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

Exhibit 99.1

  Focused on              what matters most    to families

Province of Manitoba

2013/14 Quarterly Financial Report

April to December 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 third quarter financial report presents information on the GRE for the nine months ending December 31, 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 DECEMBER 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 $332 million, an improvement of $186 million from the budgeted net loss of $518 million. As a result of establishing a $100 million provision for costs associated with the effects of flooding in four First Nations communities, the summary deficit declines to $432 million, but still better than budgeted.

Projections from other reporting entities are favorable resulting in a $59 million under expenditure, mainly as a result of reduced claims in the Manitoba Agricultural Services Corporation and $215 million increase in revenue as a result of higher investment returns in the Government Business Enterprises.

Core government revenue is projected to surpass the budget by $76 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. Pressures continue in the areas of public safety services, supports for vulnerable persons and expenditures for forest fire suppression in Northern Manitoba this past summer

Expenditure management initiatives continue in an effort to reduce all costs by carefully reviewing expenditures while not jeopardizing services to Manitobans.

Projection of 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 Reporting Entities		Summary		Core   Government		Consolidation Impacts and Other Reporting Entities		Summary		Summary     Variance
Revenue		11,600		2,864		14,464		11,524		2,685		14,209		255
Expenditure		12,130		2,683		14,813		12,099		2,778		14,877		(64)
In-Year Adjustment/Lapse		(17)		-		(17)		(70)		(80)		(150)		133
NET RESULT FOR THE YEAR		(513)		181		(332)		(505)		(13)		(518)		186
EXTRAORDINARY ITEM
First Nations Flood Contingency		(100)		-		(100)		-		-		-		(100)
NET INCOME (LOSS)		(613)		181		(432)		(505)		(13)		(518)		86

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PROVINCE OF MANITOBA APRIL TO DECEMBER 2013  

QUARTERLY FINANCIAL RESULTS

The unaudited net result of the Government Reporting Entity for the first nine months of the fiscal year is a surplus of $8 million.

This is primarily the result of the nine-month positive revenue variance of $245 million due to higher than estimated Government Business Enterprise net income.

The expenditure variance of $(249) million is primarily the result of the timing of expenditure recognition and an under expenditure in Manitoba Agriculture Services Corporation.

Government Reporting Entity Operating Statement

UNAUDITED

	Year-to-Date to December 31
	2013/14						2012/13
($000s)	Actual		Estimated		Variance		Actual1
Revenue
Income Taxes		2,483,102		2,460,812		22,290		2,379,945
Other Taxes		3,194,800		3,222,678		(27,878)		2,961,345
Fees and Other Revenue		1,520,401		1,498,156		22,245		1,485,255
Federal Transfers		2,830,613		2,859,016		(28,403)		2,930,411
Net Income of Government
Business Enterprises		612,669		371,556		241,113		462,337
Sinking Funds and Other Earnings		186,585		170,512		16,073		198,318
Total Revenue		10,828,170		10,582,730		245,440		10,417,611
Expenditure
Health		4,169,991		4,242,990		(72,999)		3,994,146
Education and Advanced Learning		2,882,296		2,919,469		(37,173)		2,603,096
Family Services		793,875		827,232		(33,357)		777,124
Community, Economic and Resource Development		1,687,328		1,808,745		(121,417)		1,707,196
Justice and Other Expenditures		678,846		673,560		5,286		617,091
Debt Servicing Costs		607,602		596,824		10,778		620,449
Total Expenditure		10,819,938		11,068,820		(248,882)		10,319,102
NET INCOME (LOSS)		8,232		(486,090)		494,322		98,509

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

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 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, representing no change from the second quarter. 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 28.0%, 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 DECEMBER 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 third quarter, Manitoba’s borrowing requirement has been revised to $4.7 billion. The revision is primarily due to increased borrowing for general government purposes offset by 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 for general government programs has been revised upwards from that stated in the budget while the forecast for Capital Investments and Manitoba Hydro have been revised downwards, as shown in the table on the following page.

