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

Exhibit 99.1

STEADY GROWTH

GOOD JOBS          

April to September 2015

CONTENTS

Introduction

Quarterly Financial Results

Economic Performance and Outlook

INTRODUCTION

Budget 2015 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, 2015 as well as a projection for the year end. The report also contains an economic performance and outlook.

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  PROVINCE OF MANITOBA     APRIL TO SEPTEMBER 2015    

GOVERNMENT REPORTING ENTITY (GRE)

Manitoba remains committed to a balanced approach for delivering services while recognizing that global economic conditions remain uncertain. This approach is demonstrated by the protection of the services Manitoba families count on and by making strategic investments in core infrastructure to support economic growth and the creation of new training and job opportunities.

The summary forecast for fiscal year 2015/16 is a net loss of $550 million, a negative variance of $128 million from the net loss of $422 million included in Budget 2015.

Core revenues are $103 million higher than budget primarily as a result of the projected recovery of 2014 flood related expenditures from Canada.

Core expenditures are projected to be $132 million over budget mainly as a result of forest fire suppression, health care and supports for children and vulnerable persons.

At the end of the second quarter, projections for the consolidation impacts and Other Reporting Entities (ORE) indicate a projected net loss of $65 million, a negative variance of $64 million from budget, primarily as a result of lower projected incomes from the Government Business Enterprises.

Funding pressures will be closely monitored as government continues to carefully review expenditures to reduce costs where possible without jeopardizing services to Manitobans.

Budgeted Summary Net Income/(Loss)

For the Fiscal Year Ending March 31, 2016

UNAUDITED

	2015/16 Projection						2015/16 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		12,457		2,592		15,049		12,354		2,609		14,963		86
Expenditure		12,997		2,677		15,674		12,865		2,670		15,535		139
In-Year Adjustment/Lapse		(35)		(40)		(75)		(70)		(80)		(150)		75
NET RESULT FOR THE YEAR		(505)		(45)		(550)		(441)		19		(422)		(128)
Transfer from Fiscal Stabilization Account		20		(20)		-		20		(20)		-		-
NET INCOME (LOSS)		(485)		(65)		(550)		(421)		(1)		(422)		(128)

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  PROVINCE OF MANITOBA     APRIL TO SEPTEMBER 2015  

QUARTERLY FINANCIAL RESULTS

The unaudited net result of the GRE for the first six months of the fiscal year is a net income of $458 million.

The six-month positive revenue variance of $38 million is primarily due to higher than estimated revenues and consolidation impacts in the ORE.

The expenditure variance of $28 million is primarily the result of timing.

Government Reporting Entity Operating Statement

UNAUDITED

	Year-to-Date to September 30
	2015/16						2014/15
($000s)	Actual		Estimated		Variance		Actual1
Revenue
Income Taxes		1,957,325		1,950,373		6,952		1,842,309
Other Taxes		2,313,957		2,324,328		(10,371)		2,240,629
Fees and Other Revenue		1,087,809		1,073,218		14,591		1,089,746
Federal Transfers		1,960,704		1,967,585		(6,881)		1,927,992
Net Income of Government Business Enterprises		331,127		311,149		19,978		348,126
Sinking Funds and Other Earnings		125,161		111,396		13,765		119,507
Total Revenue		7,776,083		7,738,049		38,034		7,568,309
Expenditure
Health, Healthy Living and Seniors		3,050,286		3,033,957		16,329		2,899,386
Education and Advanced Learning		1,853,646		1,844,046		9,600		1,773,297
Family Services		562,626		557,684		4,942		514,998
Community, Economic and Resource Development		958,722		947,530		11,192		914,202
Justice and Other Expenditures		536,301		551,860		(15,559)		590,987
Debt Servicing Costs		356,715		355,640		1,075		375,616
Total Expenditure		7,318,296		7,290,717		27,579		7,068,486
NET INCOME (LOSS)		457,787		447,332		10,455		499,823

1. For comparison purposes, the 2014/15 Actual has been re-stated to reflect the 2015/16 appropriation structure.

Core government revenue and expenditure details are provided in Appendix I and II on pages 9 and 10 and information on core government capital investment can be found in Appendix III on page 11.

