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Public Accounts of British Columbia For the fiscal year ended March 31 1980 VOLUME I - FINANCIAL STATEMENTS British Columbia. Legislative Assembly 1980

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 Province of British Columbia
Public Accounts
of
British Columbia
For the fiscal year ended March 31
1980
VOLUME I—FINANCIAL STATEMENTS
HON. HUGH A. CURTIS
Minister of Finance
 British Columbia Cataloguing in Publication Di
British Columbia. Ministry of Finance.
Public accounts of British Columbia. —
1977/1978-
Annual.
Continues: British Columbia. Ministry of
Finance. Public accounts. ISSN 0382-2001.
Report year ends March 31.
Vols, for 1978/1979- issued in
2 v.: v. 1. Financial statements — v. 2.
Schedules of payments.
ISSH 0382-2001 = Public accounts of Briti;
Columbia.
35U.711'007231'05
Wailable to the General Public fi
QUEEN'S PRINTER
563 Superior Street
Victoria, B.C.
V8V 4R6
L_
 BIy it please Your Honour:
WM The undersigned has the honour to presen
Cbiumbia for the fiscal year ended March 31,
■Mo/sOy of Finance,
Victoria, B.C.
September 30,1:
 Respectfully submitted,
 PROVINCE OF BRITISH COLUMBIA
ORDER OF PUBLIC ACCOUNTS
Volume 1
Main financial statements of the Province	
Schedules to statement of assets and liabilities	
Schedules to General Fund revenue and expenditure	
Details of budgetary, nonbudgetary, and revenue surplus expenditure, and !
Purpose Fund transactions	
Securities deposited with the Government pursuant to various Acts	
Financial statements of Crown corporations and other Government agencies...
Index to details of revenue and expenditure	
| Volume 2
Detailed schedules of salaries, wages, travel expenses and other payments.
(Tables of contents are provided at the beginning of each section.)
  MAIN FINANCIAL STATEMENTS OF THE PROVINCE
CONTENTS
Statement of assets and liabilities                                                                                     A 2
BSatement of revenues and expenditures                                                                   A 5
BSjmmary of General Fund revenues                                                                         A 6
■Summary of General Fund expenditures                                                                           A 7
B&tement of net receipts and payments (combined funds)                                      A 8
■Notes to financial statements A 9
Keport of the Auditor General                                                                         A 15
Supplementary Statements
■statement of consolidated revenue by major sources for the six fiscal years 1975 through
■statement of expenditures by standard objects of expenditure classification....
 STATEMENT OF ASSETS « El
21,1523fl
(156,189,"
(106,412,!
Special Purpose Funds
Superannuation Funds
■ 1.27S.680      173,86
6,728,937,218      5,954,209,01
 LIABILITIES AS AT MARCH 31,1980
138,459,407
164,300,462
39,617,154
(7,892,811)
288,751,593
342,377,023
356,609,857
(261,447,790)
(53,625,430)
\pril 1, 197
Hies—
...       544,736,656
ue surplus
■   3,109!81930I
3,055i632!655
214,226,799
54,186,646
3,419,208,167
3,150,794,722
268,413,445
3,943,307,550
3,754,619,535
188,688,015
I Superannuation Funds
embers of the Legislati
839,619,901 563,043,988      276,575,91
)6,019        689,550,666      135,645,353
I  Guaranteed Debt
  PUBLIC ACCOUNTS IS
Budgetary Transactions
■ Budgetary surplus
Nonbudgetary Transactions (current)
■       ex
Revenue Surplus Account Appropriations
Balance, Revenue Surplus Account, April 1, 1976, to date1
■ Fnrlofvear
Revenue
SPECIAL PURPOSE FUNDS
Ipenditure
Balance of Funds
1     FndnfvPar
ITcILtion
SUPERANNUATION FUNDS
17,992        213,745,5-;
11,193 73,754,42
)9,857 216,618,7(
484,719,895   214,951,453
'6,525,220    31,933,97
.8,763,137   636,829,1(
52,938,921 49,600,135
19,550,666        573,878,245
 PROVINCE OF BR1TIS!
Cor
?6,035,5i
Total budgetary revenue        5,495,333,558     4^51	
Nonbudgetary Revenue
Sale of assets of Surrey Farm Products Ltd. (formerly Panco
Poultry Ltd.)  14,800,000
Recovery of unearned premium reserve from I.C.B.C  2,810,368
Recovery of advance to B.C. Assessment Authority  2,500,000
Recovery of advance to B.C. Harbours Board  2,5O0,6w
Total nonbudgetary revenue  20,110,368           2,500,tjnl
Combined General Fund Revenues                            5.515,443,926     4,568,926,2ffl
 12540
605
An*
1   726
434
Exe
■2/705
303
|
I,I2IW57
317
755
1
105.586
,213,426
72?
Mb
65J59
038
Mb
178.861
333
Min
Wajus
867
Min
1 -
Min
istry of DeregXfon^ ™
istry of Economic Development.
istry of Energy, Mines and Petrc
istry of Environment	
Nonbudgetary Expenditure Charged to Current Revenue
)1,007 10,285,14
Surplus of 1977-78 Approp
Combined General Fund Expe
'.7,317,127     4,428,935,08
 A g                                                 PROVINCE OF BRITISH COLUMBIA
COMBINED FUNDS
STATEMENT OF NET RECEIPTS AND PAYMENTS FOR THE
FISCAL YEAR ENDED MARCH 31, 1980
NET RECEIPTS
^Budgetary                                                                            5,495,333,558
Nonbudeetarv                                                        20,110,368
,566,426,215 1
2.500,000
5,515,443,926
Special purpose funds                                                                               ...       484,719,895
.568.926,231  1
214.951.453 1
receipts (net) accounted for through asset accounts
189,687.553 1
(25!042[98| 1
Increase in accounts receivable                                                                    645,210
Decrease in other assets of special purpose funds         (20,466,159)
427,828,186
171,330,7S 1
Total net receipts from operations                                            5,742,179,425
Other Sources
,756,172.992 1
101.823,895 1
.857,996,887 |
NET PAYMENTS
Expenditures (page A 5)
Revenue surplus appropriations .'..'."'! ""]                  219il9I*193
,323,680,65|
5,327,317,127     4
Special purpose funds        208,194,675
Superannuation funds          34,198,437
,428,935,081
183,017,47S
27,953,68|
5,569,710,239     1
Net increase (decrease) in current liabilities         (53|625i430)
,639,906,244]
189,687,553.
56,525,721
393,910,205         243,609,918: 1
Total net payments     5,175,800,034     4,396,296,32ff
Net cash received       740,249,003
461,700,561
,018,143,971
Cash and investments—end of year (below)                                   3,220,093,535     2
,479,844,532)]
3,220,093,535     2
.479.844.532 •
1                       J
 NOTES TO FINANCIAL STATEMENTS
1.
Summary of Significant Accounting Policies and Practices
, Financial Contro
annual Supply Act and
While these policies a
and practices spon
by
at statements for the 1980/81 fiscal year will
!Current policies and
A.
The Accountino Ent
rv and Basis of Reporting
and
administered by the Mi
isterof Finance pursuant to various statutes. They do not include thos
wrfonTy^thTexte
Mof
untTiM^^noTadv
anced to them and as to guarantees of their de
t securities issued. A
s(or
™ce plus certain ass
O Special Purpose F
nds-earmarked revenues and funds set aside
from the General Fun
d for specific or sp
ecial
.O Superannuation F
nds-the accounts of the Public Service and
Members of the Legis
ative Assembly S
per-
0 TnTFunds-def
osits, sinking funds and other accounts admi
istered or held in tru
t for others.
B.
-General Fund
ross basis by sour
oth
RevenuesVandU,ehx°^nd
ture?areprSernteedPinS toe^egtiS: ■ 1
ted program expend
ures in the |g
Sft '»
(i) budgetary
rX of Revenue" and^pfnditureT6™68 *
ad expenditures of Go
vemment included
nthe
(ii)  nonbudge
account appropriate
rizedbytheLegisl
ed as described below
ardshipoftheGovernn
Co
emment programs. On
-equity investm
ent in Crown and other corporations;
1    —internal transfers between appropriations.
programs with
of the Liquor Distribution Branch and the n
t income of the Bri
sh Columbia Sys
e at March 31 are included as expenditures, wh
other assets of the Queen's Printer and the Pu
Phasing Commission
 PROVINCE OF BRITISH COLUMB
(3) Reporting of Assets and Li
bilities—The assets and liabilities of t
e General
undre
orted
nthe
; cash Iransactions of the Government an
cash and temporary
om other organizations for miscellaneo
(ii)  taxes and other acco
unts receivable, loans, advances and in
and certain fixed ass
"Other recorded ass
recoveries of receivables, loans, advanc
f Assets Over Liabilities—The net asset
of the Gen
=df
Account represents the accumulation o
dexpe
—Surplus April 1, 1976 to date, which is represented by cash
ured debt.
31, 1976 which is funded by the unma
statements on a mer
norandum basis for record and informa
on purpose
asou
ineda
bove.
C. Basis of Accounting—Other
UNDS
i accounts of these Funds are maintained
on the cash
basis of
rdingly
s receivable, real estate held for develo
ritten down
torefl
by s
byappropn
MIS Of
(2) Superannuation Funds—Th
include Government employer contr
(3) Trust Funds— Individual ac
nt of Assets and Liabilities as increases
terest entitlement of individual funds o
dnedb
for specific investment of funds nor fo
specify that any interest earned on tun
d investments is to be credited to Genera
lFundreve
ues rather tha
to the
spt
° (5) Funds and Cash Assets Ace
ounting and Reporting—In accordance
with statut
sryor
dminis
trative
req
ned for each of the individual accounts
these
required by the governing legislation o
r specif
are also maintained. Otherwise the cas
h assets together with any uninvested bal
eGen
D.   CoMMrtMENTS'
No provision is made in the acco
nts for commitments under construction
or other con
tracts it
force
tthey
2. Cash and Investments
which are recorded at the lower of c
At March 31, 1980, $1,664,871
328 of the investments held are securit
es issued or
eedby
thePr
3. Crown Service Corporations
Functions formerly performed in
 >UBLIC ACCOUNTS IS
-but are incurred by the Corporation and recovered through annual buildir"
to user ministries which are included in their budgetary expenditures.
>n for the income-producing properties transferred from the Government, and whic
i Government expenditures in prior years, the Corporation issued a noninterest bearin
:e dated March 31, 1978 in the amount of $143,570,934 being the deemed cost (
ies included in the determination of the occupancy charges. The note is payable in 2
thereby offse
charges payab
Province by t
eDby°theaniiSfsa. A s^
Mid noninterest bearing note for $44,357,184 was issued to
ion starting June 1,1981 and one final instalmentof$3,357!
TheProv
budgetary rev
The British Cc
inoe also receives dividend
n is responsible for the provision of data processing service
lit Columbia Railway Company
Col
rlyth
liar
d by the Railway. The histo
nteed by the Province (ne
48^970
the shares was $185,572,900 and
g funds) was $727,495,239.
00 as at December 31,1979) the P
,atM
bee
w
tten down to one dollar.
However
the debt of the Railway which
sgua
I 5. Ocean Falls Corporation
6. Guaranteed Debt
of over-all Government financing policies $3.6 billion of the guaranteed debt is held in Provincial public
tation, pension and other funds, of which $214 million is held by the General and Special Purpose Funds
 PROVINCE OF BRITISH COLUM1
7. Superannuation and Pension PI
This plan is financed by employee
employed by private pension plans
[March 31, 1977.
iability as at March 31, 1977 of about $154 mil"   *"
March 31,1977 there was an actuarial liability of $37 million ii
Statutory amendments were passed by the Legislature i
value are available in an Inflation Adjustment Account createc
contributions of 0.5 per cent of salary, and for an increase of (
Under the Pension (Teac
pplements even though
:s
ble that
heLegisla
by the Pro
!SS
"arterfTc
bereq
esigni
ving
Einf
tary
Subsequent Event
Revenue Surplus Ac
■COUNT AN
d Statu
TORY App
opriations
al of $573,250,000 fr(
Special Puipos
nd by the
11
t, 1980— $168,650,00(
Act— $146,600,000.
e"
fFinan
736,6
ttaT
1, 1
 Centre Actthe Legislature authorized the expenditure of $20 mi
1 Victoria Trade and Convention Centres. The Act requires
10 million and $2.5 million respectively appropriated during the
de and Convention Centre Funds.
  PUBLIC ACCOUNTS 1979/80 A 15
REPORT OF THE AUDITOR GENERAL
ON THE FINANCIAL STATEMENTS
INCLUDED IN THE PUBLIC ACCOUNTS
OF THE PROVINCE OF BRITISH COLUMBIA
To the Legislative Assembly
B     of the Province of British Columbia
WParliament Buildings
Wfictoria, British Columbia
I      I have examined the financial statements of the Government of the Province of
British Columbia for the fiscal year ended March 31, 1980 as presented in the Public
■Accounts, and the related schedules contained in Sections B and C of the Public
■Accounts. These statements are:
Statement of assets and liabilities.
Statement of revenues and expenditures.
Summary of General Fund revenues.
Summary of General Fund expenditures.
Statement of net receipts and payments (combined funds).
Notes to financial statements.
These statements and schedules in my opinion constitute the statements of financial
Bbosition, the results of operations and changes in financial position referred to in
■section 7 of the Auditor General Act, R.S.B.C. 1979, chapter 24.
I      I did not examine and do not express an opinion on the following statements
Rontained in Section A of the Public Accounts:
Statement of consolidated revenue by major sources for the fiscal years
ended March 31, 1975 through 1980.
Statement of consolidated expenditure by major functions for the fiscal
years ended March 31, 1975 through 1980.
Statement of consolidated expenditure by objects of expenditure classification (grouped) for the fiscal year ended March 31, 1980.
■These statements contain mainly supplementary information and do not constitute
Ban integral part of the financial statements on which I am required to report.
I      My examination was made in accordance with generally accepted auditing
■standards, and accordingly included such tests and other procedures as I considered
■necessary in the circumstances. I have received all the information and explanations
Bhave required for the purpose of my examination.
I I have relied upon information furnished by the Consulting Actuary for the
Public Service Superannuation Plan and the Teachers' Pensions Plan as to the
^accuracy of Note 7 to the financial statements as presented in the Public Accounts.
I I report in accordance with section 7 of the Auditor General Act. In my opinion,
[these financial statements present fairly the financial position of the Government of
the Province of British Columbia as at March 31, 1980 and the results of its
[operations and changes in its financial position for the year then ended in accord-
lance with the stated accounting policies as set out in Notes 1 and 2 to the financial
applied on a basis consistent with that of the preceding year.
 "1
j 16 PROVINCE OF BRITISH COLUMBIA
I emphasize that this report is limited under section 7 of the Act to an opinior
presentation of the financial statements in accordance with the stated accounting   I
policies of the Government. Under section 8 of the Act I report separately on other
matters resulting from my examination that I consider should be brought to the j
m of the Legislative Assembly. That report will be presented at a future date ]
 ;y the Established Prnpram Finanninp ar
 PROVINCE OF BRITISH COLUM
  WINCE OF BRITISH COLUM1
SasSsiissliasssKliP  i.  i. |£. §§. 1 111 2s
3 S      --,"   -■■  ;.  ":  =y 5
11   §1  l^||s| | i p   | I 111 !?
|  s'g's   °~'sg'|E!ggg||     a   1  g'"°"
i
1
if 1|
&3q
111 si
si 1*111  1
Ipllfiiii
liilil
 public accounts 1979/80
a guide to classification of expenditure by object
The following are details of the types of expenditures included in each of the object classificati
A 20—
Salaries and Wages
Hegislative Assembly.
c. Also includes costs associated with advertising and publications.
I Utilities, Materials and Supplies
I Acquisition of Physical Assets
s, Contributions and Subsidies
  SCHEDULES TO STATEMENT OF ASSETS AND LIABILITIES
| General Fund exce
ecial purpose funds-
ESummary of transactions and balances of funds ...
Summary of transactions for the year ended March 31,
Trust funds-—assets, fund balances	
| guaranteed debt:...-. jc&ijm**—
Is of direct debt	
 E OF BRITISH COLUM
GENERAL FUND ASSETS
id Temporary investments
' 59
143
ii
(11,004
m
155,476
80^052
906
328
320,662
007
788,151
503
Bank of Montreal.
100
851
575
5
192
496
978
1
460
640
50
000
000
000
165
837
564
200
290
510
993
569
000
687
2
30
000
000
_49
364
1.119.834
So
1.119.817
692
365
79,023
667.
10,000
000
222,159
073
1009
300
370
20,<XX
000
8,522
491
133,68'
500
75,506
159
669,176
320
23 000
000
 PUBLIC ACCOUNTS 1979/80
SCHEDULES TO STATEMENT OF ASSETS AND LIABILITIES—Continued
GENERAL FUND ASSETS—Continued
nm
Kccounts Receivable From Other Governments, Agen-
1979
during 1979/80
Bj|   cies and Miscellaneous Accounts                               $
22,476,781
British Columbia municipalities—re shared-cost program              1,806
160,442
Sundry agencies and miscellaneous accounts                       9,652
815
6,713,375
33,710
053          33,064,843            645,210
Vorking Capital Advances
1     Workers' Compensation Board                                            245
000
'245|000
_
Queen's Printer                                                                    1,943
■Miscellaneous advances-ministries                                  3,245
798
2,804,435
441,363
Other Recorded Assets Comprising The Capital Surplu
s Ac    unt
NOTE-These accounts are included for record purposes on
■Taxes and Other Accounts Receivable
1 WPronerty taxes '..'..      11,853,753
■ ■Social services tax*                                                              5,626
4^501,025
1      Corporation capital lax*                                                       1,020
560,289
460,517
1      Insurance premiums tax                                                             11
(3,528)
1      Logging tax*                                                   559
813
1,557,218
(997,405)
755
75,906
761,849
(588,096)
1      Timber royally and stumpage and grazing fees'         112,355
270
24,062,950
065
1      Social and health agencies.."                                                      792
Teacher-training loans*
1      Land sales (principal)                                                           1,301,642
'697[580
(177)
151,403,989
122,012,390
29,391,599
|-	
f Net of provision for doubtful recoveries, aggregating $1,574,513 in 1979/80 and S3.041.5
8 in ,978/79.
BBSs and Other Advances
■     Various school districts          32,562,000
349,355
■     Various improvement districts                  1,636^893
(160,054)
■    Miscellaneous '.,.. *„.               87,001
British Columbia Assessment Authority—advances           2,126,000
(374,000)
(33,901)
r" i
 B 4 PROVINCE OF BRITISH COLUMBIA
SCHEDULES TO STATEMENT OF ASSETS AND LIABILITIES—Continue!
GENERAL FUND ASSETS—Continued
Loans and Other Advances—Continued
^^"Min^of^Zo^TD^velop^^Act                      27.890,596 3,820,800        24.0691
Farm Products Industry Improvement Act*                       3,752,149 3,806,358             54
Pacific North Coast Native Co-operative Loan Act*...            '— 5,397,092       (5. 9
University Endowment Lands Administration Account          4,184,887 4,184,887
Sundry*  45'420 54'199 	
vestment in, and Advances to, Crown Corporations
,855,729 shares of $100 each2-3  1 185,572,900    (185,57^
 f	
PUBLIC ACCOUNTS J 979/80                                                              B 5
SCHEDULES TO STATEMENT OF ASSETS AND LIABILITIES—Continued
GENERAL FUND ASSETS—Continued
investments, Other                                                                            $                         S                      $
I       Note .'....'. 1                                              151,532,930     (15K532!930)
'  cost !....'..._.i.„                              2,000                    2,000            —
45,306,242
151,718,489
.106,412,247)
Fixed Assets
2 466 671095
11,234,409
2.601.850,257    ,2,335,606,21.1      266,244,046
Detail as of March 31,1980—                    S                          $
B   Bridges                                         '437J3o!424         127,889,607     ?309
1     Ferries and ferry landings......         37,36oi358             8,801 !901        28
240317
773^90
2,744,149,550         142,299,293   2,601
I
Ss
 SCHEDULES TO STATEMENT OF ASSETS AND LIABILITIES—Continued
iL FUND LIABILITIES
Outstanding Cheques
Accounts Payable
Other Current Liabilities
aimsbyhospiiais
14U561
pon performance
44 650
«nse-
5 554 871
—
31,724,343
red Debt (British Columbia Defic
1975-76(1916, chap. 6))
Series BD: Due May 1, 1988, 9V4
235,347,790
 SCHEDULES TO STATEMENT OF ASSETS AND LIABILITIES—Continued
GENERAL FUND EXCESS OF ASSETS OVER LIABILITIES
[Balance of Revenue Surplus Acco
pital Surplus Account (arising from c:
!,253 512,068
 SCHEDULES TO STATEMENT OF ASSETS AND LIABILITIES—Continued
GENERAL FUND EXCESS OF ASSETS OVER LIABILITIES—Continued
Annu
il instalment payment on advan
e received...
(10,000,000)
tishCo
Bn
umbia Development Corporatio
Bn
tishCo
umbia Railway Company—
Bn
ishCo
umbia Systems Corporation-
15,000,000 of the Corporati
leady Foods'
Investment Corporation—
ation's $151,532,930 promissory note for
 SCHEDULES TO STATEMENT OF ASSETS AND LIABILITIES—-Continued
SPECIAL PURPOSE FUNDS—ASSETS
435,178,979        245,583,416      189,595,5c
591,600
721
294,609,342     296,991,379
IPp^yi*
131,650
iS'i'-.K..^::
44,284
21,438
2'OOC
141 ^542
328
000
39,293,510
rust Company	
Bank of Canada	
'        -
ofCan^..	
