1,043,153			(8,219	)		955,631			1,986,320
Family Services and Housing		575,200			573,841			1,359			521,343			1,199,262
Community, Economic and Resource Development		624,304			662,259			(37,955	)		582,840			1,459,764
Justice and Other Expenditures		385,549			405,634			(20,085	)		359,905			786,177
Year-end Lapse		—			—			—			—			(65,000	)
Debt Servicing Costs		133,124			202,014			(68,890	)		136,518			262,500
Total Expenditure		4,796,863			4,896,127			(99,264	)		4,450,402			9,799,045
Net Result		(61,769	)		(211,104	)		149,335			(10,473	)		52,495
Transfer to Debt Retirement Account		—			—			—			—			(110,495	)
Transfer from Fiscal Stabilization Account		—			—			—			—			60,000
Net Income (Loss) at September 30th		(61,769	)		(211,104	)		149,335			(10,473	)		2,000

* 2008/09 Budget figures are adjusted to include Enabling Appropriations

Revenue and expenditure details are provided in Appendix I and II on pages 8 and 9.

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PROVINCE OF MANITOBA APRIL TO SEPTEMBER 2008

CAPITAL INVESTMENT

Core government expenditures for general and infrastructure assets in the second quarter were $192 million, $68 million less than estimated, caused primarily by unfavorable weather conditions resulting in construction delays for the Manitoba Floodway Expansion and highway related activities. While the delays impact the cash flow in the current year and result in a projected expenditure of $541 million, $39 million lower than budgeted, affected projects will be completed as soon as conditions allow.

Core Government capital investment details are provided in Appendix III on page 10.

SPECIAL ACCOUNTS

Fiscal Stabilization

The opening balance of the Fiscal Stabilization account for 2008/09 was $818 million. Projected draws for funds advanced by the Government of Canada, including $47 million for wait-times reduction initiatives and other health-related programming and $13 million for requirements related to ecoTrust funds remain unchanged from budget.

Debt Retirement

The forecast of the Debt Retirement Account remains unchanged from budget. The 2008 Budget provided for a $110 million contribution to debt retirement. An allocation committee will determine the share of those funds directed to pensions or general purpose debt. In the 2008 Budget, the allocation was projected to be $85 million to the pension liability and $25 million for general purpose dept.

Pension Assets

In addition to the contribution determined by an allocation committee, the balance of the pension assets will increase for 2008/09 as a result of the government’s commitment to commence funding of the province’s unfunded liability for the Civil Service Superannuation Fund.

PROVINCIAL BORROWINGS, GUARANTEES AND OBLIGATIONS

The original estimate of borrowing requirements identified in the 2008 Budget was $2.8 billion including refinancing of maturing debt, the funding of the Civil Service Superannuation Plan (CSSP), funding for Manitoba Hydro, capital investments, Health’s capital programs and new self sustaining requirements. This has been revised to $2.9 billion primarily to reflect issues being called prior to maturity.

For the period April 1, 2008 to September 30, 2008, $36 million was raised through the issue of Manitoba Hydro Savings Bonds and $1.8 billion was raised in the public market.

The total outstanding borrowings, guarantees and obligations reflect the province’s gross borrowing obligations, but it does not take into consideration liquid assets available to pay down those obligations. While the total of outstanding provincial borrowings fluctuates during the fiscal year as a result of the timing of borrowing activities of the province, the year end forecast differs only slightly from that stated in the budget as shown in the table on the following page.

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PROVINCE OF MANITOBA APRIL TO SEPTEMBER 2008

