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

	Province of Manitoba Steady. Balanced. Building Manitoba’s Future 2009/10 Quarterly Financial Report April to December 2009 CONTENTS Introduction Third Quarter Financial Results Economic Performance and Outlook

INTRODUCTION

Budget 2009 provided the financial overview of the Government Reporting Entity (GRE), which includes core government and Crown organizations, government business entities and public sector organizations such as regional health authorities, school divisions, universities and colleges. Manitoba’s summary budget aligns with the accounting standards set by the Public Sector Accounting Board and fully reflects Generally Accepted Accounting Principles (GAAP). A summary budget presents a more complete picture of how the provincial government and its other reporting entities operate as a whole and what the total cost is of providing services and programs to people in Manitoba.

The financial information in this quarterly report is presented in the same format as the budget. This allowed 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 GAAP.

The third quarter financial report presents information on the GRE for the nine months ending December 31, 2009. The report also contains an updated financial forecast for the GRE for the current fiscal year and an economic performance and outlook.

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PROVINCE OF MANITOBA APRIL TO DECEMBER 2009

SUMMARY NET INCOME

Revenues for the GRE are projected to be $134 million lower than budget. Core government revenue is projected to decrease $92 million from budget primarily as a result of an $88 million decrease in corporate income tax. In addition, federal transfers are $71 million lower, primarily due to timing of infrastructure projects. Partially offsetting these variances are increases in personal income tax — $53 million, corporation capital tax — $15 million and tobacco tax — $13 million.

Projections from other entities in the GRE result in a net decrease of $89 million from budget. The decrease primarily reflects the $136 million decrease from budget in Manitoba Hydro profits, partially offset by improved results from other entities such as MPI.

Core government expenditure forecasts continue to reflect an unanticipated $146 million related to planning and mitigation for the H1N1 flu — $90 million and for 2009 spring flooding — $56 million.

Other core government pressures to maintain vital services include healthcare — $99 million, child welfare — $35 million; services for persons with disabilities — $28 million; housing initiatives — $20 million; public safety and corrections — $17 million; and employment and income assistance — $18 million. The province is also accelerating the transfer of $23 million to the City of Winnipeg primarily for infrastructure in response to current economic conditions.

The current forecast of summary net income for 2009/10 has shown some improvement from the second quarter and is now projected to be a loss of $555 million.

Projection of Summary Net Income

For the Fiscal Year Ending March 31, 2010
UNAUDITED

	2009/10 Third Quarter Forecast									2009/10 Budget
				Consolidation
				Impacts and									Consolidation
	Core			Other Reporting						Core			Impacts and Other					Summary
(Millions of Dollars)	Government			Entities			Summary			Government			Reporting Entities			Summary		Variance
Revenue		10,041			2,555			12,596			10,134			2,596			12,730		(134	)
Expenditure		10,643			2,508			13,151			10,222			2,460			12,682		469
Net Result for the Year		(602	)		47			(555	)		(88	)		136			48		(603	)
Transfer to Debt Retirement Account		(20	)		20			—			(20	)		20			—		—
Transfer from/(to) Fiscal Stabilization Account		110			(110	)		—			110			(110	)		—		—
Net Income/(Loss)		(512	)		(43	)		(555	)		2			46			48		(603	)

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PROVINCE OF MANITOBA APRIL TO DECEMBER 2009

Compliance with Balanced Budget Legislation

The Balanced Budget, Fiscal Management and Taxpayer Accountability Act requires that the government’s third quarter financial report include a statement of the projected balance as at the end of the fiscal year.

For the purposes of the Act, balance is the average of the net results for the fiscal years within the four-year period ending at that time. The results of applying this formula for the year ending March 31, 2010, is a positive balance, therefore the government will be in compliance with the Act.

As per Section 3(3) of the Act, the balance may be adjusted by excluding a revenue shortfall or increase in expenses for the fiscal year that occurred because of an unanticipated natural or other disaster that affects the province or a region of the province in a manner that is of urgent public concern.