20 300'000
mbia Regional Hospital Districts Financing
umbia School Districts Capital Financing
315,985
lo!235
2o!o00
956
000
000
000
- lO^sioOO
22,000,000
par value over cost
435,453,956
274,977
245,870,357
ecurities, at cost, above	
435,178
979
245,583,416
 SCHEDULES TO STATEMENT OF ASSETS AND LIABILITIES—Continued
SPECIAL PURPOSE FUNDS—ASSETS—Continued
°ance
^b"— Centra. Credit Vnion
tgag
s receivable-secured	
I
Entire issued share capital of 1,355,084 com-
Advan^s!hares.a,.ros!:::::::::::::
19,760 5,799,760
S3.687.636 374,153,795      (20,466,159
 PUBLIC ACCOUNTS 15
ii
iilllll
11
111
HI
 12 PROVINCE OF BRITISH COLUMBIA
SCHEDULES TO STATEMENT OF ASSETS AND LIABILITIES—Continued
SUPERANNUATION FUNDS—ASSETS
Cash and Investments
al cash and investments
670,842,507       69,220M
10,000 1,030,000
Manitoba Hydro-electric Commission (Provinc
12,000 312,000
70,000 70,000
 I SCHEDULES TO STATEMENT OF ASSETS AND LIABILITIES—Continued
SUPERANNUATION FUNDS—ASSETS—Continued
Limited, 1,200 common shares
:el Company of Canada Ltd., 450
ers of the Legislative Assembly Superai
sbt securities (listed at par value)—
Short-term deposits with chartered banks
British Columbia School Districts Capital
J3.246        670,842,507
 SCHEDULES TO STATEMENT OF ASSETS AND LIABILITIES—Continued^
SUPERANNUATION FUNDS—SUMMARY OF TRANSACTIONS FOR THE YEARS El
PUBLIC SERVICE SUPERANNUATION FUND
Revenues and Credits
Contributions-
Transfers from Member's A(
Expenditures and Charges
at credit of fund at beginn
59
Z
776
708
3
909
986
656
63
931
846
185
882
829
34
198
437
777
191
490
209
50
415
837
135
466
997
687
917
655
823
384
647
1.7 711
3 3cJ
15,6907
MEMBERS OF THE LEGISLATIVE ASSEMBLY SUPERANNUATION ACCOUNT
Expenditures and Charges
Transfer to Pubic Service Fui
Refund—Members	
568,354
924,799
34J82
746,438
178,361
1,633,011
1,811,372
■ormer Members of the Legislative Assembly are paid fron
rtement of Revenues and Expenditures (page A 5) the tw>
 I  SCHEDULES TO STATEMENT OF ASSETS AND LIABILITIES—Continued
TRUST FUNDS—ASSETS
duSS
Cash and Investments                                                                S
$
$
Cash in banks                                                                                   6,391,036
(218,518)
Bjt accounts (page B 2)                                                           80,052,328
Short-term deposits with chartered banks and trust companies ...         80,873,041
61,538,372
19,334,669
Bj of Canada and the Provinces                                  1       847,828,887
728,509,833
Total cash and investments     1,015,145,292
841,275,680
173,869,612
TRUST FUNDS—BALANCES
Trust Deposits
(300)
■■Companies in liquidation                                                      458,874
455,787
3,087
Bj   Courts          35,228,635
Intestate estates........ ...... .                                                         21,786,756
3,724,381
678,413
1,605,022
■ Official Committee                      32,855,355
Official Guardian                            8,087,984
6!722i683
375,202
1,365301
Miscellaneous .'.                                         709^807
80,797,418
31,500,619
Sinking Funds
■   British Columbia Buildings Corporation            3,317,512
27,778/759
348,834,604
62,306^815
■British Columbia Railway Company                ...       118,431,893
1        thority                                             70,087,999
52,987,325
17,100,674
Bjf   Sty                                 240,938,748
1 ■   Burnaby, District of «-«»-                   6,999
'78o!510
(773*511)
2,471,523
| ■    Queensborough Bridge account                         991,799
(256,185)
1 ■   Sundry improvement districts            5,599,919
894,640,877
752,036,877
142,604,000
Other
■    Elderly Citizens Housing Fund ^^^            1,556,462
1,473,967
Land Registry Assurance jgUnd- _*,*:. ^.^ ZZZZZ             '874^040
'840^938
33J02
(1,036,308)
8,206,378
8,441,385
(235,007)
Total miscellaneous trust accounts      1,015,145,292
841,275,680
173,869,612
 16 PROVINCE OF BRITISH COLUMBIA
SCHEDULES TO STATEMENT OF ASSETS AND LIABILITIES—Continued
GUARANTEED DEBT
ess: held by British Columbia School Dis-
ing Authority    1,025,1C
£ss: held by British Columbia Regional
 PUBLIC ACCOUNTS 1979/80 B
BSCHEDULES TO STATEMENT OF ASSETS AND LIABILITIES—Continued
GUARANTEED DEBT—Continued
teamship Company (1975) Lt
Development Corp
»,000        3O,500,0C
'-9,000,000       25,600,000
8,328,950,182        884,529,473
7,293,889
8,252,592
3,718,456
3,604,669
45,080
.98,400
7,509,311,338
6,8.1,144,886
214,150,500
165,530,700
7,295,160,838 6,645,614,186
 B 18
i-lj
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:-MMMd
 SCHEDULES OF GENERAL FUND REVENUE AND EXPENDITURE
CONTENTS
I Revenue for the fiscal year ended March 31, 1980 -
I Expenditure for the fiscal year ended March 31, 198
Budgetary expenditures and appropriations by
Legislation  C
Auditor General   C
Ombudsman  !.-...,>.T.i::.:...:..-    C
Executive Council   .„,   C
Ministry of Agriculture  C
Ministry of Attorney General C
listry of Consumer and Corporate Affairs   C
listry of Deregulation    C
listry of Economic Development  C
listry of Education,.Science and Technology   C
listry of Energy, Mines and Petroleum Resources   C
listry of Environment    C
listry of Finance   C
listry of Forests   C
listry of Health   C
listry of Human Resources    C
listry of Labour     C
listry of Lands, Parks and Housing  C
listry of Municipal Affairs   C
mistry of Provincial Secretary and Government Services   C 1
nistry of Tourism and Small Business Development  C 1
nistry of Transportation, Communications and Highways  C 1
nistry of Intergovernmental Relations     C 1
y of Universities, Science and Communications  C 1
Nonbudgetary expenditure  C 1
Expenditure (Revenue Surplus Appropriations)  C 1
 PROVINCE OF BRITISH COLUMBIA
S OF REVENUE FOR THE FISCAL YEAR ENDED MARCH 31, 1
TAXATION REVENUE
NATURAL RESOURCE REVENUE
OTHER REVENUE
 PUBLIC ACCOUNTS 1979/80
DETAILS OF REVENUE FOR THE FISCAL YEAR ENDED MARCH 31, 1980—<
OTHER REVENUE—Continued
CONTRIBUTIONS FROM OTHER GOVERNMENTS
NONBUDGETARY
 PROVINCE OF BRITISH COLUMBIA
EXPENDITURE FOR THE FISCAL YEAR ENDED MARCH 3
Ministry of
 PUBLIC ACCOUNTS 1979/80
EXPENDITURE FOR THE YEAR ENDED MARCH 31,1980—Contii
.t-Spccidl Warrant No 27
imwS£f^onirr1s'sion7'''
 PROVINCE OF BRITISH COLUMBIA
EXPENDITURE FOR THE YEAR ENDED MARCH 31, 1980—Contini
 EXPENDITURE FOR THE YEAR ENDED MARCH 3
 PROVINCE OF BRITISH COLUMBIA
EXPENDITURE FOR THE YEAR ENDED MARCH 31,1
Supplement—Special
 PUBLIC ACCOUNTS 1979/80
EXPENDITURE FOR THE YEAR ENDED MARCH 31,1980—Contini
BK'lSnisuation-^u
port'servic'es"
■Etak^dErnpioyTO
t Opportunity
Orcapai.mi.il environment and
compensation
■jffi/ Rev,ew <Wolk"i
Compensation
I  siwtaM—spS'
 PROVINCE OF BRITISH COLUMBIA
EXPENDITURE FOR THE YEAR ENDED MARCH 31,1980—Continued
SSntBu'Sdin
nfiT^ciaknmai
Ki
bcil^e76LondS
all Business Development
 PUBLIC ACCOUNTS 1979/80
EXPENDITURE FOR THE YEAR ENDED MARCH 31,1980—Contini.
 PROVINCE OF BRITISH COLUMBIA
 PUBLIC ACCOUNTS 1979/80
EXPENDITURE FOR THE YEAR ENDED MARCH 31,1980—Continued
  for the fiscal year ended March 31,1980
BUDGETARY—Ministerial Appropriations (Votes)
I,   Legislation  D     3
(Auditor General    D     7
Ombudsman   D     9
Executive Council   D   11
Ministry of Agriculture    D   13
Ministry of Attorney General   D   25
Ministry of Consumer and Corporate Affairs   D   45
Ministry of Deregulation  D   53
Ministry of Economic Development   D   57
Ministry of Education, Science and Technology   D   63
Ministry of Energy, Mines and Petroleum Resources   D   73
■ Ministry of Environment   D   83
■ Ministry of Finance   D   93
B     Ministry of Forests   D 105
BJ   Ministry of Health   D117
I     Ministry of Human Resources   D 129
Bp Ministry of Labour  D 139
■ Ministry of Lands, Parks and Housing   D 149
■ Ministry of Municipal Affairs    D 157
Bt^ Ministry of Provincial Secretary and Government Services   D 163
E     Ministry of Tourism and Small Business Development   D 185
■ Ministry of Transportation, Communications and Highways   D 191
ft     Ministry of Intergovernmental Relations   D 209
Bj    Ministry of Universities; Science and Communications   D 211
[NONBUDGETARY  :...':\.■?}.:.-  D 213
Revenue Surplus Appropriations   D 217
Special Purpose Funds (Transactions)
Bj    Fixed Capital (Perpetual) Funds   D 223
■ Other Funds   D 226
H   Miscellaneous Statutory A.
 PROVINCE
OF BR
TISH COLUMBIA
A GUIDE TO DETAILS OF EXPENDITURE
outlined
I
n
sare
nder the un
form cla
sification according to the n
l
owa
'cls'a^d
expen
-tempo
Boards
Hs
H
of the Legislative Assembly
Tr
^
jfc
ofpubl
„;,;;•;',",;;
W
rsofBoards, Commissions,e
avel purposes and staff reloca
'den,
onhel
v
red by
g
lS§^
e supplie
sand
expens
s required f
or the o
eration of offices.
l
aH
s
R
out no,
ease or rental.
 LEGISLATION
LEGISLATION
Summary of Budgetary Expenditure by Appropriation
 PROVINCE OF BRITISH COLUMBIA
LEGISLATION
Materials and supplies
Less Transfers
Vote 193—Employee Be
 LEGISLATION
ie Crown Corporation Repi
lg Orders of the Hou:
  AUDITOR GENERAL
AUDITOR GENERAL
>f Budgetary Expenditure by Appropriatioi
 1UILDING OCCUPANCY CI
Description
 OMBUDSMAN
OMBUDSMAN
Summary of Budgetary Expenditure by Appropriation
  EXECUTIVE COUNCIL
EXECUTIVE COUNCIL
Summary of Budgetary Expenditure by Appropriation
 PROVINCE OF BRITISH COLUMBIA
PREMIER'S OFFICE
319,307
216,526
535,833
201,069
37,952
5,972
22,108
2,068
5,161
274,330
245,036
299,194
225,564
Vote 114—Salary Adjustments ..
19,198
10,096
EXECUTTV
Desc
Expenditure by activity
Office of Intergovernmental Relation
T± COUNCIL
Total of vote
Expenditure by standard classification
72,000
581,993
57,235
524,758
Travel ex   n
Less Transfers
Vote 114—Salary Adjustments .
Vote 193—Employee Benefits ..
Vote 200—Pre-retirement Leave
H
 AGRICULTURE
MINISTRY OF AGRICULTURE
Summary of Budgetary Expenditure by Appropriation
—■
.09.787
1,183,780
1,375,366
39,726.088
I
DeputyM
Production
il
4,431,184
I
Specialist
56,235,791
16.092
16,092
Sttor7ed
J3j,79l
ffiB.645
J33.146
1.742.399
1,742,399
and
crop
1,758,491
51{^M5
Less recru
1,758,491
56,991,637
nations
comprise statutory
H
 F BRITISH COLUMBIA
Travel expense 	
Office furniture and equipment  ..
Less Transfers
Vote 193—Employee Benefits
 AGRICULTURE
DEPUTY MINISTER'S OFFICE
 PROVINCE OF BRITISH COLUMBIA
GENERAL ADMINISTRATION
Expenditure by standai
Salaries 	
1,353,354
 AGRICULTURE
PRODUCTION SERVK
 PROVINCE OF BRITISH COLUMBIA
MARKETING SERVICES
s. The Market Development Program is designed to identify new production opporturuj
eness and consumption of British Columbia-grown foods.
 Ifote 13
FINANCIAL SERVICES
pE
Act. Specific programs involve agricultural credit, agricu
.rn^'nldTvelopmeT6
Appropriations
Expenditure by activity
15.026,331
£i=s^=:E
|j            '5is]245
         13.859,905
BS9.726.088
Total of vote
	
 PROVINCE OF BRITISH COLUMBIA
INFORMATION SERVICES
 SPECIALIST AND REGULATORY SERVICES
Description
 F BRITISH COLUMBIA
LK BOARD
Salaries 	
iUILDING OCCUPAc
COMPUTER AND CONSULTING CI
   MINISTRY OF ATTORNEY GENERAL
Summary of Budgetary Expenditure by Appropriation
623
■s Office
I BDj3       1,500.000
1L357                 11
029
9,175,820      214,474
SI
9,175,820      205,742
880
authorizations comprises
25    Legal Services Commission 	
27 Legal Services to Government ..
28 Superior and County Court 	
30   Coroners 	
33 Oiraiaal Injuries Compensation .
34 Public Trustee 	
36   British Columbia Racing Commi
,362       37   Film Classification 	
£92 39 Order in Council Patients'Revie-
,000 40 Building Occupancy Charges ...
iputer and Consulting Charge
Delta Police investigation ..
■ovincial Court Act—Separat
I warrant (Financial Control \
 IVINCE OF BRITISH COLU
ISTER'S OFFICE
 ATTORNEY-GENERAL
ADMINISTRATION AND SUPPORT
 PROVINCE OF BRITISH COLUMBIA
> a Court of Appeal, Supreme and County Cour
3,620,942 Administration
1,132,406        Family Court .
13,710,031 Integrated Com
  PROVINCE OF B
Expenditure by activity
1,761,568        British Columbia Police
2,007,786 Co-ordinated Law Enfor
36,872,079 Royal Canadian Mounte.
~~|
S3
polic
1
1,783,5
26
35,767,2
l
Special Warrant No. 27—Supplemen
 :y-general
corrections
magement Support Services—'
ipection and Standards—This a
4',53
'531
457
4,507
387
830
056
I
832
US*
488
 PROVINCE OF BRITISH COLUMBIA
LEGAL SERVICES COMMISSION
14.770 Main Esti.
IE DEVELOPMENT COMMISSION
ccess to them. „
Actual Expendii
 ATTORNEY-GENERAL
£ SERVICES
 PROVINCE OF BRITISH O
SUPERIOR AND COUNTY COURT
 SY-GENERAL
PROVINCIAL COURT
 PROVINCE OF BRITISH
CORONERS
72,456        Main Estir
. Special Warrant No. 27—Supplement—Vani
185
972
42
1,367
50
279
46
465
8
198
2,261
302
 IH COLUMBIA PAROLE BOARD
LAW REFORM COMMISSION
 D 3g PROVINCE OF BRITISH COLUMBIA
Vote 33 CRIMINAL INJURIES COMPENSATION ACT
Vote 34 PUBLIC TRUST1
Description
Vote 193—EmployeeBe
Vote 200—Pre-retiremen
 FIRE MARSHAL
Votell4-Sa!aryAdju
Vote 193—Employee E
 PROVINCE OF BRITISH COLUMBIA
BRITISH COLUMBIA RACING COMMISSION
M CLASSIFICATION
Office expense  ...ZZZZZZ. ZZZZZZZ^ZZZ 3^720
115.936
Less Transfers
106,711
 ATTORNEY-GENERAL
.(Vote 38 LANDREGI:
Vote 200—Pre-retirement Leave
)RDER IN COUNCIL PATIENTS' REVIEW BOARD
 :E OF BRITISH COLUMBIA
BUILDING OCCUPANCY CHARGES
14,000 Total of vote ,
ND CONSULTING CHARGES
Esquimau Police Study ..
 -GENERAL
Statutory
J
  MINISTRY OF CONSUMER AND CORPORATE AFFAIRS
Summary of Budgetary Expenditure by Appropriation
58,500       48   Corporate and
3,000       49   Auditors' Certi
 OF BRITISH COLU
MINISTER'S OFFICE
 CONSUMER AND CORPORATE AFFAIRS
EXECUTIVE AND ADMINISTRATION
 PROVINCE OF BRITISH COLUM]
CONSUMER AFFAIRS
 CONSUMER AND CORPORATE.
45 CORPORTATE AFFAIRS
he Superintendent of Credit Unions, Co-operatives, and Trust Coir
 PROVINCE OF BRITISH COl
RENTALSMAN
1,257 Total of v
 Vote 48 CORPORATE Al
 PROVINCE OF BRITISH COLUMBIA
AUDITORS' CERTIFICATION BOARD
Vote 50 BUILDING OCCUPANCY CHARGES
Description
Provides for payments to the British Columbia Buildings Corporation for
Provides for payments
J
 MINISTRY OF DEREGULATION
Summary of Budgetary Expenditure by Appropriatiot
 ^^^^^^11
PROVINCEOFBRITISHCOLUMBIA
DETAILS OF BUDGETARY EXPENDITURES BY APPROPRIATIONS (VOTES)        |
AND ACTIVITIES, AND BY STANDARD EXPENDITURE CLASSIFICATIONS        j
Vote 52                                                      MINISTER'S OFFICE
Description
|     Provides for the office of the Minister of Deregulation, including his salary and expenses and those of his imml I
Appropriations                                                                                                                                   A™"» Expenditures J    1
Expenditure by standard classification
46,835
Less Transfers
Vote 53                                                GENERAL ADMINISTRATION
 DEREGULATION
 PROVINCE OF BRITISH COLUMBIA
Statutory
Provincial Capital Com
Cry i
 DEVELOPMENT
MINISTRY OF ECONOMIC DEVELOPMENT
Summary of Budgetary Expenditure by Appropriation
pi
000
000
040
040
724
3.000,000        24|
i
l
De.mp,i„„
1
No. 25—Bums Lake
d-cost Programs
387,'500             387
540
37,919,446
-tativeDevelopme
l
rporatio
360,000
4,260.105        40,528
3*6
38,664,551
4,260.105        40,211
829
38,664,551
   Government of Canada.
24,500,000 Total of v
 i;ommodation occupied by th>
  MINISTRY OF EDUCATION, SCIENCE AND TECHNOLOGY
Summary of Budgetary Expenditure by Appropriation
Public Schools Educs
197,634 180,000      200,87
[ 1.050 11.050
14,700 44,700
 PROVINCE OF BRITISH COLUMBIA
 SCIENCE AND TECHNOL
 F BRITISH COLUMBIA
PUBLIC SCHOOLS EDUCATION
14,650,375 Administration services   15,650,347
2,727,406 Public instruction services   2,758,868
3,124,797 Educational personnel services  BBS .      2,801,493
3,001,994 Education of the communicatively impaired (net of recoveries) 2,755,394
437,000,000 Direct grants to school districts   434,359,225
154,400,000 Grants to reduce local school taxes   154,998,268
55,541 Special
Expenditure by standard cl;
13,323,595
 D TECHNOLOGY
POST-SECONDARY
SCIENCE AND TECHNOLOGY
 )F BRITISH COLUMBIA
te 67       POST-SECONDARY EDUCATION — COLLEGES AND PROVINCIAL INSTITUTES
he Occupational Training Com
ogram identification and dev
ictor training programs in the fieW
debt related to post-secondary in
 STUDENT AID PROGRAMS
Special Warrant No. 63—Supplem
 PROVINCE OF BRITISH COLUMBIA
TEACHERS' PENSIONS FUND
Description
METRIC CONVERSION
 INDEPENDENT SCHOOLS
 PROVINCE OF BRITISH COLUMBIA
BUILDING OCCUPANCY CHARGES
Description
for paymen
s to the British Columbia Buildings Corporation for rental
and maintenance of buil in]
on occupied
by the Ministry.
Actual Expenditures j     1
==M
Expend
ture by standard classification
COMPUTER AND CONSULTING CHARGES
Description
forpaymen
s to the Bntish Columbia Systems Corporation for data process
Special Warrant 6
nada-British Columbia Co-operative Education Projects
 MINISTRY OF ENERGY, MINES AND PETROLEUM RESOURCES
Summary of Budgetary Expenditure by Appropriation
 21,428
Vote 193—Employee Benefits   179
115,368
  PROVINCE OF BRITISH COLUMBIA
BRITISH COLUMBIA ENERGY COMMISSION
Description
utilities; also supervises the Provincial Energy ConSe
Special Warrant No. 11—Supplement—Energy Conserva
1,900,000 New Technology
80,000 Special Warrant No. 49—Supplement—All Activities
Vote 114—Salary Adjustments .
 MINERAL RESOURCES BRANCH
Regulation Act. This division provides regulation and teci
Tie Titles Division, whose responsibility is to administer th
L Economics and Planning Division carries out econ
 PROVINCE OF BRI
M RESOURCES BRANCH
Titles Divisions, as well as the Mediation and Arbitration Board. Under the direction of the Assists
Branch is responsible for the Administration of the Petroleum and Natural Gas Act, the Drilling Re
d for study ar.
diture by activi
313,917 Geological Divis
232,557 Titles Division
:mporary assistant
Less Transfers
11,360
 jte80                                            GRANTS AND SUBSIDIES PROGRAM
Description
Provides funds for mine rescue competitions through grants to Mine Safety Ass
ciations througho
t the Province.
Grants are provided to Chambers of Mines to support their work in training o
ish Columbia, as a
■C*an" ^^ b'ce'"ive m ™ a'so pr°vided f°r'" th'S pr°8ram
Actual Ex
ditures
)te 81                                                   MINERAL ROAD PROGRAM
0 areas of high m
neral petroleum
igction potential.
Expenditure by activity
■ 375,000         Omineca Road 	
C ooo'fjoo                    Totalofvote
 j	
848 924
■ 700,000         Main Etimates
~^
B 200,000         Special Warrants Nos. 10 and 32—Supplement—Omenica Ro
d
Expends by —classification
4,9.2
8^316
l03'078
848,924
 F BRITISH COLUMBIA
ASSISTANCE PROGRAM
MINERAL RESEARCH PROGRAM
Description
Expenditure by star
Professional and
 j surveys, geophysical analyses, ;
MINERAL EMPLOYMENT PROGRAM
 2 PROVINCE OF BRITISH COLUMBL
e 86 ENERGY RESOURCE EVALUATION
Description
165,225        Coal Resource Evaluation 	
386,000 Mineral Exploration Assistance 	
551,225 Total of vote 	
BUILDING OCCUPANCY CHARGES
COMPUTER AND CONSULTING CHARGES
Expenditure by sti
 ENVIRONMENT
MINISTRY OF ENVIRONMENT
Summary of Budgetary Expenditure by Appropriation
 PROVINCE OF BRIT]
DETAILS OF BUDGETARY EXPENDITURES BY APPROPRIATIONS (VOTES)
AND ACTIVITIES, AND BY STANDARD EXPENDITURE CLASSIFICATIONS
l MINISTER'S OFFICE
ss Transfers
Vote 114—Salary Adjustment
Vote 193—Employee Benefit:
 ENVIRONMENT
1 ie 90
GENERAL ADMIN.STRATIO
1     Provides for
over-all policy direction and administrative support for
he Ministry,
ncluding office
of the Deputy
tant Deputy Ministers, personnel administration, comp
e Appeal Boa
1 jits, studies, o
her agency programs (recoverable) and membership fee
s in support
f the Ministry's
objectives.
LRpriations
Expenditure by activity
ndirures
1     1,284^456
o™isismition : ■	
'572304
[{j}
ahernagency programs'^., of recoveries)
9,677
||
Special Warrant No. 4—Supplement—Grants
2,689,408
liE.729 856
Travel expense  .' '.	
Vote 193—Employee Benefits 	
19L923
58^851
572,304
 D86
PROVINCE OF BRITISH COLUMBIA
Vote 91
RESOURCE AND ENVIRONMENT MANAGEMENT
Description
Fish and W
ldlife provides for the conservation of fish and wildlife resources and the habitats they requl
nter-agency resource planning systems. Research is also conducted to increase knowledge us!
urces provides for the management and economic development of the oyster and marine plant irffl
for these responsibilities under the British Columbia Fisheries Act and Fish Inspection Act;
rovince at international fisheries negotiations; it functions as a liaison between Provincial and|
gement provides for the administration and control of the use of surface water and the adn n trl 1
s Act, Dykes Maintenance Act, and dam safety inspections.
gement provides for the administration of the Pollution Control Act, the Litter Act, an| 1
rams including Project SAM.
Environmen
Mef °estTc7deeanT™sleS"'*"*' WaSteWate^•sedimentS'air' veSetation'andsoilforenvironj
C°n banning an
1 Development provides for environmental studies and assessments, and major engineering fuJ 1
Okanagan Basin
construction and operation of flood control works; implements the Fraser River Flood Contj
alysis provides an inventory function by assessing capability and suitability of land for various put  1
Mapping provides control surveys, aerial photography, primary base mapping, and progra  1
Environmen
al Health Engineering provides consulting services to Provincial health units and Municipal o  1
respecting drinki
g water supplies, swimming-pool operation, sewage disposal, and solid wastes.
Appropriations
Actual Expenditures    1
10,586,358
Fish and Wildlife          10,990,827
2,077,738
Marine Resources             2,284,344
Water Management            3,419,266
Pesticides Control                425,248
2,482,617
16,158,506
3,062,891
Surveys and Mapping . ZZZZZZZZZZZZZZZZZZZZZZZZ.         4i78o!o45
422,908
49,559,812
Total of vote          48,8!
47,568,812
Main Estimates
250,000
Special Warrant No. 8—Supplement—Planning and Development
1,495,000
Special Warrant No. 33—Supplement—Marine Resources
Special Warrant No. 46—Supplement—Environmental Laboratory
49,559,812
Expenditure by standard classification
Salaries          26,104,152
29,503,490
Office expense                                                           W152
Office furniture and equipment                                                      ,59^,4
 ENVIRONMENT
D87
Wrontin
^Materials and supplies	
2,350,987
Rentals—outside suppliers	
Grants, contributions, and subsidies 	
Less Transfers
Vote 193—Employee Benefits 	
Vote 200—Pre-retirement Leave  	
'424!
1,788 ^925
L526J632
56,038
50,867,757
=
ENVIRONMENT AND LAND USE COMMITTEE SEC
Description
iecision. The goa
monment and Land Use Act, the committee is en
ronment and the development and use of land
ndLand
dUseC
Tre
jjj
lee (ELUC) of Cabinet.
