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

Exhibit 99.1

Province of Manitoba

2010/11 Quarterly Financial Report
April to December 2010

CONTENTS

Introduction
Quarterly Financial Results
Economic Performance and Outlook

INTRODUCTION

Budget 2010 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 the other related 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 financial report is presented in the same format as the budget. The third quarter financial report presents information on the GRE for the nine months ending December 31, 2010. 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 2010

GOVERNMENT REPORTING ENTITY (GRE)

Budget 2010 introduced a five-year plan to position the province for the global economic recovery and return the province to surplus.

For fiscal year 2010/11 the forecast for summary net income is a loss of $467 million. This is a $78 million improvement from the projection in the five-year plan.

The variance is the net impact of core government results being $47 million better than budget and the results from the Other Reporting Entities (ORE) improving $31 million from budget.

The projections from the ORE reflect an improvement in the net income of government business enterprises (GBEs) compared to budget, including the recent Public Utilities Board order to MPI to rebate approximately $320 million to vehicle owners. Other variances include post secondary institutions reflecting higher than budgeted results, while lower than anticipated net income from Manitoba Agricultural Services Corporation reflects unseasonable weather.

Core government revenue is forecast to be $278 million higher than budget primarily as a result of revised federal estimates for both individual income tax — $166 million and corporation income tax - $83 million. Other taxes are forecast to be higher than budget due to strength in mining, corporations and tobacco taxes, partially offset by a lower than anticipated increase in retail sales tax.

As noted in the second quarter report, emergency expenditures resulting from severe flooding in the Interlake and forest fire suppression in northern Manitoba have resulted in unbudgeted emergency expenditures in core government. In addition, planning and preparation activities for a potential 2011 spring flood have resulted in a revised projection of $117 million for emergency expenditures.

Other core government expenditure pressures continue in supports for families — $67 million; health care — $40 million; and public safety and corrections — $24 million.

Projection of Summary Net Income/(Loss)
For the Fiscal Year Ending March 31, 2011
UNAUDITED

	2010/11 Third Quarter Forecast									2010/11 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		10,496			2,634			13,130			10,218			2,502			12,720			410
Expenditure		10,997			2,600			13,597			10,755			2,510			13,265			332
Net Result for the Year		(501	)		34			(467	)		(537	)		(8	)		(545	)		78
Transfer from/(to) Fiscal Stabilization Account		49			(49	)		—			38			(38	)		—			—
Net Income/(Loss)		(452	)		(15	)		(467	)		(499	)		(46	)		(545	)		78

* Includes a year-end adjustment of $37 million

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PROVINCE OF MANITOBA APRIL TO DECEMBER 2010

QUARTERLY FINANCIAL RESULTS

The unaudited net result of the GRE for the first nine months of the fiscal year is $76 million, $13 million better than estimated. The variance is the net result of revenue being $17 million higher than anticipated and expenditure being $4 million higher than estimated.

The nine-month revenue variance is mainly due to income taxes being $53 million higher than estimated, offset by timing of other taxes and net income of GBEs.

Expenditure variances are primarily the result of timing of payments.

Government Reporting Entity Operating Statement
UNAUDITED

	Year-to-Date to December 31
	2010/11							2009/10
($000s)	Actual		Estimated		Variance			Actual
Revenue
Income Taxes		2,030,587		1,977,091		53,496			1,941,451
Other Taxes		2,735,786		2,753,367		(17,581	)		2,672,796
Fees and Other Revenue		1,278,500		1,234,225		44,275			1,244,466
Federal Transfers		2,990,230		3,032,789		(42,559	)		2,937,992
Net Income of Government
Business Enterprises		547,605		573,567		(25,962	)		428,164
Sinking Funds and Other Earnings		157,140		151,345		5,795			157,608
Total Revenue		9,739,848		9,722,384		17,464			9,382,477
Expenditure
Health and Healthy Living		3,727,133		3,679,636		47,497			3,579,238
Education		2,423,160		2,432,485		(9,325	)		2,231,108
Family Services and Consumer Affairs		998,209		1,004,794		(6,585	)		953,650
Community, Economic and Resource Development		1,334,177		1,344,994		(10,817	)		1,188,172
Justice and Other Expenditures		614,847		630,088		(15,241	)		660,005
Debt Servicing Costs		566,281		567,851		(1,570	)		551,214
Total Expenditure		9,663,807		9,659,848		3,959			9,163,387
Net Result		76,041		62,536		13,505			219,090

Core government revenue and expenditure details are provided in Appendix I and II on pages 9 and 10.