In accordance with the Act, the $90 million of one-time H1N1 related expenditures included in the current forecast will be excluded. This results in a projected balance for purposes of the Act at March 31, 2010 of $253 million.

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PROVINCE OF MANITOBA APRIL TO DECEMBER 2009

QUARTERLY FINANCIAL RESULTS

The unaudited net result of revenues exceeding expenditures for the first nine months of the fiscal year is $95 million better than estimated. Third quarter revenue was $83 million lower than projected, offset by expenditures being $178 million lower than estimated.

For Government Business Enterprises (GBEs) revenue is $12 million lower than estimated. Other entities report timing variances in federal transfers of $20 million as well as $17 million in fees, primarily from post secondary institutions.

Sinking funds and other earnings were $47 million lower than estimated with a related decrease in debt servicing.

Offsetting these decreases from actual are higher than projected other taxes including gas tax receipts as a result of increased consumption and better than estimated results for corporation capital and land transfer taxes and timing of receipts.

Expenditure variances are primarily the result of timing of payments.

Government Reporting Entity Operating Statement

UNAUDITED

	Year-to-Date to December 31
	2009/10
($000s)	Actual		Estimated		Variance
Revenue
Income Taxes		1,941,451		1,940,177		1,274
Other Taxes		2,672,796		2,661,677		11,119
Fees and Other Revenue		1,244,466		1,261,215		(16,749	)
Federal Transfers		2,937,992		2,958,095		(20,103	)
Net Income of Government Business Enterprises		428,164		439,887		(11,723	)
Sinking Funds and Other Earnings		157,608		204,809		(47,201	)
Total Revenue		9,382,477		9,465,860		(83,383	)
Expenditure
Health and Healthy Living		3,579,238		3,520,391		58,847
Education		2,231,108		2,311,640		(80,532	)
Family Services and Consumer Affairs		953,650		967,953		(14,303	)
Community, Economic and Resource Development		1,188,172		1,259,577		(71,405	)
Justice and Other Expenditures		659,517		666,570		(7,053	)
Debt Servicing Costs		551,214		614,907		(63,693	)
Total Expenditure		9,162,899		9,341,038		(178,139	)
Net Result		219,578		124,822		94,756

Core government revenue and expenditure details are provided in Appendix I and II on pages 10 and 11.

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PROVINCE OF MANITOBA APRIL TO DECEMBER 2009

Infrastructure and Capital Asset Renewal

Expenditures for infrastructure and capital asset renewal in 2009/10 are forecast to be $1.3 billion. Investing in tangible capital assets is key to providing vital services, as well as providing the infrastructure for economic and community development, into the future.

Current projections include investments for upgrading Manitoba’s roads and highways, wastewater treatment plants, expanding health facilities across the province, building and restoring social housing, modernizing our post-secondary institutions and new public schools as well as improvements and renewal of existing facilities. As outlined in Budget 2009, the plan to accelerate capital spending in the short term is being supported by federal economic stimulus funding.

As borrowings may be used to finance capital related projects, net debt may grow in absolute terms from time to time as needed investments in capital assets — like the Red River Floodway, highway infrastructure and economic stimulus investments — are made. It is therefore important to measure change in net debt against the growth of the economy. As a result of the decision to invest in infrastructure projects to create jobs and stimulate the economy, an increase in the net debt to GDP ratio was forecast in Budget 2009. For fiscal year 2009/10, summary net debt to GDP is currently forecast to be 24.4%, down from the second quarter projection.

At the end of the third quarter $438 million in core government capital investments have been made, with a projection of $672 million invested by fiscal year-end.

Core government capital investment details are provided in Appendix III on page 12.

SPECIAL ACCOUNTS

Fiscal Stabilization

The budgeted draw of $110 million includes funds advanced by the Government of Canada for health programming of $47 million and $13 million for requirements related to ecoTrust funds. The projected draw for 2009/10 remains as budgeted.

Debt Retirement

The 2009 Budget provided for a $20 million contribution to debt retirement. An allocation committee will determine the share of those funds directed to the pension liability or general purpose debt.