Appropriations
Actual Expenditures
H 364^74
E aecutive officflnd administration
228,277
341,517
Total of vote	
'
Expe^imre by standard classification
171
164
I
320
643
Less Transfers
33,963
50,035
 PROVINCE OF BRITISH COLUMBIA
PROVINCIAL AGRICULTURAL LAND COMMISSION
id. The Commission advises and assists
 EMERGENCY PROGRAMME
 IF BRITISH COLUMBIA
SALMONID ENHANCEMENT PROGRAM
Expenditure by activity
325,856
182,352
352,120
276,324
North Central Coast En]
559,635
Fraser River-Lower Mai
353,713
Vancouver Island Enhan
 ENVIRONMENT
VALLEY WILDLIFE MANAGEMENT
 PROVINCE OF BRITISH
BUILDING OCCUPANCY
Expenditure by standard classifi
Rentals-outside suppliers ..
COMPUTER AND CONSULTING CHARGES
Statutory
. LAND COMMISSION ACT (l1
Statutory
POLLUTION Ct
 MINISTRY OF FINANCE
Summary of Budgetary Expenditure by Appropriatioi
12,500 6,046,761
 E AND SUPP0R1
 FINANCE
:E OF THE COMPTROLLER-GENERAL
 PROVINCE OF BRITISH I
COMPUTER AND CONSULTING SERVICES
Description
 PURCHASING
 D 98 PROVINCE OF BRITISH COLUMBI,
Vote 105 TAXATION Al
VIutuel Betting Tax Act, Cigarette and Tobacco Tax Act, and Hot jM_
inch administers the Mining Tax Act, Logging Tax Act, Corporaiil
Probate Fees Act, Succession Duty Act, and Gift Tax Act. The B tl
587,781 Real Property Taxs
Vote 200—Pre-retirement L
 ASSESSMENT ACT APPEAL BOARD
1299,000 Special Warrant No. 34—Supplem
GOVERNMENT AGENCIES
 PROVINCE OF BRITISH COLUMBIA
Vote 108
INTEREST ON PUBLIC DEBT
Description
Appropriations
Actual Expenditure 1
Expenditure by standard classification
GRANTS, CONTRIBUTIONS, AND SUBSIDIES
Description
Provides fo
grants and subsidies administered by the Ministry.
Appropnat.ons
Expenditure by activity
Actual Expenditure 1
300,000
Power and telephone line beautification'	
308,063
6,750,000
S^S^i^SSiiS"^'
l§§
1,500,000
4,750,000
Operating grant"". .'.'.' '. .'.'.'	
4,750,000
525,000
50,000
11,989
16,585,000
^ri&rc^^i^EWtir^tP^B^H
'7,'25'°00
11,621,515
 INTEREST ON DEPOSITS
■825,749 Interest on Official Guardian deposits   K
flf 10,000 Interest on Cemetery Companies Act deposits 	
ia/ Guardian Act (R.S.B.C. 1960. Chap. 268, Sec.
;E SHARE DISTRIBUTION
 :E OF BRITISH COLUM
INCIDENTALS
Led Money Deposits Act (Set
charms              "                                                  	
Expenditure by standai
Temporary assistanc
Temporary assistanc
R VARIOUS STATUTES
  PROVINCE OF BRITISH COLUMBI
Expenditure by standai
Statutory
 MINISTRY OF FORESTS
Summary of Budgetary Expenditure by Appropriation
 MINISTER'S OFFICE
Description
I
 Less Transfers
Vote 114—Salary Adjustme
Vote 200—Pre-retirement le
 OF BRITISH COLUMBIA
SUPPORT SERVICES PROGRAM
Description
 9.768,594
2L728'573
Oteex0n^rrehineryandeq
 2,426,469         Range manageme
9,773,584 Engineering 	
Warrant No. 15-Supplement-
Professional and special
 FORESTS
Vote 122 F
Vote 200—Pre-retiremen
 RESERVOIR CLEARING
Description
 Data systems and
Office furniture ar
 PROVINCE OF BRITISH COLUMBIA
INTENSIFIED FORESTRY PROGRAM
BUILDING OCCUPANCY CHARGES
 Expenditure by standard ch
  MINISTRY OF HEALTH
Summary of Budgetary Expenditure by Appropriate
 \
PROVINCE OF BRITISH COLUMBIA
DETAILS OF
AND ACTIVI
BUDGETARY EXPENDITURES BY APPROPRIATIONS
TIES, AND BY STANDARD EXPENDITURE CLASSIFIC
128
169
Eg
m
MINISTER'S OFFICE
Description
25
re by
             136
Vote 114—Salary Adjustment
Vote 193—Employee Benefit:
 HEALTH
ADMINISTRATION AND SUPPORT SERVICES
nd proposed operations and pr<
Expenditure by ac
PlanningTd°d!
Special Warrant No.
 ,0 PROVINCE OF BRITISH COLUMBIA
iterials and supplies 	
ntals—outside suppliers ..
 93—Employee Benefil
 D 122
Vote 131
PROVINCE OF BRITISH COLUMBIA
DIRECT CARE COMMUNITY SERVICES
health and supportive
379,281 Community Care Licensi
14,087,126 Long-term Care Program
9,150,495 Home Care Program ....
16,766,000 Special Warrant No. 38—Supplement—Long-term Care Program
960,000 Special Warrant No. 52—Supplement—Home Care Program
38,503,352
Expenditure by standard classification
Salaries          53,407,590
Temporary assistance   5,607,704
59,015,294
Travel expense  .' '.  537^661
Professional and special services   2,142,542
Office expense     225,415
Materials and supplies   5,0731364
Rentals—outside suppliers   L608
Vote 114—Salary Adjustments         5,721.316
Vote 200—Pre-retirement Leave"!'.!!!!!!!!!! 129165
)4,684,730
 support—Provides executivt
Expenditure by activity
 IVINCE OF BRITISH COLUW
L PROGRAMS:
       70O,64SB
Vote 114—Salary Adjustments
Vote 193—Employee Benefits .
■ Vote 200—Pre-retirement Leave
MEDICAL SERVICES
59,000,000
 •S COMMISSION
2,377.000 Special Warrant No.
 PROVINCE OF BRITISH COLUMBIA
FORENSIC PSYCHIATRIC SERVICES COMMISSION
 ALCOHOL AND DRUG COMMISSION
B330.546 Total of vote
BUILDING OCCUPANCY
 PROVINCE OF BRITISH COLU
I AND CONSULTING
jlumbia Systems Corporation fi
Statutory
REFUGEE SETTLEMENT PROGRAM OF BRITISH COLUMBIA ACT (1979, Chap. 27, Sec. 5)
 MINISTRY OF HUMAN RESOURCES
Summary of Budgetary Expenditure by Appropriatioi
 MINISTER'S OFFICE
505
538
835
193
 ADMINISTRATION Ai
I direct services to people throughout the Provin
49,007 Community Project
: 193—Employee Bene
 PROVINCE OF BRITISH COLUMBIA
SERVICES FOR FAMILIES AND CHILDREN
Description
Adoption Program—Provides
4,577,625
SEo?
16.248,682
3,438
8.408
■FaSySuCp^oV
L
 '—
Hfote 142—Cont
Grants, contributions, and subsidies
68,791,406
Vme200^re-retireteri!eTve
*"£
66,745,589
Vote 143
HEALTH SERVICES
Descr
ption
EoAINfor
Sc^eranTcMdreSn-c^ heal
Hneed
dof8al
s
fctg
:. GAIN for
.ill
Expenditure by activity
b!006!0521
dilures
Total of vote
59 263 779
'
52.573.173
J61.573.I73
-Pharr
nacare
Program
 PROVINCE OF BRITISH COLUMBIA
Y PROJECTS
:m for employ^
dally to helpret
lently for Equality (L.
;r to liv d ,    d   tl
ir the physically handicappej
3,534,765
521,149
125,082
Expenditure by activity
6 335 731
Ass'lmU'cetyfHUti1 "^TdPt ""'' "^
Total of vote 	
  D 136 PROVINCE OF BRITISH COLUMBIA
Vote 146 SPECIAL PROGRAMS FOR THE RETARDED
Vote 114—Salary Adjust
Vote
 SHELTER AID FOR ELDERLY RENTERS AND RENTERS' 1
Shelder Aid for elderly ret
 ■
«*CE OF BRITISH
R AND CONSULT
Description
ING CHARGES
orpaymen
■
bia Systems Corpo
Actual Expend^ ill
===|
Expend
turebys
andardcla
 MINISTRY OF LABOUR
Summary of Budgetary Expenditure by Appropriation
ccupational Environment and Compensation Ad
Services 	
156   Human Rights Programs 	
159   Boards of Review (Workers' Compensation Board
uilding Occupancy Charges  	
West Kootenay Schools Collective Bargaining .
33,215,136
1,575,734
5,739,738
'656!948
1,566,441
50,745,271
240,116
33,459
51,018,846
51,018,846
 MINISTER'S OFFICE
Description
 MINISTERIAL ADMINISTRATION — SUPPORT SERVICES
 PROVINCE OF BRITISH COLUMBIA
JOB TRAINING AND EMPLOYMENT OPPORTUNITY
Expenditure by ac
o!505 Apprenticeship
nt Opportunity Programs .
Less Transfers
Vote 114—Salary Ac
Vote 193-Employe«
 OCCUPATIONAL ENVIRONMENT AND COMPENSATION ADVISORY SERVICES
 SAFETY ENGINEERING DIVISION
Description
Vote 114—Salary Adjustments
Vote 200—Pre-retirement Leave
  D 146
PROVINCE OF BRITISH COLUMBIA
HUMAN RIGHTS PROGRAM
Description
d^S^^^
hiding the administrationH 1
n, the Human Rights Branch, 1
Appropriations
Actual Expenditures 1
Expenditure by activity     ||
211,127
445,821
453,316
711,952
8
==|   1
Expenditure by standard classification
68!506
55,066
656,948
Vote 157
LABOUR RELATIONS BOARD
established by
or the administration of the Labour Relations Board and the Iegisla
,vejurisd,tionofmeBoaj
Actual Expenditures J  1
'        1
-ill
Special Warrant No. 66
Expenditure by standard classification
1,095,670
196,575
94,613
40,701
72,477
26,355
13!l88
Office furniture and equipment 	
Other expenditure  	
1,576,824
1,566,441
 D 147
Vote 158
ESSENTIAL SERVICES ADVISORY AGENCY
K
the payments of remuneration to members and expenses of the agency
sestablishedunderthe&senfia/
Appropml,™
Total of vote
Actual Expenditure^
'
Expenditure by^anda* classification
35!450
117,667
Vote 159
BOARDS OF REVIEW (WORKERS' COMPENSATION B
3ARD,
appellate agency
S^f^Sfr^Hlpl
K 6^jj°2
Ex^diturebya.iviry
389,389
Total of vote
 ''               14 698
'
MrS
Main Estimates
Statutory—Revenue Act (R.S.B.C. 1960, Chap. 341, Sec. 55 (3
Travel expense 	
Office expense 	
Office furniture and equipment 	
'256
374!691
 PROVINCE OF BRITISH COLUMBIA
BUILDING OCCUPANCY CHARGES
Statutory
ils Collective Bargaining Assi:
 MINISTRY OF LANDS, PARKS AND HOUSING
Summary of Budgetary Expenditure by Appropriation
Ss? Hi
2,322,651         69,570,172
2,322,651         67,681,689
No. 3—Crown Land Devc-
 OF BRITISH COLUM1
MINISTER'S OFFICE
 LANDS, PARKS AND HOUSING
233 Social Progran
 JVINCE OF BR1
LAND MANAGEMENT
307,455 University Endow.
1,343,641 Legal Surveys ....
■6 Total of vo
Special Warrant No 2—Supplement-
Travel expense 	
Professional and special
Office expense 	
 PARKS AND OUTDOOR RECREATION
te 200—Pre-retirement Leave
 PROVINCE OF BRITISH COLUMBIA
FINANCIAL AND ADMINISTRATION SERVICES
Expenditure by standi
ILDING OCCUPANCY CHAR'
   —
MINISTRY OF MUNICIPAL AFFAIRS
*f|S)
Summary of Budgetary Expenditure by Appropriation
sij  «
Eli                  Tol.l                   NT                                                         D-rip,™
I0J43
0,000
0,000
il
100      173   Central Ministry Services 	
000      175    Building Occupancy Charges   !.
500      176   Computer and Consulting Charges 	
"if
6,076          ...                     216
076                   Less recruitment savings                                                       221,365,723
9,454
12,500       237,991
954
221,365,723
 L
 GENERAL ADMINISTRATION
 PROVINCE OF BRITISH COLUMBIA
1ANTS, CONTRIBUTIONS,
 TRANSIT SERVICES
 PROVINCE OF BRITISH COLUMBIA
BUILDING OCCUPANCY CHARGES
AND CONSULTING CHARGES
 r
Summary of Budgetary Expenditure by Appropria
179   Heritage, Cultural, Recreation, Sports, and Fitness Pro-
I    Grants, Special Services, and Events 	
i   Agent-general's Office and British Columbia House "!!!
>   Legislative Library 	
i Queen's printer!!!!!!!!!! !!.!!!!! !!!!!!!...!!.!!!!!!.
Public Inquiries Act	
435,000 300.
202   Queen Hi
2,658      2,658
8,362,007  188.787,269
1,563,929
8.362,007  187,223,340
 IF BRITISH COLUM
MINISTER'S OFFICE
 GENERAL ADMINISTRATION
F 150,000        Special Warrant No. 12—Supplem
Vote 200—Pre-n
85
366
59
i
22
004
-.lUUp
759
 D 166                                                 PROVINCE OF BRITISH C
Vote 179         HERITAGE, CULTURAL, RECREATION, SPOR
TS AND FITNESS PROGRAMS
Description
Provincial Museum and resource museums—The Provincial Mu
seum is charged under the Proraicia
with increasing its knowledge of British Columbia's human and
Provincial Archives— Provides a record of the history and develc
manuscript, and map collections, as well as visual records of photo
graphs, lithographs, paintings of si
Heritage Conservation Program—Responsible for the direction
of the Province's Heritage Conserv
Recreation, Sports, and Fitness Branch—Discharges the respc
nsibilities of the Provincial Govern
Cultural Services Branch—Responsible for the development an
Province, the administration of the British Columbia Cultural Fu
ment, as set out by the Library Development Commissioners who are
appointed by the Provincial Secreta
i',173        Library Services Brar
1,844 Total of vote
4,285,140
1,025,557
1,590,279
1,788,682
Less Transfers
Vote 114—Salary Adjust
 GRANTS, SPECIAL SERVICES, AND EVENTS
Expenditure by ac
1,665,225 Grants Program
Special Warrant No. 64—Supplement—Specia
Professional
 PROVINCE OF BRITISH COLUMBIA
IBLIC INFORMATION AND PUBLICATIONS
INDIAN ADVISORY ACT
 Description
utenant Governor of British Colun
 PROVINCE OF BRITISH COLUMBIA
AGENT GENERAL'S OFFICE AND BRITISH COLUMBIA HOUSE
i7,095 Total of vote
D7,095
50,000 Special Warrant No. 22—Supplement-
Expenditure by standard classification
 : 114—Salary Ad uslment
r^
840
in
517
[  250,000 Special Warrant No. 6
Expenditure by standar
270
534
967
398
6,138
601
234
8S
600
102
377
Tii6
i84
 PROVINCE OF BRITISH
QUEEN'S PRINTER
  74 PROVINCE OF BRITISH COLUMBIA
:e 190 UNEMPLOYMENT INSURANCE AND WORKERS' COMPENSATION
Expenditure by activity
PUBLIC INQUIRIES ACT
 19,856        Statutory—Public Elect
 >F BRITISH COLUMBIA
GOVERNMENT EMPLOYEES RELATIONS BUREAU
 IE COMMISSION ADMINISTRATION
mem and Selection Divil
 PROVINCE OF BR1
SALARIES AND BENEFITS — SUNDRY EMPLOYEES
C SERVICE ADJUDICATION BOARD
 Legislative Assembly St
British Columbia Power Commissior
Workers' Compensation Board Supe
 PROVINCE OF BRITISH
iC SERVICE SUPERANNUATION AND RETIREMENT BENEFITS
»!000 Death benefits re pi
24!si0
995
59,860
776
8,492
Z
1,333
67,116
653
SUPERANNUATION ACT
 ,L SECRETARY AND Gi
ce Extended Health and Der
'Ian, grants and retiring alio
Public Service Extended E
Public Service Group Insu
4,950,000 Pre-re
d Health and Dent
 Vote 201
1,200,000
PROVINCE OF BRITISH COLUMBIA
PARLIAMENT BUILDINGS RESTORATION
| the costs of employees who maintain and repair the Parliament Bi
Expenditure by standard classification
689,054
IWP^rfinery and equipmem
1,059,462
=
QUEEN ELIZABETH II BRITISH COLUMBIA CENTENNIAL SCHOLARSHP A<
 —
PROVINCIAL SECRETARY AND GOVERNMENT SERVICES                           D 183
Vote 203
BUILDING OCCUPANCY CHARGES
Description
accommodltion
Apprapmii.™
Total of vote                                                                             M ^"""'Hp 279
'
pH£
Vote 204
COMPUTER AND CONSULTING CHARGES
Description
servicer"^0
r payments to the British Columbia Systems Corporation for data processing and management consulting
■ l^ooo
35H
'
1.435.000
■     300,000
J 1,735,000
vsres*,    .
"S™™"^"**"
  MINISTRY OF TOURISM AND SMALL BUSINESS DEVELOPMENT
Summary of Budgetary Expenditure by Appropriation
209   Building Occupancy Charges
 IF BRITISH COLUM
MINISTER'S OFFICE
1,139 Total
ss Transfers—Vote 1
GENERAL ADMII
Professional and special
se™«s 	
Vote 193—Employee Bern
 TOURISM AND SMALL BUSINESS
Vote 207 TOURISM
 \~
PROVINCE OF BRITISH COLUMBIA
SMALL BUSINESS DEVELOPMENT
Description
encouPragVidnewr
dust^ta
"coZlTint md promo,ional prosraras designed ,0 assi
1,487,015
Total of vote
Expend!
,re by standard classification
Trave
Profe
Office
Office
Adver
s—outside suppliers 	
BUILDING OCCUPANCY CHARGES
Description
 TOURISM AND SMALL BUSINESS DEVE
COMPUTER AND CONSULTING CHARGES
al Expenses, London, England, and Califomii
Statutory
ct (1976, Chap. 45, Sec. 74(2))
Expenditure by standar
  RANSPORTATION. C
Summary of Budgetary Expenditure by Appropriation
50,000     216   Gov,
Highway Maintenance 	
Hydro Development—Highwa
16,750,000     228   Building Occupancy Charg
   PROVINCE OF BRITISH COLUMBIA
HIGHWAY
3,583 Road and bridge mainten
8,596 Ferries 	
2,179 Total of vote 	
36,000 Special Warrant No. 53—Supplement—Ferries
 TRANSPORTATION. .COMMUNICATIONS A
926,873
206,046
93,004
54,000   .
-
1,279
923
iS
''319054
174!678
* =s
""^i
g
485
7 600'328
B
179 204
?«
111
ii
402,406
100,000
-
-
—
502
406
L826!566
1.07L190
,34^33
z
z
3!o32
289
478!212
202!567
''ssS
■
69!533
669,356
**_~xi
H
225
11
154!485
12!683
213,871
J;5
-
7!524
l
2,367!338
31,374
674!227
110,042   ,
3,393,033
5,791
2'l48'425
W&jM
255'241
403,304
z
4'236
023
295!757
64J65
40,025
—
wpp*
399
347
1,808!268
1,097,115
102,402
857,365
z
3,853
150
3!714!749
1,830!234
ii
1,157,303
=
2!o8C
i
4,596,903
2,009,519
372.289
27,384
~«ji
7!(»6
095
''577J36
224!890
H'\ll
48L952
z
''65C
222
1,215,893
94o!943
26!091
174,228.
-
2,357
155
4!47o!97i
1,893!973
429!306
1,139,866
*Z:^Z ■
7^934
116
3,521,948
L257!362
274,827
78,293
iSasL
s!l32
430
947!875
''495!813
*49!743
29^905
^!*».«
L388
336
' 57
648,065
13,578
13,107
—
M.m
674
825
194,371
77,454
z
z
Z
205
27,109
720
26,511
—
—
54
2,068,191
429,410
69,795
673,895
Z
3,181
2,405^34
325!784
9,971,659
688
-
—
—
101,504
—
101
504
z
32,252,431
6,818,321
2UTit054
fill
(43^13
948)
96,379,079   '
155,233
342
 PROVINCE OF BRITISH COLUMBIA
HIGHWAY CONSTRUCTION — CAPITAL
35,624
^gi^pllicaUtion1se°,. !!	
              112
                72
-outside suppliers 	
-intra-ministry 	
         28,257
           7,309
insfers
252.901
200—Pre-retirement Leave  	
3,100          , m
 SUMMARY OF EXPENDITl
Vote 214—Highway Cons
RE BY DISTRICT.
3,648!643
4.740,685
603.136
79,725
1,703,866
12,585,213
l,319!976
5,'89o!536
632!854
2,'447!596
3,'543
6!402!308
25.243
5.538,519
2,'64s!o20
'705!o35
625^65
627,832
707,'5I6
,440,952
239,'545
596!752
54!o78
,212,707
211,632
1,050,638
7.727
9,574,508
871,958
I.31L620
3,736!598
133,843
593,146
2,032,091
' 49!253
1,501,982
D197
,-Edmonds
631,064
1,703,866
Hp11*
1,752,979
3,769,675
753,892
8,281,305
188,355
384!425
Bon Head
|rge North
8,142,084
2,844,902
 HYDRO DEVELOPMENT —
: right-of-way acquisition, planning, engineerin;
ncial Highway 23, Revelstoke to Mica Creek, and
36,000,000
35,488,234 Less recoveries .
511,766 Total of v
buildings          28,520,594
32,366.551
sh Columbia Hydro and Power Authority 31,854,785
 D RESIDENCES MAINTENANCE
ENGINEERING BRANCH
Description
Sroprialions
■ 472'3565
ETdminisru^fonC'iVi,y
2,2.806
R^rr^TT
Total of vote
	
684 743
Rentals—outside suppliers 	
Acquisition—machinery and equipment
K551
724,335
684,743
 OF BRITISH COLUMBIA
WEIGH SCALE BI
Expenditure by standai
te 114—Salary Adjustmen
te 193—Employee Benefit
te 200—Pre-retirement Le
 \TION. COMMUf
MOTOR VEHIC
582
993
'°W
355
4795
832
Z
335
IAH
17.6
790
362
971
18.134
119
 PROVINCE OF BRITISH COLUMBI
MOTOR CARRIER BRANCH
Vote 114—Salary Adjust
Vote 193—Employee Be
Vote 200—Pre-retiremen
  OF BRITISH COLUM1
SERVICES BRANCH
Vote 193—Employee
Recoveries
Other ministries 	
 H COLUMBIA FERRIES—.'
2.883,075 Special Warrant No. Ii
 >F BRITISH COLUMB
TELECOMMUNICATIONS SERVICES BI
 te 227 COMMUNICATION SYSTEM DEVELOPMENT Al
BUILDING OCCUPANCY CHARGES
 PROVINCE OF BRITISH O
COMPUTER AND CONSULTING CHARGES
: British Columbia Systems Corporation for data processing and management consu J
2,646,100 Total of vo
 INTERGOVERNMENT RELATIONS
MINISTRY OF INTERGOVERNMENT RELATIONS
Summary of Budgetary Expenditure by Appropriation
  MINISTRY OF UNIVERSITIES, SCIENCE AND COMMUNICATIONS
Summary of Budgetary Expenditure by Appropriation
Legislate
Special Wan
107,500 No. 41—>
  NONBUDGETARY EXPENDITURE
Summary of Nonbudgetary Expenditure by Appropriation
Special Purpose Funds
™*~ own Land Fund (B.C. First Mortgage
 D 214 PROVINCE OF BRITISH COLUMBIA
DETAILS OF NONBUDGETARY EXPENDITURE
Advance to Crown Land Fund (British Columbia First Mortgage Program)
Ministry of Lands, Parks and Housing Act (Chap. 20, Sec. 7 (2)) 	
Expenditure by standard classification
,   Transfer to Special Purpose Fund        200,000,000
Advance to British Columbia Assessment Authority
Assessment Authority of British Columbia Act (1974, Chap. 7, Sec. 17 (4)) 	
Advance to British Columbia Systems Corporation
Other expenditure   5,000,000
Special Warrant No. 28   7,400,000
Special Warrant No. 48   1,800,000
Grants, contributions, and subsidies   9,200,000
Canada-British Columbia Natural Gas Revenue Sharing Agreement
   IS APPROPRIATIONS
REVENUE SURPLUS APPROPRIATIONS
Revenue Surplus of 1977/78 Approc
ise in Provincial Home-owner Grant (Sec. I
te
Job Experience Progr
am (Sec
Iff))
in
Provmcia
Home-owne
r Grant
(Sec. I
1*e^ati
nal Facilitie
Progra
m (Sec.