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  PROVINCE OF MANITOBA     APRIL TO SEPTEMBER 2015  

INFRASTRUCTURE INVESTMENT

The government continued the commitment to infrastructure by introducing a five-year, $5.5 billion core infrastructure plan in Budget 2014 to focus investments on roads, highways and bridges, flood protection and municipal infrastructure such as roads and clean water.

To meet these important infrastructure needs, the government has committed that it will invest more than the revenue raised from the additional point of PST introduced in 2013 into new investments in core infrastructure, over and above the existing base levels. In 2012/13, prior to the increase in the PST, the base level of investment in core infrastructure totaled $729 million.

Core infrastructure investment was budgeted to reach $1,080 million in 2015/16. The 2015/16 second quarter projection is on track to meet this budgeted level of investment.

The total federal contributions towards core infrastructure are projected to be $20 million more than expected as a result of flood related revenues.

Government has committed to address under-investments in any year of the plan, as well as the 2013/14 fiscal year, by increasing investment in future years to meet the full infrastructure commitment. As such, the core infrastructure plan will be reviewed and rebased each year to recognize any variances in the PST revenues and investments.

Five-Year Core Infrastructure Plan

Year Two

	Full Year
	2015/16						2014/15
(Millions of Dollars)	Forecast		Budget		Variance		Actual
Base Funding Level		729		729		-		729
1 point PST commitment		286		286		-		275
Investment Commitment		1,015		1,015		-		1,004
Roads, Highways and Bridges		747		747		-		695
Flood Protection		48		48		-		64
Municipal Infrastructure*		285		285		-		277
Total Investment Year-One		1,080		1,080		-		1,036
Less: Federal Revenue		(55)		(35)		(20)		(5)
Net Investment Year-Two		1,025		1,045		(20)		1,031

*Building Manitoba Fund net of transit operating grants

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  PROVINCE OF MANITOBA     APRIL TO SEPTEMBER 2015  

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 the Fiscal Stabilization 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 2015/16, $85 million will be withdrawn for debt repayment and an additional $20 million will be withdrawn for principal 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 2015/16 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).

PROVINCIAL BORROWINGS,

GUARANTEES AND OBLIGATIONS

Manitoba’s borrowing requirement identified in Budget 2015 was $4.7 billion including refinancing of $2.0 billion and new cash requirements, net of estimated repayments, of $2.7 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 the second quarter, Manitoba’s borrowing requirement has been revised to $4.8 billion. The revision is primarily due to increased requirements for general purpose borrowings.

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.

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 core infrastructure and other capital assets – like 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 and other projects, Budget 2015 projected the net debt to GDP ratio at 30.9%. Net debt to GDP is currently forecast to be 31.6%.

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  PROVINCE OF MANITOBA     APRIL TO SEPTEMBER 2015  

Provincial Borrowings, Guarantees and Obligations

	2015/16 Forecast				March 31, 2015
Provincial Borrowings, Guarantees and Obligations1	$ millions		$ Per Capita3		$ millions		$ Per Capita3
General Government Programs		10,018		7,746		9,460		7,389
General Government Programs - Pension Liability		2,695		2,084		2,595		2,027
The Manitoba Hydro-Electric Board		14,301		11,057		12,540		9,794
Other Crown Organizations		3,035		2,347		2,827		2,208
Health Facilities		1,535		1,187		1,338		1,045
Other		5		4		5		4
Capital Investments		4,965		3,839		4,724		3,690
Subtotal2		36,554		28,264		33,489		26,157
Other Obligations
Pension Liability		8,419				7,947
Pension Assets		(6,080)				(5,703)
Net Pension Liability		2,339				2,244
Debt incurred for and repayable by The Manitoba Hydro-Electric Board		(14,193)				(12,371)
Education and Health Debt held by Government Enterprises		620				620
Other Debt of Crown Organizations		281				279
Subtotal		(10,953)				(9,228)
Total Provincial Borrowings, Guarantees and Obligations		25,601				24,261
Adjustments to arrive at Summary Net Debt
Guarantees		(110)				(172)
Adjustment Due to the Adoption of IFRS by The Manitoba Hydro-Electric Board		(502)				-
Net Financial Assets		(4,031)				(5,127)
Summary Net Debt		20,958		16,204		18,962		14,812
Summary Net Debt as a percentage of GDP		31.6%				29.8%