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PROVINCE OF MANITOBA APRIL TO DECEMBER 2013  

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		8,995		7,111		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		2,457		1,942		2,246		1,840
Health Facilities		1,225		968		1,149		941
Other		17		13		23		19
Capital Investments		4,013		3,172		3,668		3,004
Subtotal2		30,312		23,960		27,855		22,814
Other Obligations
Pension Liability		7,379				6,943
Pension Asset Fund		(5,322)				(5,115)
Net Pension Liability		2,057				1,828
Debt incurred for and repayable by The Manitoba Hydro-Electric Board		(10,745)				(9,443)
Education and Health Debt held by Government Enterprises		569				547
Other Debt of Crown Organizations		266				264
Subtotal		(7,853)				(6,804)
Total Provincial Borrowings, Guarantees and Obligations		22,459				21,051
Adjustments to arrive at Summary Net Debt
Guarantees		(265)				(166)
Net Financial Assets		(4,906)				(4,992)
Summary Net Debt3		17,288		13,666		15,893		12,714
Summary Net Debt as a percentage of GDP		28.0%				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 December 31, 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 83% in Canadian dollars (79% at March 31, 2013) and 17% in U.S. dollars (21% at March 31, 2013).

3. 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 U.S. dollar on U.S. debt held by The Manitoba Hydro-Electric Board. The OCI forecast does not impact summary net income.

* 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 DECEMBER 2013  

ECONOMIC PERFORMANCE AND OUTLOOK

Five years after the Great Recession, the global economic recovery is fragile and faces considerable challenges from international fiscal consolidation and business and household deleveraging, especially in Europe. Key regions of the world continue to have relatively high unemployment rates and low consumer and commodity price inflation. This suggests that the global economy is operating under capacity with only modest growth in demand for goods and services. As a result, global economic activity has decelerated.

According to the International Monetary Fund, global growth slowed to 3.0% in 2013, the slowest growth since the 0.4% contraction in 2009. Canadian real GDP growth slowed to 1.7% in 2012 and expanded by 1.6% on a year-to-date basis through the third quarter of 2013. This follows 3.4% and 2.5% growth in 2010 and 2011, respectively.

Despite the challenges in the external environment, the Manitoba economy remains stable. Industrial diversity and a balance between exports sales and domestic demand continues to provide moderate and steady economic growth.

The Manitoba Finance survey of economic forecasters estimates that the province’s real GDP expanded by 2.0% in 2013. The economy was supported by an increase in business investments in residential and non-residential construction and an increase in consumer spending.

Overall, among industries, the recovery in crop production in 2012 and a record harvest last summer contributed to a rebound in exports in 2013. Conversely, a decline in manufacturing sales dampened economic performance.

Looking ahead, the Manitoba Finance survey indicates that Manitoba`s real GDP will expand 2.2% in 2014, slightly below the

projected national increase of 2.4% and ranked fifth highest among provinces. In 2015, Manitoba’s real GDP is expected to increase by 2.4% compared to the 2.6% national increase.

The labour market is balanced in Manitoba. Growth in new jobs is being almost equally matched by the number of workers joining the labour market, thereby maintaining a relatively low unemployment rate. Last year, employment grew by 0.5% while the labour force expended by 0.6%. The unemployment rate averaged 5.4%, third lowest among provinces and below the national average of 7.1%. Since the recession Manitoba has maintained the second or third lowest unemployment rate among provinces. Employment in 2013 was primarily driven by the private sector, with jobs increasing by 6,400 or 1.5%. Public sector employment decreased by 2.1% in 2013.

In line with employment growth, compensation of employees (labour income) expanded at a modest pace in 2013. On a year-to-date basis through September 2013, labour income in Manitoba increased by 3.3%, fifth among provinces and below the 3.8% national increase.

Consumer prices in Manitoba increased by 2.2% in 2013, the highest among provinces and above Canada at 0.9%. Tobacco and alcohol, energy, shelter, food, and household operations boosted overall consumer prices, while health and personal care, recreation, clothing and footwear, and transportation costs eased pressure on prices. For 2014, Manitoba Finance’s survey of economic forecasters indicates the CPI will slow to 1.9%.