AND Hi
Highwaj
m(Sec
Extensio
n Upgrading
(Sec.
al Debt (Se
Appropriations to Special Purpose Funds
2!50o!o00 Victoria Fund 	
25,000,000     Lower Mainland Stadium Fund Act 	
|37.500,000
Special Purpose Appropriation Act, 1979
30,000 Industrial Research Program (Sec. I (f)) 	
30,000 Stabilization of Health and Hospital Costs (Sec. 1 (0) 	
Tourism and Small Business Development:
30,000 Metropolitan Small Business Assistance Program (Sec. 1 (e)) ....
30,000        Purchase of shares (Sec. I (d»	
 PROVINCE OF BRITISH COLUMBIA
DETAILS OF EXPENDITURE
Revenue Surplus of 1977/78 Appropriation Ac
19,021,372
5,000,00
 IS APPROPRIATE
re by standard .
:d Highway Construction Progran
 PROVINCE OF BRITISH COLUMBIA
iritish Columbia Railway Company
Fort Nelson Extension Upgrading Program (Sec.
al Debt (Sec. I (a)).        26,100,j
Expenditure by sti
 REVENUE SURPLUS APPROPRIATIONS
D221
Appropriations to Special Purpose Funds
Appropriations
Vancouver and V^toria Trade and Convention Centres Funds Act
Actual Expenditures
'
^^gBJSJL^
1 2-500.000
'
Expenditiire by standard classification
L»
'
^^s^^^w
^000
Special Purpose Appropriation Act, 1979
Legations
Actual Expenditures
E 5'000'00°
Expenditure by standard classification
J5.000.000
Health
'
H^^^^c^sif^
15,000.000
^e^^^^^SZ^tamtSec.Ue,.
           5.000-000
^r*^"z
^000
 Expenditure by standai
 SUMMARY OF FUND BALANCES AT MARCH 31, 1980
id Capital (Perpetual) Funds
andCigai
-ette Educ
/flfMM
riband, Rejiab^i
ationFund
teur Sport
or Expend
SrS
jjgjjj
and Ciga
ette Educ
tion, Preventio
J and Rehabili
ation Fund
and Am
teur Sport
Fund	
25,000,0(
25,000,0(
20,000,0(
tCrown Land Fund—
Miscellaneous Statutory Accounts
 PROVINCE OF BRITISH COLUMBIA
DETAILS OF TRANSACTIONS
iL (PERPETUAL) FUNDS—CAPITAL ACCOUNTS
British Columbia Cultural Fund
Drug, Alcohol, and Cigarette Education, Prevention, and Rehabilitation Fund
First Citizens' Fund
iL (PERPETUAL) FUNDS—CURRENT ACCOUNTS
British Columbia Cultural Fund
Originally created as the "Centennial Cultural Fund" by the Centennial CulturalFund Act(1967, Chap. 2). Sect
ie people of the Province. The name of the Fund was changed effective March 31,1972, pursuant to the Cente
 Drug, Alcohol, and Cigarette Education, Prevention, and Rehabilitation Fur
Temporary ass
st Citizens' Fund
i Surplus Appropriati
1.730.526
Physical Fitness and Amateur Sports Fund
 OTHER FUNDS
Accelerated Reforestation Fund
:h 31, 1972, under the Accelerated Reforestation Fund Ac
:e Stabilization Fund
jilization Fund Act (1967, Chap
 r
SPECIAL PURPOSE FUNDS  .
Crown Land Fund
he Department of Housing Act (1973 (2i
I First Mortgage Prograt
  SPECIAL PURPOSE FUNI
Lower Mainland Stadium
 PROVINCE OF BRITISH COLU!
i by the .Revenue Sharing Act (1911, Chap. 62)
this Fund from the Consolidated Revenue Func
sing incentives, planning and administration, w;
iunicipal Affairs (Vote 172) 	
891,935
840,000
280,000
of $10,000,000, foraTr
ia Trade and Convention Centre Fund
 Dairy Producers' Protection Fund
 Domestic Animal Prot
:d or kept by him. an    tl
:s, and cost assessm.   1
 SECURITIES DEPOSITED WITH THE GOVERNMENT AS AT
MARCH 31, 1980
PURSUANT TO THE INSURANCE ACT, CHAPTER 197, R.S.B.C. 1!
Citi Corporation Trust Co                                                                                                                    275
000
Bommeree Cnilal Trust Co                                                                                                                                               700
nnn
■ edit p      .     T        -
,.
nno
Sown Trust Co                                                                                                                                           300
000
Exchequer Trust Co                                                                                                                                       25
000
licue^uebec Compte tauebeoTmst)'!.^                                                                                 ^50
000
i   GarTV Tnls, r„                                                                                                                            ,n,
nnn
land Trust and Savings Corporatio
nLtd
000
Metronolitan Tmsl Co                                                                                                                                             225
000
Hontreal Trust Co
200
nnn
Morgan Trust Co                                                                                                                                           25
nnn
lational Trust Co  Ltd    The                                                                                                                                  300
nnn
Eorfolk and Retailers Trust and Sav
ngsCo
200
nnn
Borth West Trust Co  Ltd   The
273
000
pncipal Savings and Tmsl Co                                                                                                            240
nnn
loval Trust Co   The                                                                                                                                              325
nnn
Eestern Pacific Trust Co
133
70-1
Berkshire Tmsl Co                                                                                                                                       276
100
  British Columbia Assessment Authority      F   2
British Columbia Buildings Corporation      F   7
British Columbia Cellulose Company  F 14
British Columbia Development Corporation F 20
British Columbia Educational Institutions Capital Financing Authority   F 25
British Columbia Ferry Corporation F 33
Briiish Columbia Harbours Board F 48
Etish Columbia Health Care Research Foundation   F 53
^tish Columbia Housing Management Commission F 57
British Columbia Hydro and Power Authority F 65
British Columbia Liquor Distribution Branch F 84
Mtish Columbia Petroleum Corporation F91
British Columbia Railway Company   F 97
Briiish Columbia Regional Hospital Districts Financing Authority  F 108
Briiish Columbia School Districts Capital Financing Authority   F 116
ffitish Columbia Steamship Company (1975) Ltd  F 129
Rtish Columbia Systems Corporation   F 138
felth Facilities Association of British Columbia   F 146
Emsing Corporation of British Columbia F 153
Burance Corporation of British Columbia  F 164
Legal Services Society   F 172
radical Services Plan of British Columbia   F 178
»:an Falls Corporation F 182
Rific Coach Lines Limited  F 189
Elvincial Rental Housing Corporation F 203
Eience Council of British Columbia   F 211
Surrey Farm Products Investments Ltd. (formerly Panco Poultry) F 216
|.S. Holdings Ltd  F 221
Eliversities Council  F 229
Eban Transit Authority   F 234
Brkers' Compensation Board of British Columbia  F 242
 BRITISH COLUMBIA ASSESSMENT AUTHORITY
lurplus for the year then ended. My examinat
iccordance with generally accepted auditing i
iccordingly included such tests and other pre
and the results of its operations
modified by note 1 to the financie
sent fairly the
s^***"-
 BRITISH COLUMBIA ASSESSMEN
AUTHORITY
STATEMENT OF FINAN
IAL
P0SIT1
AS AT DECEMBER
31,
1979
1979
1978
I ASSETS
I Current Assets
Cash & short term deposits
Accounts receivable
S 3,543,400
362,568
S 2,324,235
249,240
3,905,963
2,573,475
B Property & Equipment - at cost (Note 1)
Buildings
Furniture 4 equipment
Motor Vehicles
178,000
223,249
1,397,247
709,621
178,000
223,249
1,334,863
686,386
2,508,117
"2,422,498
S 6,414,085
S 4,995,973
LIABILITIES 4 EQUITY
Accounts payable 4 accrued charges
S 1,027,258
. S  846,115
I Employees' Past Benefit Fund (Note 4)
238,077
203,000
1 Equity
Operating'surplus - Exhibit B
Property 4 equipment - at cost
I
te 1)
2,640,633
2,508,117
5,148,750
1,527,360
3,949,858
S 6,414,085
S 4,995,973
«___—=
 1 =
Approved by the Board
D.C. Morton - Chairman
<^%yV^Y
 F BRITISH COLUMBIA
BRITISH COLUMBIA ASSESSMENT AUTHORITY
STATEMENT OF REVENUE, EXPENDITURE AND OPERATING SURPLUS
FOR THE YEAR ENDED DECEMBER 31, 1979
Operating
Capital
diture
Employees'
nd (Note 4)
S 4,750.000
1,500,000
$ 4,210,06
1,500,0C
Tax levies
Interest
Other income
6,250,000
17,900,318
385,826
508,569
5,710,06
16,399,84
240,3
515,83
$ 25,044,713
S 22,865,9]!
S 17,015,59,
53,1}
1,349,74
930,8
1,483,75
1,424,9
198,5; j
EXPENDITURE
Salaries & fringe bene
Directors' fees & expe
Accommodation expense
Travel
Office
Professional & special
Property & equipment
$ 18,539,587
54,660
1,386,017
989,163
1,709,997
1,085,180
128,759
23,893,363
22,456,63
Excess of Revenue Over Expe
Operating surplus at beginn
Less: Appropriation to
Past Benefit F
1,151,350
1,527,360
(38,077)
409,29
1,318,Of
(200,00
S 2,640,633
S 1,527,36]
 PUBLIC ACCOUNTS 1979/80
BRITISH COLUMBIA ASSESSMENT AUTHORITY
NOTES TO FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 1979
Significant Accounting Policies
These financial statements have been prepared in accord
accepted accounting principles, except that:
a) Property and equipment are charged to operations at
ponding credit to equity. Upon disposal, the origi
Authority does not record depreciation expense.
b) The Authority does not record accrued vacation pay,
would not have a material effect on these financial
Finances
The Authority is entitled to receive from the Province
a) annual capital grants of $1,500,000 for a period of
b) annual opera
ile property in the Province. In lieu there
■ived grants of 54,200,000 in each year up t
I and $4,750,000 in 1979.
in Council, each year imposes and levies a tax upon all taxable
in the Province. A copy of this by-law is forwarded to the Tax
of every municipality in the Province and to the Surveyor of
that the taxes so levied will be placed on the tax rolls. The
ter of Finance constitute the Authority's tax levies revenue.
 SRITISH COLUMBIA
BRITISH COLUMBIA ASSESSMENT AUTHORITY
NOTES TO FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 1979
Under Section 16(3) of the Assessment Authority of British Columbi
the Authority's annual tax levies are to be "at a rate sufficient
maintain the operating fund". The operating fund is defined unde
Section 16(2) as "the total amount required to meet the annual ope
and capital expenses of the Authority". Section 16(3) further sp
that in determining the rate of taxation to be levied "the Authori
shall take into account the amount of the annual operating grant".
However, in determining the annual tax levies, both the capital an
operating grants from the Province of British Columbia have been t
into account.
Employees' Past Benefit Fund
Relevant to the formation of the British Columbia Assessment Autho
and with reference to Section 20(l)(a) of the Assessment Authority
British Columbia Act, the Authority has negotiated an agreement wi
those designated employees whose previous working agreements conta
clauses which called for payout of certain benefits upon the death
retirement or termination of the employee.
The
amount resulting from this
t December 31, 1979, and v,
teen years.  In order to
tab!ished in 1978 w
in each year
; obligation fully funded i
$566,706
251,712
182,657
53,819
Tie due and payable over the next
s obligation a fund of $200,000
 BRITISH COLUMBIA BUILDINGS CORPORATION
Balance Sheet
Liabilities and Equity
Geo,geAR19shy.Di,ec,orC<iX^
Dennis F. Truss. Ouector^  .j^W^
AUDITORS'REPC
GwC*, (K^J:^. tVlXu^a Co.
 F BRITISH COLUMBIA
Statement of Income
Statement of Retained Earnings
 Statement of Changes in Financial Position
Financial Resources Were Provided By:
Financial Resources Were Used For:
 PROVINCE OF BRITISH COLUMBIA
 PUBLIC ACCOUNTS 1979/80
FI1
|,B*,„g, Corporal
is to the Financial Statements
fedHrir^
-*-""""
R~3«
lid^H
B^S
ePcosVoTinScomeyprodudng
^jSieSrrarty^^^^B^Boccupancy or subs,an
la, completion. Prior ,„
Bfe£;^S8tejJBHnB^B|
WmSmSm
■KfThB^^
fflBftjM|
Ptoe^!h'et%°,dintennJea?s°dUCin9 "* '""""^ P'0Pe,1ieS f "^^ ^ ^ '°"y yea'S' The e
.ima(ed useful life of all olher
R Funds
-----™
^-Producing Properties                                                                                                                        1980
I
lvalue, beginning o. yea,
■
Bang properties                                                                                                         _1^
1
lvalue, end o. year                                                                                                    "3^
i
*                                                                                                            1
 PROVINCE OF BRITISH COLUMBIA
Notes to the Financial Statements
L
 Notes to the Financial Statements
 BRITISH COLUMBIA CELLULOSE COMPANY
COOPERS & LYBRAND
Province of British Columb
-nerally
accepted au
other proce
nancial
.suits of
position of
its operat
? balance sheet of British Columbia
jer 31, 1979 and the statements of
; financial statements present fair
my as at December 31, 1979 and the
:he changes in its financial position S  I
ice with generally accepted accounting
insistent with that of the preceding
^LuLci^L
CHARTERED ACCOUNTANTS
 PUBLIC ACCOUNTS 1979/80
BRITISH  COLUMBIA CELLULOSE   COMPANY
BALANCE  SHEET AS  AT  DECEMBER 31,   1979
11
,528
107,
413
4,97.
,895
4,157,
20^
,239
158,
,000
,662
620,
5,9U
5,043,
818
3,40
,872
,116
6,029,
5,
872
LIABILIT1
SHAREHOLDER   |   S
ITAL STOCK (note 4)
1INED EARNINGS
R0Vj»r5^Y? THE  DIRECTORS
M^^T    Director
9,107
031
9,107
033
9,328,650
 BRITISH COLUMBIA CELLULOSE COMPANY
STATEMENT OF EARNINGS AND RETAINED EARNING
FOR THE YEAR ENDED DECEMBER 31, 1979
1979
BEFORE EXTRAORDINARY ITEM
Provision for loss on Ocean Falls
NET EARNINGS (LOSS) FOR THE YEAR (note 5
RETAINED EARNINGS - BEGINNING OF YEAR
CONTRIBUTED SURPLUS (note 3)
RETAINED EARNINGS - END OF YEAR
1,380
86
320
222
1,466
542
232
376
583
(1,384,959)
538
10,4-91,990
95,lffl
19,849]
9,107,031
115,493
105,0o"
9,107,031
10,491
 PUBLIC ACCOUNTS 1979/80
BRITISH COLUMBIA CELLULOSE COMPANY
STATEMENT OF CHANGES IN FINANCIAL POSITION
FOR THE YEAR ENDED DECEMBER 31, 1979
OCE OF WORKING CAPITAL
I|f WORKING CAPITAL
lances to 0.c
■payment of t
Irchase of fixed assets
MEASE (DECREASE) IN WORKING CAPITAL
MING CAPITAL - BEGINNING OF YEAR
■ING CAPITAL - END OF YEAR
620,000
1,236,071
1,236,071
t,456,974
1
286
220
63^6
(590
214)
170
185
620
000
790
185
2,000
000
449
872
171
2,450
043
(1,659
858)
6,116
832
4,456
974
ING CAPITAL - END  OF YEAR
 NOTES TO FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 1979
1.  SIGNIFICANT
2.  CORPORATE LOANS
Ocean Falls Corporation
Plateau Mills Ltd.
4,029,872
4,029,872
2,006
4,64f
6.64S
Less:  Current portion
:or
620,000
3,409,872
620
6,029
The loan to Ocean Falls
$2,000,000 is with int
he principal amoun
of
Lus 1/2%]
fixed and floating cha
prior debenture to the
rge
Pr
Dece
spec
2 of
31,
fie
Bri
1979.  Security i
tish Columbia.  In
by way'
.t only
' of Ocean Falls to repay this loan is
?he loan to Plateau Mills Ltd. is with interest at prime bank lenc
$155,000 to June 1986.  Security is by way of fixed and floatinf
charges on Plateau's assets, subject to a prior debenture of
$4,500,000.
 NOTES TO FINANCIAL S
FOR THE YEAR ENDED DECEMBER 31, 1979
SSIDIARY COMPANIES
On March 9, 1978 the company declared a specie dividend to the Crown in
right of the Province consisting of all of its shares owned in
' Plateau Mills Ltd.  In addition, advances from the Province of British
Columbia, totalling $19,849,421 including interest, were forgiven and
are included in retained earnings.  These transactions were part of an
I arrangement by which the Province exchanged these shares and certain
f other assets for shares of British Columbia Resources Investment
Corporation.
|:apital STOCK
1979     1978
11,000,000  commoi
ssued and fully  i
ally-owned  by  the Province  of Bri
NC0ME TAXES
Provincial Crown Cor
■ ECTORS1 REMUNERATION
■ gRATIONS AT OCEAN FALLS, B.C.
^utilization wood operation at Ocean Falls, B.C. using certain
■facilities to be transferred from the Ocean Falls Corporation.  The
■decision to proceed with this project will be made early in 1980.
 F 20                                           PROVINCE OF BRITISH COLUMBIA
BRITISH COLUMBIA DEVELOPMENT CORPORATION
CONSOLIDATED BALANCE SHEET a
> at March 31,1980
1980
$ il
S 45,616,141
Land and development projects (Note 3)
47,097,013
3|
Investment in leased properties (Note 4)
6,057,510
Cash and short term deposits
4,871,540
ll
3,125,422
 1
Premises and equipment (Note 5)
441,489
Trust assets (Note 6)
17,943,751
$125,152,866
s m
Liabilities
Accounts payable and accrued liabilities
$   7,430,127
Deposit on land development project (Note 7)
12,000,000
Term debt (Note 8)
36,317,608
2I
55,747,735            4l
Trust liabilities
17,943,751
Shareholder's equity
Share capital (Note 9)
42,500,000
4
Contributed surplus
5,836,057
Retained earnings
3,125,323
51,461,380
8125,152,866        S {!
Contingent liabilities (Note 10)
Approved by the Directors
Director
Director
 BRITISH COLUMBIA DEVELOPMENT
C0RP0RATI0
F21
RjDATED STATEMENT OF EARNINGS AND RETAINED EARNINGS
eyear ended March 31,1980
1980
1979
$ 4,568,065
S 1,971,262
Land and development project sales (Note 7)
8,085,459
633,954
394,621
954,159
532,310
Iher
445,161
94,188
14,686,798              9,891,514
Bf land and development project sales
6,902,496
6,038,598
2,738,488
2,091,774
1,416,269
1,213,479
548,064
483,313
253,627
123,467
257,392
100,475
89,579
68,348
54,226
56,684
12,260,141
10,176,138
1 Expenses applied to land and development projects
1,818,420
1,944,881
10,441,721
8,231,257
ings before the following
4,245,077
1,660,257
779,562
78,183
2,183,964
518,234
2,963,526
596,417
amings for the year
1,281,551
1,063,840
ned earnings, beginning of year
1,843,772
779,932
| ned earnings, end of year
$ 3,125,323
S 1,843,772
 F 22                                              PROVINCE OF BRITISH COLUMBIA
BRITISH COLUMBIA DEVELOPMENT CORPORATION
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS March 31,1980
1 .                1. Accounting policies
The consolidated financial statements include the accounts of the Corporation and its wholly owned subs
Duke Point Terminals Ltd.
have been madefor estimated futoe^OKeson bans and guarantees in the amount of 83100,000 (1979-S
,550,000).:
ments neld°for sal?are carried"!1 the lower of cost and estimated net realizable value. Cost includes, i
of other expenses.
e. Contributed Surplus
ncyfordea
19
consWerationTs creditedTo contributed surplus. If land is acquired for immediate resale, 70% of the ellm
f. Presentation
Com parative revenue and expense figures for 1979 have been reclassified to conform with the 1980 prese
2. Status of the Corporation
The British Columbia Development Corporation is incorporated pursuant to the Development Corpo
3. Land and development projects
To
S 4,3 j
18,7 J
822,807,604            824,289,409            547,097,013
S34,3j
The Corporation leases land and developed properties under various agreements with terms ranging Up to
As leases are generally financing arrangements, they are accounted for as sales.
1980
sU|
Total minimum lease payments receivable                                                                         S5.810.081
Estimated residual values                                                                                                     247,429
2,e 1
86,057,510
S5.5J
Minimum lease payments receivable in each of the next five years, including amounts representing related fi
amount to 81,032,000 annually.
 PUBLIC ACCOL
m
*^
»||
I'ES TO THE CONSOLIDATED FINANCIAL STATEMENTS March 31,1980, continued
Se::"clScarrieda,cos,,con
sistof:
8248,277
702,170                   629,570
8441,489
8446,560
fcnTgreementwiththeGovernmentof
s(L.I.L.A.)
j£
»,«»
orationactsasagentanda
dministrator
S 2,635,189
15,308,562
3,163,455
at funds committed andundisbursed und
S 9,693,220
S 2,872,250
Corporation has agreed to deliver to tl
umbia, on notice, 120 acres of serviced in
Idebt
e Ministry of Ind
ustriallandatDuk
stryanc
nconsiderati
to the public
1980
■
1979
5% Promissory Note payable to the Min
nbia?dije^eptemb
r 15,198
29,000,000
23,000,000
1 Mortgage on land and buildings, due December 31,1999, or
1 Bbonately as the tenant vacates the property, with interest
§is prior to the due dates at bank prime rate plus one percer
from
3,150,270
3,150,270
lam to the°Shb Cd°aVerZeeet °f To *\°
mbia,
 536,317,608 S28.75
5 42,500,000 S 35,000,000
00 (1979-86,250,000).
 PROVINCE OF B
Changes in industrial development program;
$27,777,617
6,676,536
21,101,081
Net additions to programs
Deposit on land development project
Net change in other assets and liabilities                                                              2,611,949
Contributed surplus 5,790,968
Net earnings for the year 1,281,551
To the Honourable Donald M. Phillips,
Minister of Industry and Small Business Development,
Province of British Columbia.
We have examined the consolidated balance sheet of Briti
i and other procedures as
ir opinion, these consolidated financial statements present fairly the financial position of the Corpc.-
:h 31,1980, and the results of its operations and the changes in its industrial development programs f o til
ended in accordance with generally accepted accounting principles applied on a basis consistent with tlBF
g^msA
 AUDITOR'S REPORT
; as at 31 March 1980 and the statement of receipts and
lents for the year then ended.  My examination was made
lance with generally accepted auditing standards, and
|ly included such tests and other procedures as I
.nion, these financial statements present fairly the
. position of the Authority as at .31 March 1980 and the
>f its operations for the year then ended in accordance
srally accepted accounting principles, as modified by
> the financial statements, applied on a basis
it with that of the preceding period.
^^Q&7>*
Ictoria,   British  Columbia
1 June  1980
 F 26 PROVINCE OF BRITISH COLUMBIA
RITISH COLUMBIA EDUCATIONAL INSTITUTIONS CAPITAL FINANCING AUTI^
STATEMENT OF ASSETS AND LIABILITIES
AS AT 31 MARCH 1980
ASSETS
Loans to educational inst:
(note 1 and schedule)
Less sinking fund instalmi
$  59,831,000   $  25,291
976,910        12
LIABILITIES
.ong-term debt (note 3) $  59,831,000
:ing funds on
the ^
(note 4)
976, 91(
an integral
Approved by the Authority:
Hugl/A Cu/ti's, Chairman	
Jell, Secretara
 PUBLIC ACCOUNTS 1979/80 F 27
TISH COLUMBIA EDUCATIONAL INSTITUTIONS CAPITAL FINANCING AUTHORITY
STATEMENT OF RECEIPTS AND DISBURSEMENTS
FOR THE YEAR ENDED 31 MARCH 1980
of Authority debenture
$  34
540
000
3
578
54
627
133
38
972
533
$     25
291
121
000
877
950
054
25
861
881
lucational institutions 34,540,000 25,291,000
lid on long-term debt 3,578,627 447,877
i  paid into sinking funds 799,773 121,950
income allocated to
14,133
1,054
 F28
PROVINCE OF BRITI
H COLUMBIA
BRITISH COLUMBIA ED
3NAL INSTITUTIONS CAPITAL
FINANCI
NG AUTHS 1
NOTES TO FINANCIAL STATEMENTS
AS AT 31 MA
RCH 1980
1.   The Author
ity
The Author
ity
was e
3tablished by the British
Co
Lumbi
1 In
jrity
Ac
. 19
authority
Se
ction
3 of the Act states "The
purpose
of
the! 1
sd educationa
finance th
capital expenditu
res by purchasing deb
issued by
with
i by the issue
id sa
le of 1
debentures
of
the authority."