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, 2015, total provincial borrowings and guarantees are payable 95% in Canadian dollars and 5% in U.S. dollars. Of this total, General Government Program borrowing and Other Crown organizations borrowings are 100% payable in Canadian dollars. Manitoba Hydro borrowings are payable 86% in Canadian dollars (86% at March 31, 2015) and 14% in U.S. dollars (14% at March 31, 2015).

3. The per capita data is based upon forecast population figures July 1.

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  PROVINCE OF MANITOBA     APRIL TO SEPTEMBER 2015  

ECONOMIC PERFORMANCE AND OUTLOOK

Sustained low oil prices, slower economic growth in North America through the first half of 2015, and continued deceleration of growth in emerging and developing markets have lowered expectations for a solid global economic recovery. This is reflected in several downgrades to the global outlook.

According to the International Monetary Fund (IMF), weak aggregate demand, low commodity prices and persistent high unemployment in some countries are additional factors that are lowering the global real GDP growth forecast to 3.1% in 2015, from 3.8% projected in October 2014. For 2016, growth is lowered to 3.6% from 3.8%.

Likewise, the forecasts for Canada and Manitoba are revised. The Manitoba Finance Survey of Economic Forecasts shows Canadian real GDP growth slowing to 1.2% in 2015 compared to 2.1% forecast in April 2015 and down from 2.5% in 2014.

Manitoba’s outlook revision is smaller, with real GDP growth now expected at 2.0% in 2015, down from 2.5% reported in Budget 2015. The expectation for 2016 growth is unchanged for Manitoba at 2.3% and lowered by 0.2% for Canada to 2.0%.

The transition from growth based on exports to growth based on domestic demand is slowing overall Chinese economic growth to an expected 6.8% in 2015 and 6.3% in 2016 compared to 7.3% in 2014.

Supported by lower energy prices, monetary easing and currency depreciation, real GDP growth is expected to improve in the euro area to 1.5% in 2015 and 1.6% in 2016 compared to 0.9% in 2014.

The U.S. economy continues to improve through generating an average of over 200,000 jobs per month since 2010. Their unemployment fell to 5.0% in October 2015, the lowest since April 2008. This has strengthened household balance sheets and

provided a lift to U.S. housing and business investments. This momentum has made the U.S. an economic growth leader among the G7 nations in both 2015 and 2016. The IMF has forecast U.S. real GDP growth of 2.6% in 2015 and 2.8% in 2016.

With Canada being among the largest global oil producers, the oil price collapse significantly impacted national energy related production and investments (conventional oil and gas extraction, support services in mining, oil and gas, and engineering construction activities). Output in this sector fell by over 15% since June 2014. There were also a considerable number of jobs lost in the energy and construction sector since December 2015.

The slowdown in energy production led to a contraction in the Canadian economy in the first half of 2015, the first decline in growth since the Great Recession.

Real GDP growth did rebound in the third quarter of 2015 with exports and services buoyed by currency devaluation and improving demand. These gains combined with low-interest rates, a stronger U.S. economy and the expectation of the Canadian dollar remaining near $0.75 U.S., are expected to support modest growth in 2016.

During this period of global economic uncertainty, which is elevated by oil and other commodity price volatility, Manitoba’s overall growth remains stable and is progressing at a steady pace. In 2014, Manitoba’s real GDP increased by 2.1%, following 2.7% growth in both of the two previous years.

Manitoba’s successive effort to boost population has generated six consecutive years of population growth above 1.0% and five consecutive years of growth above Canada’s. In 2015, Manitoba’s population growth is the second highest among provinces.

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  PROVINCE OF MANITOBA     APRIL TO SEPTEMBER 2015  

Manitoba’s labour market has been strong since the spring of 2014. In 2015, total employment increased by 1.7% on a year-to-date basis, the strongest among provinces and the strongest in 13 years. Manitoba’s unemployment rate is averaging 5.5%, the second lowest among provinces.