Pension Assets

Last year the Province changed the trust conditions of the funds held in the Pension Asset Fund to clarify that these funds are irrevocably restricted for pension purposes only. As a result of this restriction, these funds are classified as pension assets and will be accounted for and reported in keeping with GAAP for senior governments.

The fund balance is projected to increase $385 million in 2009/10, a $95 million improvement from budget, as a result of the allocation from the Debt Retirement Account, the government’s plan to continue addressing the unfunded liability for the Civil Service Superannuation Fund and net investment earnings.

Net investment earnings include the expected rate of return during the year and adjustments to market related value. Under GAAP, market fluctuations of pension assets are not recorded in the year in which they occur but are recognized over the employee average remaining service life (EARSL).

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PROVINCE OF MANITOBA APRIL TO DECEMBER 2009

PROVINCIAL BORROWINGS, GUARANTEES AND OBLIGATIONS

The original estimate of borrowing requirements identified in the 2009 Budget was $3.3 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 was revised to $3.5 billion at September 30, 2009 to reflect issues being called prior to maturity.

For the period April 1, 2009 to December 31, 2009, $98.2 million was raised through the issue of Builder Bonds and $2.55 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 for general government programs has been revised upwards from that stated in the budget, as shown in the table on the following page.

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PROVINCE OF MANITOBA APRIL TO DECEMBER 2009

Provincial Borrowings, Guarantees and Obligations

	2009/10 Forecast					March 31, 2009
Provincial Borrowings, Guarantees and Obligations	$ millions			$ Per Capita*		$ millions			$ Per Capita*
General Government Programs		6,805			5,569		6,321			5,198
Manitoba Hydro		8,384			6,861		8,234			6,771
Other Crown Organizations		1,451			1,187		1,164			957
Health Facilities		1,054			863		831			683
Federal Government1		69			56		88			72
Capital Investments		1,861			1,523		1,411			1,160
Subtotal		19,624			16,059		18,049			14,841
General Government Programs — Pensions2		2,180			1,784		1,850			1,521
Subtotal3		21,804			17,843		19,899			16,362
Other Obligations
Pension Liability		4,830					4,640
Pension Asset Fund		(3,029	)				(2,637	)
Net Pension Liability		1,801					2,003
Debt incurred for and repayable by the Manitoba Hydro Electric Board and Manitoba Lotteries Corporation		(8,154	)				(8,008	)
Education and Health Debt held by Government Enterprises		404					406
Other Debt of Crown Organizations		260					278
Subtotal		(5,689	)				(5,321	)
Total Provincial Borrowings, Guarantees and Obligations		16,115					14,578
Adjustments to arrive at Summary Net Debt
Guarantees		(402	)				(402	)
Net Financial Assets		(3,460	)				(2,678	)
Summary Net Debt4		12,253			9,993		11,498			9,455
Summary Net Debt as a percentage of GDP		24.4	%				22.4	%

Notes: Provincial Borrowings, Guarantees and Obligations
1.	Amounts owed relating to federal accounting errors in prior years. See Note 10, page 95 of the 2008/09 Public Accounts for additional information.
2.	In 2008/09, the Government allocated $350 million to the Civil Service Superannuation Plan, an additional $330 million to address pension obligations for the civil service will be allocated in 2009/10.
3.	Provincial Borrowings and Guarantees are payable in Canadian and U.S. dollars. As at December 31, 2009 total provincial borrowings and guarantees were payable 90% in Canadian dollars and 10% in U.S. dollars. Of this total, General Government Programs borrowings and Other Crown Organizations borrowings was 100% payable in Canadian dollars. Manitoba Hydro borrowings were payable 69% in Canadian dollars (64% at March 31, 2009) and 31% in U.S. dollars (36% at March 31, 2009) which is fully hedged by U.S. dollar revenue.
4.	Net financial assets and summary net debt as a percentage of GDP include the projected impact of changes in other comprehensive income (OCI). Changes in OCI are based upon market value measurements at year-end and reflect a change to the book value of investments held by government business enterprises and the value of the Canadian dollar against the US dollar on US debt held by Manitoba Hydro. The OCI forecast does not impact summary net income.
*	The 2009/10 Forecast Per Capita data is based upon population figures at October 1, 2009, and the March 31, 2009 Per Capita data is based upon population figures at April 1, 2009 as reported by Statistics Canada.

