Archived - Department of Finance Canada
Quarterly Financial Report for the Quarter Ended September 30, 2012 (unaudited)

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TABLE OF CONTENTS

1. Introduction

2. Highlights of fiscal quarter and fiscal year-to-date (YTD) results

3. Risks and Uncertainties
4. Significant changes in relation to operations, personnel and programs
5. Budget 2012 Implementation


1. Introduction 

This quarterly financial report has been prepared by management as required by section 65.1 of the Financial Administration Act and in the form and manner prescribed by the Treasury Board Accounting Standard 1.3. This quarterly financial report should be read in conjunction with the Main Estimates, Supplementary Estimates as well as Canada’s Economic Action Plan 2012 (Budget 2012). The quarterly financial report has not been subject to an external audit or review.

The description of the program activities for the Department of Finance Canada (the ‘Department’) can be found in Part II of the Main Estimates (PDF 2.79 MB).

To access a Portable Document Format (PDF) file you must have a PDF reader installed. If you do not already have such a reader, there are numerous PDF readers available for free download or for purchase on the Internet.

1.1 Basis of Presentation 

This quarterly report has been prepared by management using an expenditure basis of accounting. The accompanying Statement of Authorities includes the Department’s spending authorities granted by Parliament and those used by the Department, consistent with the Main Estimates and Supplementary Estimates for both fiscal years. This quarterly financial report has been prepared using a special purpose financial reporting framework designed to meet financial information needs with respect to the use of spending authorities.

The authority of Parliament is required before monies can be spent by the Government. Approvals are given in the form of annually approved limits through appropriation acts or through legislation in the form of statutory spending authority for specific purposes.

As part of the Parliamentary business of supply, the Main Estimates must be tabled in Parliament on or before March 1 preceding the new fiscal year. Budget 2012 was tabled in Parliament on March 29, after the tabling of the Main Estimates on February 28, 2012. As a result the measures announced in the Budget 2012 could not be reflected in the 2012-13 Main Estimates.

In fiscal year 2012-2013, frozen allotments will be established by Treasury Board authority in departmental votes to prohibit the spending of funds already identified as savings measures in Budget 2012. In future years, the changes to departmental authorities will be implemented through the Annual Reference Level Update, as approved by Treasury Board, and reflected in the subsequent Main Estimates tabled in Parliament.

The Department uses the full accrual method of accounting to prepare and present its annual departmental financial statements that are part of the departmental performance reporting process. However, the spending authorities voted by Parliament remain on an expenditure basis.

2. Highlights of fiscal quarter and fiscal year-to-date (YTD) results

2.1 Authorities Analysis 

The Department has three major categories of expenditure authority.

These categories are:

  • Voted budgetary authorities: included in this category are the operational expenditures of the Department itself as well as authorized expenditures under grants and contribution programs. These expenditures must be specifically approved by Parliament through an appropriation act.
  • Statutory budgetary authorities: included in this category are expenditure authorities that are granted through an existing Act of Parliament. Further parliamentary approval is not required for expenditures related to statutory amounts and it is within the normal course of business that statutory expenditures may in some cases exceed planned spending estimates. Departmental statutory payments include those made under the Federal-Provincial Fiscal Arrangements Act as well as interest incurred in connection with the public debt of Canada.
  • Non-budgetary authorities: included in this category are disbursements made by the Department which do not have a direct budgetary impact to the Government. This includes the value of loans initially disbursed to Crown Corporations participating in the Crown Borrowing Framework.

This Departmental Quarterly Financial Report (QFR) reflects the results of the current fiscal period in relation to the Main Estimates and Supplementary Estimates A of 2011-12.

Total authorities

Total 2012-13 authorities available for use as at September 30, 2012 decreased by $238.4 million compared to the same period in 2011-12. The decrease is reflected in budgetary authorities. There were no changes to non-budgetary authorities. The decrease in budgetary authorities was composed of a decrease in statutory authorities ($285.7 million), offset in part by an increase in voted operating and grants and contributions authorities ($47.3 million).

Voted budgetary authorities

Total 2012-13 operating authorities available for use as at September 30, 2012 increased by $13.7 million compared to the same period in 2011-12, reflecting increases related to:

  • government advertising programs ($12.0 million);
  • review of GST Technical Issues ($2.7 million);
  • funding to support corporate information management/information technology ($1.9 million);
  • maintaining the strength of Canada’s financial system ($1.9 million);
  • implementation of the harmonized value-added tax framework ($1.6 million);
  • funding for G-20 Framework Working Group ($0.9 million);
  • support for corporate finance and asset management ($0.4 million); and
  • personal income tax initiatives ($0.2 million).