Loans have
bee
n made by the Aut
lority prior t
he r
pt °,t
ty.  At the
va
of
the
financial
debentures
had been received as
lling
$3,000,000.
As a tempore
rv
the I
is h
ave g
of Undertaking
debentures
for
the
-emaining am
junts.
2.   Significan
count
ng policies
The accoun
s o
f the
Authority a
-e maintained
on
a ca
sh
nasis J
modified t
ng
investment
Sinking funds
are maintained by
the Trustee,
the Min
1st
»r off
Finance of
nee of Brit
sh Columbia,
ide
foil
of
-ity debentu
Sin
instalment
earned on s
nking fund ir
tmen
correspond
ng
ment of the
income by the s
3 f
trustee ha
sflected in the statement
of
ipt
disburseme
its.
3.   Long-term debt
a)  Author
zed
to 3
March 1980
Order-
n-Counci
_
Date
Amount
1554
8 June    1978
?25
000,)
827
20
March  1979
$75
000,)
2702
19
October 1979
? 1
025, 1
 PUBLIC ACCOUNTS 197
F29
JMSH COLUMBIA EDUCATIONAL INSTITUTIONS
CAPITAL FINANCING AUTHORITY
NOTES
TO FINANCIAL STATEMENTS
AS AT 31 MARCH 19
b)  issued to:
1980
1979
Plan
investment Fund
[series   Rate
Maturity
IGG-1     9.41%
g
June     1998
$ 5,000,000
$ 5,000,000
GG-2     9
82%
10
January  1999
757
000
JA«7,757,000 , V
GG-3    10
16%
9
12
534
000
12,534.000
GG-4    10
26%
10
April    1999
5
000
000
GG-5    10
02%
8
June     1999
2
500
000
GG-6    10
49%
10
775
000
GG-7    10
68%
November 1999
198
000
GG-8    11
50%
10
5
042
000
GG-9    12
74%
10
March   2000
6
000
000
"
58,806,000
25,291,000
Irovince of Brn
tish
Columbia, Public
■ Service Superannua
tion Fund
AA-1    10.875%
15
October  1989
1-, 025,000
"
$59,831,000
$25,291,000
The Province of
unconditionally
the payment of
princ
ipal and interest
on long-term debt.
1 debentures issu
ed to
the Canada Pensi
on Plan Investment Fund are
1 redeemable in whole
maturity at the option of
the Minist
Fina
nee of Canada.
 F BRITISH COLUMBI.
IRITISH COLUMBIA EDUCATIONAL INSTITUTIONS CAPITAL FINANCING AUTr^J
NOTES TO FINANCIAL STATEMENTS
AS AT 31 MARCH 1980
Sinking funds
119,00l
1,93^
;  of $1,505,054 are  due  in  each of  tl
 IHfTISH COLUMBIA EDUCATIONAL INSTITUTIONS CAPITAL FINANCING AUTHORITY
SCHEDULE OF LOANS TO EDUCATIONAL INSTITUTIONS
AS AT 31 MARCH 1980
1980 1979
9.41% to 12.74%, due 1998 t
. 11.5%, due 1998 and 1999.
1999 and 2000.
Douglas   College:
0.875%  to  11.50%,   due  1989 t
999,   inclusive.
$      25,775,000
$     12,000,000
14,200,000
7,700,000
9,556,000
5,591,000
3,950,000
%H1
1,200,000
7"£m
2,150,000
£2**
2,000,000
-
$      59,831,000
$     25,291,000
  BRITISH COLUMBIA FERRY CORPORATION
f&terhouse&Ca
I March 31, 1980 and the statements of operations, retained earnings, changes
n financial position and accounting policies for the year then ended.  Our
fecessary in the circumstances.
of the Corporation as at March 31, 1980, the results of its operations and the
ges in its financial position for the year then ended in accordance with
1/wc-   CJa/Hlot+t, £ Go.
 PROVINCE OF BRITISH COLUMBIA
BRITISH COLUMBIA FERRY CORPORATION
BALANCE SHEET
34,770,661 35,016,843 1
254,500,579 235,7
 409
629
944
14,972
487
3,266
063
13,764
316
151
950
32,154
816
J
665
180
12
138
845
600
15
513
250
260
31
950
705
SHAREHOLDER'S EQUITY
^.tributed surplus (Note 2)
s of appraised value of t
 Pr
PROVINCE OF Bf
m
COLUMBIA
Y CORPORATE
STATEMENT 0
OPERATIONS
1980
19gj|
Tolls
ill
60,377,636
17,933,492
1,101,528
$  54,23
14,2jS
1.13B
79,412,656
69,637!
Less:  C
7,839,503
6,4391
Salarie
expenses:
s,  wages  and t
eneflts
71,573,153
63,197!
50,690(
56,207,472
20,270,582
19,354<
Contrac
d  lubricants
Is,  operating
supplies  and
12,103,783
7,582,908
10,057!
6,314:
7,355,505
8,132!
3,449,166
4,009!
fees
loss  before  s
1,996,453
1,728(
108,965,869
100,287 3
37,392,716
37,089 5
equival
Income  fr
of British Col
umbia highway
49,447,325
46 5rJ|
12,054,609
9,47l
Other  inc
Income  fo
r the year bef
8)
item
3,454,724
2,882*1
15,509,333
12,357,5
Net incom
ick leave  liab
e for the year
ility (Note 5)
3,048,3
$
15,509,333
$     9,308,)
 BRITISH COLUMBIA FERRY CORPORATION
STATEMENT OF RETAINED EARNINGS
Year ended March 31
1980 1979
Retained earnings at beginning of year             $ 51,361,893 $ 23,371,934
lj|et income for the year                            15,509,333 9,308,790
fixed assets over assigned value on
■■acquisition January 1, 1977 of amount
realized through depreciation provisions
and disposals                                  18,654,114 18,681,169
■Stained earnings at end of year                  $ 85,525,340 $ 51,361,893
 BRITISH COLUMBIA FERRY CORPORATION
STATEMENT OF CHANGES IN FINANCIAL POSITION
I sick leave liability
ion for self-insurance
i retirement of fixed ass
1 reserved funds assets
of long-term debt
1 self insurance fund liabilit
$ 15
,509
333
„*,$
,270
582
500
000
366
176
960
013
*Sv
606
217
812
104
463
196
39
635
763
39
368
593
1
598
050
42,715,587
(3
079
824)
998
$ 19
798
174
$ 19,798,174   $ 22,£
 BRITISH COLUMBIA FERRY CORPORATION
STATEMENT OF ACCOUNTING POLICIES
ories comprise principally spai
erating supplies, and are value
uired from the Province of British Columbia effective January 1, 1977:
Ships, which comprise part of the total assets acquired from the
Province effective January 1, 1977 by Order-In-Council dated
December 16, 1976 and transferred at an assigned value of $1,
have been revalued by the Corporation and are reflected in the
accompanying financial statements at their estimated depreciated
replacement value as at January 1, 1977 on the basis of construction
records for labour and materials valued at 1977 cost exclusive of
any federal ship building subsidies which may have been available
during the extended period of years during which the individual ships
were built and during which such subsidies fluctuated substantially.
The estimated depreciated replacement value of the ships at January 1,
1977 is not intended to reflect fair market value of the fleet nor can
specialized nature and limited saleability of the ships themselves.
1994 are subchartered to the Corporation for the same period at an annual
cost of $1 each, with the Corporation being responsible for all operating,
with the Province, the Corporation may in 1994 request that the Province
accordance with the terms of its charter agreement.  In the event that
 PROVINCE OF BRITISH COLUMBIA
these ships are reflected as capital assets of the Corporation in the
accompanying financial statements and are similarly stated at their j
estimated depreciated replacement value as at January 1, 1977.
Berths, buildings and equipment-
Berths, buildings and equipment also comprise part of the total asset!
acquired from the Province effective January 1, 1977 by Order-In-Couni
dated December 16, 1976 and transferred at an assigned value of $1.
rhese assets are reflected in the accompanying financial statements al
their estimated depreciated replacement value as at January 1, 1977
Ltions and disposals subsequent to January 1, 1977:
The costs of major replacements, additions, extensions and improve
are capitalized in the fixed asset accounts.  The costs of maintenance,
On retirement or disposal of fixed assets, the costs thereof and t
related accumulated depreciation are eliminated from the accounts
any gains or losses are reflected in the statement of operations.
ansfers to retained earnings are based upon realization of appre
rough sales and retirements, and depreciation provisions with re
assets acquired from the Province as at January 1, 1977.
 PUBLIC ACCOUNTS 1979/80
Self-insurance  fun
Buildings  and equipment 4  to  25 years
Id  improvements  are amortized on the  straight   line method
e term of the   lease plus  renewal  option.
 m
42                                              PROVINCE OF BRITISH COLUMBIA
BRITISH COLUMBIA FERRY CORPORATION
NOTES TO  FINANCIAL STATEMENTS
MARCH 31,   1980
1.     In
March 31
1980                       1979
Spare components,  parts
and  supplies                                                                $5,046,770         $4,829,8691
Fuel and   lubricants                                                       1,586,578                458,3731
Goods  for resale                                                              319,790               309,4151
$6,953,138         $5,597,6571
2.     Re
erved funds:
Th
Corporation has  segregated assets   that are required  for specific  puj
or
are required by statute.
Si
king fund for long-term debt-
Effective January 1,  1977 and pursuant to the British Columbia
Ferry Corporation Act,  all  the  liabilities  of  the British Columbia!
Ferry Authority in respect of  the  payment of  the  principal and
interest on  the  outstanding bonds and  debentures  of  the  British
Columbia Ferry Authority were assumed by  the  Corporation,  and all
money and  investments   in  or   forming   part of  the  sinking  fund
established  for repayment of those bonds and debentures were  transl
to and vested  in  the  Corporation.   The  sinking  fund   is  administered!
Ministry of Finance.
This   sinking  fund  is  reflected in  the accompanying balance  sheet
at cost  for  investments  acquired after January  1,   1977  or at market
value as at January 1,  1977  for investments  transferred at that darl
The difference between the market value of  the investments  transfel
as at January 1,   1977 and the principal amount of the long-term deb)
outstanding at that date is  shown as contributed surplus under
shareholder's equity.
 1
PUBLIC ACCOUNTS
F43
Notes
Page  2
and accrued sick leave   liability-
'
Funds reserved with respect to the s
.lf-insurance anc
accrued sick
leave  liability provisions are held
Ln short-term co,
imercial security
'Reserved funds  comprise:
1980
31
1979
debt  (Note 4):
Cash and accrued  interest
Investments   (market value  -
$16,424,018;   1979  -
$19,961,898)
$  1,490,180
17,868,565
20,710,922
Fund  for accrued sick leave
liability (Note  5):
Accrued  interest
Due  to general operating funds
Self-insurance  fund:
Due  to general operating funds
19,358,745
21,250,367
85,625
(94,627)
3,275,0.65
3,266,063
3,048,600
3,048,600
1,750,000
(1,598,050)
1,250,000
151,950
1,250,000
$22,776,758
$25,548,967
3-
Fixed assets:
March 31,  1980
March 31,
1979
Appraised        Accumulated
Value             Depreciation
Net Book
Ships owned        $148,358,804      $31,404,511
$116,954,293
$118,038,412
capital lease    61,833,971          8,525,846
53,308,125
55,583,761
and equipment    62,613,824        22,585,189
Construction in
progress               44,209,526
40,028,635
44,209,526
43,442,612
18,703,959
$317,016,125      $62,515,546
$254,500,579
$235,768,744
i
 fill
PROVINCE OF
BRIT1S1
COLUN
No
Pa
je :
4.    Long-term de
Hp
Effective Ja
luary 1
,   1977 and
pursua
the Bri
tish Columbia Fe
rry
Co
-poration
\ct,  al
1  the  liabi
of the Briti
sh Columbia Ferr
f
;;-T*|t
:horlty in
respec
t of the pa
yment
of the
pal and interest
onl
ou
.standing
id debentur
es of
the Br
itish C
olumbia Ferry Au
thoi
we
e assumed
by the
Corporatio
a and
all mo
ney and
investments  in
>r
fo
ming part
of the
sinking fu
nd est
ablish
ed  for
repayment of  tho
3e t
and debentur
transfer re
nd ves
ted in
the Corporation.
Th
Series
Lngbon
Is and debe
atures
as at
March
31,  1980 are as
Due Date
toll
fff&T'""**
single- i-
U.S
$10,000,000
$ 5,463,000
5
00%
00%
October 15,
November  1,
1982
Canadian
dollar
equivalent
has b
een ex
pressed
at the exchange
rat
pr
. Janua
-y 1,  1977.
If t
ted at
the exchange rat
pr
vailing a
. March
31,   1980 t
ie Can
adian
dollar
equivalent of th
cu
poi
tion of t
is deb
t would be
mcrea
sed by
approx
Lmately $331,000
and
re*
fining Po
tion would be   inc
reased
by approxima
tely $712,000.
The
Province
ofBri
tish Columb
Launc
onditi
Dnally
guarantees  the p.
yme
pr
ncipal an
inter
.st on  thes
2 bond
res  and will  pay
out
it
Consolid
ted Re
/enue   Funds
such
sums a
smay b
. required  to di
chi
th
se liabil
ties   i
i the event
that
the si
iking fund assets are  i
sui
foi
that pur
h respect
U.S.   $1,
pectively
)10,000
Les F,  prin
cipal
and p
ayable
s   of U.
3.   $1,733,000,  U
s.j
rued sick
leave
lability:
On
1,  1978 the Corpo
luced a
short-term illne
 long-term disability plan and as  of that date all employees  ceased
employees,   in  the event of illness,   the accumulated sick time may be
Withdrawn prior  to retirement and on retirement any balance  remaining
is payable  in cash at 50% of accredited  time.     An actuarial evaluation
■$3,048,600.     Funds  reserved  for  liquidation of this   liability are invested
■ 1980 of $94,627 has been charged against  the  liability.
Self-insurance  fund:
I   provided  $1,750,000 between January 1,   1977 and March 31,   1980 by way
of self-insurance  to provide  funding  for uninsured  losses  up  to  this
■amount.     Funds reserved  for  this  purpose are  held  in short-term commercial
I security investment.     It is   the Corporation's  intention  to make  further
■ provisions  sufficient to cover deductible amounts as  determined by the
■Corporation upon continual review and revision  to  its   insurance coverage.
■ Charged to operations and included in general expense was  $500,000 for
■the year ended March 31,  1980 and  $500,000 for  1979.
■ $1,598,050 representing the cost of repairs to the M.V. "Queen of Alberni"
and other related costs in connection with the grounding on August 9, 1979
has been charged to  this  fund.
The amount of the subsidy received by the Corporation from the  Province
of British Columbia is substantially equivalent to  the aggregate of the
Humual cost of maintaining,  and the annual amortization of the capital
■ cost of,  a  two-lane highway built through difficult  terrain in  the coastal
■region and of a length  equal to that of the  ferry routes operated by the
 >VINCE OF BRITISH COLUMBIA
for repayment of long-term debt:
Sinking fund investment income
Net gain  (loss)   on disposals  of
Interest  expense on  long-term debt
$1,937,666
(960,013)
(191
896)
4,012
,796
(366
176)
$3,454
724
44,389,025 18,654,114
$51,361,893        $34,163,447
63,041
$85,5: I
 Corporation is contractually committed to the construction of two 1
ies and to bring up to class and to install overnight accommodation
he M.V. "Queen of the North". The total estimated cost of these pr
of federal shipbuilding subsidy, is $54.2 millions. At March 31, 1
estimated net cost to complete construction of the two ferries is
millions and to complete modifications to the M.V. "Queen of the No
2.6 millions.
illing $30.2 millions, including $1.6 million for
"Queen of Prince Rupert" in connection with a
ter to British Columbia Steamship Company (1975) I
1 by insurance or in the aggregat
 PROVINCE OF BI
BRITISH COLUMBIA HARBOURS BOARD
Office of the
Auditor General
Province of British Columbia
:xamined the statement
Harbours Board as at
then ended. My exar
y accepted auditing si
,ts and other procedure
. of financial position of the||
. 31 March 1980 and t
and changes in final
tination was made in accordance
standards, and accordingly :
iary 1
.on, these financial statements present fairly tl
>osition of the Board as at 31 March 1980 and th«|
>r the year then ended in accordance with gener;
:counting principles applied on a basis consiste^^
i preceding year.
r<3^*>
 PUBLIC ACCOUNTS 1979/80
ill
 OF BRITISH COLUMBIA
Exhib
"*]
BRITISH C
OLUMBIA
HARBOURS BOARD
STATEMENT OF INCOME A
ND RETAINED EARNINGS
forjeai
_ended_
March 31, 1980
1980
j
Railway
$3,049,667
$2,537
Rental
477,083
470
Interest
286,859
226
$3,813,609
$3,23!
105l
General administration
34,244
22
property expenses
82,816
74
59,777
80
Railway operations
729,465
711
135,236
101
Studies and reports
48,945
35
1,12!
1,185,327
2,628,282
2,106
Adjustments to prior years income
(593l
year
2,628,282
7,143,079
l,51t 1
5,631 1
Retained earnings at end of year
Exhibi
t A   $9,771,361
j^j
 BRITISH COLUMBIA HARBOURS BOARD
STATEMENT OF CHANGES IN FINANCIAL POSITION
for year ended March 31, 1980
of funds
income - Exhibit B $2,628,282    $1,512,470
t of advances (net), Pre
ritish Columbia
xpenditure on fixed assets
sase) in working capital   $2,711,950    $ (883,730)
|ng capital at beginning of year $1,182,661    $2,066,391
ing capital at end of year 3,894,611     1,182,661
$2,711,950     $ (883,730)
 PROVINCE OF BRITISH COLUMBIA
BRITISH COLUMBIA HARBOURS BOARD
NOTES TO THE FINANCIAL STATEMENTS
as at March 31, 1980
Note 1
Significant Accounting Policies
A.
Land, buildings, equipment and railway are valued 1
at cost to the Board plus grants in aid of
through Board land in the amount of $522,360.
Railway and grants in aid of construction include 1
$4,821,724 spent by Ministry of Highways on railwajj 1
overpasses.
B.
In 1974 the Crown in the right of the Province
granted the Board approximately 3,500 acres of land 1
below high water in the Roberts Bank area. The port 1
of this land used for railway right-of-way is
included in railway and grants in aid of construct! I
at $680,000 as valued by management after consultat 1
with independent appraisers.
C.
Depreciation on buildings and equipment has been
computed at 10% of the diminishing balance.
D.
By agreement between the Board and the users of its
renewing and replacing trackage as required.  In can
of abandonment the users are to compensate the Boar
in full for actual costs paid including land costs,
for sections abandoned.  Accordingly no provision f
depreciation has been made in respect of the railwa I
E.
The Board's railway is managed under contract by
British Columbia Railway Company which is responsibjl
for maintaining the right-of-way and for billing us
railways for costs and rent on behalf of the Board., 1
F.
Advances due to the Province of British Columbia ar
repaid from funds declared by the Board to be surpl;!
to its requirements.  Effective from April 1, 1976
the Board is not required to pay interest on these
Note 2
In
1976 the British Columbia Court of Appeal confirmed
Pro
vince's ownership of the bed of the Strait of Georgia
and
9 dated October 31, 1974.  This decision confirms til
Crown in right of the Province had authority to traJ
the Board about 1,700 acres of land below low water,!
bri
nging the Board's total land holdings in the Robertsl
a below high water up to 3,500 acres.  This area is
capable of development for harbour and industrial purpoS
not
e IB above) and Roberts Bank Superport.  An appeal bm
Gov
Can
ada from the decision of the British Columbia Court J
App
the area have been advised of a potential claim of tl
Boa
rd for ground rental but such a claim is contingent |
final outcome of the litigation.
 1—
PUBLIC ACCOUNTS 1979/8
F53
I       BRITISH COLUMBIA HEALTH CARE RESEARCH FOUNDATION
•Province of
Office of the
8 Bastion S uare
>      British Columbia
Auditor General
Province of British Colu
mbia
|B|
AUDITOR'S   REPO
To the  Chairma
l  and  K
embers  of  the
ffiitish  Columb
a  Heal
th  Care   Research  Foundat
ion,   and
To the  Minister  of  He
alth
Province  of  Br
tish  C
olumbia:
I have   examined   the  b
alance  sheet  of th
ish  Columbia  Health
-oundat
ion  as   at   31  March
1980
ind  the   statemer
t  of
re  and   surplus   for
2ar   then   ended.
My
made
gener
illy  accepted
auditing  stand
rds,   a
nd  accordingly  inc
Luded
such  tests   and  other
procedures   as
[  consi
dered   necessary  in
the   c
lrcumstances;.     •.
In my opinion.
these
financial   statemen
is  pre
sent   fairly  the
ion of
the  Foundation   as
at   31
March   1980  and
the
results  of  its
operat
ions   for  the  year
then   e
ided   in   accordar
with  generally
ed  accounting  prin
:iples
applied  on a  basis
of  the  preceding  y
fc&8j|
Auditor  Gener
C.A.
al
 PROVINCE OF BRITISH COLUMBIA
BRITISH COLUMBIA HEALTH CARE RESEARCH 1
>rporated under the Societies Act of Bri
BALANCE SHEET
AS AT 31 MARCH 1980
JNDATION
sh Columt
:32,570     $  1,61
LITIES
ints payable
i payable
BIT B)
 PUBLIC ACCO
UNTS 1979/80
BRITISH   COLUMBIA   HEALTH   CA
IE   RESEARCH   FOUN
DATION
XHIBIT   B
STATEMENT   OF   REVENUE   AND   E5
CPENDITURE   AND   S
URPLUS
FOR  THE   YEAR   ENDED
31   MARCH   1980
1980
1979
ENUE
^^■ibutions   from   the   Lottery   Fund
$      2,700,000
W^
2,700,000
nterest
357,030
201,350
3,057,030
2,901,350
jlTURE
14,994
:holarship   awards
127,500
60,000
Search   fellowships
16,000
fflth   Care   Research   grants   (note   2)
3,361,122.
1,173,372
3,573,345
1,248,366
iSS   (DEFICIENCY)    OF   REVENUE
'ER EXPENDITURE
(516,315)
1,652,984
'LUS  AT   BEGINNING   OF  YEAR
1,671,917
107,287
istment   for   change   in
■nting  policy   (note  1)
jgjll
(88,354)
'LUS   AT   END   OF   YEAR   (EXHIBIT   A)
$      1,155,602
$
1,671,917
 F 56                 PROVINCE OF BRITISH COLUMBIA
BRITISH COLUMBIA HE
*LTH CARE RESEARCH FOUNDATI
NOTES TO FINANCIAL STATEMENTS
mm
MARCH 1980
1.  CHANGE IN ACCOUNTING POLICY
The Foundation changed its
and expenditures, effective
the accrual basis of accoun
adjust surplus by $88,354.
iccounting policy for recor
1 April 1978, from the cas
ting.  The effect of this c
2.  GRANTS TO RESEARCH ORGANIZA
riONS
The Foundation paid grants
development projects at the
are administered and disbur
organizations listed below
are incurred by research staff,
expenses.
University of British Columbia
Simon Fraser .University
Cancer Control Agency of B.C.
and Research in Community Health
Cerebral Palsy Association of B.C.