Compensation of employees (labour income) increased by 2.7% through the first three quarters of the year, fourth highest among provinces and slightly higher than the 2.6% growth in Canada. The gains in 2015 are broad-based among industrial sectors.

Manitoba’s retail sales growth has been above the national average in 8 of the last 11 years. Reflecting low-interest rates, strong population growth and low unemployment, sales at motor vehicle and parts dealers and furniture and home furnishings stores have been particularly strong over the last five years. Manitobans continue to boost retail sales in 2015, but the sharp drop in fuel prices has lowered the average annual growth to 0.7% on a year-to-date basis.

Real investment spending on non-residential construction increased by 5.2% through the first three quarters of 2015, compared to the same period last year. This is the second-highest growth among provinces and compares to a 0.1% decline in Canada. Real investment in commercial properties, which accounts for over 55% of total spending, increased by 11.5%, while real investment in institutional and governmental properties increased by 12.5%.

The continual strength in new housing activity in Manitoba is driven by progressive increases in immigration and the echo-boom cohort entering the housing market. As immigration levels stabilize, the housing market is settling from a near record-setting pace in 2012 and 2013. According to Canada Mortgage and Housing Corporation, the province can expect 5,600 new housing units in 2015 and 5,700 units in 2016

Manufacturing is the largest industrial sector in Manitoba, producing a diversified range of consumer and industrial goods. The sector continues to benefit from sales to the U.S. with transportation equipment (18.3%), chemical products (13.4%) and furniture (12.7%) continuing to accelerate in 2015. With weak demand for agricultural, mining and industrial machinery (-16.9%) and fabricated metal products (-8.9%), overall manufacturing sales decreased by 2.1% on a year-to-date basis in 2015.

A continued improvement in demand from the U.S. is anticipated in 2016 as the Canadian currency depreciation is expected to attract more manufacturing sales from Manitoba.

Given weaker demand from emerging and developing markets and reduced local production of oil and agricultural commodities, international merchandise exports slowed to 2.1% growth on a year-to-date basis in 2015 compared to 6.9% in 2014 and 10.4% in 2013. Exports to the U.S. increased by 5.5% through October 2015, but exports to non-U.S. markets decreased by 4.9%.

According to Export Development Canada, Manitoba exports are expected to increase by 6.0% in 2015 with growing U.S. demand for metals, ores and other industrial products as well as industrial machinery and equipment.

The latest Manitoba Finance Survey of Economic Forecasts indicates 2.0% growth in 2015 improving to 2.3% growth in 2016.

Nominal GDP is projected to increase by 3.2% in 2015, compared to 0.8% expected in Canada. In 2016, nominal GDP is expected to increase by 4.0%.

See more at: http://www.gov.mb.ca/finance

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  PROVINCE OF MANITOBA     APRIL TO SEPTEMBER 2015  