Population growth is a key factor in supporting domestic demand in the province. Over the last five years, population increased by 1.1% annually, the best five-year average annual growth since 1971. Over the last three

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PROVINCE OF MANITOBA APRIL TO DECEMBER 2013  

years, Manitoba’s annual growth in population surpassed the national increase. Total population in Manitoba is estimated at 1,268,915 (October 2013), an annual increase of 14,670 persons.

Reflecting a steady interest rate environment, stable economy and strong population growth, Manitoba’s housing sector has been among the strongest in Canada. As compared to a decline of 6.0% nationally, single-detached housing starts were up 9.6% over 2012. Meanwhile, total housing starts were up 3.1% versus a 12.5% reduction in the Canadian housing market. Province-wide, more than 7,400 starts were recorded, the highest number since 1987.

The value of building permits advanced 4.1% in the first 11 months of 2013. This was the second best performance among provinces and followed a 34.9% increase in 2012. Non-residential construction permits advanced 2.1% in 2013. Residential building permits increased by 5.5%.

Manitoba’s economy continues to benefit from a sharp increase in capital spending on residential and non-residential projects. Over the last five years, Statistics Canada estimates that investments increased 33% in Manitoba, the third-highest increase among provinces and more than double the 14% national increase.

Through the first 11 months of 2013, retail sales increased by 2.3% over the same period in 2012, in line with Canada’s 2.6% growth. Manitoba’s retail sales growth was the fourth highest among provinces and up from 1.6% annual growth in 2012. Retail activity in 2013 was led by a 14.5% increase in sales at motor vehicle and parts

dealerships and a 14.0% increase at furniture and home furnishings store sales.

Ideal weather conditions supported a bumper crop in 2013. The volume of wheat production increased 31.5%, canola gained 36.7%, corn increased 49.5%, soybeans was up 38.7%, barley added 14.1%; only oats were lower in 2013 by 1.8%. As a result, farm cash receipts from crops increased by 14.7% in the first three quarters of 2013, compared to the same period in 2012. Reflecting an excellent crop, direct payments to agricultural producers, which include insurance and various types of income supports, declined 15.3% in 2013.

Increased crop production has helped rebuild farm inventories and provided ample commodities for exports. Correspondingly, merchandise exports jumped 11.1% in 2013, following a 2.7% decline in 2012. Manitoba’s export sales were the strongest among provinces in 2013 and above the national average of 3.1%.

Soft demand for finished products dampened manufacturing activity. Manufacturing sales contracted by 0.6% in Manitoba and by 1.3% in Canada in the first eleven months of 2013 compared to the same period in 2012. Sales of wood, machinery and chemicals are leading growth while fabricated metals, electrical appliances and printing lag growth.