Provincial Borrowings, Guarantees and Obligations

	2008/09 Forecast					March 31, 2008
	$ millions			$ Per Capita*		$ millions			$ Per Capita*
Provincial Borrowings, Guarantees and Obligations
General Government Programs		6,349			5,256		6,531			5,459
Manitoba Hydro		7,193			5,954		7,488			6,259
Other Crown Organizations		1,312			1,086		1,269			1,061
Health Facilities		963			797		833			696
Federal Government1		78			65		92			77
Capital Investments		1,404			1,162		1,084			906
Subtotal		17,299			14,320		17,297			14,459
General Government Programs — Pensions2		2,000			1,656		1,500			1,254
Subtotal3		19,299			15,976		18,797			15,713
Other Obligations
Pension Liability		4,660					4,451
Pension Asset Fund		(2,911	)				(2,242	)
Net Pension Liability		1,749					2,209
Debt incurred for and repayable by the Manitoba Hydro Electric Board and Manitoba Lotteries Corporation		(7,146	)				(7,322	)
Education and Health Debt held by Government Enterprises		389					416
Other Debt of Crown Organizations		441					508
Subtotal		(4,567	)				(4,189	)
Total Provincial Borrowings, Guarantees and Obligations		14,732					14,608
Adjustments to arrive at Summary Net Debt
Guarantees		(367	)				(352	)
Net Financial Assets 4		(3,729	)				(4,068	)
Summary Net Debt		10,636			8,805		10,188			8,516
Summary Net Debt as a percentage of GDP		21.7	% 4				21.1	%

1.	Amounts owed relating to federal accounting errors in prior years. See Note 10, page 92 of the 2007/08 public accounts for additional information.
2.	In 2007/08, the Government allocated $1.5 billion to the Teachers’ Retirement Allowances Fund (TRAF) increasing overall funding of the outstanding TRAF pension liability to 75%. In 2008/09, the Government will allocate $0.5 billion to the Civil Service Superannuation Plan.
3.	Provincial Borrowings and Guarantees are payable in Canadian and U.S. dollars. As at September 30, 2008 total provincial borrowings and guarantees were payable 88% in Canadian dollars and 12% in U.S. dollars. Of this total, General Government Programs borrowing and Other Crown Organizations borrowings was 100% payable in Canadian dollars. Manitoba Hydro borrowings were payable 64% in Canadian dollars (64% at March 31, 2008) and 36% in U.S. dollars (36% at March 31, 2008) which is fully hedged by U.S. dollar revenue.
4.	Net financial assets and Summary Net Debt as a percentage of GDP are presented as budgeted and have not been adjusted to reflect the impact of changes in other comprehensive income (OCI). Changes in OCI are based upon measurements at specific points in time and will be recognized when known. Given current economic conditions OCI adjustments are not expected until year-end.
*	The 2008/09 Forecast Per Capita data is based upon population figures at July 1, 2008, the March 31, 2008 Per Capita data is based upon population figures at April 1, 2008 as reported by Statistics Canada.

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PROVINCE OF MANITOBA APRIL TO SEPTEMBER 2008

ECONOMIC PERFORMANCE AND OUTLOOK
(Manitoba Economic Highlights — as of December 17, 2008)

Economic growth in Manitoba is expected to be weaker in 2008 relative to the 3.3% increase posted in 2007. Manitoba Finance’s most recent survey of private economic forecasters, completed December 17, shows real Gross Domestic Product (GDP) in Manitoba will grow 2.1% in 2008, above the projected national increase of 0.7% and below the 2.7% growth projected at the time of the 2008 Manitoba Budget. Manitoba’s economy also grew more strongly than Canada’s in 2006 and 2007.

For 2009, the survey estimates Manitoba’s real GDP growth will be 1.4%, ahead of the projected national increase of 0.3%.

Through the first eleven months of 2008, Manitoba’s employment has increased by 10,300 jobs, up 1.7% relative to the same period in 2007 and in line with the national increase. Manitoba’s full-time employment increased 2.3% while part-time employment declined by 0.5%. Over this same period, Manitoba’s unemployment rate averaged 4.1%, down from the 2007 annual unemployment rate of 4.4% and below the national rate of 6.1%. Manitoba’s unemployment rate this year is the lowest in over 30 years.

Through the first nine months of 2008, Manitoba’s retail sales increased 8.6% relative to the same period in 2007. Manitoba’s increase is second-best among provinces and well above the national increase of 4.7%. This follows a relatively strong performance last year, as retail sales rose 8.8% in 2007.

Manitoba housing starts in the first nine months of 2008 declined 4.6% relative to the same period in 2007. Single family units rose 0.8% while multiple units declined 14.4%. Overall housing starts in Canada have also declined this year, dropping 5.3% relative to the same period in 2007. In 2007, Manitoba housing starts were up 14.1% to 5,738, the highest level in 20 years.