Woodlands - Ministry of Human Resou
B.C. Perinatal Society
1980
$      2,904,30:
$ 874,85
48,00]
107, 82|
ipital
•e   Society
I
$      3,361,122
 BRITISH COLUMBIA HOUSING MANAGEMENT COMMISSION
AUDITORS' REPORT
Io The Chairman,
agement Commission,
pendlture for the year then end
h generally accepted auditing s
 PROVINCE OF BRITISH COLUMBIA
- 2 -
In our opinion,  except for the effect of any adjustments whicfl
incy revenues,and the provision for amortization,   these combined  financial]
grams as at December 31,  1979 and the combined results of  their operatiot
the year then ended in accordance with generally accepted accounting
 ? BRITISH COLUMBIA
H COLUMBIA HOUSING MANAGEMENT 0
Disaster loss fund
Fixed assets, at co
$ 3,500
000
571
308
1,089
690
173
523
209
212
89
620
9,687
211
055    1,481
iss
 PROVINCE OF BRITISH COLUMBIA
3   PROGRAMS
COMBINED STATEMENT 0
3,056        (1,103,327)
9.605      $(4.633,8:
 PUBLIC ACCOUNTS 1979/80                                                    F 61
S       s i H
I      1 Mi mil
§       I mmn
Ml. ™«M
i    wmmamsm
1     !lWipii^iiP|i^ii|iii I
p jifl)jiMp|i|i||||
ll
iilf fill §|
1
 PROVINCE OF BRITISH
Sub  i
i    Sha
rss
ag
of]
25:
75%
50%
50
Rent Supplement
llc?laZ -
44(1) (a) NHA
50%
50 1
High Impact Gr«
nts
44(1) (b) NHA
20%
80 I
As the subsidy sha
ing agreeme
nt for High I
mpact gran
tshas
notyl
been formalized,
ubsidy share
stlmat
'         1
gjorat
on in lieu o£
":;;::;
tot!
 C ACCOUNTS 1979/80
ly fifty y
nancial st
$192,491 greater than the amort
Monthly rental rates for individu
are determined on a basis where
of their income or the market v
The Province of British Columbia
Corporation have agreed to supp
by the Projects by absorbing th
t value rent is determined by t
it is the intention of the Com
  BRITISH COLUMBIA HYDRO AND POWER AUTHORITY
I.
^terhouse&COo
REPORT OF THE
ave examined the balance sheet of British Columbia Hydro and Power Authority
ness and changes in financial position for the year then ended and the
ement of bonds and debentures as at 31 March 1980. Our examination was made
ccordance with generally accepted auditing standards, and accordingly
I luded such tests and other procedures as we considered necessary in the
our opinion, these financial statements present fairly the financial position
Epish Columbia Hydro and Power Authority as at 31 March 1980 and the
ults of its operations and the changes in its financial position for the year
n ended in accordance with generally accepted accounting principles applied
la basis consistent with that of the preceding year.
fav  IJrU^M^^ *!<*>
, British Columbia
 HYDRO AND POWER AUTHORITY
BALANCE SHEET AS AT 31 MARCH 1980
FIXED ASSETS:
CURRENT ASSETS:
APPROVED BY THE DIRECTORS:
1980
(in thou
1979
sands)
$5,991,376
$5,339,
1,063,730
4,358,
4,927,646
1,042,777
1,030,
5.389J
5,970,423
1,393
j
.,. 315,743
392,
163,523
166]
535,735
612,
$6,547,768  $6,038,
'. Bonner, Q.C., Dii
 PUBLIC ACCOUNTS 1<
ERM LIABILITIES:
s  and  debentures,
Inferred  liabilities
(PENT LIABILITIES:
gnd and debenture payments  du
Kinking fund instalments
Maturities,   less  sinking fun
i jtributions arising from columbia river treaty
ntributions in aid of construction
Sings employed in the business
I HUTMENTS   (Note 7)
1980
(in tho
1979
$5,175,727
$4,739,482
35,555
35,270
5,211,282
4,774,752
25,000
50,000
8,928
12,674
227,670
201,230
139,588
122,788
48,181
48,100
46,693
471,060
384,792
414,612
423,826
146,213
127,752
$6,547,768       $6,0:
 BRIIISH COLUMBIA HYDRO AND POWER AUTHORITY
OF INCOME AND EARNINGS EMPLOYED IN THE BUSINESS
FOR THE YEAR ENDED 31 MARCH 1980
employee benefits
1980
1
$916,006
$86
144,296
175,773
71,176
118,925
^09.760
13
16
6
10
819,930
75
96,076
11
(55,918)
Jl
40,158
4
1 for 1980 (Not
 PUBLIC ACCOUNTS 1979/80
BRITISH COLUMBIA HYDRO AND POWER AUTHORITY
STATEMENT OF CHANGES IN FINANCIAL POSITION
FOR THE YEAR ENDED 31 MARCH 1980
Continuing operations-
Net Income for the ye
I Charges not affecting
f  continuing opera
Passenger transportation oper
Loss for the year
Charges not affecting curre
■Funds required by passenger
Contributions in aj
Return of payment i
Miscellaneous
piking funds-
Income  (Note b)
Retirement of bon
HBirement of Par
Lty Development I
Extraordinary ite
m - portion of lo
Kt passenger tr
asportation seirv
Ease in working capital exclusive of changes
118
,925
666
215
,667
(55
,918)
(53
118)
162
549
563
040
 (2_
136)
817
$754
800
48
887
33
106
25
000
 2
022
863
815
918)  (61,407)
159,799
473,722
18,815
36,500
115,998   131,845
$747,817  $691,446
 STA
BRITISH COLUMBIA HYDRO AND P0WEB
AUTHORITY
1980
[EMENT OF BONDS AND DEBENTURES AS
AT 31 MARCH
Rate %
Series
Date of Matu
Ity
1980
ousandiP l
PAYABLE I
J CANADIAN CURRENCY
ISSUED BY
BRITISH
COLUMBIA H
YDRO AND POWER
Bonds:
3-1/4
B
1 October
979  $
$   10,00
9-3/4
16 December
981
100,000 (1)
8-7/8
DT
2 January
25
000
25,00
1 May
982
32
32,49|
9-3/4
3 December
982
100
000
100,09
8-5/8
DW
19 February
100
000 (2)
100,00
12-1/2
5.46
FA
19 February
1 February
985
200
80
000
80,39
5.71
1 February
L988
001
95|ocl
6.68
W-C
3 February
989
65
862
65,86J
7.32
2 September
68
7.77
5-3/4
WE
18 April
991
1991
110
949
110,94 j
40, OCT
5-3/4
1 July
991
5
000
5,oca
AG
1 December
L991
20
000
20,0(1
7.10
AJ
2 March
992
109
25
182
25>11
6
BA
29 May
992
'-■■'2
500
2,5(
6.10
2 July
L992
10
10,Ot
6-1/4
BB
4 July
19 July
1992
25
000
25,0( 1
4,0( |
6-1/2
1 November
L992
20
000
20,00
6-3/4
BC
15 February
1993
1.993
10
300
10>21'
3,3 |
6-3/4
7.33
Z-T
C
15 February
9 March
1993
L993
15
73
200
847
15'1I
73,| |
AR
1993
000
10,01
5-1/4
D
1 May
L993
25
000
25,01
5-1/4
1 June
L993
10
10,01
7-1/4
AS
1 June
2 July
1993
1993
10
5
000
10,0 |
5,5'
5 August
1993
10
000
10,0 1
7
1 October
L993
10
000
io, a l|
Carried
forward
,425,829
$1,235,8'
 PUBLIC ACCOUNTS 197
-  2  -
^jS
p
Series
Date of Matu
rity
1980
(in th
1979
CABLE IN
CANADIAN CURRENCY
continued:
RITY continued-
$1,235,829
BUED BY
RITISH COLUMBIA HYDRO AND POWER
Brought
forward
$1,425,829
p-1/4
G
15 October
1993
15,000
15,000
|7
1  December
1993
12
800
12
n
Z-G
15 December
7
000
7
000
b-1/4
H
15 December
1993
10
000
10
5-1/4
J
1 March
L994
10
000
10
B.54
WH
4 March
L994
91
105
91
105
R-l/2
AW
31 March
1994
000
N/2
2  June
L994
25
000
000
5-1/4
2  July
10
000
000
P-5/8
1 October
994
30
30
000
CA
1  December
L994
000
000
K-l/4
15 December
994
20
000
20
000
8
CB
L994
15
000
15
8.78
WJ
7 February
609
5-1/4
15 March
995
10
000
10
000
83
CC
31 March
31 March
995
20
5
000
20
5
000
000
9-1/2
ET
1 June
995
25
000
25
000
8.92
WK
2 July
995
26
CE
995
10
000
10
000
5-3/8
15  September
995
10
000
000
7.54
CF
30 December
15
000
6.90
30 March
996
10
000
000
CJ
30 March
996
000
20
000
17.25
CK
1  October
996
20
000
000
7.25
996
5
000
5
000
6.93
CM
15  December
996
20
000
000
6.93
CN
15 December
996
5
000
5
000
6.90
CP
1 March
997
7
000
7
000
7.38
15 June
997
000
10
000
7.76
CT
3 November
997
25
000
25
8.95
WL
10 November
997
40
353
7.76
CU
15  November
000
000
7.63
CV
15 December
5
000
5
000
7.63
CW
997
25
000
25
10-3/4
EB
29  December
997
000
29
CX
30 March
998
25
000
25
000
9.44
WM
9 June
998
51
833
51
833
I8
cz
Carried
3 July
998
20
000
20
000
$2,202,075
$2,012,075
 »-™
3 -
1980
(In thou
1979      1
PAYABLE
IN CANADIAN CURRENCY
continued:
!R AUTHORITY continued-
$2,012,07:
ISSUED B
Y BRITISH COLUMBIA HYDRO AND P0W1
Bro
light
forward
52,202,075
8
DA
1 Septembe
r  1998
30,000
30 001
DB
1   November
13
13
ool
DC
1 November
1998
7
8.30
000
7
001
30
DE
15 December
5
000
5
ooi
15  December
1998
15
000
15
ool
55
DG
15 February
1999
15
000
15
55
15 February
1999
'jgB
000
5
ooi
8
70
DJ
29 March
1999
25
000
25
001
8
70
45
DK
VT
DL
10 May
15 May
1999
5
000
000
5
0(1
00
45
DM
15 May
1999
5
000
5
0 1
10-1/2
30 August
1999
12
000
12
ooJ
10.40
DS
15 October
1999
15
000
15
ool
11-1/2
1999
5
000
2 January
2000
50
50
0 J
9-3/4
10-1/2
10-1/2
DZ
10 February
1 May
18 August
2000
2000
2000
10
45
10
50
000
000
10
50
0
0
-&.4JaS
EC
15 October
2000
50
000  (3)
0
10
EF
17 February
2001
50
50
10-3/8
EG
29 March
2001
60
000
60
0(1
9
EL
24  January
2002
50
000
50
ool
9-1/2
2 June
100
000
100
9-1/4
EP
15 August
2002
100
000
100
0
9-1/4
2002
~~~ Vi
000
75
ool
9-3/8
ER
15 December
2002
100
000
100
ool
9-3/4
100
000
100
9-3/4
EU
5 July
2003
150
000
150
0
10
EV
1 December
2003
150
000
10-1/4
EW
15 February
100
000
100
ool
2004
100
000
10-3/4
3 October
2004
150
000
12-3/4
EZ
19 February
2005
$4,003,075
$3,446,07
 PUBLIC ACCOUNTS 1979/8
IB
iiterest
Rate %                             Seri
Date of Mat
urity
1980
1979
(in t
housands)
BUYABLE IN CANADIAN CURRENCY
$4
,003,075
$3,446,075
Bro
ught
forward
PSSUED BY THE FORMER BRITISH
COLUMBIA ELECTRIC
•COMPANY LIMITED-
Erst Mortgage Bonds,  af
deducting  bon
ds  red
seme
In accordance with sinking
fund requirements:
ft-3/4                             "J"
1 June
1980
7,234
7,761
4-1/4                               "K"
1 February
1981
13,959
14,996
1   5                                        "L"
1 February
1982
19,167
20,687
K-l/8                             "M"
2 January
1988
23,054
25,395
K-l/2                             "N"
1989
15,048
16,496
6-1/2                               "0"
1 April
1990
17,618
18,865
■5-3/4                             "P"
■4                                     "F"
1 May
1 July
1991
9,180
700
9,743
881
Perpetual Callable Bonds
171
179
4-1/4
63
86
67
92
4-3/4
I   5
254
229
262
247
5-1/2
134
145
K-year Callable Bonds:
4                                       AA
1 August
1986
11,829
11,821
4-1/4                               AB
1986
10,937
10,933
4-1/2                               AC
1 August
1986
14,914
14,908
4-3/4                               AD
26,159
26,151
5                                       AE
24,771
24,753
5-1/2                               AF
1 August
1986
14,867
14,855
ISSUED BY THE FORMER BRI
COLUMBIA
POWER COMMISSION-
Lnds:
5                                       MC
15 September
1982
5,149
5,149
3-3/4                               C
15 September
1991
3,000
3,000
4                                       D
21 May
1992
1,000
1,000
4                                       E
15 June
1992
1,000
1,000
4                                       F
15 September
1992
1,500
1,500
5                                       MD
15  September
1992
18,724
18,724
5                                       N
Total payable in Canadi
1
15  September
urrency
1992
10,000
10,000
$4
253,822
$3,705,685
 PROVINCE OF BRITISH COLU]
ID IAN CURRENCY
PAYABLE IN UNITED STATES CURRENCY:
ISSUED BY BRITISH COLUMBIA HYDRO AND
POWER AUTHORITY-
l  FORMER BRITISH COLUMBIA
L5 May
1985
$  75
2 July
1991
2 January
1992
50
50
5 July
1996
500
1 October
1999
2005
150
1 December
175
5 June
2007
200
POWER COMMISSION-
Bonds:
G
1 Novembe
i    1988
3-1/4
•■%
15 July
1989
6,300
Debentur
es:
3-3/4
K
15 June
1986
20,000
4-3/8
L
15 April
1987
25,000
3-7/8
Total pa
yable in U,
P
ited Sta
1 Februar
20,000
1,420,050
Exchange
premium a
date of
issue
16,459
Total bo
1,436,509
5,690,331
20,00
25, C
20,oca
 - 6 -
F75
(in
1979
Total bonds and debentures outstanding
Brought forward
$5,690,331
$5,143,539
Jinking  funds on deposit with Trustee,
minister of Finance  for the Province
, of British  Columbia
419,730
355,957
l/tone year:
Sinking fund instalments
■ Maturities,  less sinking fund
5,270,601
4,787,582
48,181
46,693
94,874
48,100
48,100
$4,739,482
$5,175,727
(1)      $50,000,000 payable 16 December 1980
1  (2)      $50,000,000 payable 19 February 1984
(3)      Redeemable at option of holder on 15
(selected by lot
(selected by lot
)•
)•
otal bond and debenture maturity and sinking
riding 31 March 1981 to 1985 are estimated as
fund requirements  for the years
follows  (in millions):
Principal             Funds Accumulated
Amount                 to Maturity Date
l       of Maturities        in Sinking Funds
Cash Requirements
Maturities       Sinking Funds       Total
m              $  71.2                             $24.5
982                  97.7                               39.1
)83                132.5                               61.3
984                  50.0                               11.7
E>85                 250.0                                  13.7
$ 46.7
58.6
71.2
38.3
236.3
84.9                  143.5
95.0                  166.2
101.6                  139.9
106.5                 342.8
1
 F 76                 PROVINCE OF BRITISH COLUMBIA
BRITISH COLUMBIA HYDRO AND POWER AUTHORI
NOTES TO FINANCIAL STATEMENTS
AS AT 31 MARCH 1980
1.  Significant accounting policies:
B.C. Hydro is a crown corporation of the Province of B
ritish Columbia. J
anting principles!
generally accepted in Canada for public utilities. A
description of slgll
ficant accounting policies follows.
Fixed assets consist principally of land, water rights
, storage dams, plil
for the generation, transmission and distribution of e
freight railway and rolling stock.
Fixed assets include the cost of plant financed by con
tributions in aid 1
construction and contributions arising from the Columb
Contributions in aid of construction, which include gr
electrification from the Government of the Province of
amounts paid by customers towards construction of plan
t, are being amort
over the estimated service lives of the related assets
and the credit
depreciation. Contributions arising from the Columbia
being amortized over the remaining term of the Treaty,
2025, and the credit resulting therefrom is offset aga
the annual provision for depreciation of the related a
ssets.
B.C. Hydro charges interest to unfinished construction
at rates equival
to the cost of borrowing funds.
The depreciation policy of B.C. Hydro is to charge the
original cost oj 1
s of the assets.
Depreciation is provided on all depreciable assets in
-line method.
Composite rates by service were as follows-
1980  1973 1
(%)   7%)i
Electric
2.61  2.511
Gas
2.70  2.6&I
Rail freight
3.64  3.20 1
 C ACCOUNTS 1979/80
Significant accounting policies continued:
ttnsurance-
B.C. Hydro generally follows a policy of self-insu
and equipment and for general liability, and any 1
maintained to provide funding for uninsured losses up to that s
protect against losses in excess of $5,000,000, B.C. Hydro carr
Erophe insurance which provides coverage up to $100,000,000.
Eisurance coverage on major project
jrtized by charges to income over the life of t
Rural electrification assistance grant-
mc.  Hydro received a grant of $3,000,000 from the Provincial Government for
jSiral electrification assistance. These funds were used to offset operating
Esses of electric systems purchased or constructed in isolated areas with
inch funds and to improve and extend electric service in rural areas.
The liability for
^et. Foreign exchange adjustn
ts with banks and other
acial institutions
held for sinking fund
 Guarantee by Province of British Columbia:
The Government of the Province of British Columbia has u
guaranteed the principal of and premium, if any, and int
Hydro's bonds, debentures and Parity Development Bonds.
Pari
Employees of B.C. Hydro are covered under contributory pension plans. It
plans for purposes of determining annual pension cost and funding
incurred. Past service pension costs and accrued deficits arising from
to existing pensioners are provided for and funded over periods and in
port prepared as of 31 December 1979 indicate
Lt in the principal plan as of that date of
This deficit arose principally as a result
s funded by conti
Minister of Municipal Affairs and the Superannuation Commissioner
exercised any powers under the Metro Transit Operating Company Act
relation to pensions of former B.C. Hydro urban and interurban tra
portation employees. It is not expected that the exercise of such pow r;|
The charge to income from continuing operations in respect of
 1980
(in th
1979
68,485
2,654
94,833)
$424,556
(72,790)
(654)     (790)
62,660    67,407
$309,760  $283,002
|Passenger transportation:
ince with the provisions of the Urban Transit Authority Act and
Transit Operating Company Act and with the written directions of
the Minister of Municipal Affairs issued under the latter Act, B.C. Hydro
ts public passenger transportation service effective 1 April
ferred and was in the process of transferring to the Urban
Transit Authority and the Metro Transit Operating Company its interest in
gpse assets identified in the directions. B.C. Hydro will be reimbursed
es provided to the Metro Transit Operating Company
ring a period not exceeding two years.
tlting from the discontinuance of the
t of income and earnings employed in the
evenues and expenses for the year ended
to "Loss for the year on passenger
Snsportation operations" on the statement of income and earnings employed
■the business to conform with the presentation adopted for the year ended
1 March 1980. The statement of changes in financial position for the year
ided 31 March 1979 has been reclassified accordingly. The passenger
ha  removed from their former classifications and included at a nominal
gue with accounts receivable in the balance sheet. No reclassification of
Sparable assets at 31 March 1979 has been made. Particulars on passenger
Asportation revenues, expenses and assets appear in Note 9.
rhe est
tmated loss
o B.C
.  Hydro
passeng
>r transport
ordinary ite
jh in
service,
.    Passenge
sportati
jS Marc
i 1979 have I
een r
eclassifi
 B.C.  Hydrc
eration"tra
n of thre
e princ
1 March 1980
?nthercor
sion of
poratio
:  31 March 1980
 PUBLIC ACCOUN
IS ,979/80
181
mues  and ex
re directly attributab
are allocated among  t
tablished by regular r
ssenger transportation
aview and ana
2  segmen
ng
>orary  inves
s  and  deben
ture
_s  and unai
nortized
that are used  in each
ts are principally
discount and expense
on
I         $172.6
Rail
Freight
$23.5
Sundry
$  2.5
Combined
Passenger
ansportation
$    916.0
$ 40.5
I              22.3
g            106.9
9.5
5.6
-
144.3
175.8
11.5
1                8.2
1.7
-
118.9
2.8
l             141'7
18.3
~
510.2
93.2
2               30.9
5.2
2.5
405.8
(52-7)
1              25.0
8)             (4.2)
3.9
.9
372.4
(62.7)
3.9
|              20.8
3.2
.9
309.7
3.2
4,         $   10.1
$   2.0
$   1.6
$       96.1
$(55.9)
9          $305.1
$50.6
$   1.5
$14.1
$6,184.7
363.1
$6,547.8
$     754.8
 yos,r  ended 31 March 1979 (in millions)
t 31 March 1979
Total assets as at 31 March 1979
 !.3
20.8
9.1
132.2
81.1
1.5
..3
3.7
1.3
\
164.6
106.3
16.4
1.1
t
138.2
16'6
~
469.5
102.5
.8
.8
31.9
23.4
4.1
3.4
1.2
393.0
350.5
(58.3)
3.8
J)
.5
(4.5)
18.9
(.7)
2.7
.9
(67.5)
283.0
 Cd)
3.1
—
	
	
	
	
	
I
$   13.0
$  1.4
$     -3
$     110.0
$(61.4)
.1
$287.0
$  24.2
$52.0
$11.5
$5,560.5
$5,994.8
$     718.5
$     3.1
 BRITISH COLUMBIA LIQUOR DISTRIBUTION BRANCH
BALANCE SHEET as at March 31, 1980
CURRENT ASSETS
Cash (note 2)
FIXED ASSETS, at cost (note 3)
Less accumulated depreciati
CURRENT LIABILITIES
Accounts payable
PROVINCE OF BRITISH COLUMBIA
$ 1,576,061 $ 3,994,293
1,114,087 1,233,212
26,244,301 26,391,338
11,608,624 9,499,363
7,662,968 7,133,461
1,688 $27,183,136
$32,880,105 $33,984,745]
4M
"I
 PUBLIC ACCOUNTS 1979/80
BRITISH COLUMBIA LIQUOR DISTRIBUTION BRANCH
STATEMENT OF INCOME FOR THE YEAR ENDED MARCH 31, 1
980
1980
1979
Sales (note 4)                                                          $565,617,104
$526,198,275
Cost of merchandise sold                                          304,899,082
277,022,895
260,718,022
249,175,380
1 Provincial Malt Levy (note 4)                                   31,164,098
19,955,196
291,882,120
269,130,576
toperatinq expenses (schedule)                                   69,272,673
63,944,151
222,609,447
205,186,425
lother income                                                                    1,464,549
1,822,494
■Net Income                                                                  $224,073,996
$207,008,919
STATEMENT OF CHANGES IN PROVINCE ADVANCE
FOR THE YEAR ENDED MARCH 31,  1980
1980
1979
Kalance at beginning of period                           $    6,801,609
$    4,030,606
jmet Income                                                                  224,073,996
207,008,919
Cash payments to Provincial Treasury                 (225,007,188)
(204,237,916)
Ktlance at end of period                                       $    5,868,417
$    6,801,609
 BRITISH COLUMBIA LIQUOR DISTRIBUTION BRANCH
STATEMENT OF CHANGES IN FINANCIAL POSITION FOR THE YEAR ENDED MARCH 31, 1
FUNDS DERIVED FROM OPERATIONS:
Net income $224,073,996  $207,008,919
224,782,334   207,532,0371
FUNDS APPLIED TO:
Acquisition of fixed assets 2,288,092    1,354,716
Cash payments to the Provincial
Treasury 225,007,188   204,237,916]
227,295,280   205,592,631
se/(Decrease) in working capital        (2,512,946)    1,939,403
g capital at beginning of year 4,435,707    2,496,303
WORKING CAPITAL AT END OF YEAR $ 1,922,761   $ 4,435,703
WORKING CAPITAL
$ 28,934,449   $ 31,618,843
27,011,688    27,183,ig
WORKING CAPITAL AT END OF YEAR $ 1,922,761   $ 4,435,M|
 BRITISH COLUMBIA LIQUOR DISTRIBUTION BRANCH
NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 19£
SIGNIFICANT ACCOUNTING POLICIES:
Revenues and expenses are reflected on an accrual basis.
Merchandise inventory is valued at its latest landed cost.
Customs and excise taxes are not included in the value of
inventory where payment is due upon shipment from the bonded
warehouse.
Expenditures for buildings, leasehold improvements, furniture,
fixtures and equipment are capitalized and are subject to
depreciation on a straight line basis as follows:
Leasehold Improvements  - a minimum of 10% per annum
or a rate sufficient to write
off the cost over the remaining life of the respective
lease.