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 DECEMBER 2013  

2013/14 Core Government Revenue by Source	Appendix I
UNAUDITED

	Year-to-Date to December 31								Full Year
	2013/14						2012/13		2013/14						2012/13
($000s)	Actual		Estimated		Variance		Actual		Forecast		Budget		Variance		Actual
Income taxes
Individual Income Tax		2,184,001		2,180,209		3,792		2,067,699		2,969,600		2,952,400		17,200		2,846,037
Corporation Income Tax		299,101		280,603		18,498		312,246		490,100		413,200		76,900		456,447
Subtotal: Income Taxes		2,483,102		2,460,812		22,290		2,379,945		3,459,700		3,365,600		94,100		3,302,484
Other Taxes
Corporations Taxes		171,760		151,765		19,995		146,087		230,500		227,000		3,500		212,586
Fuel Taxes		250,377		254,994		(4,617)		228,726		322,100		312,100		10,000		313,615
Land Transfer Tax		74,478		68,400		6,078		63,589		86,578		74,000		12,578		74,936
Levy for Health and Education		336,525		351,534		(15,009)		311,781		428,500		433,500		(5,000)		410,284
Mining Tax		9,045		15,000		(5,955)		24,963		10,000		40,000		(30,000)		37,632
Retail Sales Tax		1,579,214		1,590,164		(10,950)		1,356,660		2,047,300		2,047,200		100		1,763,900
Tobacco Tax		220,656		234,756		(14,100)		193,250		283,000		283,000		-		252,058
Other Taxes		6,687		9,065		(2,378)		7,890		12,662		16,173		(3,511)		12,478
Subtotal: Other Taxes		2,648,742		2,675,678		(26,936)		2,332,946		3,420,640		3,432,973		(12,333)		3,077,489
Fees and Other Revenue
Fines and Costs and Other Legal		39,971		39,971		-		38,395		53,443		52,030		1,413		49,522
Minerals and Petroleum		13,831		14,745		(914)		15,145		18,397		29,074		(10,677)		19,350
Automobile and Motor Carrier Licences and Fees		111,384		108,220		3,164		120,817		140,530		140,530		-		151,007
Parks: Forestry and Other Conservation		22,106		28,378		(6,272)		27,282		37,367		33,568		3,799		32,245
Water Power Rentals		90,530		87,756		2,774		82,488		117,215		107,700		9,515		111,656
Service Fees and Other Miscellaneous Charges		79,390		69,597		9,793		69,105		242,588		165,074		77,514		151,525
Revenue Sharing from SOAs		20,298		20,298		-		19,823		25,131		16,880		8,251		26,930
Subtotal: Fees and Other Revenue		377,510		368,965		8,545		373,055		634,671		544,856		89,815		542,235
Federal Transfers
Equalization		1,351,148		1,351,148		-		1,454,295		1,799,228		1,799,228		-		1,871,962
Canada Health Transfer (CHT)		822,192		833,403		(11,211)		795,932		1,089,908		1,120,800		(30,892)		1,056,305
Canada Social Transfer (CST)		326,571		327,817		(1,246)		322,847		435,390		442,753		(7,363)		431,033
Health Funds		6,771		6,796		(25)		6,801		9,062		9,062		-		9,079
Infrastructure Renewal		-		-		-		-		22,100		22,100		-		35,271
Shared Cost and Other Transfers		73,874		76,242		(2,368)		107,600		175,227		171,403		3,824		276,600
Subtotal: Federal Transfers		2,580,556		2,595,406		(14,850)		2,687,475		3,530,915		3,565,346		(34,431)		3,680,250
Net Income of Government
Business Enterprises (GBEs)
Manitoba Liquor and Lotteries Corporation		377,000		377,000		-		410,000		554,000		615,055		(61,055)		558,151
Total Revenue		8,466,910		8,477,861		(10,951)		8,183,421		11,599,926		11,523,830		76,096		11,160,609

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PROVINCE OF MANITOBA APRIL TO DECEMBER 2013  