These increases were partially offset by:

  • a transfer of funding to Shared Services Canada for the provision of centralized email, data centre and network services to departments as a result of the November 15, 2011, Order-in-Council ($2.8 million);
  • time-limited funding for the Task Force for the Payments System Review, which completed its mandate of assisting the Minister in charting the future of the Canadian payments system ($2.2 million);
  • a decrease in funding for the Canada Securities Regulator for which funds were used to establish a new Division in the Department of Finance and provide the necessary expert legal resources ($1.9 million);
  • sunsetting of the Task Force on Financial Literacy which was funded to support the creation of an independent task force, which made recommendations on a cohesive national strategy on financial literacy ($0.7 million); and
  • litigation related to the application of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act ($0.5 million).

Available authorities for voted grants and contributions as at September 30, 2012 increased by $33.6 million compared to the same period in 2011-12. Of this amount, $59.5 million is related to changes in planned bilateral debt relief payments as well as an increase of $5 million related to the Harbourfront Centre. The above increases were offset by a decrease of $30.9 million for scheduled payments to Toronto Waterfront Revitalization Initiative in 2012-13.

Statutory budgetary authorities

Statutory authorities decreased by $285.7 million, as at September 30, 2012, compared to the same period in 2011-12.

This was in part due to an increase in the authorities for the Federal-Provincial Fiscal Arrangements Act of $1.131 billion compared to the same period in 2011-12. This increase is largely attributable to the legislative framework increases in Fiscal Equalization, the Canada Health Transfer, the Canada Social Transfer and Territorial Formula Financing ($3.287 billion); and is partially offset by decreases in:

  • the schedule of payments for transitional assistance related to the harmonized value-added tax framework ($1.880 billion);
  • Alternative Payments for Standing Programs ($275.7 million) which are forecast based on projected personal income tax data.

Effective 2012-13, the Department of Finance statutory vote for Public Debt–Interest and Other Costs is presented as two distinct categories, Interest on Unmatured Debt and Other Interest Costs. Interest on Unmatured Debt represents the interest resulting from certificates of indebtedness issued by the Government of Canada that have not yet become due. Other Interest Costs represents the interest related to superannuation accounts, deposit and trust accounts and other specified purpose accounts. The purpose of this change was to more clearly distinguish the significant components of interest costs.

Interest on Unmatured Debt, for the period ended September 30, 2012, decreased by $1.0 billion compared to the same period in 2011-12. The decrease is due to the revision of forecasted interest rates by private sector economists, consistent with the 2011 Update of Economic and Fiscal Projections. Other Interest Costs decreased by $386 million. The decrease primarily reflects the forecasted decrease in the average long-term bond rate, which is used to calculate interest on the superannuation accounts pertaining to pre-April 1, 2000 service.

The remaining statutory authorities (as at September 30, 2012) decreased by $27.8 million compared to the same period in 2011-12 largely due to decreases in a number of areas. There was a decrease related to the establishment of the Common Securities Regulator ($161 million). Budget 2009 provided up to $150 million for compensating provinces and territories for matters relating to the transition to a common securities regulator. The $150 million payment was forecast in 2011-12; however, no payment was made. The remaining decrease of $11 million relates to payments to the Canadian Securities Regulation Regime Transition Office, with the last payment being made in 2011. The Minister of Finance, under section 14 of the Canadian Securities Regulation Regime Transition Office Act, is authorized to make direct payments to the Canadian Securities Transition Office for its use in fulfilling its three-year mandate commencing on July 13, 2009 in an amount not to exceed $33 million or any amount that may be specified in an appropriation act. In this regard, three equal $11 million tranches were planned over the course of its mandate, which has since been extended to July 2013. Actual funding transferred to the Transition Office was within the $33 million budget and reflected its planned yearly activities. There was also a decrease of $60.5 million for the Youth Allowances Recovery.

In addition, there was a $10 million decrease in the statutory budgetary authorities for the Purchase of Domestic Coinage to primarily reflect expected lower production costs associated with the introduction of plated $1 and $2 coins that had been referenced in Budget 2011.

The above decreases were partially offset by an increase under the Nova Scotia and Newfoundland and Labrador Additional Fiscal Equalization Offset Payments Act ($146 million) and payments to the International Development Association ($57.4 million).