In the first ten months of 2008, Manitoba manufacturing sales increased by 1.9% to $13.9 billion. Canadian sales increased 0.8%. Manufacturing is Manitoba’s largest industry, accounting for approximately 12% of GDP.

Manitoba’s foreign merchandise exports through October of 2008 increased 4.8%. Exports to the United States increased by 6.8% while exports to non-US markets were unchanged. Canada’s exports over the same period increased by 9.5%.

Manitoba farm cash receipts through the nine months of 2008 increased by 12.0%, just below the national increase of 12.5%. Receipts from crops are up 31.1%. Livestock receipts are down 8.3%, largely due to weaker receipts for hogs. In 2007, Manitoba farm cash receipts rose 17.0%.

In the first ten months of 2008, the Manitoba Consumer Price Index rose 2.2%, below the national increase of 2.5%. Energy and shelter were the major contributors to the increase. Manitoba’s consumer inflation has been relatively stable over the last several years, increasing by 2.0% in both 2006 and 2007.

Manitoba’s population reached 1,208,000 on July 1, 2008. This is an annual increase of 14,445 persons, which is the largest growth since 1983. Population grew 1.2%, from July 1, 2007. Canada’s increase over the same period was also 1.2%. Improvements in both interprovincial and international migration were largely responsible for the strong performance over the past year.

For updates and more details please see the Manitoba Economic Highlights at http://www.gov.mb.ca/finance/pdf/highlights.pdf

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PROVINCE OF MANITOBA APRIL TO SEPTEMBER 2008

2008/09 Core Government Revenue by Source
UNAUDITED	Appendix I

	Year-to-Date to September 30									Full Year
	2008/09							Actual		2008/09							Actual
($000s)	Actual		Budget		Variance			2007/08		Forecast		Budget		Variance			2007/08
Income taxes
Individual Income Tax		1,135,894		1,135,844		50			1,063,463		2,416,800		2,312,100		104,700			2,284,669
Corporation Income Tax		154,900		157,288		(2,388	)		156,058		391,200		299,200		92,000			366,818
Subtotal: Income Taxes		1,290,794		1,293,132		(2,338	)		1,219,521		2,808,000		2,611,300		196,700			2,651,487
Other Taxes
Corporation Capital Tax		109,533		78,511		31,023			87,112		163,200		123,200		40,000			165,779
Gasoline Tax		57,228		60,143		(2,914	)		66,237		130,000		137,000		(7,000	)		152,472
Insurance Corporations Tax		32,221		32,335		(114	)		30,579		63,500		63,500		—			65,233
Land Transfer Tax		30,059		27,630		2,429			26,454		46,059		43,600		2,459			44,731
Levy for Health and Education		143,351		139,809		3,543			136,381		349,400		344,400		5,000			341,383
Mining Tax		83,170		93,896		(10,726	)		72,087		80,000		128,000		(48,000	)		99,637
Motive Fuel Tax		38,504		41,400		(2,896	)		39,056		90,100		90,100		—			95,721
Retail Sales Tax		626,892		616,549		10,343			576,195		1,484,400		1,469,400		15,000			1,391,072
Tax Administration and Miscellaneous Taxes		27,951		27,701		250			28,097		79,900		79,900		—			81,792
Tobacco Tax		82,444		76,716		5,728			83,492		180,000		170,000		10,000			190,627
Other Taxes		8,104		7,199		905			6,517		16,452		17,100		(648	)		13,671
Subtotal: Other Taxes		1,239,457		1,201,887		37,570			1,152,207		2,683,011		2,666,200		16,811			2,642,118
																��
Fees and Other Revenue
Fines and Costs and Other Legal		24,216		22,001		2,215			21,190		45,036		44,091		945			41,911
Minerals and Petroleum		13,325		7,798		5,527			6,502		16,685		9,386		7,299			13,000
Automobile and Motor Carrier Licences and Fees		57,616		54,482		3,134			50,908		106,092		106,092		—			103,134
Parks: Forestry and Other Conservation		15,664		11,399		4,265			13,106		31,117		34,083		(2,966	)		32,168
Water Power Rentals		58,206		53,843		4,363			58,439		121,000		105,000		16,000			117,323
Service Fees and Other Miscellaneous Charges		47,920		44,844		3,076			42,905		118,706		113,854		4,852			134,645
Revenue Sharing from SOAs		10,523		10,498		25			8,823		20,994		20,995		(1	)		21,395
Subtotal: Fees and Other Revenue		227,469		204,864		22,605			201,873		459,630		433,501		26,129			463,576
Federal Transfers
Equalization		1,031,697		1,031,697		—			892,490		2,063,400		2,063,400		—			1,825,796
Canada Health Transfer (CHT)		422,892		422,892		—			403,514		875,100		845,800		29,300			816,684
Canada Social Transfer (CST)		189,019		189,019		—			170,470		387,400		378,000		9,400			347,463
Infrastructure Renewal		—		—		—			—		25,000		50,000		(25,000	)		45,805
Manitoba Floodway Expansion		10,377		18,500		(8,123	)		13,897		63,051		75,233		(12,182	)		73,887
Shared Cost and Other Transfers		96,789		99,931		(3,142	)		168,758		206,572		199,606		6,966			273,319
Subtotal: Federal Transfers		1,750,774		1,762,039		(11,265	)		1,649,129		3,620,523		3,612,039		8,484			3,382,954
Net Income of Government
Business Enterprises (GBEs)
Manitoba Liquor Control Commission		76,000		72,500		3,500			84,200		227,300		227,300		—			207,944
Manitoba Lotteries Corporation		150,600		150,600		—			133,000		301,200		301,200		—			282,719
Subtotal: Net Income of GBEs		226,600		223,100		3,500			217,200		528,500		528,500		—			490,663
Sinking Funds and Other Earnings		—		—		—			—		—		—		—			—
Total Revenue		4,735,094		4,685,023		50,071			4,439,929		10,099,664		9,851,540		248,124			9,630,798