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PROVINCE OF MANITOBA APRIL TO DECEMBER 2009

MANITOBA ECONOMIC PERFORMANCE AND OUTLOOK

(As of March 1, 2010)

Manitoba’s economy is estimated to have contracted by 0.3% in 2009 according to Manitoba Finance’s survey of independent forecasters conducted on February 22. This is the strongest performance among provinces last year and considerably better than the national GDP decline of 2.6%. The 0.3% drop in Manitoba’s real GDP is below the 0.2% decline expected by forecasters at the time of the 2009 Budget.

Last year was the fourth consecutive year in which Manitoba’s economic growth surpassed Canada’s. Manitoba outperformed Canada’s economy in virtually all major economic indicators in 2009.

In late 2008, Canada’s economy followed the U.S. into recession, declining for three quarters beginning in the last quarter of 2008. Canada’s economy grew modestly in the third quarter of 2009 with a strong performance in the last quarter of the year. Most private sector forecasters project that Canada’s economy will continue to strengthen throughout 2010 as international financial and economic prospects continue to improve. The Manitoba Finance survey of economic forecasters projects that Manitoba’s real GDP will grow by 2.4% in 2010, just below the projected national increase of 2.6%.

Manitoba was one of three provinces to avoid a decline in employment in 2009 with a small increase of 200. Last year, Canada’s employment declined by 277,000, or 1.6%, the biggest decline since 1991. Manitoba lost part-time jobs but this was more than offset by an increase in full-time employment.

The provincial unemployment rate increased to 5.2% from 4.2% in 2008, while Canada’s rate rose to 8.3% from 6.1%. In January 2010, Manitoba’s employment increased to 612,400, reaching an all-time high and surpassing the previous record established in August 2009.

Manitobans’ average weekly earnings continue to increase, with 2.8% year-over-year growth last year, the fourth-strongest increase among provinces. Nationally, average earnings increased 1.6%.

Manitoba’s retail sales declined by 0.9% in 2009, much better than the national decline of 3.0%. Most of the weakness in retail sales occurred in the first half of the year, with stronger results posted in the last two quarters. In December 2009, Manitoba’s retail sales posted their best year-over-year performance since October, 2008. New car dealers and gasoline stations had the largest declines, the latter caused by lower overall gas prices last year.

Manitoba housing starts fell 25% last year compared to a 29% national decrease. The total value of Manitoba building permits issued declined 3.7% while the value of Canada’s building permits issued declined 13.4%.

The strong value of the Canadian dollar and continued weakness in the U.S. market reduced Manitoba’s manufacturing sales in 2009. Manitoba’s manufacturers’ sales declined 10.9%, third-best among provinces and well above Canada’s decline of 17.4%. Though the lower sales by Manitoba manufacturers were spread among several industries, Manitoba’s decline was most affected by weaker primary metal prices, as sales of processed primary metals — principally nickel and copper — declined by 32%.

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PROVINCE OF MANITOBA APRIL TO DECEMBER 2009

Lower nickel and copper exports are principal factors in the year-over-year decline in Manitoba’s merchandise exports last year. Exports declined 18%, the second-strongest performance among provinces and much better than Canada’s decline of 27%. Exports to the U.S. were down 19% while non-U.S. exports declined 16%. About 68% of Manitoba’s exports were destined for the U.S. in 2009 while China and Japan accounted for 6% and 5% respectively.

Capital investment in Manitoba increased 4.0% last year, second-strongest among provinces and ahead of the national decline of 11.4%. According to the Private and Public Investment Survey, capital investment will slip 1.1% in 2010, behind the projected national increase of 4.4%.

