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

Exhibit 99.1

Province of Manitoba

2013/14 Quarterly Financial Report

April to September 2013

Honourable Jennifer Howard

Minister of Finance

	Focused on what matters most to families
	Province of Manitoba
	2013/14 Quarterly Financial Report
	April to September 2013
	CONTENTS
	Introduction
	Quarterly Financial Results
	Economic Performance and Outlook

INTRODUCTION

Budget 2013 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 (PSAB) and fully reflects Generally Accepted Accounting Principles (GAAP).

The financial information in this quarterly financial report is presented in the same format as the budget. The second quarter financial report presents information on the GRE for the six months ending September 30, 2013, as well as an updated financial forecast for the current fiscal year. The report also contains an economic performance and outlook.

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  PROVINCE OF MANITOBA     APRIL TO SEPTEMBER 2013  

GOVERNMENT REPORTING ENTITY (GRE)

Manitoba continues to be committed to a balanced approach for delivering services while recognizing the continued uncertainty in global economies. This approach is demonstrated by the protection of the services Manitoba families need and by making strategic investments in infrastructure to support economic growth and provide for the services Manitobans require in the future.

The summary forecast for fiscal year 2013/14 is a net loss of $485 million, an improvement of $33 million from the budgeted net loss of $518 million.

At the end of the second quarter, projections from other reporting entities indicate expenditures will be under budget by $77 million while revenue is projected to be higher than budget by $31 million.

Core government revenue is projected to surpass the budget by $41 million. Higher projections for both corporate and individual income tax and the one-time revenue associated with the completion of the sale of the Property Registry were offset by lower lottery revenues and a decrease in federal health and social transfers as a result of Statistics Canada’s downward revision to Manitoba’s estimated population numbers.

Expenditures in core government are anticipated to be $41 million higher than budget as a result of significant pressure in the areas of public safety services, supports for vulnerable persons and additional expenditures for forest fire suppression in Northern Manitoba this past summer. Expenditure management initiatives are underway to carefully review expenditures and reduce costs while not jeopardizing services to Manitobans.

Budgeted Summary Net Income/(Loss)

For the Fiscal Year Ending March 31, 2014

UNAUDITED

	2013/14 Projection						2013/14 Budget
(Millions of Dollars)	Core  Government		Consolidation  Impacts and Other		Summary		Core    Government		Consolidation Impacts and Other		Summary		Summary Variance
Revenue		11,565		2,716		14,281		11,524		2,685		14,209		72
Expenditure		12,140		2,701		14,841		12,099		2,778		14,877		(36)
In-Year Adjustment/Lapse		(35)		(40)		(75)		(70)		(80)		(150)		75
NET INCOME (LOSS)		(540)		55		(485)		(505)		(13)		(518)		33

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  PROVINCE OF MANITOBA     APRIL TO SEPTEMBER 2013  

QUARTERLY FINANCIAL RESULTS

The unaudited net result of the Government Reporting Entity for the first six months of the fiscal year is a surplus of $153 million.

This is primarily the result of the six-month positive revenue variance of $171 million due to higher than estimated Retail Sales Tax in the first six months and Government Business Enterprise net income.

The expenditure variance of $(44) million is primarily the result of timing.

Government Reporting Entity Operating Statement

UNAUDITED

	Year-to-Date to September 30
	2013/14						2012/13
($000s)	Actual		Estimated		Variance		Actual2
Revenue
Income Taxes		1,732,405		1,726,549		5,856		1,627,270
Other Taxes		2,137,658		2,090,826		46,832		1,920,371
Fees and Other Revenue		1,103,580		1,074,237		29,342		1,032,325
Federal Transfers		1,941,578		1,957,549		(15,971)		2,058,861
Net Income of Government Business Enterprises		344,356		242,895		101,461		276,075
Sinking Funds and Other Earnings		123,788		120,373		3,415		137,297
Total Revenue		7,383,364		7,212,429		170,935		7,052,199
Expenditure
Health		2,802,198		2,807,609		(5,411)		2,775,045
Education and Advanced Learning		1,998,397		2,017,689		(19,292)		1,612,323
Family Services		517,987		537,214		(19,227)		506,125
Community, Economic and Resource Development		1,060,787		1,076,925		(16,138)		1,070,972
Justice and Other Expenditures		469,248		443,370		25,879		383,491
Debt Servicing Costs		381,515		391,777		(10,262)		371,782
Total Expenditure		7,230,132		7,274,583		(44,452)		6,719,738
NET INCOME (LOSS)		153,232		(62,155)		215,386		332,461