Non-Budgetary Authorities

Non-budgetary authorities related to the value of loans disbursed to Crown Corporations participating in the Crown Borrowing Framework are not reflected in the Estimates. The gross borrowing requirements for Crown corporations are driven by the need to match the term and structure of the borrowing requirements of corporations’ clients. These activities are influenced by current and expectations of future, economic conditions and can vary greatly over a short period of time. For example, if clients of the Crown Corporation are seeking short-term, floating rate loans, the Crown Corporation will seek to match that with short-term borrowings from the government. This will result in the loan being refinanced several times through the year, with higher gross borrowings associated with a smaller net borrowing amount. This can change very quickly should market conditions suggest interest rates are going to rise and their clients seek to lock in their borrowing costs through longer term borrowings. As such, there can be very large and significant variances both inter-year and intra-year. Given the risk of significant forecast errors and that the gross advances to Crown corporations are a non-budgetary item and do not impact on the net-debt of the government, the Department only reports on actual borrowings by the Crown corporations.

The authorities related to the Bretton Woods and Related Agreements Act for the purchase of shares of the International Bank for Reconstruction and Development in 2011-12 became the authorities for the statutory vote Payments to International Bank for Reconstruction and Development in 2012-13. The decrease of this authority from 2011-12 is being offset by the same increase of the new statutory vote in 2012-13.

2.2 Expenditure Analysis 

Total Expenditures

Total 2012-13 budgetary expenditures for the second quarter decreased by $2.081 billion compared to the same quarter in 2011-12. This was due to a decrease in statutory expenditures ($2.072 billion) as well as a decrease in voted operating expenditures and grants and contributions ($8.6 million). Non-budgetary expenditures for the second quarter 2012-13 decreased by $4.2 million compared to the same quarter in 2011-12.

Year-to-date budgetary expenditures for the period ended September 30, 2012 decreased by $1.907 billion, or 4.3%, compared to the same period in 2011-12. This decrease is in large part due to Federal-Provincial Fiscal Arrangements Act payments ($676 million), Interest on unmatured debt ($839.9 million), Other interest costs ($236.6 million) and Transitional payments to Newfoundland and Labrador pursuant to the Nova Scotia and Newfoundland and Labrador Additional Fiscal Equalization Offset Payments Act ($261.8 million).

Voted budgetary expenditures

The decrease in voted expenditures for the second quarter of 2012-13 ($8.6 million) compared to the same quarter in 2011-12 is primarily attributable to a decrease in voted operating expenditures ($5.3 million) in addition to timing of payments to the Harbourfront Centre ($3.1 million) and bilateral debt relief payments ($0.2 million) under voted grants and contributions. Operating expenditures used during the quarter represent 19% of authorities available for use compared to 27% last year.

The decrease in voted operating expenditures for the second quarter of 2012-13 ($5.3 million) compared to the same quarter in 2011-12 is mainly due to timing differences in advertising expenditures and billing from Justice Canada, time-limited funding for the Task Force on Payments Systems Review, the transfer of certain IT responsibilities to Shared Services Canada, and reduced severance payments under collective bargaining agreements.

Statutory budgetary expenditures

Total 2012-13 statutory expenditures for the second quarter decreased by $2.072 billion compared to the same quarter in 2011-12. This decrease is primarily attributable to a decrease in transfer payments pursuant to the Federal-Provincial Fiscal Arrangements Act ($1.478 billion), a decrease in interest on unmatured debt ($492.3 million) and other interest costs ($113.4 million) as well as a decrease in Transitional Payment to Newfoundland and Labrador ($137.2 million) pursuant to the Nova Scotia and Newfoundland and Labrador Additional Fiscal Equalization Offset Payments Act. These decreases were offset by losses on foreign exchange of $145.4 million.

The decrease in transfer payments under the Federal-Provincial Fiscal Arrangements Act for the second quarter of 2012-13 ($1.478 billion) compared to the same quarter in 2011-12 is primarily the result of a decrease in the schedule of payments for transitional assistance to provinces entering into the harmonized value-added tax framework ($1.880 billion), a decrease in Additional Fiscal Equalization – Total Transfer Protection ($272.4 million), and also reflects increased recoveries under the Alternative Payments for Standing Programs ($54.7 million). These decreases are offset by legislative framework increases in Fiscal Equalization, the Canada Health Transfer, the Canada Social Transfer and Territorial Formula Financing ($729.5 million).