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PROVINCE OF MANITOBA APRIL TO DECEMBER 2010

Infrastructure and Capital Asset Renewal

Expenditures for infrastructure and capital asset renewal in 2010/11 are forecast to be $1.5 billion. The projects are supported by $137 million in federal infrastructure renewal funding.

Based on principles of sound financial management, Manitoba has been able to increase the assets of the province while maintaining a manageable level of debt. Budget 2010 provides the resources for upgrading Manitoba’s roads and highways, wastewater treatment plants, health facilities across the province, building and restoring much needed social housing and modernizing our schools and post-secondary institutions.

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 continue to invest in infrastructure projects to create jobs and stimulate the economy, an increase in the net debt to GDP ratio to 26.8% was projected in Budget 2010. For fiscal year 2010/11, summary net debt to GDP is currently forecast to be 24.7%.

At the end of the third quarter, $468 million in core government capital investments have been made, with a projected investment of $761 million by fiscal year-end.

Core government capital investment details are provided in Appendix III on page 11.

SPECIAL ACCOUNTS

Fiscal Stabilization

The forecast draw for 2010/11 is $49 million, $11 million higher than the budgeted draw of $38 million. The higher draw supports unbudgeted 2011 spring flood preparation costs. The forecast continues to include budgeted amounts advanced by the Government of Canada in previous years for health programming of $25 million and $8 million for requirements related to ecoTrust funds as well as $6 million for the interest expense associated with the core government operating shortfall.

Manitoba’s Five-Year Economic Plan includes using an estimated $600 million of the funds set aside in this Account to retire a portion of the debt and interest expense associated with the core government operating shortfalls during the economic recovery period. In 2010/11, $90 million has been withdrawn for debt repayment.

Debt Retirement

In 2010/11 the entire balance of $145 million in the account was utilized to repay general purpose debt as part of the five-year plan.

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PROVINCE OF MANITOBA APRIL TO DECEMBER 2010

Pension Assets

The trust conditions of the funds held in the Pension Asset Fund 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 in 2010/11 as a result of 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).

PROVINCIAL BORROWINGS, GUARANTEES AND OBLIGATIONS

Manitoba’s borrowing requirement identified in the 2010 Budget was $3.4 billion including refinancing of $1.3 billion and new cash requirements of $2.4 billion, offset by a repayment of $338 million. New cash requirements are required for general government purposes, capital investments by departments, Manitoba Hydro and for the funding of the unfunded pension liability for the Civil Service Superannuation Plan. Estimated repayments are primarily for general purpose borrowings.

For the period of April 1, 2010 to December 31, 2010, $114.7 million was raised through the issue of Builder Bonds and $2.5 billion was raised in the public market.

The total of outstanding provincial borrowings fluctuates during the fiscal year as a result of the timing of borrowing activities of the province. The forecast for the year end has been updated to reflect this as shown in the table on the following page.

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PROVINCE OF MANITOBA APRIL TO DECEMBER 2010

Provincial Borrowings, Guarantees and Obligations

	2010/11 Forecast					March 31, 2010
	$ millions			$ Per Capita*		$ millions			$ Per Capita*
Provincial Borrowings, Guarantees and Obligations1
General Government Programs		6,955			5,609		6,833			5,543
General Government Programs — Pensions2		2,355			1,899		2,175			1,764
Manitoba Hydro		8,361			6,743		7,730			6,271
Other Crown Organizations		1,643			1,325		1,478			1,199
Health Facilities		1,065			859		949			770
Government Enterprises and Other3		51			41		65			53
Capital Investments		2,546			2,053		1,846			1,498
Subtotal4		22,976			18,529		21,076			17,098
Other Obligations
Pension Liability		6,637					6,392
Pension Asset Fund		(4,859	)				(4,592	)
Net Pension Liability		1,778					1,800
Debt incurred for and repayable by the Manitoba Hydro Electric Board, net of sinking funds		(8,198	)				(7,479	)
Education and Health Debt held by Government Enterprises		466					443
Other Debt of Crown Organizations, net of sinking funds		255					255
Subtotal		(5,699	)				(4,981	)
Total Provincial Borrowings, Guarantees and Obligations		17,277					16,095
Adjustments to arrive at Summary Net Debt
Guarantees		(166	)				(255	)
Net Financial Assets		(3,867	)				(4,046	)
Summary Net Debt5		13,244			10,681		11,794			9,568
Summary Net Debt as a percentage of GDP		24.7	%				23.1	%