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 SEPTEMBER 2013  

INFRASTRUCTURE AND CAPITAL ASSET RENEWAL

Based on principles of sound financial management, the government has been able to increase the assets of the province while maintaining a manageable level of debt. Budget 2013 provides the resources to invest in much needed flood-related and other infrastructure to meet the needs of Manitoba into the future. This includes core infrastructure such as highways and bridges, municipal infrastructure, water and flood protection, as well as other capital investments for health facilities, housing, schools and post-secondary institutions.

Expenditures for all infrastructure and capital asset renewal in 2013/14 are forecast to be $1.5 billion. While this projection is $300 million lower than budget, it is $250 million higher than the actual amount spent in 2012/13, demonstrating the government’s continued support for infrastructure renewal. This commitment supports economic growth, reduces the maintenance burden and provides for the services Manitobans need in the future.

In the fall, the Manitoba government announced a new core infrastructure building plan that will see $5.5 billion invested over five years starting in 2014 to continue building and renewing core infrastructure assets while creating good jobs and supporting a steady, growing economy.

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 highway infrastructure, schools and hospitals – 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, Budget 2013 projected the net debt to GDP ratio at 28.7%. Net debt to GDP is currently forecast to be 28.1%, a slight decrease from budget.

Further details related to capital investment in assets owned by core government (departments) are provided in Appendix III on page 11.

SPECIAL ACCOUNTS

Fiscal Stabilization

Manitoba’s balanced financial strategy maintains the legislated requirement to dedicate at least $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 incurred during the economic recovery period. In 2013/14, $100 million will be withdrawn for debt repayment.

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 2013/14 for 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 SEPTEMBER 2013  

PROVINCIAL BORROWINGS,

GUARANTEES AND OBLIGATIONS

Manitoba’s borrowing requirement identified in Budget 2013 was $4.8 billion including refinancing of $2.2 billion and new cash requirements, net of estimated repayments, of $2.6 billion.

New cash requirements are necessary for general government purposes, capital investments by departments, health facilities, post-secondary institutions and Manitoba Hydro. Estimated repayments are primarily for departmental capital investment and general purpose borrowings.

At the end of second quarter, Manitoba’s borrowing requirement has been revised to $4.7 billion. The revision is primarily due to reduced requirements for Manitoba Hydro.

The total of 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 remains unchanged 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 2013  

Provincial Borrowings, Guarantees and Obligations

Provincial Borrowings, Guarantees and Obligations

	2013/14 Forecast				March 31, 2013
Provincial Borrowings, Guarantees and Obligations1	$ millions		$ Per Capita*		$ millions		$ Per Capita*
General Government Programs		8,879		7,019		8,565		7,015
General Government Programs - Pension Liability		2,595		2,051		2,595		2,125
The Manitoba Hydro-Electric Board		11,010		8,703		9,609		7,870
Other Crown Organizations		2,397		1,895		2,246		1,840
Health Facilities		1,314		1,039		1,149		941
Other		17		13		23		19
Capital Investments		3,959		3,130		3,668		3,004
Subtotal2		30,171		23,850		27,855		22,814
Other Obligations
Pension Liability		7,264				6,943
Pension Asset Fund		(5,266)				(5,115)
Net Pension Liability		1,998				1,828
Debt incurred for and repayable by The Manitoba Hydro-Electric Board		(10,659)				(9,443)
Education and Health Debt held by Government Enterprises		535				547
Other Debt of Crown Organizations		266				264
Subtotal		(7,860)				(6,804)
Total Provincial Borrowings, Guarantees and Obligations		22,311				21,051
Adjustments to arrive at Summary Net Debt
Guarantees		(351)				(166)
Net Financial Assets		(4,607)				(4,992)
Summary Net Debt		17,353		13,718		15,893		13,017
Summary Net Debt as a percentage of GDP		28.1%				26.8%

Notes: Provincial Borrowings, Guarantees and Obligations

1. Provincial borrowings, guarantees and obligations are net of sinking funds.

2. Provincial Borrowings and Guarantees are payable in Canadian and U.S. dollars. As at September 30, 2013, total provincial borrowings and guarantees were payable 94% in Canadian dollars and 6% 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 82% in Canadian dollars (79% at March 31, 2013) and 18% in U.S. dollars (21% at March 31, 2013).

