Highlights of the 2013-2014 Alberta Budget!
On Mar 13, 2013 No Comments Tags: business planning, cash flow statementHere are the highlights of Alberta’s 2013/14 Budget! Revenues are estimated at $38.6 billion, $36.4 billion in expenses (0% increase) with a $2.2 billion deficit. Last year, the government was projecting a surplus of $1 billion and $49 billion in revenues in 3 or 4 years with a surplus of $5 billion with surpluses to be added to the Sustainability Fund.
The 3rd quarter report shows revenues at $28.064 billion – $763 million lower than budgeted. Note that resource revenue was $2.431 billion lower due to a rapidly changing energy market, discounted bitumen prices by 23% (!), lower land sales, higher exchange rates and global uncertainty & impact on oil and gas prices. Note that the Disaster / Emergency Assistance program budgeted $26 million and due to severe weather insurance claims and forest fire fighting, $587 million was expended! Lastly note that Doug Horner has indicated that about $600 million has partially offset revenue expectations due to higher corporate income tax, stronger investment income, and, higher gaming and liquor sales. Also note that Ministry expenses were $447 million lower. The deficit stands at $1.98 billion – $498 million higher than expected. The 2012/2013 deficit is estimated at $3.5 – $4 billion. As of Dec 31/12 the Sustainability fund was at $3.4 billion. The Heritage Trust Fund stands at $16.5 billion with $286 million added in 2013/2014.
Here are the highlights of Alberta’s 2013/14 Budget! Revenues are estimated at $38.6 billion, $36.4 billion in expenses (0% increase) with a $2.2 billion deficit. Last year, the government was projecting a surplus of $1 billion and $49 billion in revenues in 3 or 4 years with a surplus of $5 billion with surpluses to […]
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