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PROVINCE OF MANITOBA APRIL TO SEPTEMBER 2008

2008/09 Core Government Expenditure by Sector/Department
UNAUDITED	Appendix II

	Year-to-Date to September 30												Full Year
	2008/09									Actual			2008/09									Actual
($000s)	Actual			Budget			Variance			2007/08			Forecast			Budget1			Variance			2007/08
Health and Healthy Living		2,043,752			2,009,226			34,526			1,894,166			4,259,540			4,170,022			89,518			3,932,214
Education
Advanced Education and Literacy		293,069			298,479			(5,410	)		264,128			578,707			577,181			1,526			560,263
Education, Citizenship and Youth		741,865			744,674			(2,809	)		691,503			1,405,797			1,409,139			(3,342	)		1,322,084
Total Education		1,034,934			1,043,153			(8,219	)		955,631			1,984,504			1,986,320			(1,816	)		1,882,347
Family Services and Housing		575,200			573,841			1,359			521,343			1,248,554			1,199,262			49,292			1,135,009
Community, Economic and Resource Development
Aboriginal and Northern Affairs		17,671			21,450			(3,779	)		16,280			41,066			41,366			(300	)		39,511
Agriculture, Food and Rural Initiatives		51,429			61,267			(9,838	)		39,711			262,752			221,695			41,057			243,638
Competitiveness, Training and Trade		49,500			48,303			1,197			40,056			126,488			125,908			580			110,696
Conservation		64,963			67,258			(2,295	)		64,490			123,906			124,683			(777	)		117,162
Infrastructure and Transportation		233,850			252,486			(18,636	)		230,710			555,001			547,194			7,807			502,615
Intergovernmental Affairs		148,815			149,109			(294	)		136,179			277,000			274,048			2,952			251,345
Science, Technology, Energy and Mines		44,202			46,388			(2,186	)		43,309			88,709			90,729			(2,020	)		89,961
Water Stewardship		13,874			15,998			(2,124	)		12,105			33,642			34,141			(499	)		28,705
Total Community, Economic and Resource Development		624,304			662,259			(37,955	)		582,840			1,508,564			1,459,764			48,800			1,383,633
Justice and Other Expenditures
Legislative Assembly		15,244			16,239			(995	)		21,142			35,330			35,064			265			40,093
Executive Council		1,752			1,790			(38	)		1,582			3,671			3,698			(27	)		3,316
Civil Service Commission		2,911			3,064			(153	)		2,551			6,285			6,292			(7	)		5,660
Culture, Heritage, Tourism and Sport		47,494			47,443			51			45,794			89,800			89,000			800			126,392
Employee Pensions and Other Costs		40,612			39,443			1,169			36,788			83,467			79,604			3,863			91,694
Finance		68,744			70,250			(1,506	)		71,368			102,206			103,757			(1,551	)		96,512
Healthy Child Manitoba		12,136			12,706			(570	)		11,400			27,176			27,180			(4	)		25,331
Justice		150,312			153,194			(2,882	)		135,400			378,966			352,210			26,756			335,592
Labour and Immigration		21,445			23,292			(1,847	)		17,016			56,352			51,793			4,559			44,491
Manitoba Seniors and Healthy Aging Secretariat		526			731			(205	)		441			1,732			1,765			(33	)		1,232