*     The per capita data is based upon population figures at July 1, 2013 as reported by Statistics Canada.

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  PROVINCE OF MANITOBA     APRIL TO SEPTEMBER 2013  

ECONOMIC PERFORMANCE AND OUTLOOK

The Manitoba economy is resilient and is expected to expand modestly over the medium term as the global economic environment remains uncertain. The outlook for Manitoba’s real GDP growth is virtually unchanged from the forecast in Budget 2013; however, the global forecast has marginally weakened.

The majority of uncertainty about the global economic situation centers around fiscal consolidation and monetary policy in the U.S., the outlook for the European economy amid tight credit conditions and restrained spending by businesses, households and governments, and the sustainability of growth in Asia given the reduced level of exports sales to advance economies.

Manitoba is not immune to these external developments. In 2012, international exports from Manitoba contracted, pushing real manufacturing output down by 1.0%.

However, reflecting Manitoba’s industrial diversity, overall real GDP increased by 2.6% in 2012, on the strength of oil production, a rebound in crop production and increased residential and non-residential construction activity. Manitoba’s economic growth in 2012 was the second highest among provinces and above the national average of 1.7%.

Looking ahead, the Manitoba Finance survey of economic forecasters indicates that Manitoba`s real GDP will expand 2.0% this year, above the projected national increase of 1.7% and ranked fourth highest among provinces. In 2014, Manitoba’s real GDP is expected to increase by 2.2%, below the projected national increase of 2.4%.

The outlook for commodity prices for some of Manitoba’s export goods remains soft over the medium term. As a result, Manitoba’s nominal GDP is expected to increase by 3.4% in 2013 and by 3.8% in 2014, down from 5.6% in 2012.

The provinces major economic indicators are showing steady progress through the first three quarters of 2013.

The labour market is balanced in Manitoba with new workers entering the labour force gaining employment. Accordingly, the unemployment rate has been steady for the last five years and ranked the second or third lowest among provinces. This year, the unemployment rate has averaged 5.3%, third-lowest among provinces and below the national rate of 7.1%.

Labour income (compensation of employees) growth is closely following the national pattern. Last year, labour income increased by 4.3% in Manitoba, below the national average of 4.5% and ranked fourth among provinces. In the first nine months of 2013, incomes expanded by 3.3%, fifth among provinces and below the national increase of 3.8%.

Retail activity has improved from last year with total sales increasing by 2.1% on a year-to-date basis, compared to 1.6% in 2012. Motor vehicle dealerships and home furnishing stores sales are up by 15% and 14.8%, respectively, in 2013. The number of motor vehicle unit sales in the province is up 8.9% in 2013, second highest among provinces and well above the 3.0% national gain. Department stores, electronics & appliances, health and personal services sales are dampening spending in 2013.

In 2012, foreign merchandise exports from Manitoba decreased by 2.7%. The decrease partly reflected the impact of moderating global economic growth. In addition, low inventory levels from poor yields and small harvests in 2010 and 2011 reduced export sales of Manitoba crops in 2012.

In 2013, the improvements in U.S. housing are partially boosting overall exports by 10.9%. Exports to the U.S have increased by

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PROVINCE OF MANITOBA   APRIL TO SEPTEMBER 2013  

13.0% in 2013. Exports to non-U.S. markets have rebounded by 6.4%, in the first ten months of this year as compared to the same period in the previous year. While exports to China are flat this year, exports to other major markets, including Germany, Japan and the United Kingdom have increased.

The pace of manufacturing growth has slowed after rebounding from the Great Recession. Manufacturing sales in Manitoba have declined by 0.6% so far in 2013, compared to the 1.3% decline nationally. Despite a notable increase in wood products and agricultural machinery sales, durable manufactured product sales are down by 2.6% in 2013. With food and chemical product sales turning around in 2013, sales of non-durable manufactured products are up 2.4%.