Notes: Provincial Borrowings, Guarantees and Obligations
1.	Borrowing, guarantees and obligations are net of sinking funds and guarantees reflect only balances for Manitoba Hydro Bonds and Manitoba Grow Bonds.
2.	In 2010/11, the Government plans to allocate an additional $180 million to address pension obligations for the civil service.
3.	Includes amounts owed relating to federal accounting errors in prior years. See Note 10, page 95 of the 2009/10 Public Accounts for additional information.
4.	Provincial Borrowings and Guarantees are payable in Canadian and U.S. dollars. As at December 31, 2010, total provincial borrowings and guarantees were payable 92% in Canadian dollars and 8% in U.S. dollars. Of this total, General Government Program borrowing and Other Crown organizations borrowings was 100% payable in Canadian dollars. Manitoba Hydro borrowings were payable 75% in Canadian dollars (72% at March 31, 2010) and 25% in U.S. dollars (28% at March 31, 2010).
5.	Net financial assets and summary net debt as a percentage of GDP include the projected impact of 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 GBEs 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.
*	Per capita is based upon population figures at October 1, 2010 for the 2010/11 Forecast, and at April 1, 2010 for March 31, 2010, as reported by Statistics Canada.

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PROVINCE OF MANITOBA APRIL TO DECEMBER 2010

ECONOMIC PERFORMANCE AND OUTLOOK

Manitoba’s economy expanded by 2.5% in 2010 according to the Manitoba Bureau of Statistics, behind Canada’s estimated increase of 3.1%. This comes after a year when Manitoba’s economy significantly outperformed Canada and other provincial economies.

The Manitoba Finance survey of economic forecasters, conducted April 03, 2011, projects that Manitoba’s real GDP will grow by 2.7% in 2011 and 2012, matching the projected national increase in both years.

Manitoba’s labour market continued to perform favourably in 2010. Manitoba’s employment grew 1.9% compared to Canada’s 1.4% increase. Over the last three years, Manitoba has matched or outpaced national employment growth. Manitoba’s annual labour force participation rate of 69.6% was at a record-high level, and well above the national average. Manitoba’s unemployment rate in 2010 was 5.4%, second-lowest among provinces for the second consecutive year and below the national rate of 8.0%. Manitoba’s youth unemployment rate was 11.1%, also the second lowest in Canada.

Manitobans’ average weekly earnings continue to increase, with 2.0% growth in 2010. Nationally, average weekly earnings have increased 3.6%. With employment growth and moderate earnings growth, labour income earned in Manitoba advanced 3.4% in 2010, below the national increase of 4.0% but up from the 2.1% growth in 2009. Canada’s labour income increased by 0.1% in 2009.

Manitoba’s retail sales rose 5.5% in 2010. National retail sales increased 5.1%. The increase was third highest among provinces.

After declining by 24.6% in 2009, Manitoba housing starts increased by 41.1% to a 23 year high 5,888 units in 2010. Single family housing starts rose 30.7% while multiple unit construction increased 68.9%. Canada’s housing starts increased by 27.4% after a 29.4% decline in 2009.

Manitoba’s total capital investment spending in 2010 grew 10.4%, fourth highest among provinces and ahead of the national increase, reaching a new record-high level of $10.7 billion. Private capital investment grew 3.6% after a 7.1% decline in 2009 (less than half the decline experienced by Canada).

For 2011, Statistics Canada’s survey of investors indicates Manitoba’s capital investment is expected to increase by 1.1%, with a 0.6% increase in private investment and a 1.9% increase in public investment. By industry, manufacturing is expected to post the strongest increase with 29.4% growth.

Manitoba has posted the steadiest growth in private capital investment among provinces, posting only one annual decline in private investment over a twenty year period. Between 2005 and 2010, Statistics Canada estimates that private investment in the province grew 35.5%, three times the rate of increase for Canada as a whole the second-highest increase in private investment among provinces.