The total decrease in interest and other costs related to public debt was $605.8 million. This was attributable to decreases in interest on unmatured debt ($492.3 million) and other interest costs ($113.4 million) for the second quarter of 2012-13 compared to the same quarter in 2011-12. The decrease in interest on unmatured debt reflects lower Consumer Price Index adjustments on real return bonds and a lower effective interest rate on the stock of unmatured debt. The decrease in other interest costs primarily reflects a decrease in the average long-term bond rate, which is used to calculate interest on the public sector pensions obligations pertaining to service pre-April 1, 2000.

The $3.3 million increase in Purchase of Domestic Coinage in the second quarter in 2012-13 compared to the same quarter last year is attributable to normal variations in the demand for coinage from businesses and consumers and in the timing of costs incurred for coinage procurement throughout the year.

Non-budgetary expenditures

Non-budgetary expenditures for the second quarter of 2012-13 decreased by $4.2 million compared to the same quarter in the prior year. This decrease is in part due to a decrease in payments to Ontario and Prince Edward Island ($151.5 million) pursuant to Part I.01 of the Federal-Provincial Fiscal Arrangements Act, offset by an increase related to the value of loans disbursed to Crown Corporations participating in the Crown Borrowing Framework ($148.2 million). Gross borrowings by Crown Corporations are based on demand and the business requirements of the participating entities, and also depend on the terms of the Crown Corporation borrowings. As such, amounts can vary significantly from year-to-year.

3. Risks and Uncertainties 

The global economic recovery has recently weakened, becoming more uneven and uncertain, and the world economy continues to face significant challenges, including the European sovereign and banking debt crisis. Going forward, private sector economists are calling for positive, but modest growth in Canada and the United States. With this forecast, the Department's program priorities and associated plans are designed to mitigate the risks to the Canadian economy while seizing opportunities to strengthen economic growth and job creation and to advance Canada's leadership internationally.

In particular, the Department will continue to manage the economic volatility risks by ensuring it has in place the infrastructure, resources and authorities needed to respond to an evolving economic and financial sector environment. The Department will also manage the increased requirement for coordinated international decision making to deal with uncertain world economic conditions, with attention to ensuring that responsible agencies take effective coordinated action to support the soundness, integrity and reputation of the Canadian financial system.

4. Significant changes in relation to operations, personnel and programs

The Department continues to work closely with Shared Services Canada to ensure the successful transfer of responsibilities, resources, and personnel relating to e-mail, data centres, networks, and associated internal services.

5. Budget 2012 Implementation 

This section provides an overview of the savings measures announced in Budget 2012 that will be implemented in order to refocus government and programs; make it easier for Canadians and business to deal with their government; and, modernize and reduce the back office.

The Department of Finance will achieve Budget 2012 savings of $32.4 million by fiscal year 2014-15 by reconfiguring and modernizing the Department’s internal services and policy analysis functions.  It is also taking a further significant step to reduce coinage costs including, for example, such measures as changing the metal composition of $1 and $2 coins from metal alloys to plated steel cores and eliminating the penny.  The estimated cost to the Government of supplying pennies to the economy is about $11 million per year.

The Department’s available funding reflects a reduction of $10 million associated with the introduction of plated $1 and $2 coins. This measure is part of Finance Canada’s contribution to the Government’s deficit reduction action plan. Further savings generated by other measures that comprise the Department’s contribution to the plan have not been reflected in the Estimates or this quarterly financial statement. However these additional amounts have been frozen and are not available for spending.

There are no financial risks or uncertainties related to these savings.

Approved by:

Michael Horgan,
Deputy Minister

Sherry Harrison,
Chief Financial Officer

Ottawa, Canada

November 23, 2012

Department of Finance Canada
Quarterly Financial Report
For the quarter ended September 30, 2012

Statement of Authorities (unaudited)
Fiscal year 2012-2013 Fiscal year 2011-2012
 

(in thousands
of dollars)
Total available
for use for the
year ending
March 31, 2013
*, **
Used
during the
quarter ended
September 30,
2012
Year to
date
used at
quarter-
end
Total available
for use for the
year ending
March 31,
2012 *
Used during the
quarter ended
September 30,
2011
Year to
date
used at
quarter-
end
Budgetary
 authorities
  Voted
   authorities
    Operating
     expenditures
114 591 22 178 45 759 100 883 27 495 51 549
    Grants and
     contributions
215 000 500 2 505 181 416 3 735 13 787
 