In 2012, agricultural production rebounded to record 16.1% growth, after a poor performance in 2011 caused by the impacts of the Assiniboine River flood. In 2013, favorable growing conditions have further improved the prospects for another solid year in crop production. Wheat harvest in 2013 was the fifth highest and canola harvest was second highest on historical record.

Related to the rebound in crop production, Manitoba’s farm cash receipts are up 14.7% in the first three quarters of 2013, the highest among provinces. Crop receipts increased by 28.7% with gains in wheat (58%), barley (75%) and Canola (9%). Livestock receipts were up 2.9% with both cattle and hogs increasing. Direct payments, which include insurance and other types of supports, decreased 15.3%.

The housing sector remains strong in Manitoba. Every year since 2004, Manitoba’s housing starts have surpassed the national average annual growth. In the first eleven months of 2013, urban housing starts are up 16.2%, the strongest growth in Canada and bucking the national decline of 13.4%. With relatively low vacancy rates, new residential

construction is supported by a large number of multiple units (apartments and condominiums) being built throughout the province. Canada Mortgage and Housing Corporation (CMHC) projects that total housing starts in the province will reach 7,400 units this year, the highest since 1987. For 2014, CMHC forecasts housing starts will reach 7,100 units.

For the past twenty-one years, private sector capital spending in Manitoba has consistently increased in all but one year, the steadiest growth among provinces. According to the Statistics Canada survey, Manitoba’s total capital investment is expected to increase 8.5% in 2013, well above the Canadian increase of 1.7%. Manitoba’s private investment is projected to increase 6.3% and public investment to increase 12.9%.

The Consumer Price Index has increased by 2.3% on a year-to-date basis in 2013, in line with the Manitoba Finance’s survey of economic forecasts, and above the national increase of 0.9%.

Manitoba’s population has experienced healthy growth over the past 10 years. Immigration levels to the province have risen considerably, net interprovincial out-migration has decreased and the number of births has increased. As of July 1, 2013, Manitoba’s population is estimated at 1,265,015 persons, Population increased by 1.2% from 2012, the third consecutive annual increase above the national average and third fastest among provinces over the last three years.

For monthly updates and more details please see the Manitoba Economic Highlights and Statistics at:

http://www.gov.mb.ca/finance/pdf/highlights.pdf

&

http://www.gov.mb.ca/finance/pdf/statistics.pdf

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PROVINCE OF MANITOBA   APRIL TO SEPTEMBER 2013  