2015/16 Core Government Revenue by Source	Appendix I
UNAUDITED

	Year-to-Date to September 30								Full Year
	2015/16						2014/15		2015/16						2014/15
($000s)	Actual		Estimated		Variance		Actual		Forecast		Budget		Variance		Actual
Income Taxes
Individual Income Tax		1,603,837		1,602,065		1,772		1,530,766		3,261,845		3,261,845		-		3,116,666
Corporation Income Tax		353,488		348,308		5,180		311,543		590,102		590,102		-		561,669
Subtotal: Income Taxes		1,957,325		1,950,373		6,952		1,842,309		3,851,947		3,851,947		-		3,678,335
Other Taxes
Corporations Taxes		118,094		132,089		(13,995)		118,094		255,495		279,345		(23,850)		224,511
Fuel Taxes		161,939		164,810		(2,871)		161,736		335,460		335,460		-		317,363
Land Transfer Tax		46,723		50,403		(3,680)		49,596		90,000		90,000		-		84,815
Levy for Health and Education		220,598		222,659		(2,061)		215,510		466,818		466,818		-		439,231
Retail Sales Tax		1,144,547		1,148,796		(4,249)		1,103,634		2,289,781		2,289,781		-		2,201,955
Tobacco Tax		139,540		137,108		2,432		140,571		252,283		252,283		-		256,022
Other Taxes		5,172		5,292		(120)		6,003		13,063		17,854		(4,791)		13,239
Subtotal: Other Taxes		1,836,613		1,861,157		(24,544)		1,795,144		3,702,900		3,731,541		(28,641)		3,537,136
Fees and Other Revenue
Fines and Costs and Other Legal		29,335		27,733		1,602		27,324		55,820		52,090		3,730		53,774
Minerals and Petroleum		7,684		8,209		(525)		8,462		15,180		18,086		(2,906)		16,549
Automobile and Motor Carrier Licences and Fees		82,381		80,482		1,899		80,030		150,500		150,500		-		156,916
Parks: Forestry and Other Conservation		5,779		15,096		(9,317)		16,933		35,243		35,393		(150)		34,704
Water Power Rentals		58,180		59,681		(1,501)		59,510		119,026		119,026		-		116,913
Service Fees and Other Miscellaneous Charges		43,744		51,646		(7,902)		49,470		203,876		204,192		(316)		160,327
Revenue Sharing from SOAs		8,975		9,024		(49)		9,675		18,070		18,070		-		28,800
Subtotal: Fees and Other Revenue		236,078		251,871		(15,793)		251,404		597,715		597,357		358		567,983
Federal Transfers
Equalization		868,976		868,976		-		874,975		1,738,000		1,738,000		-		1,749,949
Canada Health Transfer (CHT)		614,910		614,910		-		578,163		1,229,800		1,229,800		-		1,167,188
Canada Social Transfer (CST)		234,194		234,194		-		226,613		468,400		468,400		-		453,908
Infrastructure Renewal		-		-		-		-		-		-		-		3,668
Shared Cost and Other Transfers		53,374		49,224		4,150		49,279		286,554		155,890		130,664		121,879
Subtotal: Federal Transfers		1,771,454		1,767,304		4,150		1,729,030		3,722,754		3,592,090		130,664		3,496,592
Net Income of Government Business Enterprises (GBEs)
Manitoba Liquor and Lotteries Corporation		309,500		294,100		15,400		228,000		581,500		581,500		-		595,978
Total Revenue		6,110,970		6,124,805		(13,835)		5,845,887		12,456,816		12,354,435		102,381		11,876,024

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  PROVINCE OF MANITOBA     APRIL TO SEPTEMBER 2015  