Despite numerous challenges, including the appreciation of the Canadian currency and continuing weakness in the US economy, Manitoba’s manufacturing sector turned around in 2010. Over the last year, Manitoba sales significantly improved, increasing 9.1% in the fourth quarter of 2010 compared to the fourth quarter of 2009. During the global recession, Manitoba’s manufacturers’ annual sales declined 1.7% in 2010 after a 10.7% decline in 2009.

The lower value of exports of manufactured goods is a principal factor in the overall decline in Manitoba’s merchandise exports this year. The value of foreign merchandise exports declined 2.9%. Manitoba exports to

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PROVINCE OF MANITOBA APRIL TO DECEMBER 2010

the U.S. were down 7.5% while non-U.S. exports grew 6.8%. Despite the decline, Manitoba’s foreign exports posted good gains through the latter half of the year, with exports in the final quarter of 2010 rising by 12.8%, paralleling the strong performance of Manitoba manufacturing shipments.

Manitoba’s farm cash receipts declined 1.3% in 2010 compared to a 1.7% national decline over the same period. Manitoba’s receipts from livestock rose 7.1% while crops receipts declined 5.3%. Some of the gains in certain commodity categories were offset by decreases in crop insurance and other programs.

The Consumer Price Index rose 0.8% in Manitoba in 2010, behind the national inflation rate of 1.8%. This comes after a 0.6% Manitoba increase in 2009, ahead of the national increase of only 0.3%. For 2011 and 2012, Manitoba Finance’s survey of economic forecasts indicates Manitoba’s CPI inflation will average about 2.0%, in line with the national inflation outlook.

On January 1 of this year, Manitoba’s population reached 1,243,653, an annual increase of 16,915 persons. Population grew 1.38%, from the previous year, ahead of Canada’s increase of 1.11% and fourth among provinces. Immigration of 15,805 was the largest since 1945.

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 2010

2010/11 Core Government Revenue by Source
UNAUDITED Appendix I

	Year-to-Date to December 31									Full Year
	2010/11							2009/10		2010/11							Actual
($000s)	Actual		Estimated		Variance			Actual		Forecast		Budget		Variance			2009/10
Income taxes
Individual Income Tax		1,817,169		1,780,201		36,968			1,748,203		2,586,000		2,420,500		165,500			2,401,381
Corporation Income Tax		213,418		196,890		16,528			193,248		329,900		246,900		83,000			257,081
Subtotal: Income Taxes		2,030,587		1,977,091		53,496			1,941,451		2,915,900		2,667,400		248,500			2,658,462
Other Taxes
Corporations Taxes		177,498		180,147		(2,649	)		175,570		222,200		196,200		26,000			233,159
Gasoline Tax		112,408		109,635		2,773			105,967		147,800		141,300		6,500			139,808
Land Transfer Tax		49,699		48,037		1,662			43,885		58,999		51,000		7,999			53,661
Levy for Health and Education		280,837		280,705		132			275,038		377,650		377,650		—			364,736
Mining Tax		9,384		9,332		52			—		21,000		6,000		15,000			9,924
Motive Fuel Tax		71,566		69,727		1,839			67,704		94,100		88,600		5,500			90,158
Retail Sales Tax		1,250,803		1,269,380		(18,577	)		1,227,045		1,603,600		1,668,600		(65,000	)		1,569,845
Tobacco Tax		178,942		181,016		(2,074	)		161,217		233,000		225,000		8,000			215,543
Other Taxes		7,794		7,979		(185	)		7,373		10,766		10,948		(182	)		11,664
Subtotal: Other Taxes		2,138,931		2,155,958		(17,027	)		2,063,799		2,769,115		2,765,298		3,817			2,688,498
Fees and Other Revenue
Fines and Costs and Other Legal		37,421		37,360		61			32,799		49,416		50,190		(774	)		44,729
Minerals and Petroleum		19,690		19,149		541			13,814		22,276		12,261		10,015			17,361
Automobile and Motor Carrier Licences and Fees		96,794		94,970		1,824			93,996		127,026		118,026		9,000			126,925
Parks: Forestry and Other Conservation		24,979		23,251		1,728			28,683		28,700		30,144		(1,444	)		34,080
Water Power Rentals		84,361		80,359		4,002			85,861		113,108		110,000		3,108			114,745
Service Fees and Other Miscellaneous Charges		70,278		70,834		(556	)		70,014		134,225		128,509		5,716			141,071
Revenue Sharing from SOAs		19,073		19,074		(1	)		17,910		25,430		25,430		—			24,380
Subtotal: Fees and Other Revenue		352,596		344,997		7,599			343,077		500,181		474,560		25,621			503,291
Federal Transfers
Equalization		1,545,012		1,545,013		(1	)		1,547,546		2,001,518		2,001,500		18			2,063,394
Canada Health Transfer (CHT)		711,959		715,019		(3,060	)		674,541		949,300		953,358		(4,058	)		897,402
Canada Social Transfer (CST)		303,049		303,524		(475	)		293,790		404,249		404,698		(449	)		392,184
Health Funds		7,066		8,435		(1,369	)		10,208		12,018		9,038		2,980			12,357
Infrastructure Renewal		380		239		141			—		137,005		150,822		(13,817	)		55,441
Manitoba Floodway Expansion		8,665		19,463		(10,798	)		10,229		31,565		39,869		(8,304	)		35,571
Shared Cost and Other Transfers		124,252		127,107		(2,855	)		128,540		210,878		191,610		19,268			219,812
Subtotal: Federal Transfers		2,700,383		2,718,800		(18,417	)		2,664,854		3,746,533		3,750,895		(4,362	)		3,676,161
Net Income of Government
Business Enterprises (GBEs)
Manitoba Liquor Control Commission		156,000		156,000		—			141,900		246,800		246,800		—			233,677
Manitoba Lotteries Corporation		233,750		233,750		—			231,100		317,000		312,700		4,300			306,673
Subtotal: Net Income of GBEs		389,750		389,750		—			373,000		563,800		559,500		4,300			540,350
Total Revenue		7,612,247		7,586,596		25,651			7,386,181		10,495,529		10,217,653		277,876			10,066,762