  Total voted
   authorities
329 591 22 678 48 264 282 299 31 230 65 336
 
  Statutory
   authorities
  Federal-
   Provincial
   Fiscal
   Arrangements
   Act

   payments
    Fiscal
     Equalization
     (Part I -
     Federal-
     Provincial
     Fiscal
     Arrangements
     Act
)
15 422 503 3 855 625 7 711 251 14 658 570 3 664 643 7 329 285
    Canada Health
     Transfer (Part
     V.1 - Federal-
     Provincial
     Fiscal
     Arrangements
     Act
)
28 568 975 7 142 243 14 284 487 26 951 863 6 737 952 13 475 918
    Canada Social
     Transfer (Part
     V.1 - Federal-
     Provincial
     Fiscal
     Arrangements
     Act
)
11 859 486 2 964 871 5 929 743 11 514 064 2 878 516 5 757 032
    Territorial
     Financing (Part
     I.1 - Federal-
     Provincial
     Fiscal
     Arrangement
     Act
)
3 110 680 634 579 1 841 523 2 876 083 586 721 1 702 641
    Wait Times
     Reduction
     Transfer (Part
     V.1 - Federal-
     Provincial
     Fiscal
     Arrangements
     Act
)
250 000 62 500 125 000 250 000 62 500 125 000
    Alternative
     Payments for
     Standing
     Programs (Part
     VI - Federal-
     Provincial
     Fiscal
     Arrangements
     Act
)
(3 388 677) (841 603) (1 683 207) (3 112 956) (786 887) (1 657 533)
    Transitional
     assistance to
     provinces
     entering into
     the harmonized
     value-added
     tax
     framework
     (Part III.1 -
     Federal-
     Provincial
     Fiscal
     Arrangements
     Act
)
- - - 1 880 000 1 880 000 1 880 000
    Incentive for
     Provinces to
     Eliminate Taxes
     on Capital (Part
     IV - Federal-
     Provincial
     Fiscal
     Arrangements
     Act
)
- 15 15 - (4) (4)
    Additional
     Fiscal
     Equalization
     Payment -
     Total
     Transfer
     Protection
     (Part I -
     Federal-
     Provincial
     Fiscal
     Arrangements
     Act
)
- 679 660 679 660 - 952 107 952 107
    Additional
     Fiscal
     Equalization to
     Nova Scotia
     (Part I -
     Federal-
     Provincial
     Fiscal
     Arrangements
     Act
)
325 779 - - - - -
 
  Total Federal-
   Provincial Fiscal
   Arrangements
   Act

   payments
56 148 746 14 497 890 28 888 472 55 017 624 15 975 548 29 564 446
  Interest on
   Unmatured
   Debt 1
19 703 000 3 947 106 8 707 314 20 706 000 4 439 432 9 547 210
  Other Interest
   Costs 1
9 159 000 2 271 170 4 549 253 9 545 000 2 384 604 4 785 868
  Transitional
   Payment to
   Newfoundland
   and Labrador
   (Nova Scotia
   and
   Newfoundland
   and Labrador
   Additional Fiscal
   Equalization
   Offset Payments
   Act
)
- - - - 137 177 261 767
  Additional Fiscal
   Equalization
   Offset Payment
   to Nova Scotia
   (Nova Scotia
   and
   Newfoundland
   and Labrador
   Additional Fiscal
   Equalization
   Offset
   Payments Act
)
146 059 - - - - -
  Youth
   Allowances
   Recovery
   (Federal-
   Provincial Fiscal
   Revision Act
,
   1964)
(746 180) - (371 616) (685 644) - (346 799)
  Payments to
   International
   Development
   Association
441 620 - 441 620 384 280 - 384 280
  Debt payments
   on behalf
   of poor
   countries to
   International
   Organizations
   pursuant to
   section 18(1) of
   the Economic
   Recovery Act
51 200 - - 51 200 - -
  Establishment
   of a
   Canadian
   Securities
   Regulation
   Regime
   and Canadian
   Regulatory
   Authority
   (Budget
   Implementation
   Act
, 2009)
- - - 150 000 - -
  Canadian
   Securities
   Regulation
   Regime
   Transition Office
   (Canadian
   Securities
   Regulation
   Regime
   Transition Office
   Act
)
- - - 11 000 - 14 345
  Purchase of
   Domestic
   Coinage
120 000 27 228 56 265 130 000 23 888 51 686
  Statutory
   Subsidies
   (Constitution
   Acts
,
   1867-1982,
   and Other
   Statutory
   Authorities)
32 149 14 837 16 212 32 149 14 836 16 074
  Contributions to
   Employee
   Benefit
   Plans
13 143 3 285 6 571 12 790 3 198 6 395
  Minister of
   Finance - Salary
   and motor car
   allowance
78 20 39 78 20 40
  Minister of
   State -
   Motor car
   allowance
- - 1 - - -
  Other
    Losses on
     foreign
     exchange
- 100 957 134 445 - (44 450) 21 174
    Payment of
     liabilities
     previously
     recorded as
     revenue
- 466 871 - 702 12 977
 