Furniture, fixtures
and equipment        - 25% per annum
CASH:                                1980
1979
Cash on hand and in banks (overdraft)   (2,491,860)
(2,147,439)
Cash in transit                   4,067,921
5,986,184
Funds on deposit
155,548
$1,576,061
$3,994,293
 BRITISH COLUMBIA LIQUOR DISTRIBUTION BRANCH
NOTES ON FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 1
3. FIXED ASSETS:
Land $  450,752  $   -     $  450,752  $
Buildings 5,734,951 4,043,623   4,898,377   3,958]
Improvements 35,734     15,343     35,734
Furniture,
Fixtures and
Equipment 5,387,187 3,604,002   4,114,500   3,161
11,608,624 7,662,968   9,499,363   7,133}
NET BOOK VALUE $ 3,945,656            $ 2,365,902
Sales made directly to Licenced Establishments by authorized
Brewers' agents on behalf of the Liquor Distribution Branch
totaling $95,315,359 (1979 - $60,829,434) are not included
in the sales reported by the Branch. The Provincial Malt Levy \
reported on the Income Statement represents the margin on these
 BRITISH COLUMBIA LIQUOR DISTRIBUTION BRANCH
NOTES ON FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 19J
■5. COMMITMENTS:
Employees of the Branch contribute to the Public Service Superannuation Fund 6%  of their salaries for basic pension purposes,
plus 1/2% of salaries for cost-of-living indexecUincreases in
pension benefits. The contributions shown in the Schedule include in addition to matching employee contributions, supplementary assessments paid by the Branch to fund any deficiency
in pensions for employees who retired during the year. This
supplementary assessment was $1,958,813 in 1980 ($1,711,235 -
j   1979). I
An actuarial evaluation of the Public Service SUpjirannuation
Fund was made at March 31, 1977. Details of the unfunded liabtl-
t.. ^itwareiro&Wra^ Col umbi a.
The portion of the unfunded liability attributable to the Liquor
Distribution Branch was :hbt determined by the actuary.
The Branch maintains inventory in its bonded warehouse for which
Customs and Excise tax has neither been paid nor recorded. As
at March 31, 1980 the future liabi1jjfl|afebr these taxes approximates $3,100,000.
In 1979, a new procedure to warehouse imparted stocks by Suppliers'
Agents was implemented. Under this new concept, the Branch has
a contractual obligation to purchase all inventories held by the
agent should he opt out- of«-the 'program. The obligation ofl^HKp
Branch,should all agents choose to terminate their contracts,
totals approximately $24,000,000 as at March 31, 1980.
Total commitments to March 31',' 1980 for lease of premises amount
to $21,700,000. Of this $3,600,000 becomes payable during the
year ending March 31, 1981.
| 6. COMPARATIVE FIGURES:
Certain of the 1979 figures provided for purposes of comparison
have been restated to&conform with the classifications used in
the current year. These changes have had no effect on the net
earnings.
 £ £ 3 £ £ CO 3 3. l5 Q£ iZ <Z £'Ij jaJl -sP^ ct^CQr^Qlr^ECCUlJIlS^Ii^
 PUBLIC ACCOUNTS 1979/80
BRITISH COLUMBIA PETROLEUM CORPORATION
iNANCIAL STATEMENTS
1980
1979
"ash and short term deposits      $
H^ances for exploration and gas development (Note 2). . . .
^Mty Account (Note 3)
miture, equipment, automobiles
easehold improvements, at cost .
s: Accumulated depreciation and
id other deferred charges. .
I Lbilities and Retained Earnings
^^liabilities
gunts payable and accrued charges
Sredits payable	
iiined earnings	
ments (Note 5)
Proved by the Directors:
20,693,782 $ 44,049,088
77,277,774 48,046,592
1,245,302 2,319,363
2,591,546 2,052,776
51,166 736,391
101,859,570
/&gtt~ggee~ • — g. Dire<
i -.
97,204,210
95,180
85,321
339,801
326,077
253,827
262,796
$  102,453.198
$   97,793,083
$    53,044,625
230,357
$   32,344,473
2,640,602
53,274,982
34,985,075
49,178,216
62,808,008
$  102,453,198
$   97,793,083
 Reve
Gas purchases .
Deduct: Transfers!
Retained earnings,
1980
1979 J
$ 642,655,082
$ 433,749]
335,919,443
1,100,105
251,5161
1,421,2
337,019,548
252,93i
305,635,534
1,559,674
180,81|
2,067,
307,195,208
62,808,008
182,879
44.179! 1
370,003,216
320,825,000
227,05§
164,250!
$    49,178,216
$    62,808j)|
 I HSH COLUMBIA PETROLEUM CORPORATION
I of funds
Irtincome    $ 307,195,208 $ 182,879,008
Add (deduct) items not involving outlay of funds:
ireciation and amortization                   25,308 27,144
5 (gain) on disposal of fixed assets    (767) 26,742
307,219,749 182,932,894
iceeds from disposal of fixed assets                   14,470 3.933
1 and other deferred charges                     8,969 43.874
5 toward exploration and gas development  — 2,761,615
307,243,188 185,742,316
I ffiiperty additions	
' >rs to Provincial Treasi
52,735
320,825,000
2,575
164,250,000
320,877,735
164,252,575
(13,634,547)
62,219,135
21,489.741
40,729,394
$   48,584,588
$   62,219,135
 F 94                                             PROVINCE OF BRITISH COLUMBIA
BRITISH COLUMBIA PETROLEUM CORPORATION
Notes to Financial Statements
March 31, 1980
Note 1. Summary of Significant Accounting Policies
Gas Sales
Under the terms of an agreement between Westcoast Transmission Company L
Columbia Petroleum Corporation effective November 1, 1973, the Corporation
mited and Br il
sells natural gaJ
ue received byl
operation.
Furniture, equipment, automobiles and leasehold improvements are recorded a
cost and       1
the assets. Depreciation is computed on a straight-line basis.
he service liv si
Note 2. Advances for Exploration and Gas Development
Advances for exploration and gas development represent funds advanced to de
production. These advances are secured on property of the developer and are
epayable out J
Note 3. Property Account
Cost                  Amortization                 Value
NeXl
$ 138 oJ
16 38J
171 631
Automobiles                27.455                6.254                21,201
Leasehold improvements              211,228              49,964              161,264
$ 434,981          $ 95,180         $ 339,801
$ 326 0^
 PUBLIC ACCOUNTS 1979/80                                                    F 95
BH COLUMBIA PETROLEUM CORPORATION
B. Remuneration of Directors and Senior Officers
■year ended March 31, 1980 amounted to $221,117 (to March 31, 1979-$196,315).
EL Commitments
■The Corporation has commitments under agreements for the lease of office premises extending to
■1984. The aggregate rentals payable under these leases amount to approximately $495,000 as at
Report of the Auditors
I the Lieutenant-Governor in Council,
Evince of British Columbia:
Ve have examined the balance sheet of British Columbia Petroleum Corporation as at March 31,
1 W0 and the statements of income and retained earnings and changes in financial position for
1 B/ear then ended. Our examination was made in accordance with generally accepted auditing
1 ^lards, and accordingly included such tests and other procedures as we considered necessary
1 Be circumstances.
1 maleum Corporation as at March 31, 1980 and the results of its operations and the changes in
1 TOiancial position for the year then ended, in accordance with generally accepted accounting
1 fficiples applied on a basis consistent with that of the preceding year.
yCt/a£u^e^, •fr^asK<r?tS *s s&rnu&j,^.
1 BboUVER. B.C.
  BRITISH COLUMBIA RAILWAY COMPANY
3
Suite 2100, One Bentall Ceni
Marwick, M itChel I & CO. Vancouver British Columbia
mber 28, 1979 and the statements of income and deficit and changes
position for the fiscal year then ended.  Our examination was made
In our opinion, these financial statements present fairly the financial
n of the Railway as at December 28, 1979 and the results of its operat
(changes in its financial position for the fiscal year then ended in
-/S?rX^u^# ^lUu^ *C,
:olumbla, Canada
 *.
T1SHC0LUMB.A
RAILWAY 1
BALANCE
SHEET
(Dollars in
Assets
December 28
Current as
1979
Cash and
s           $    14,556
18,8
32,068
24,
*Sf
s and othe
H
±\
427,547
413i
177,063
■jj
174]
3*!
H
m
92,107
$ 653,989
91,
652 1
 PUBLIC ACCOUNTS IS
1 Shareholder's  Defic
1                  •
December 28
1979
December 29
978   (Note  2)
unts payable and other liabilities
$    67,729
50,422
spayable
30,000
20,000
Bgit obligations on long-term debt
9,900
8,483
107,6"29
78,905
irm debt - Note 5
648,034
627,227
older's deficit
capital - Note 6
185,573
185,573
ffimted surplus-Government grants
61,250
246,823
61,250
246,823
;it
(348,497)
(101,674)
(300,362)
(53,539)
Kts and contingent liabilities
; 7,  8 and 9
$ 653,989
652,593
—|
=====
j^y0%    °n behalf of th
aboard:   yy
^idJm^u^^ ^
^rf.fo^
ector
 BRITISH COLUMBIA RAILWAY COMPANY
(Dollars in Thousands)
53,823
28,369
26,348
Clositi
 PUBLIC ACCOUNTS 1979/80
BRITISH COLUMBIA RAILWAY COMPANY
Changes in Financial Position
(Dollars in Thousands)
Bperty and equipment
■ miking funds and long-term debt
Bffing capital  (deficiency)
pening balance
losing balance
13,364
34,771
13,585
30,863
23,780
16,557
674
(791)
20,569
79,794
15,890
62,519
26,328)
(52,692)
(7,676)
45,016
34,004)
(7,676)
 BRITISH COLUMBIA RAILWAY COMPANY
Significant accounting policies
The accounting regulations prescribed by the Canadian Transport C
for Canadian railways have been adopted to the extent that this
rates to the Commis
sion fS approval.3"0
Road property
New construction is i
ecorded at cost net of grants received. Ab
andon
s of
structure installer.
material released
s removed from the asset accounts at the av
eragi
cost. Labour costs
for programmed replacements are expensed a
s ini
All costs of construe
line is certified c
portation, Communic
ceases and provisic
ations and Highways.  Capitalization of int
n of depreciation commences on the date of
of
^Depreciation is prov
ded for major categories of property and eq
uipm
til
original cost to et
of the classes.  Tl
e group method is used for recording deprec
ice*
which the original
cost of assets retired less salvage value i
than on accidental'
depreciation. No gain or loss on retireme
1 of
is included in opei
ations. The original cost of principal asse
ts 1
estimated salvage \
alue is depreciated over the following numb
er o
Grades,
Number of Yea
rs
surfacing and tunnels            100
Rails
50
Ties anc
ballast                       25
Bridges
65
Locomot
Freight
cars                           33
 against operations in the year the debt is retired unless the debt
specifically refinanced. In this case the remaining amount is amor
over the lesser of the balance of the life of the original debt, or
life of replacement debt.
^inventories of materials and supplies are valued at the lower of aver
ost or net realizable value.
actions in foreign currency
approximate exchange rates prevailing at the dates of the
of exchange in effec
the fiscal year of the Railway ends on the Friday closest to December 3
The 1979 fiscal year ended on December 28, 1979 and the 1978 fiscal
I year ended on December 29, 1978; both comprised 52 weeks.
fin conformity with the statement presentation adopted for 1979.
for year adjustment
Opening deficit as previously reported        $ 302,762,000
I  Additional contribution from the Government
of the Province of British Columbia to
reduce 1978 Fort Nelson Extension
operating loss 2,400,000
I  Opening deficit as restated $ 300,362,000
 3.  Fort Nelson Extension
During 1978, the Government of the Province of British Columbia undll
took to reimburse the Railway for the costs of the rehabilitation^
program which began in June, 1978 and to reduce the annual ope
provided a total of $25,842,000 to the Railway fori
program of which $21,917,000 has offset road proper
tures. The balance of $3,925,000, together with co
ffset the operating loss have been deducted from
ses as follows:
* 2,088,000     1,837,0C
3,000     6,400,Q
8,888,000     8,237,£
Long-term debt is not secured by assets of the Railway. Bonds
by the Railway which are held in the sinking fund are not cancelli
presentation have been deducted froi f
g. As of December 28, 1979 the prini I
 PUBLIC ACCOUNTS 1979/80
"       1
Rerest on borrowed money is as  follows:
1979
1978
Interest and debt  expense on long-term
■ debt                                                                           $    64,745,000
60,752,000
Bess:
■■Sinking fund earnings,  net  of  earnings
■     on Railway's  own bonds held                              8,297,000
4,772,000
■ Temporary investment of long-term debt
■     proceeds                                                                        2,395,000
1,642,000
10,692,000
$    54,053,000
54,338,000
Iffing-term debt outstanding,  less  current maturities,  cons
sts  of  the
■■following:
1979
1978
IBjkking  fund bonds  and  debentures
IBl981-1985 -   3   1/4%  to  5%                                   $     17,468,000
17,617,000
IH986-1990 - 4 3/4% to 8  1/4%                              50,000,000
50,000,000
IB991-1995 -  4.5%  to  8.92%                                   142,734,000
142,734,000
1996-2000 -  7.08%  to  10.5%                                 378,210,000
336,834,000
|;§2001-2005 -  9.05%  to   10.4%                                   155,000,000
155,000,000
743,412,000
702,185,000
■■Bess sinking fund assets
net  of Railway's  own
IB bonds held                                                                 86,981,000
68,109,000
656,431,000
634,076,000
IjRial bonds
HE7/8% - due  1988                                                         1,503,000
1,634,000
657,934,000
635,710,000
Ibleduct current obligations on
IIBng-term debt                                                               9,900,000
8,483,000
$  648,034,000
627,227,000
 londs totalling $185,327,000 which are held by the Minister of Finai
for Canada contain a provision whereby under certain circumstances tl J
may be presented for redemption upon six months notice given to the |
Railway. A further $48,387,000 of bonds are subject to redemption
in various amounts at various dates commencing in 1980, at the optioi
of either the holder or the Railway. The Railway also has the right
under certain circumstances to redeem bonds aggregating $435,544,00(1
fiscal years ending with 1984 are $9,958,000, $9,967,000, $9,309,0
and $9,319,000.
Included in long-term debt outstanding at December 28, 1979 are obligj
recorded at par value of $14,477,000 payable in United States ci
The Canadian equivalent of these obligations at December 28, 19;
approximately $16,948,000.
6. Share capital
Authorized share capital is 2,105,729 shares of $100 each of which
1,855,729 shares are outstanding and held by the Government of the
Province of British Columbia.
7. Commitments
The Railway has significant lease commitments for rolling stock and
expire during varying periods to 1997. The minimum average annuai
lease payments under existing leases at December 28, 1979 are as j
follows:
1980-1984 $ 10,314,000
1985-1989 9,207,000
1990-1994 5,588,000
1995_1997 686,000
Emitted to acquire $44,000,000 of rolling stock dur:
Contingent liabilities
Three contractors have commenced actions against the Railway to recov
losses and other damages for specific claims in the aggregate amoun
of approximately $21,000,000 together with other unspecified amount
The Railway has not provided for these claims in its accounts as in
opinion of counsel these claims should not succeed.
 nsion Plan
The majority of employees participate in a contributory pension plan and
are entitled to limited vested rights prior to retirement. Based on
a report by independent actuaries, the unfunded accrued liabilities
of the pension plan at January 1, 1979 approximated $7,000,000. The
unfunded liabilities are being amortized over a period of 24 years.
Total pension expense for the year was $4,907,000 (1978 - $4,800,000)
^including past service costs of $586,000.  Total contributions for
1980 are projected to be $5,000,000.
:ion of
s and officers
leration paid to five officers s
of'the Railway amounted to $38,
) $245,000 (six in
: in 1978 - $44,000);
 BRITISH COLUMBIA REGIONAL HOSPITAL DISTRICTS
FINANCING AUTHORITY
1
i
J    ™.
Office of the
Province of British Columb
Ss
4
AUDITOR'S   REPORT
To
tish  Colui
nan and V
onal
rs  of the
Hospital  Districts  Fi
lancing  Author
Lt|
To  the  Minis
Province of
.er  of  Fj
olun
P
I have  examined  the  e
at  31  March  1980  and
the  year  then  ended.
onal
the
My
diti
dure
merit  of assets  and lia
Hospital  Districts  Fi
statement of receipts
Dilities of the 1
lancing  AuthoriS 1
ind  disbursement!1
i  accordance witj 1
trdingly  included J
asary  in the        j
Oil
cumstance
In my opinion,   these
generally accepted ac
the  financial  statemc
the
Authority as  at  31  Ma
ting  principles,   as mo
it  fairly the
3d  in  accordan
lified  by  note
2
5 precedin
j year.
ErifRa~~~Morriso™
Auditor  Gen
1
'toria,   British Columb^
August   1980
 PUBLIC ACCOUNTS 1979/80
F109
TORITISH  COLUMBIA   REGIONAL   HOSPITAL   DISTRICTS   FINANCIN
G  AUTHORITY
STATEMENT   OF   ASSETS   AND  LIABILITIES
AS   AT   31   MARCH   1980
ASSETS
1980
1979
Ibentures  receivable   (schedule  1)               S   472,244,000
$   388,464,000
HBrsinkinq  fund  instalments  and
investment   income                                                       72,003,338
54,479,464
$   400,240,662
$   333,984,536
LIABILITIES
tig-term debt   (note   3  and  schedule   2)     $   472,244,000
$   388,464,000
BjHisinkinq   funds   on  deposit  with
the  Minister  of  Finance  of  the
lt»ovince of British  Columbia
l^otes  2  and  4)                                                            72,003,338
54,479,464
$   400,240,662
$   333,984,536
p: four  accompanying  notes  are  an  integral  part  of  thes
e  financial
||®ved by  the Authority:
fin
l/*C..-'     /&L
aSt-2
pih\.   Culrtis,   Chairman                                         L.I.   BeA,   Secretary          ^^
 i  COLUMBIA REGIONAL HOSPITAL DISTRICTS I
STATEMENT OF RECEIPTS AND DISBURSEMENTS
FOR THE YEAR ENDED 31 MARCH 1980
ICING AUTHORITY
:eeds of Authority debent
] long-term debt
Excess of receipts
11,211,182
6,312,692
138,011,852
$     57
29
000 Oil
394 4i
IP
613  6
4
226  6
100
234  7
57
ooo, ol
29
394,41
fiftJ
613,61
4
226,8
100
23   ,1
$
 Ll'
C ACCOUNTS 1979/80
I COLUMBIA REGIONAL HOSPITAL DISTRICTS FINANCING AUTHORITY
AS AT 31 MARCH 1980
[The Authority
The Authority was established by the British Columbia Reg:
Hospital Districts Financing Authority Act, 1967 Chapter !
Subsequently consolidated under the Hospital District Fin;
Act, RS 1979 Chapter 179.
Section 2 of the Act
health facilities, community human resources and health centre
Rid any other community, regional or Provincial facilities foi
the social improvement, welfare and benefit of the community c
[me general public good approved by the Minister of Health.
Efcsistance in financing is to be provided by either purchasing
debentures issued by Regional Hospital Districts or any other
Hhcorporated body that is authorized under an Act, its chartei
!&■ its memorandum of association to issue debentures for
Binancing any of those projects or facilities, or by any othei
method approved by the Lieutenant Governor in Council with mor
raised by the issue and sale of debentures of the Authority."
Kdified  to  include  int
Brest   accrued  on  sinking   fund
lg   funds  are maintained  by  the  T
Ee Minister of Finance
of  the Province  of  British  Colur
Sovide   for  the  retirem
nt  of  Authority  debentures  at  m
Snking   fund  instalment
Erestments,   and  the  co
jfe  sinking   fund  truste
> have  been  reflected   in  the  sta
receipts and disbursemer
ts.
 TISH  COLUMBIA  REGIONAL  HOSPITAL  DISTRICTS   FINANCING  AUTHORTTiM
NOTES  TO  FINANCIJ
Province of  British Columbia
7.00%  to 8.08% debentures,   due
1990  through   1993. 22,310,000
Boards,   Agencies and Commissions
6.79%  to  10.40%  debentures  due
1991  through   2001. 39,190,000
472,244,000        $   388, 464ji jjl
Sinking  funds
346,571 $ 14
,9,990,647 52,939,31
1,666,120 __li393ffl|B
$   56,945,812 $   48,868,6'!
istalments  of  $12,461,897 a
 IC ACCOUNTS 1979/80
F1.3
BRITISH   C0LU1
SCHEDULE   0
"■   DEBENTURES   RECEIV
FINANCING
AUTHORITY
AS
VT   31   MARCH   1980
tonal
Interest
Dates
|ital
of
1979
■
li-Clayoquot
6.62-   9.40
1988-1998       $     4
422,500
$     4,422,500
.ey-Nechako
I
75-11
62-10
24
1990-2000                7
1988-1999             39
276
822
000
6,826
29,972
000
07
1993-1996                2
525
000
2,525
000
Il  Coast
500
500
ll  Fraser Val
ey  6
74
1988-2000             11
445
9,875
05
970
7,970
000
62-10
02
1988-1999             14
%7ii
400
14,132
fia-Shuswap
1988-1995               6
000
6,320
74
1988-2 000            11
382
8,582
23-10
02
1992-1999               1
995
000
1,775
000
23-12
1993-2000               8
175
000
000
kootenay
6
62-12
1988-2000            11
243
000
10,543
000
1989-1999               6
600
5,606
600
E-Fort   George
6
62-12
74
1988-2000             16
706
500
500
6
62-10
68
591
000
178,591
\m Facilities
1995-2000            26
000
11,500
1991-2001                9
000
10,845
000
ffliy Boundary
1988-2000                7
5,861
000
Eaddington
1991-1999               1
585
000
435
fokanagan
6
79-12
92-10
26
1989-1999                4
475
829
000
V.ill
000
000
ijn-Similkamee
62-11
24
1988-2 000             11
313
000
lo!803
6
62-10
26
000
miver
6
62-11
24
1988-2000                3
472
000
3,430
000
fin Charlotte
6
62-10
26
1988-1999               5
346
000
4,320
000
ish-Lillooet
46
1993-1998                1
380
000
1,380
000
01-11
24
1991-2000                3
025
000
1,225
000
lie debentures
6
75-12
74
1990-2001              19
112
500
14,012
500
receivable  are
$472
244,000
$388,464,000
redeemable  in who
e or  in p
irt  before
Hffirity at  the
option of  the
Chairman of  the At
lie Province of
British  Colum
bia has  unconditior
ally.guar
anteed  payment
BBrincipal  an
Regional   Hospital   I
 'INANCING AUTHORITY ,
9 April
 3GI0NAL   HOSPITAL   DISTRICTS   E
SCHEDULE   OF   LONG   TERM   DEBT
 AUDITOR'S REPORT
British Columbia School D:
31 March 1980 and the stat
year then ended. My exam:
generally accepted auditii
tests and other procedurei
i and liabilities of the |
:ipts and disburseme
In my opinion, these financial statements present fairly the I
financial position of the Authority as at 31 March 1980 and jffl
results of its operations for the year then ended in accorda 1
generally accepted accounting principles, as modified by note
the financial statements, applied on a basis consistent with t
 PUBLIC ACCOUNTS
M
F117
■BRITISH  COLUMBIA   SCHOOL   DISTRICTS   CA
PITAL   FINANCING
AUTHORITY
STATEMENT   OF   ASSETS  AND
LIABILITIES
AS  AT   31   MARCH
1980
ASSETS
1980
1979
fttures  of   school  districts
I       (schedule   1)
Sinking   fund
16,500,000
1,008,602,000
$     19,750,000
920,010,000
1,025,102,000
939,760,000
Bsinking  fund   instalments   and
$
LIABILITIES
247,775,878
198,410,809
777,326,122
$   741,349,191
HSote   3  and   schedule   2)
Serial                           $
Sinking  fund
16,500,000
1,008,602,000
$      19,750,000
920,010,000
1,025,102,000
939,760,000
■Kinking  funds  on deposit with
:he Minister  of  Finance  of   the
jggvince of  British  Columbia
247,775,878
$   777,326,122
198,410,809
$   741,349,191
1 four  accompanying   notes  are  an   integ
3e   financial
1 oved by  th^ Authority:
r^Ffr
LQ-J?