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PROVINCE OF MANITOBA APRIL TO DECEMBER 2010

2010/11 Core Government Expenditure by Sector/Department
UNAUDITED Appendix II

	Year-to-Date to December 31												Full Year
	2010/11									2009/10			2010/11									Actual
($000s)	Actual			Estimated			Variance			Actual			Forecast			Budget1			Variance			2009/102
Health and Healthy Living
Health		3,402,307			3,359,482			42,825			3,238,497			4,717,984			4,677,818			40,166			4,470,131
Healthy Living, Youth and Seniors		51,752			58,418			(6,666	)		54,461			76,517			76,575			(58	)		71,710
Total Health and Healthy Living		3,454,059			3,417,900			36,159			3,292,958			4,794,501			4,754,393			40,108			4,541,841
Education
Advanced Education and Literacy		473,287			474,246			(959	)		458,020			624,235			626,996			(2,761	)		599,652
Education		1,137,229			1,158,591			(21,362	)		1,109,129			1,508,296			1,506,903			1,393			1,464,238
Total Education		1,610,516			1,632,837			(22,321	)		1,567,149			2,132,531			2,133,899			(1,368	)		2,063,890
Family Services and Consumer Affairs		982,207			985,805			(3,598	)		941,896			1,374,302			1,307,507			66,795			1,290,656
Community, Economic and Resource Development
Aboriginal and Northern Affairs		26,303			30,321			(4,018	)		26,570			38,676			37,676			1,000			41,045
Agriculture, Food and Rural Initiatives		126,794			124,776			2,018			123,996			214,079			215,509			(1,430	)		219,879
Conservation		96,337			96,976			(639	)		99,236			124,901			125,427			(526	)		134,420
Entrepreneurship, Training and Trade		93,964			93,267			697			84,942			155,612			151,825			3,787			155,204
Housing and Community Development		52,264			52,983			(719	)		46,482			70,908			72,336			(1,428	)		68,810
Infrastructure and Transportation		408,478			414,612			(6,134	)		398,824			632,942			630,277			2,665			575,147
Innovation, Energy and Mines		60,791			60,285			506			57,967			78,175			76,120			2,055			76,188
Local Government		181,596			211,065			(29,469	)		160,403			281,282			256,581			24,701			247,604
Water Stewardship		22,220			24,151			(1,931	)		23,531			33,116			33,637			(521	)		32,317
Total Community, Economic and Resource Development		1,068,747			1,108,436			(39,689	)		1,021,951			1,629,691			1,599,388			30,303			1,550,614
Justice and Other Expenditures
Legislative Assembly		27,429			28,208			(779	)		26,113			38,517			39,166			(649	)		36,098
Executive Council		3,015			3,011			4			2,947			3,914			4,027			(113	)		4,118
Civil Service Commission		14,404			14,958			(554	)		15,606			20,023			20,480			(457	)		20,400
Culture, Heritage and Tourism		49,455			50,424			(969	)		52,079			63,490			63,598			(108	)		68,799
Employee Pensions and Other Costs		(4,422	)		(4,220	)		(202	)		(4,683	)		10,919			18,060			(7,141	)		8,059
Finance		73,705			74,517			(812	)		74,021			88,683			89,962			(1,279	)		87,256
Justice		288,365			291,351			(2,986	)		274,134			430,579			406,810			23,769			408,941