2013/14 Core Government Revenue by Source	Appendix I
UNAUDITED

	Year-to-Date to September 30								Full Year
	2013/14						2012/13		2013/14						2012/13
($000s)	Actual		Estimated		Variance		Actual		Forecast		Budget		Variance		Actual
Income taxes
Individual Income Tax		1,450,439		1,450,392		47		1,320,444		2,963,200		2,952,400		10,800		2,846,037
Corporation Income Tax		281,966		276,157		5,809		306,826		481,200		413,200		68,000		456,447
Subtotal: Income Taxes		1,732,405		1,726,549		5,856		1,627,270		3,444,400		3,365,600		78,800		3,302,484
Other Taxes
Corporations Taxes		112,265		101,028		11,237		91,927		227,000		227,000		-		212,586
Fuel Taxes		164,494		159,466		5,028		152,140		317,100		312,100		5,000		313,615
Land Transfer Tax		49,304		46,549		2,755		43,958		79,000		74,000		5,000		74,936
Levy for Health and Education		213,034		207,462		5,572		199,381		433,500		433,500		-		410,284
Mining Tax		9,045		21,045		(12,000)		24,963		15,000		40,000		(25,000)		37,632
Retail Sales Tax		1,014,064		974,532		39,532		867,640		2,047,200		2,047,200		-		1,763,900
Tobacco Tax		153,756		153,823		(67)		134,645		283,000		283,000		-		252,058
Other Taxes		4,384		6,161		(1,777)		5,240		13,812		16,173		(2,361)		12,478
Subtotal: Other Taxes		1,720,346		1,670,066		50,280		1,519,894		3,415,612		3,432,973		(17,361)		3,077,489
Fees and Other Revenue
Fines and Costs and Other Legal		27,071		26,277		794		25,344		52,233		52,030		203		49,522
Minerals and Petroleum		10,307		12,183		(1,876)		11,662		19,217		29,074		(9,857)		19,350
Automobile and Motor Carrier Licences and Fees		78,220		69,769		8,451		67,952		140,530		140,530		-		151,007
Parks: Forestry and Other Conservation		17,300		12,507		4,793		17,802		34,377		33,568		809		32,245
Water Power Rentals		60,478		57,393		3,085		55,320		114,444		107,700		6,744		111,656
Service Fees and Other Miscellaneous Charges		44,685		45,775		(1,090)		46,546		238,278		165,074		73,204		151,525
Revenue Sharing from SOAs		13,565		13,464		101		13,465		22,380		16,880		5,500		26,930
Subtotal: Fees and Other Revenue		251,626		237,368		14,258		238,091		621,459		544,856		76,603		542,235
Federal Transfers
Equalization		903,071		903,071		-		1,036,629		1,799,225		1,799,228		(3)		1,871,962
Canada Health Transfer (CHT)		560,419		560,419		-		531,228		1,089,900		1,120,800		(30,900)		1,056,305
Canada Social Transfer (CST)		221,377		221,377		-		214,597		436,500		442,753		(6,253)		431,033
Health Funds		4,531		4,531		-		4,523		9,062		9,062		-		9,079
Infrastructure Renewal		-		-		-		-		22,100		22,100		-		35,271
Shared Cost and Other Transfers		45,434		52,621		(7,187)		71,389		168,630		171,403		(2,773)		276,600
Subtotal: Federal Transfers		1,734,832		1,742,019		(7,187)		1,858,366		3,525,417		3,565,346		(39,929)		3,680,250
Net Income of Government
Business Enterprises (GBEs)
Manitoba Liquor and Lotteries Corporation		241,000		241,000		-		262,000		558,444		615,055		(56,611)		558,151
Sinking Funds and Other Earnings		-		-		-		-		-		-		-		-
Total Revenue		5,680,209		5,617,002		63,207		5,505,621		11,565,332		11,523,830		41,502		11,160,609

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PROVINCE OF MANITOBA   APRIL TO SEPTEMBER 2013  