Manitoba 2009 farm cash receipts were unchanged through September relative to the same period in 2008. Receipts for Canada fell 4.2% over the same period, with receipts in six provinces declining. Manitoba receipts for crops and livestock both increased, though lower direct payments (insurance, other producer support programs, etc.) offset the gain.

The Consumer Price Index rose 0.6% in Manitoba and 0.3% in Canada in 2009. Manitoba’s consumer inflation has been relatively stable over the last several years.

Manitoba’s population reached 1,226,196 on October 1, 2009, an annual increase of 17,085 persons. This is the largest 12-month population gain in the current population data series first developed in 1971. Population grew 1.4% from the previous year, above Canada’s 1.2% increase. Improvements in both interprovincial and international migration were largely responsible for Manitoba’s population growth performance.

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 DECEMBER 2009

2009/10 Core Government Revenue by Source	Appendix I
UNAUDITED

	Year-to-Date to December 31									Full Year
	2009/10							2008/09		2009/10							Actual
($000s)	Actual		Estimated		Variance			Actual		Forecast		Budget		Variance			2008/09
Income taxes
Individual Income Tax		1,748,203		1,743,285		4,918			1,742,956		2,395,900		2,342,700		53,200			2,455,117
Corporation Income Tax		193,248		196,892		(3,644	)		226,714		258,200		346,600		(88,400	)		386,131
Subtotal: Income Taxes		1,941,451		1,940,177		1,274			1,969,670		2,654,100		2,689,300		(35,200	)		2,841,248
Other Taxes
Corporation Capital Tax		124,010		121,365		2,645			140,657		150,000		135,000		15,000			167,816
Gasoline Tax		105,967		102,263		3,704			88,345		135,000		130,000		5,000			136,063
Insurance Corporations Tax		51,560		51,571		(11	)		48,080		69,500		69,500		—			67,682
Land Transfer Tax		43,885		41,675		2,210			42,661		49,785		46,400		3,385			49,519
Levy for Health and Education		275,038		272,613		2,425			236,285		364,600		358,600		6,000			357,501
Mining Tax		—		—		—			83,170		5,000		10,000		(5,000	)		45,927
Motive Fuel Tax		67,704		67,110		594			62,664		90,500		90,500		—			92,716
Retail Sales Tax		1,227,045		1,228,262		(1,217	)		1,053,162		1,584,700		1,594,700		(10,000	)		1,569,334
Tobacco Tax		161,217		160,293		924			130,227		207,000		194,000		13,000			189,633
Other Taxes		7,373		6,956		417			12,037		9,649		8,876		773			14,382
Subtotal: Other Taxes		2,063,799		2,052,108		11,691			1,897,288		2,665,734		2,637,576		28,158			2,690,573
Fees and Other Revenue
Fines and Costs and Other Legal		32,798		31,576		1,222			34,571		42,303		51,848		(9,545	)		46,871
Minerals and Petroleum		13,814		12,746		1,068			17,540		15,893		9,594		6,299			19,970
Automobile and Motor Carrier Licences and Fees		93,996		94,328		(332	)		86,268		118,026		118,025		1			113,077
Parks: Forestry and Other Conservation		28,683		22,940		5,743			27,237		33,827		33,973		(146	)		29,654
Water Power Rentals		85,861		83,518		2,343			88,048		112,144		118,502		(6,358	)		115,660
Service Fees and Other Miscellaneous Charges		70,014		72,342		(2,328	)		71,738		124,167		121,718		2,449			134,197
Revenue Sharing from SOAs		17,910		15,746		2,164			15,346		24,380		23,880		500			20,995
Subtotal: Fees and Other Revenue		343,076		333,196		9,880			340,748		470,740		477,540		(6,800	)		480,424
Federal Transfers
Equalization		1,547,547		1,547,547		—			1,547,546		2,063,400		2,063,400		—			2,063,394
Canada Health Transfer (CHT)		674,541		677,511		(2,970	)		649,093		897,402		903,300		(5,898	)		875,409
Canada Social Transfer (CST)		293,790		293,573		217			289,599		392,184		392,300		(116	)		387,531
Health Funds		—		—		—			—		15,038		13,976		1,062			4,229
Infrastructure Renewal		—		—		—			—		68,259		135,150		(66,891	)		50,000
Manitoba Floodway Expansion		10,229		27,598		(17,369	)		24,083		38,000		77,967		(39,967	)		55,085
Shared Cost and Other Transfers		138,747		120,826		17,921			131,079		236,474		195,607		40,867			188,348
Subtotal: Federal Transfers		2,664,854		2,667,055		(2,201	)		2,641,400		3,710,757		3,781,700		(70,943	)		3,623,996
Net Income of Government
Business Enterprises (GBEs)
Manitoba Liquor Control Commission		141,900		142,600		(700	)		132,000		235,100		236,200		(1,100	)		229,164
Manitoba Lotteries Corporation		231,100		225,900		5,200			225,900		305,000		311,600		(6,600	)		304,780
Subtotal: Net Income of GBEs		373,000		368,500		4,500			357,900		540,100		547,800		(7,700	)		533,944
Total Revenue		7,386,180		7,361,036		25,144			7,207,006		10,041,431		10,133,916		(92,485	)		10,170,185