2015/16 Core Government Expenditure by Sector/Department	Appendix II
UNAUDITED

	Year-to-Date to September 30								Full Year
	2015/16						2014/15		2015/16						2014/15
($000s)	Actual		Estimated		Variance		Actual1		Forecast		Budget2		Variance		Actual
Health
Health, Healthy Living and Seniors		2,820,767		2,827,234		(6,467)		2,701,348		5,724,365		5,653,292		71,073		5,424,262
Education
Education and Advanced Learning		1,260,232		1,253,883		6,349		1,198,524		2,504,949		2,505,431		(482)		2,417,940
Family Services
Children and Youth Opportunities		26,543		21,645		4,898		19,478		50,602		50,627		(25)		48,023
Family Services		567,608		566,828		780		523,893		1,192,127		1,164,262		27,865		1,131,154
Total Family Services		594,151		588,473		5,678		543,371		1,242,729		1,214,889		27,840		1,179,177
Community, Economic and Resource Development
Aboriginal and Northern Affairs		19,261		20,200		(939)		18,995		33,901		33,901		-		33,228
Agriculture, Food and Rural Development		36,692		37,532		(840)		43,003		207,344		208,432		(1,088)		213,723
Conservation and Water Stewardship		73,997		75,766		(1,769)		77,248		139,938		139,653		285		170,484
Housing and Community Development		52,803		53,037		(234)		47,132		89,137		88,984		153		78,711
Infrastructure and Transportation		284,627		286,885		(2,258)		277,278		607,162		607,162		-		556,520
Jobs and the Economy		316,576		324,692		(8,116)		301,566		670,717		663,261		7,456		631,362
Mineral Resources		5,375		5,565		(190)		5,542		10,660		10,537		123		16,365
Municipal Government		127,712		135,193		(7,481)		135,472		434,032		433,833		199		420,968
Total Community, Economic and Resource Development		917,043		938,870		(21,827)		906,236		2,192,891		2,185,763		7,128		2,121,361
Justice and Other Expenditures
Legislative Assembly		19,640		20,585		(945)		19,601		51,415		52,021		(606)		40,342
Executive Council		2,836		2,687		149		2,255		4,513		4,513		-		4,122
Civil Service Commission		8,767		8,977		(210)		9,434		18,369		18,369		-		18,364
Employee Pensions and Other Costs		(1,563)		(1,370)		(193)		(1,805)		14,161		14,161		-		15,440
Finance		125,922		125,338		584		125,565		267,893		263,687		4,206		260,327
Justice		225,438		226,408		(970)		218,582		544,298		541,320		2,978		526,005
Labour and Immigration		11,536		12,115		(579)		11,894		26,334		27,204		(870)		25,974
Multiculturalism and Literacy		14,680		16,783		(2,103)		14,662		21,862		21,872		(10)		21,051
Tourism, Culture, Heritage, Sport and Consumer Protection		48,641		47,680		961		46,541		82,456		82,617		(161)		80,953
Enabling Appropriations		-		-		-		-		16,522		16,522		-		3,399
Other Appropriations		29,309		34,151		(4,842)		46,380		69,727		43,484		26,243		172,603
Total Justice and Other Expenditures		485,206		493,354		(8,148)		493,109		1,117,550		1,085,770		31,780		1,168,580
Debt Servicing Costs		46,150		44,583		1,567		60,815		215,000		220,000		(5,000)		199,931
Total Expenditure		6,123,549		6,146,397		(22,848)		5,903,403		12,997,484		12,865,145		132,339		12,511,251
Subtract: Total Revenue Estimate (Appendix I)		6,110,970		6,124,805		(13,835)		5,845,887		12,456,816		12,354,435		102,381		11,876,024
In-Year Adjustment/Lapse		-		-		-		-		(35,000)		(70,000)		35,000		-
Net Result for the Year		(12,579)		(21,592)		9,013		(57,516)		(505,668)		(440,710)		(64,958)		(635,227)
Transfer from Fiscal Stabilization Account
- Principal Repayments		-		-		-		-		20,000		20,000		-		-
NET INCOME (LOSS)		(12,579)		(21,592)		9,013		(57,516)		(485,668)		(420,710)		(64,958)		(635,227)

1. For comparative purposes, the 2014/15 Actual has been re-stated to reflect the 2015/16 appropriation structure.

2. Budget figures are adjusted to include Enabling Appropriations.

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  PROVINCE OF MANITOBA     APRIL TO SEPTEMBER 2015  

2015/16 Core Government Part B Capital Investment	Appendix III
UNAUDITED

	Year-to-Date to September 30								Full Year
	2015/16						2014/15		2015/16						2014/15
($000s)	Actual		Estimated		Variance		Actual		Forecast		Budget1		Variance		Actual
Agriculture, Food and Rural Development		-		50		(50)		66		250		250		-		689
Conservation and Water Stewardship		2,517		4,606		(2,089)		7,179		17,143		23,523		(6,380)		28,086
Education and Advanced Learning		-		-		-		-		100		100		-		-
Family Services		250		843		(593)		43		1,815		1,815		-		723
Finance		31,984		29,506		2,478		24,800		64,367		64,367		-		62,928
Health, Healthy Living and Seniors		(3)		150		(153)		34		664		664		-		928
Infrastructure and Transportation		324,382		319,066		5,316		257,709		647,159		647,159		-		604,888
Justice		353		1,783		(1,430)		152		3,694		3,694		-		1,552
Mineral Resources		-		-		-		-		-		-		-		149
Tourism, Culture, Heritage, Sport and Consumer Protection		-		-		-		-		110		110		-		-
Internal Service Adjustments		-		-		-		-		9,019		9,019		-		-
Total Capital Investment		359,483		356,004		3,479		289,983		744,321		750,701		(6,380)		699,943

1. Budget figures are adjusted to include Internal Service Adjustments (an Enabling Appropriation).

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