2013/14 Core Government Expenditure by Sector/Department	Appendix II
UNAUDITED

	Year-to-Date to September 30								Full Year
	2013/14						2012/13		2013/14						2012/13
($000s)	Actual		Estimated		Variance		Actual1		Forecast		Budget2		Variance		Actual
Health
Health		2,627,567		2,624,014		3,553		2,584,087		5,275,409		5,273,777		1,632		5,065,326
Education
Education and Advanced Learning		1,196,973		1,194,011		2,962		1,171,705		2,366,555		2,368,370		(1,815)		2,303,648
Family Services
Children and Youth Opportunities		26,111		28,766		(2,655)		27,259		48,875		48,875		-		43,102
Family Services		505,282		521,917		(16,635)		485,776		1,107,365		1,080,064		27,301		1,046,626
Total Family Services		531,393		550,683		(19,290)		513,035		1,156,240		1,128,939		27,301		1,089,728
Community, Economic and Resource Development
Aboriginal and Northern Affairs		18,880		19,513		(633)		18,771		33,602		34,249		(647)		34,461
Agriculture, Food and Rural Development		41,710		44,111		(2,401)		38,915		214,578		214,765		(187)		245,989
Conservation and Water Stewardship		77,417		79,710		(2,293)		83,545		150,408		147,929		2,479		159,306
Housing and Community Development		47,949		48,335		(386)		46,746		82,786		82,587		199		78,772
Infrastructure and Transportation		304,469		307,942		(3,473)		304,650		619,324		639,203		(19,879)		630,743
Jobs and the Economy		316,058		326,623		(10,565)		315,413		658,206		659,054		(848)		651,387
Mineral Resources		6,057		5,858		199		5,703		11,417		11,289		128		12,241
Municipal Government		133,311		137,020		(3,709)		176,451		400,390		400,557		(167)		361,633
Total Community, Economic and Resource Development		945,851		969,112		(23,261)		990,194		2,170,711		2,189,633		(18,922)		2,174,532
Justice and Other Expenditures
Legislative Assembly		19,553		20,094		(541)		17,283		43,204		42,560		644		37,682
Executive Council		2,206		2,297		(91)		2,076		3,793		3,793		-		3,755
Civil Service Commission		9,828		9,995		(167)		9,680		20,400		20,400		-		20,155
Employee Pensions and Other Costs		(2,953)		(3,793)		840		(2,259)		18,288		18,288		-		11,442
Finance		31,651		32,409		(758)		29,357		71,232		71,250		(18)		72,321
Justice		225,348		196,902		28,446		179,053		536,748		508,801		27,947		497,018
Labour and Immigration		17,146		19,538		(2,392)		24,264		35,473		39,037		(3,564)		58,921
Multiculturalism and Literacy		13,396		16,750		(3,354)		16,252		21,491		21,500		(9)		23,970
Tourism, Culture, Heritage, Sport and Consumer Protection		46,355		46,931		(576)		45,819		86,177		86,177		-		84,252
Enabling Appropriations		2,601		3,042		(441)		1,945		10,955		40,965		(30,010)		3,058
Other Appropriations		55,189		49,583		5,606		23,068		92,910		55,393		37,517		170,487
Total Justice and Other Expenditures		420,320		393,748		26,572		346,538		940,671		908,164		32,507		983,061
Debt Servicing Costs		73,775		87,436		(13,661)		98,789		230,000		230,000		-		233,511
Total Expenditure		5,795,879		5,819,004		(23,125)		5,704,348		12,139,586		12,098,883		40,703		11,849,806
Subtract: Total Revenue Estimate (Appendix I)		5,680,209		5,617,002		63,207		5,505,621		11,565,332		11,523,830		41,502		11,160,609
In-Year Adjustment/Lapse		-		-		-		-		(35,000)		(70,000)		35,000		-
NET INCOME (LOSS)		(115,670)		(202,002)		86,332		(198,727)		(539,254)		(505,053)		(34,201)		(677,152)

1. For comparative purposes the 2012/13 Actual has been re-stated to reflect the 2013/14 appropriation structure.

2. Budget figures are adjusted to include Enabling Appropriations.

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PROVINCE OF MANITOBA   APRIL TO SEPTEMBER 2013  

2013/14 Capital Investment made by Core Government1	Appendix III
UNAUDITED

	Year-to-Date to September 30								Full Year
	2013/14						2012/13		2013/14						2012/13
($000s)	Actual		Estimated		Variance		Actual		Forecast		Budget2		Variance		Actual
General Assets
Government Services Capital Projects		31,101		36,470		(5,369)		42,151		75,512		112,000		(36,488)		87,699
Transportation Equipment and Aircraft		2,794		3,578		(784)		20,976		16,920		16,920		-		34,176
Information Technology Projects		6,644		4,805		1,839		815		24,210		23,744		466		13,064
Other Equipment and Buildings		6,778		3,530		3,248		8,858		19,622		19,582		40		26,143
		47,317		48,383		(1,066)		72,800		136,264		172,246		(35,982)		161,082
Infrastructure Assets
Provincial Roads, Highways and Airport Infrastructure		150,085		165,270		(15,185)		136,393		392,510		470,510		(78,000)		285,822
Water Related Infrastructure		11,608		17,247		(5,639)		36,555		29,300		37,100		(7,800)		102,432
Parks, Cottage and Camping Projects		2,278		4,717		(2,439)		5,632		14,656		15,839		(1,183)		18,497
		163,971		187,234		(23,263)		178,580		436,466		523,449		(86,983)		406,751
Total Capital Investment		211,288		235,617		(24,329)		251,380		572,730		695,695		(122,965)		567,833

1. This chart includes only capital assets owned by core government such as highways, flood protection, government buildings, (e.g. UCN – Thompson and The Pas, highways maintenance shops/sheds, correctional facilities). It does not include other infrastructure investments in non-government –owned assets such as capital grants to municipalities and other third parties. All capital and infrastructure investments are forecast to total $1.5 billion and are reflected on page 4.

2. Budget figures are adjusted to include Enabling Appropriations.

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