  Total statutory
   authorities
85 068 815 20 862 959 42 429 447 85 354 477 22 934 955 44 319 463
 
Total budgetary
 authorities
85 398 406 20 885 637 42 477 711 85 636 776 22 966 185 44 384 799
 
Non-budgetary
 authorities
    Pursuant to
     section 8(2) of
     the Bretton
     Woods and
     Related
     Agreements
     Act
, the
     amount
     of financial
     assistance
     provided by the
     Minister of
     Finance for the
     purchase of
     shares of the
     International
     Bank for
     Reconstruction
     and
     Development
     shall not
     exceed an
     amount of
     $98,141,398 in
     United States
     dollars over the
     period
     2011-12
     to 2015-16.
- - - 20 611 - -
    Advances to
     Crown
     corporations
     (Gross)
- 16 062 835 32 716 713 - 15 914 609 32 250 104
    Payments to
     Ontario and
     Prince Edward
     Island (Part
     I.01 - Federal-
     Provincial
     Fiscal
     Arrangements
     Act
)
- - - - 151 454 151 454
    Advances
     pursuant to
     section 13(1)
     of
     the Financial
     Consumer
     Agency of
     Canada Act

     (Gross)
- 3 000 5 000 - 4 000 6 000
    In accordance
     with the
     Bretton Woods
     and Related
     Agreements
     Act
, the
     issuance and
     payment of
     non-interest
     bearing, non-
     negotiable
     demand notes
     in an amount
     not to exceed
     $441,610,000
     to the
     International
     Development
     Association
- - - - - -
    Payment to
     International
     Bank for
     Reconstruction
     and
     Development
20 611 - - - - -
 
Total non-
 budgetary
 authorities
20 611 16 065 835 32 721 713 20 611 16 070 063 32 407 558
 
Total authorities 85 419 017 36 951 472 75 199 424 85 657 387 39 036 248 76 792 357
* Includes only Authorities available for use and granted by Parliament at quarter-end
** Total available for use does not reflect measures announced in Budget 2012
1 Effective 2012-13, the Department of Finance’s statutory vote for Public Debt–Interest and Other Costs has been divided into two categories, Interest on Unmatured Debt and Other Interest Costs. 

 

Table 1: Departmental budgetary expenditures by Standard Object (unaudited)
  Fiscal year 2012-2013 Fiscal year 2011-2012
 

(in thousands
of dollars)
Planned
expenditures
for the
year ending
March 31, 2013 *
Expended
during the
quarter ended
September 30,
2012
Year to
date
used at
quarter-
end
Planned
expenditures
for the year
ending
March 31, 2012
Expended
during the
quarter ended
September 30,
2011
Year to
date
used at
quarter-
end
Expenditures:            
  Personnel 87 898 19 183 42 856 83 922 21 790 45 935
  Transportation and
   communications
4 500 332 893 5 600 815 1 560
  Information 17 100 2 245 2 484 5 500 3 863 3 948
  Professional and
   special services
14 800 3 674 4 836 14 000 3 669 5 025
  Rentals 500 225 712 800 86 220
  Repair and
   maintenance
500 8 11 600 55 82
  Utilities, materials
   and supplies
120 900 27 346 56 599 131 200 24 031 51 948
  Acquisition of
   machinery and
   equipment
2 013 95 144 2 529 251 910
  Transfer payments 56 288 595 14 486 338 28 977 193 55 131 025 16 131 296 29 893 555
  Public debt charges 28 862 000 6 218 276 13 256 567 30 251 000 6 824 036 14 333 078
  Other subsidies
   and payments
- 127 939 135 470 11 000 (43 707) 48 538
 
Total gross
 budgetary
 expenditures
85 398 806 20 885 661 42 477 765 85 637 176 22 966 185 44 384 799
Less Revenues
 netted against
 expenditures
400 24 54 400 - -
 
Total net
 budgetary
 expenditures
85 398 406 20 885 637 42 477 711 85 636 776 22 966 185 44 384 799
* Planned expenditures do not reflect measures announced in Budget 2012