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PROVINCE OF MANITOBA	APRIL TO DECEMBER 2009
2009/10 Core Government Expenditure by Sector/Department	Appendix II
UNAUDITED

	Year-to-Date to December 31												Full Year
	2009/10										2008/09		2009/10									Actual
($000s)	Actual			Estimated				Variance			Actual		Forecast			Budget1			Variance			2008/09
Health and Healthy Living
Health		3,239,718			3,185,940				53,778			3,082,205		4,466,900			4,367,238			99,662			4,268,413
Healthy Living, Youth and Seniors		53,831			56,799				(2,968	)		50,436		72,975			73,788			(813	)		39,015
Total Health and Healthy Living		3,293,549			3,242,739				50,810			3,132,641		4,539,875			4,441,026			98,849			4,307,428
Education
Advanced Education and Literacy		458,015			469,821				(11,806	)		437,125		607,630			609,996			(2,366	)		577,475
Education		1,110,541			1,123,936				(13,395	)		1,056,412		1,467,763			1,467,194			569			1,392,701
Total Education		1,568,556			1,593,757				(25,201	)		1,493,537		2,075,393			2,077,190			(1,797	)		1,970,176
Family Services and Consumer Affairs		944,149			955,971				(11,822	)		865,391		1,308,134			1,220,699			87,435			1,178,145
Community, Economic and Resource Development
Aboriginal and Northern Affairs		26,685			30,600				(3,915	)		29,561		38,098			38,374			(276	)		41,446
Agriculture, Food and Rural Initiatives		124,319			129,957				(5,638	)		125,072		223,880			225,354			(1,474	)		225,726
Conservation		100,506			103,134				(2,628	)		98,279		136,222			133,731			2,491			134,503
Entrepreneurship, Training and Trade		85,049			93,678				(8,629	)		74,888		154,379			154,072			307			131,902
Housing and Community Development		45,717			45,383				334			39,744		81,294			61,692			19,602			61,504
Infrastructure and Transportation		401,532			428,600				(27,068	)		380,200		602,802			604,642			(1,840	)		530,384
Innovation, Energy and Mines		58,036			56,043				1,993			57,536		81,405			81,767			(362	)		79,008
Local Government		160,591			189,028				(28,437	)		176,376		251,377			230,111			21,266			330,437
Water Stewardship		23,531			24,046				(515	)		22,421		34,366			34,807			(441	)		32,342
Total Community, Economic and Resource Development		1,025,966			1,100,469				(74,503	)		1,004,077		1,603,823			1,564,550			39,273			1,567,252
Justice and Other Expenditures
Legislative Assembly		26,113			27,753				(1,640	)		23,556		38,515			37,398			1,117			33,071
Executive Council		2,947			3,011				(64	)		2,598		3,714			4,016			(302	)		3,586
Civil Service Commission		5,010			5,142				(132	)		4,512		6,612			6,688			(76	)		6,128
Culture, Heritage and Tourism		52,394			54,732				(2,338	)		49,567		69,607			68,415			1,192			77,703
Employee Pensions and Other Costs		(4,683	)		(3,294	)			(1,389	)		2,366		13,372			15,124			(1,752	)		54,356
Finance		73,855			75,476				(1,621	)		73,647		89,902			92,109			(2,207	)		96,033
Justice		275,557			279,164				(3,607	)		248,822		410,011			392,336			17,675			373,619
Labour and Immigration		37,121			39,648				(2,527	)		33,657		59,431			59,450			(19	)		54,374
Sport		8,882			8,884				(2	)		9,084		11,897			11,933			(36	)		12,161
Enabling Appropriations		1,840			2,641				(801	)		2,109		14,226			16,361			(2,135	)		3,392
Other Appropriations		69,096			37,365				31,731			26,781		175,235			29,471			145,764			42,900
Total Justice and Other Expenditures		548,132			530,522				17,610			476,699		892,522			733,301			159,221			757,323
Less: Year-End Lapse		—			—				—			—		(16,250	)		(65,000	)		48,750			—
Debt Servicing Costs		190,226			201,420				(11,194	)		208,567		240,000			250,150			(10,150	)		233,001
Total Expenditure		7,570,578			7,624,878				(54,300	)		7,180,912		10,643,497			10,221,916			421,581			10,013,325
Subtract: Total Expenditue Estimates(above) from Total Revenue Estimate (Appendix I)		7,386,180			7,361,036		��		25,144			7,207,006		10,041,431			10,133,916			(92,485	)		10,170,185
Net Result for the Year (before transfers)		(184,398	)		(263,842	)			79,444			26,094		(602,066	)		(88,000	)		(514,066	)		156,860
Transfer to Debt Retirement		—			—				—			—		(20,000	)		(20,000	)		—			(110,495	)
Transfer from / (to) Fiscal Stabilization		—			—				—			—		110,000			110,000			—			(46,365	)
Net Result for the Year		(184,398	)		(263,842	)			79,444			26,094		(512,066	)		2,000			(514,066	)		—

