Ministry 2003/04 Annual Service Plan Report - Government of British Columbia.
   

2003/04 Resource Summary — BC Transportation Financing Authority

  Total Estimated Actual Variance
Revenues ($000)
Dedicated Revenue1 418,300 415,598 2,702
Capital Contributions (amortization)2 174,808 176,313 (1,505)
Other Revenue3 4,120 9,527 (5,407)
Total 597,228 601,438 (4,210)
Expenditures ($000)
Amortization 287,528 284,654 2,874
Financing Expense4 160,479 133,743 26,736
Northern and Heartlands Roads5 35,000 10,339 24,661
Operations and Administration 3,820 3,660 160
Grant Programs6 18,400 11,834 6,566
Transportation Planning7 — 31,763 (31,763)
Total 505,227 475,993 29,234
Net Income (Loss) ($000)
Net Earnings (Loss) 92,001 125,445 33,444
Consolidated Capital Plan Expenditures ($000)
Capital Expenditures (Net)8 357,800 406,845 (49,045)
1  Dedicated revenue includes 6.75 cents per litre motor fuel tax and a provincial sales tax on short-term car rental of $1.50 per day.
2  Contributions toward capital assets are deferred and amortized to income at the same rate as the related highway infrastructure is amortized to expense.
3  Other revenue includes property and economic development revenues, net of related expenses. Sierra Yoyo Desan Road expenditures of $2.563 million have been netted against SYD Road revenue received.
4  Interest on borrowing used to finance construction work in progress is capitalized. Upon completion, interest capitalization ceases, and related interest costs are expensed.
5  Improvements to Northern and Heartlands roads are included in capital expenditures; repairs to Northern and Heartlands roads are expensed. Total Northern and Heartlands roads program is $75 million annually.
6  Grant programs include grants paid under the infrastructure works program, the newly incorporated territories program, the transportation partnership program for airports and ports, and other projects.
7  Transportation Planning includes pre-concession costs expensed for potential P3 initiatives.
8  Capital spending is shown net of federal funding for various projects in the capital plan.

Complete BC Transportation Financing Authority Financial Statements are available in Appendix 2.

 

  
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