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

	Year-to-Date to December 31								Full Year
	2013/14						2012/13		2013/14						2012/13
($000s)	Actual		Estimated		Variance		Actual1		Forecast		Budget2		Variance		Actual
Health
Health		3,874,354		3,966,796		(92,442)		3,777,367		5,275,465		5,273,449		2,016		5,065,326
Education
Education and Advanced Learning		1,772,572		1,794,580		(22,008)		1,701,533		2,368,302		2,368,738		(436)		2,303,648
Family Services
Children and Youth Opportunities		33,538		35,384		(1,846)		33,377		47,965		48,800		(835)		43,102
Family Services		796,521		804,482		(7,961)		754,048		1,101,970		1,078,705		23,265		1,046,626
Total Family Services		830,059		839,866		(9,807)		787,425		1,149,935		1,127,505		22,430		1,089,728
Community, Economic and Resource Development
Aboriginal and Northern Affairs		24,651		24,763		(112)		24,191		33,540		34,249		(709)		34,461
Agriculture, Food and Rural Development		134,361		140,888		(6,527)		132,959		227,688		214,643		13,045		245,989
Conservation and Water Stewardship		107,884		112,423		(4,539)		119,526		149,576		149,576		-		159,306
Housing and Community Development		78,843		78,803		40		76,264		82,520		82,704		(184)		78,772
Infrastructure and Transportation		439,864		467,520		(27,656)		467,002		617,686		639,203		(21,517)		630,743
Jobs and the Economy		475,874		480,737		(4,863)		468,881		657,764		658,492		(728)		651,387
Mineral Resources		8,459		8,680		(221)		8,428		11,642		11,642		-		12,241
Municipal Government		242,861		278,627		(35,766)		223,248		400,030		400,837		(807)		361,633
Total Community, Economic and Resource Development		1,512,797		1,592,441		(79,644)		1,520,499		2,180,446		2,191,346		(10,900)		2,174,532
Justice and Other Expenditures
Legislative Assembly		28,722		30,812		(2,090)		27,022		42,040		42,560		(520)		37,682
Executive Council		3,241		2,993		248		2,889		4,073		4,073		-		3,755
Civil Service Commission		15,231		15,898		(667)		14,932		20,200		20,200		-		20,155
Employee Pensions and Other Costs		(4,946)		(5,213)		267		(4,065)		15,017		18,288		(3,271)		11,442
Finance		48,497		50,789		(2,292)		41,914		70,612		71,289		(677)		72,321
Justice		359,396		366,981		(7,585)		334,951		531,720		510,447		21,273		497,018
Labour and Immigration		24,373		26,637		(2,264)		38,894		34,213		35,121		(908)		58,921
Multiculturalism and Literacy		17,289		17,133		156		16,913		21,323		21,323		-		23,970
Tourism, Culture, Heritage, Sport and Consumer Protection		68,338		67,446		892		66,820		85,870		86,532		(662)		84,252
Enabling Appropriations		2,905		3,383		(478)		2,217		6,125		37,119		(30,994)		3,058
Other Appropriations		42,845		26,886		15,959		39,123		99,556		60,893		38,663		170,487
Total Justice and Other Expenditures		605,891		603,745		2,146		581,610		930,749		907,845		22,904		983,061
Debt Servicing Costs		148,379		140,312		8,067		165,983		225,000		230,000		(5,000)		233,511
Total Expenditure		8,744,052		8,937,740		(193,688)		8,534,417		12,129,897		12,098,883		31,014		11,849,806
Subtract: Total Revenue Estimate (Appendix I)		8,466,910		8,477,861		(10,951)		8,183,421		11,599,926		11,523,830		76,096		11,160,609
In-Year Adjustment/Lapse		-		-		-		-		(17,000)		(70,000)		53,000		-
Net Result for the Year		(277,142)		(459,879)		182,737		(350,996)		(512,971)		(505,053)		(7,918)		(689,197)
Transfer from Fiscal Stabilization Account																12,045
EXTRAORDINARY EXPENSE
First Nations Flood Contingency		-		-		-		-		(100,000)		-		(100,000)		-
NET INCOME (LOSS)		(277,142)		(459,879)		182,737		(350,996)		(612,971)		(505,053)		(107,918)		(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 DECEMBER 2013  

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

	Year-to-Date to December 31								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		47,937		50,884		(2,947)		65,333		70,000		112,000		(42,000)		87,699
Transportation Equipment and Aircraft		5,451		5,729		(278)		24,475		16,016		16,920		(904)		34,176
Information Technology Projects		10,388		11,400		(1,012)		4,826		15,486		23,494		(8,008)		13,064
Other Equipment and Buildings		10,260		10,436		(176)		16,971		23,189		19,832		3,357		26,143
		74,036		78,449		(4,413)		111,605		124,691		172,246		(47,555)		161,082
Infrastructure Assets
Provincial Roads, Highways and Airport Infrastructure		266,234		260,924		5,310		265,506		396,659		470,510		(73,851)		285,822
Water Related Infrastructure		16,602		21,352		(4,750)		22,419		29,266		37,100		(7,834)		102,432
Parks, Cottage and Camping Projects		6,716		9,548		(2,832)		10,551		11,748		15,839		(4,091)		18,497
		289,552		291,824		(2,272)		298,476		437,673		523,449		(85,776)		406,751
Total Capital Investment		363,588		370,273		(6,685)		410,081		562,364		695,695		(133,331)		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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