1. Budget figures are adjusted to include Enabling Appropriations

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PROVINCE OF MANITOBA	APRIL TO DECEMBER 2009
2009/10 Core Government Capital Investment	Appendix III
UNAUDITED

	Year-to-Date to December 31									Full Year
	2009/10							2008/09		2009/10							Actual
($000s)	Actual		Estimated		Variance			Actual		Forecast		Budget		Variance			2008/09
General Assets
Government Services Capital Projects		40,456		45,279		(4,823	)		56,564		108,956		125,000		(16,044	)		86,979
Transportation Equipment and Aircraft		9,629		12,833		(3,204	)		4,011		23,172		32,037		(8,865	)		16,067
Information Technology Projects		5,839		10,696		(4,857	)		4,531		22,858		24,930		(2,072	)		12,579
Other Equipment and Buildings		778		1,646		(868	)		688		4,599		4,847		(248	)		3,736
		56,702		70,454		(13,752	)		65,794		159,585		186,814		(27,229	)		119,361
Infrastructure Assets
Provincial Roads, Highways and Airport Infrastructure		313,496		321,469		(7,973	)		158,208		386,620		366,725		19,895			212,414
Manitoba Floodway Expansion		51,903		71,904		(20,001	)		74,577		100,000		172,846		(72,846	)		123,764
Water Control Infrastructure		6,998		7,460		(462	)		4,054		10,600		10,600		—			7,207
Parks, Cottage and Camping Projects		8,714		10,903		(2,189	)		3,080		15,318		16,757		(1,439	)		7,138
		381,111		411,736		(30,625	)		239,919		512,538		566,928		(54,390	)		350,523
Total Capital Investment		437,813		482,190		(44,377	)		305,713		672,123		753,742		(81,619	)		469,884

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