Labour and Immigration		38,633			40,212			(1,579	)		37,120			60,393			61,074			(681	)		58,296
Sport		9,180			9,190			(10	)		8,882			11,919			11,919			—			11,914
Enabling Appropriations		2,591			3,010			(419	)		1,083			10,318			13,358			(3,040	)		2,932
Other Appropriations		45,439			51,051			(5,612	)		69,096			119,407			30,151			89,256			173,876
Total Justice and Other Expenditures		547,794			561,712			(13,918	)		556,398			858,162			758,605			99,557			880,689
Less: Year-End Lapse		—			—			—			—			(32,500	)		(65,000	)		32,500			—
Debt Servicing Costs		186,282			193,280			(6,998	)		190,226			240,534			265,785			(25,251	)		240,194
Total Expenditure		7,849,605			7,899,970			(50,365	)		7,570,578			10,997,221			10,754,577			242,644			10,567,884
Subtract: Total Expenditure Estimates(above) from Total Revenue Estimate (Appendix I)		7,612,247			7,586,596			25,651			7,386,181			10,495,529			10,217,653			277,876			10,066,762
Net Result for the Year (before transfers)		(237,358	)		(313,374	)		76,016			(184,397	)		(501,692	)		(536,924	)		35,232			(501,122	)
Transfer to Debt Retirement		—			—			—			—			—			—			—			(20,000	)
Transfer from / (to) Fiscal Stabilization		—			—			—			—			49,754			38,490			11,264			57,186
Net Result for the Year		(237,358	)		(313,374	)		76,016			(184,397	)		(451,938	)		(498,434	)		46,496			(463,936	)

1.	Budget figures are adjusted to include Enabling Appropriations
2.	For comparative purposes the 2009/10 Actual has been re-stated to reflect the 2010/11 appropriation structure.

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PROVINCE OF MANITOBA APRIL TO DECEMBER 2010

2010/11 Core Government Capital Investment	Appendix III
UNAUDITED

	Year-to-Date to December 31									Full Year
	2010/11							2009/10		2010/11							Actual
($000s)	Actual		Estimated		Variance			Actual		Forecast		Budget		Variance			2009/10
General Assets
Government Services Capital Projects		73,245		90,456		(17,211	)		40,456		122,276		160,482		(38,206	)		95,219
Transportation Equipment and Aircraft		40,201		42,833		(2,632	)		9,629		59,994		58,814		1,180			24,733
Information Technology Projects		8,651		12,507		(3,856	)		5,790		20,963		22,792		(1,829	)		17,407
Other Equipment and Buildings		2,400		2,376		24			827		7,334		7,111		223			2,966
		124,497		148,172		(23,675	)		56,702		210,567		249,199		(38,632	)		140,325
Infrastructure Assets
Provincial Roads, Highways and Airport Infrastructure		272,658		293,648		(20,990	)		313,496		365,325		367,075		(1,750	)		370,220
Manitoba Floodway Expansion		58,211		104,261		(46,050	)		51,903		153,565		153,565		—			86,618
Water Control Infrastructure		4,753		7,334		(2,581	)		6,998		16,600		10,600		6,000			10,344
Parks, Cottage and Camping Projects		7,911		8,200		(289	)		8,714		15,244		16,757		(1,513	)		14,505
		343,533		413,443		(69,910	)		381,111		550,734		547,997		2,737			481,687
Total Capital Investment		468,030		561,615		(93,585	)		437,813		761,301		797,196		(35,895	)		622,012

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