Enabling Appropriations		1,118			1,785			(667	)		804			9,387			9,437			(50	)		3,370
Other Appropriations		23,255			35,697			(12,442	)		15,619			39,583			26,377			13,206			34,475
Total Justice and Other Expenditures		385,549			405,634			(20,085	)		359,905			833,955			786,177			47,777			808,158
Less: Year-End Lapse2		—			—			—			—			(45,000	)		(65,000	)		20,000			—
Debt Servicing Costs		133,124			202,014			(68,890	)		136,518			257,500			262,500			(5,000	)		251,033
Total Expenditure		4,796,863			4,896,127			(99,264	)		4,450,402			10,047,617			9,799,045			248,571			9,392,394
Subtract: Total Expenditue Estimates(above) from Total Revenue Estimate (Appendix I)		4,735,094			4,685,023			50,071			4,439,929			10,099,664			9,851,540			248,124			9,630,798
Net Result for the Year		(61,769	)		(211,104	)		149,335			(10,473	)		52,047			52,495			(447	)		238,404
Transfer to Debt Retirement		—			��			—			—			(110,495	)		(110,495	)		—			(110,495	)
Transfer from / (to) Fiscal Stabilization		—			—			—			—			60,000			60,000			—			(127,928	)
Net Result for the Year		(61,769	)		(211,104	)		149,335			(10,473	)		1,552			2,000			(447	)		—

1.	Budget figures are adjusted to include Enabling Appropriations
2.	The Year-End Lapse includes the projected adjustment resulting from the implementation of expenditure management measures.

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PROVINCE OF MANITOBA APRIL TO SEPTEMBER 2008

Core Government Capital Investment
UNAUDITED	Appendix III

	Year-to-Date to September 30									Full Year
	2008/09							2007/08		2008/09							Actual
($000s)	Actual		Estimated		Variance			Actual		Forecast		Budget		Variance			2007/08
General Assets
Government Services Capital Projects		39,754		36,139		3,615			8,601		101,300		88,000		13,300			58,095
Transportation Equipment and Other Capital		1,227		6,740		(5,513	)		469		29,111		23,719		5,392			18,758
Information Technology Projects		1,940		3,749		(1,809	)		600		18,057		19,805		(1,748	)		15,170
Other Equipment and Buildings		64		882		(818	)		100		3,926		4,553		(627	)		1,492
		42,985		47,510		(4,525	)		9,770		152,394		136,077		16,317			93,515
Infrastructure Assets
Provincial Roads, Highways and Airport Infrastructure		101,860		143,935		(42,075	)		24,294		230,583		249,883		(19,300	)		231,868
Manitoba Floodway Expansion		44,580		59,650		(15,070	)		10,600		139,000		172,009		(33,009	)		155,992
Water Control Infrastructure		1,407		6,015		(4,608	)		44		8,900		11,400		(2,500	)		7,443
Parks, Cottage and Camping Projects		672		2,348		(1,676	)		845		9,636		9,711		(75	)		9,516
		148,519		211,948		(63,429	)		35,783		388,119		443,003		(54,884	)		404,819
Total Capital Investment		191,504		259,458		(67,954	)		45,553		540,513		579,080		(38,567	)		498,334

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