The Reminder is making its archives back to 2003 available on our website. Please note that, due to technical limitations, archive articles are presented without the usual formatting.
Finance Minister Greg Selinger has released the province's financial report for the first quarter of the 2004-05 fiscal year. The report for the first three months of the fiscal year shows expenditures and revenues in line with those estimated in the budget. The first quarter net expenditure of $259.9 million was $14.4 million less than the projection of $274.3 million. The variance is attributed primarily to the timing of expenditures and receipts. The 2004 budget projected a $3 million positive balance for 2004-05. At the end of the first quarter, this projection remains unchanged. "I am pleased that revenues and expenditures are tracking closely with estimates and we will continue to manage in a prudent and balanced manner in order to achieve our fifth consecutive balanced budget," Selinger said. "However, the lasting effects of BSE and this summer's cool, wet weather continue to impact the province's revenues." The 2004 budget provides a further $96 million to be applied against general purpose debt and pension liabilities. Selinger noted that Manitoba's net general purpose debt to GDP ratio is projected to be 15.8 per cent in 2004-05, down from 16.4 per cent in 2003-04 and from 20.3 per cent in 1999-2000