"etary
 BRITISH COLUMBIA SCHOOL DISTRICTS
CAPITAL FINANCING
AUTHORITY
STATEMENT OF RECEIPTS 1
kND DISBURSEMENTS
FOR THE YEAR ENDED
31 MARCH 1980
1980
1979
Receipts
Proceeds of Authority debentures
issued
$  88,592,000
$  91, 296, (j
Debentures redeemed by school
districts
3,250,000
3, 250,(J
Interest received on long-term
debentures
79,747,879
70,634,id
Sinking fund instalments received
26,626,947
24, 479, !
22,738,122
i6,034,:e
220,954,948
20 5,694, C
Disbursements
Purchase of school districts
debentures
88,592,000
91,296,ll
Debentures redeemed by the
Authority
3,250,000
3,250 )\
Interest paid on long-term debt
79,747,879
70,634 ll
instalments paid into sinking fund
3    26,626,947
24,479 3
Investment income allocated to
sinking funds
22,738,122
16,034 4
220,954,948
205,694 2
Excess of receipts over
I
 [A SCHOOL DISTRICTS CAPITAL FINAr;
NOTES TO FINANCIAL STATEMENTS
AS AT 31 MARCH 1980
[The Authority
[The Authority was established by the Britisl
(Districts Capital Financing Authority Act, .
Subsequently consolidated under the School I
Finance Act, RS 1979 Chapter 376.
|lgn
ficant accounting pol
icies
The
iccounts of the Author
ity are ma
=ied to include intere
:unds are r
Ihe
[inister of Finance of
de for the retirement
of Author
gLnk:
|nve.
tments, and the corre
spending ir
led on a cash bas:
.nking fund
lined by the Trust
 1MBIA SCHOOL DISTRICTS CAPITAL FINAti
NOTES TO FINANCIAL STATEMENTS
3  AUTHORITY
6.40% to 12.74% debentures,
due 1988 through 2000.
$ 767
518
000
-ovince of British Columbia
Pension Funds
4.63% to 8.08% debentures.
due 1980 through 1993.
Cdn. 75
000
U.S.  1
230
000
-ovince of British Columbia
6.25% to 10.00% debentures due
1980 through 1996 (includes
$4,040,000 of debentures held
by the Authority sinking funds'
90
765
000
i.25%  debentures,   due  ]
Debentures  issued  to 1
redeemable  on  six  moni
$1,025,102,000
Plan Investment Fund a
of Finance of Canada*
i payable in foreign currency wc
inverted into Canadian dollars
11 March 1980.
i payment of princj
 i  COLUMBIA SCHOOL DISTRICTS CAPITAL FINANCING
NOTES TO FINANCIAL STATEMENTS
AS AT 31 MARCH 1980
681,392
241,640,573
5,453,913
.1,791  are  due   in  each  of  the
is  maturities  of  $3,250,000 are
$2,500,000  due   in  1985.
 Shi
ntere
■j
1
pernie                               4"
50-11.50
980-1999
11,295,000
$   10,47i
980-2000
50-11
50
800
56
460
980-1999
000
77
50-12
200
10
Arrow Lakes                   5
50-10
02
.986-1999
%
367
000
1
31
if
Se^Illey              l
E'io
68
989-1999
l
?H
E
I
59
980-2000
29{2
50
859
802
17
Princeton                        5
88-12
74
987-2000
2
601
ooo
2
04
19
Revelstoke                     4
50-11
50
980-1999
5
330
000
4
36 !
Spallumcheen            4
50-10
581
75-12
575
50
53
480
000
35
576
26
Cariboo^Chilcotin    4
00-12
74
986-2000
ll
884
000
i
264
29
SEL       1
75-11
50-11
50-12
50-11
50
50
74
50
III
'W?
334
600
463
500
48
771
258
026
002
881
068
657
885
693
 PUBLIC A
COUNTS 1979/8
F123
A   SCHOOL  DISTR
Tizrz
(
CHEDULE   1
■Er
1980-1999
21,675,500
1979
50-10.49
Iffiple  Ridge                 4
L980-2000
500
51
50-12
157
36
205
500
50-10
500
50-10
68
5
5
811
500
towe   Sound                    4
50-10
68
980-1999
8
914
800
8
633
000
IPeen Charlotte        5
63-12
ll
980-2000
I
III
E
I
710
000
imithers                          5
Ijffirns  Lake                   5
00-12
00-10
68
986-1999
1
826
000
I
668
000
74
980-2000
371
50-12
127
50-10
000
8
000
■See  River North 4
50-12
000
060
500
Ifef  Islands               5
50-10
50-12
74
68
980-2000
980-1999
16
872
395
800
34
3
060
800
500
000
2
494
000
|ierim                        1
50-10
50-11
50
980-1999
11
ii
000
10
353
507
000
Irampbell   River          4
50-10
50-12
68
980-1999
980-2000
10
999
500
200
I
602
200
llrasiz-Harrison     5
84
980-1998
1
055
000
■ffipierland                   5
50-   9
68
986-1998
1
152
000
000
I
665
000
000
|Etver Island  5.
13-11
50             1
986-1999
3
851
000
3
721
000
50-11
50            1
980-1999
12
533
000
u
427
000
i
000
3
•/3
  PUBLIC ACCOUNTS 197
F125
BRITISH COLUME
SCHEDULE OF L
CTS CAP
ITAL FINANCING
AUTHORITY
AS AT 31
MARCH 1
liars:
SCHEDULE 2
|§iJH
Dates of
Rate %
is Noviibir'L
0-1983
$  1,000,000
1979
5.25
5.38
0-1985
3,000,000
3,500^000
4,750,000
4,000,000
Rate %
9
20,000,000
20,000,000
6.25
6
25
15 February
25
000
000
25
75
15 November
987
00.0
000
15 December
987
15
000
000
15 January
10
000
000
10
000
000
1 May
000
5 August
5
271
000
5
271
000
1 October
10
112
000
10
112
000
92
035
000
035
000
26
989
45
15 July
10
p'qa
K,
10
000
000
989
989
5
367
000
5
367
000
989
468
000
468
000
8
5 January
391
391
000
8
3
094
000
3
094
000
990
10
319
000
10
319
000
1 April
3
155
1 May
990
6
»°'°1°
000
6
000
000
8
08
6
000
000
6
000
000
10
000
10
500
000
01
15 January
000
000
10
000
000
6
3
000
000
3
000
000
6
90
6
6
08
991
000
000
000
000
54
15 Septemberl
10
000
000
10
000
000
899
000
./2
 10,000,000
 PUBLIC ACCOl
lill
BRITISH COLUME
OOL DISTRICTS CA
PITAL FINANCING AU1
HORITY
AS AT 31 MARCH
1980
(coi
tinued)
Date Of
B
September
1996
1980
10,000,000
1979
10.00
8
.93
10
1996
13
5
005
000
5
000
000
1996
10
10
994
000
8
73
February
1997
|
83
10
May
1997
1997
1997
1997
J
128
000
5
8
125
654
128
700
000
000
000
000
06
8
July
000
000
9
00
August
000
8
000
000
8
99
9
8
000
000
000
000
8
6
000
000
10.0.Q
000
88
997
000
000
8
000
000
98
10
998
5
310
000
5
310
000
37
10
000
000
20
000
000
9
40
10
10
9
April
May
998
1998
998
12
000
000
10
000
000
000
000
10
July
998
59J3
000
593
000
August
998
36
September
998
000
764
000
I
35
10
998
6
638
995
000
6
638
995
000
000
9
84
474
000
474
000
10
000
10
000
April
1     10
20
10
999
572
000
10
02
10
July
999
5
500
000
la&jW
I    10
98
10
August
September
999
6
000
000
1
m       10
50
10
999
000
11
000
329
000
000
;
Bayable in Canada
gnadian Dollars
942,417,000
854,575
000
•/4
 1980
1979
iiooo
000             1
2 So!'
2,500
3,000
000             3
50(11
12,500
000          15
00.
000          20
z]
70,185,000          70,l|l
51,025,102.000     5939,760,|
 PUBLIC ACCOUNTS 1979/80                                                  F 129
BRITISH COLUMBIA STEAMSHIP COMPANY (1975) LTD.
■home
Rjddell
■Co.
CHARTERED ACCOUNTANTS
AUDITORS'   REPORT
1   British C
holder of
olumbia Ste
imship  Company  (1975)  Ltd.
We
Slumbia Ste
the  consolid
1 fflcordingly
amship Company (1975)  Ltd.   as at December 31,   1979  and
ated  statements  of  income  and  deficit  and  changes  in
sition for the year then ended.     Our examination was m
e with generally accepted auditing standards,  and
included  such  tests and  other procedures as we conside
the circumstances.
ade
red
In our opinio
[Sesent  fairly the flna
December 31,   1979 and t
\m its financial positi
generally accepted acco
Unsistent  with   that   of
cial position of  the company as at
ie results  of its operations and the change
n for  the year then ended in accordance wi
mting principles  applied on a basis
M
SIj^ju     r^idldJ   1
m
Chartered Accountants
IBtoria,   B.
1 Wruary 13,
C.
1980
^oAANDASSxIAroTHRoucHaJTTHEwoRLD
 )F BRITISH COLUMBIA
BRITISH COLUMBIA STEAMSHIP
CONSOLIDATED  BALA1
0,502 9 HI
,  CONTRIBUTED SURPLUS AND D
3,330 201
3,983)     (1,92: |
 Tpassen
3  STATEMENT  OF  IN
31,   1979
$4,038,664
1,990,710
330,854
1978
$2,779,227
'282',482
65,085
4,615,915
749,750
530,575
H Operc
ting expe
nses
677,790
1,427,540
1,111,543
Fuel
general
le terrain
3l
295,863
423,267
459,026
103,'459
455,332
222,931
325,830
451,'093
373,168
fore non-
selling
stx
282,157
203,300
4,250,060
3,573,524
2,194,609
1,042,391
530,436
432,334
Selling
fore unde
noted items
362,573
319,927
893,009
752,261
1,301,600
290,130
502,500
265,694
1,842
1 Interes
Iet INCOM
E  (LOSS)
296,650
852,231
564,186
449,369
(274,056)
Ieficit a
T BEGINNI
G OF YEAR
2,123,687
1,849,631
$1,674,318
$2,123,687
 BRITISH COLUMBIA
F  CHANGES  I
i DECEMBER 3
tflTAL  DERIVED  F
ANY (1975) LTD.
FINANCIAL POSITION
1979
$  449,369
$
504,342
953,711
1
5
G CAPITAL DEFICIENCY AT BEGINNING OF
3 CAPITAL DEFICIENCY AT END OF YEAR
 STEAMSHIP COMPANY (1975) LTD.
FINANCIAL STATEMENTS
ENDED DECEMBER 31, 1979
iACCOUNTING POLICIES
lng amortized over ten years,
ted at cost.  The leasehold i
rates indicated in note 2 except that the vessel taken out of s
after the 1979 operating season has been written down to its es
(i) Current assets and current liabilities'are translat
Canadian dollars at rates of exchange at the year e
o Canadian dollar
ximate the average monthly r
 BRITISH COLUMBIA STEAMSH]
NOTES TO CONSOLIDATED
1979
iJ
llSvel
arguerit
SkF
$1,685,132
depreciation
$1,085,132
11,481
4',283
31,0 j
20Z
100%
14,158
29,079
'550
7,909
19,595
213,362
6,249
9,484
167,557
2  1
Leasehold^
provemen
1/10
5,555
1,303
105,642
4,252
 29J
$2,513,479
$1,460,502
$1,052,977
$1,54
VESSEL R
MB
sty the Queen
in right of
the^rovince
of Bril
4.   deIdebL
1979 as
el was taken
1979
Acc^ueVinte
$2,600,000
29,304
$3, cl
 7l
$2,629,304
$3>   1
——|
—] |
 PUBLIC ACCOUNTS 15
BRITISH COLUfc
NOTES TO  CONSOLIDATED  FINANCIAL  STATEMENTS
YEAR ENDED  DECEMBER  31,   1979
1 facilities in Seattle under a long
 BRITIS1
i  COLUMBIA STEAMSHIP COMPANY (19
SCHEDULE OF ON-BOARD SERVICES
YEAR ENDED DECEMBER 31, 1979
75) LTD.
Catering
Revenue
services
Cost of
sales
income
Lounges
Revenue
Cost of
: sales
Income
Newsstanc
Revenue
Cost oi
Operati
: sales
Income
Duty free
Revenue
;shoP
Cost oi
Operati
: sales
.ng expenses
Income
Revenut
Lng expenses
Income
TOTAL ON-
-BOARD SERVICES
 1979
1978
Cost of
Operating
Total
Sales
r7
$
377,257
$
379,572
756,829
s
$ 702,966
268,719
340,113
608,832
Iso
56,362
172,298
94,134
257,021
34,308
167,647
137,378
224,009
162,841
171,686
85,335
38
151,373
29,390
180,763
78,875
187,772
102,662
20,766
123,428
64,344
92
164,758
48,321
213,079
237,382
124,886
35,766
160,652
33
69,713
76,730
103,980
52,860
52,860
46,945
|
79,443
$ 563,170
57,035
$ 377,578
$ 749,750
$ 677,790
$1,427,540
 BRITISH COLUMBIA SYSTEMS CORPORATION
~|
Balance Sheet
CURRENT:
J
FIXED. AT COST:
,0.6
[eTsSdTmpmvemenls                                               1.s1J
^T
Szr: P            S
9.8
Approved by .he Direclors:
Iff^W
Director *
^           ^^
MPAMYINGMil
 C ACCOUNTS 1979/80
SYSTEMS CORPORATION
)orated as a Crown Corporation
, the Systems Act S.Bj^97S!j*?i
I »TERM DEBT (NOTE 5)
I fflFICATES (NOTE 6)
 Statement of Income
and Retained Earnings
 PUBLIC ACCOUNTS IS
Statement of Chanaes   BRIT,SH C0LUMBIASYSTEMS corporation
jgf (Incorporated as a Crown Corporation
Sh Financial Position ^,,^^4*3^. ^
m>R THE YEAR ENDED MARCH 31
|ffiLICATION OF FUNDS:
Province of British Colurr
bia
H?Section8(5)oftheSys
ems Act
 237
2,229
Motel application of funds
7,866
18,078
1,577
ISng capital, beginning of 1
eyear
 1,064
(513)
$ 1,064
«»««..*.
 Notes to the Financial Statement
MARCH31,1980
1. THE CORPORATION
The British Columbia Systems Corporation is incorporated as a Crown
Corporation of the Province of British Columbia under the Systems Act S.E
1977, assented to September 1.1977.
gS^
a) provides data processing and related services required for govemmeri
c) subject to approval ol the Lieutenant-Governor in Council.'sets ratesfo 1
2. SIGNIFICANT ACCOUNTING POLICIES
As prescribed by Section 9(6) of the Systems Act. the financial statements !
Corporation. In such cases, as more fully described in notes 3 and 5.j
Is"dSS                                                                   !
Lea^^mpZZenls        - IIIterns of leases
C)AKrS^
d)Deve!opmen!Ss!sareexpensedihtheaccoun.sasincur,ed
 PUBLIC ACCOUNTS 1979/80                                                        F 143
BRITISH COLUMBIA SYSTEMS CORPORATION
(Incorporated as a Crown Corporation
under the Systems Act S.B?d%97gjZ H
EQUALIZATION OF LEASES
mV 0,477,000 (1979—$6,926,000) arising from the capitalization of certain
The^mlte^useMeconomiclifeof various capitalized computer and
NET INCOME
BBsuant to Section 8(5) of the Systems Act, the Corporation is required to
■MBsjerits net income to the Province of British Columbia annually.
LONG-TERM DEBT
■«1B|^^^^^^^^™
1983 L636i000
1984 1 513,666 V.
1985 137,000
■,||>uted annual interest                                       1,122,000
Capitalized lease obligations                               7,689,000
I Long-term portion                                              $3,760,000
f2ERTIFICATES
Hpgate net rentals payable by the Corporation under leases for personal
;groo,000 was issued in March, 1980. All of the certificates have been issued
|«i of the Corporation.'
™^	
 8. PENSION AND SUPERANNUATION PLANS
10.  MAJOR CONVERSION PROJECTS
I. COMPARATIVE FIGURES
 iiHitors' Ppnort                       British Columbia systems corporation
under the Systems Act S.B.C. 1977)
tinceotBritish Columbia:
have examined the balance sheet of the British Columbia Systems
Kation as at March31,1980 and the statements of income and retained
nfngs, and changes in financial position for the year then ended. Our
ndards, and accordingly included such tests and other procedures as we
I wfered necessary in the circumstances.
I leWorporation as at March 31,1980 and the results of its operations and.."..aj.
I |©era"y accepted accounting principles applied on a basis consistent
|!™A, CANADA.
A&C&w4iri~/   iM-i^tr^/
CHARTERED ACCOUNTANTS.
 HEALTH FACILITIES ASSOCIATION OF BRITISH COLUMBIA
British Columbia
ss Association of I
of Health
I have examined the balance sheet of the Health Facilities
Association of British Columbia as at 31 March 1980 and thj
statements of revenue and expenditure and surplus and changes
in financial position for the year then ended. My examination
was made in accordance with generally accepted auditirs
standards, and accordingly included such tests and othea
procedures as I considered necessary in the circumstances.  I
In my opinion, these financial statements present fairly the I
financial position of the Association as at 31 March 1980 and
 i   Act  of  Brit
1ARCH   31,    19?
$13,694,913        $   8,397
1,799,674 3,406
278,870
16,690,615 12,702
grants   (note  2)
Lzed  debenture  dii
1,701,805        $15,59
Hospital  Distr:
.nking   fund   insi
BlRM  DEBT   (note
678
535
545
429
1,249
910
24^676
777
856
29,046
633
655
172
$29,701
805
'312
1,991
675
49
769
4,367
726
10,444
224
14,811
950
786
604
$15,598
554
:  an   integral  par
 HEALTH   FACILITIES  ASSOCIJ
STATEMENT   OF   REVENUE  AND
EXCESS OF EXP
ENDITURE
Surplus (defi
sit) at f
Adjustment fo
-   change
for capital
grants
SURPLUS AT EN
D OF YEA
830,863
61,350
248,598
49,769
1,190,580
131,432
786,604
 1
S,
ii
IT C
HEALTH FACILITIES ASSOCIATION
OF
BRITISH COLUMBIA
STATEMENT OF CHANGES IN
FINANCIAL POSITION
1980
9
Sng CAPITAL DERIVED FROM
Bital grants from the Province
$ 4,817,520    $
271
,900
slue of sinking fund debentures
15,000,000
BLerest earned on sinking fund
WG  CAPITAL APPLIED TO
88,833
19,906,353
326
330
■scess of expenditure over revenue
131,432
108
988
■feduct amortizatiorfijEftarges which
do
■ not involve working capital
850
130,582
108
850
Suction in long-term debt
767,368
367
116
Kferuction grants to hospitals
1,917,293
928
8, 105,056
ffistment in mortgage
IASE (DECREASE) IN WORKING CAPITAL
5,000,000
15,920,299     1
,403
459
3,986,054    (1
077
129)
NG CAPITAL AT BEGINNING OF YEAR
8,334,784     9
411
913
NG CAPITAL AT END OF YEAR
$12,320,838    $8
334,
784
 iALTH   FACILITIES   1
;al  grants
>ital  costs  of health  facilit
 I FACILITIES ASSOCIATION OF BRITISH COLUMBIA
NOTES TO FINANCIAL STATEMENTS
YEAR ENDED MARCH 31, 1980
PRICTED FUNDS
(a)
Balance at beginning of year       $1,991,675    $3,364,144
Add (deduct)
Transfers from the Province      6,114,194      586,648
Capital grants made              (7,560,440)   (1,959,117)
Balance at end of year            $  545,429    $1,991,675
The Province has transferred certain amounts received from
the Government of Canada Health Resources Fund, to the
Association, to be applied to specific teaching and research
projects.  Interest earned on these amounts is to remain
with the Association.
(b)
British Columbia Medical Centre
During the year $49,769 held for the British Columbia
Medical Centre was transferred to the Association's revenue
(c)  Glendale Lodge Society
The Association holds in trust $1,249,910 for the Glendale
Lodge Society on the understanding that the funds will be
expended to renovate certain health care facilities it
 Sinking   fund   c
Series   JG   9.04%,
due  May  7,   1996
000 5,000
000 2, 0C I
000 11,500
609 743
144 1,05B
156 $10, <
Jinking   fund  debentures   series  JF and JG are  redeemable  in ffl
>r   in   part  before   maturity  at   the   option  of  the   Chairman  ofl
5.      COMMITMENTS
 PUBLIC ACCOUNTS 1979/80
HOUSING CORPORATION OF BRITISH COLUMBIA
 RECEIVABLES
 PUBLIC ACCOUNTS 1979/80
w^
HA-ninn
1979
1978
nd dollars)
[held fo°r retle
^833
pDEBTEDNESS,   secured
187
ILE TO THE  PROVINCE OF  BRITISH  COLUMBIA RE LAND
jUISITIONS
1,119
ILE TO THE  PROVINCE  OF  BRITISH  COLUMBIA,   HOUSING  FUNDS
29
SHAREHOLDER'S         EQU
375
^9
iz,r6'
11,385
9,590
13,287
Uv492
13,662
—
KTTON OF  BRITISH  COLUMBIA  (note 2)
AGE PAYABLE,   secured
lEI
142
W TO  HOUSING  CORPORATION OF  BRITISH  COLUMBIA
IREi
TOEBTEDNESS,   secured
37
STS PAYABLE AND ACCRUED  LIABILITIES
9
78
Rices from province of British Columbia (note 9)
——	
15,187
3,158
 HOUSING CORPORATION OF BRITISH COLUMBIA
3NSOLIDATED STATEMENT OF EARNINGS AND RETAINED E
FOR THE YEAR ENDED OCTOBER 31, 1979
EXPENSES
Cost of
Developed land
Undeveloped land
Provision for possible loss
EARNINGS FROM OPERATIONS
WIND-UP EXPENSES (note 1)
NET EARNINGS FOR THE YEAR
RETAINED EARNINGS - BEGINNING OF YEAR
RETAINED EARNINGS - END OF YEAR
 PUBLIC ACCOUNTS 1979/80
HOUSING CORPORATION OF BRITISH COLUMBIA
CONSOLIDATED STATEMENT OF SOURCE AND USE OF
CASH
FOR THE YEAR ENDED OCTOBER 31, 1979
1979
1978
dollars)
EOF CASH
Ln'i^land
1,799
1,203
lase in receivables"81"8 Unl'S
18
92
2,226
|ease8inUdeferred revenue
49
17
142
rease in prepaid expenses
42
Eeds on disposal of fixed assets
149
 -
15,830
5,045
JCASH
lase in receivable from Province of British
243
289
Rient of advances from Province of British
1,119
1,600
tease in mortgages payable
1,914
996
lase in accounts payable and accrued liabilities
1,909
1,570
Ease in mortgages receivable
W changes, net
4,807
41
9,992
■
KE IN CASH
5,838
549
INDEBTEDNESS - BEGINNING OF YEAR
1,678
2,227
SlM DEPOSITS (INDEBTEDNESS) - END OF YEAR
4,160
(1,678)
 HOUSING CORPORATION OF BRITISH COLUMBIA
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED OCTOBER 31, 1979
WINDING-UP OF THE OPERATIONS OF THE CORPORATION
Pursuant to a directive dated September 29, 1978 issued by the Min
. of Municipal Affairs and Housing, Province of British Columbia, tJ
operations of the Corporation are to be wound up. The real esta
sales subsidiary, Venture Realty Ltd., and certain assets of the
professional services division were sold effective November 30,
and an orderly wind-up of the operations of the real estate
Expenses related directly to the wind-up are disclosed separately
severance settlements with all employees of the Corporation and \
2.  SIGNIFICANT ACCOUNTING POLICIES
Principles of Consolidation
The consolidated financial statements include the accounts of Ho3
Corporation of British Columbia and the wholly-owned subsid:
Dunhill Development Corporation and HCBC Construction Ltd. I
as the operations of Venture Realty Ltd. up to the date of :
Carrying Charges and Overhead Expenses Capitaliz
The cost of land and housing units includes:
of sale, the mortgage is discounted to yield the prevailing j
interest rate, and profit equal to the discount is deferred e
 PUBLIC ACCOUNTS 1979/80 F 159
HOUSING CORPORATION OF BRITISH COLUMBIA
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED OCTOBER 31, 1979
SIGNIFICANT ACCOUNTING POLICIES (continued)
Consideration for Sales (continued)
Where collectibility of the outstanding balance of a mortgage is in
doubt and the appraised value of the security is less than the
Housing Funds Administered
The operation of the Housing Funds
Corporation of British Columbia
LAND AND HOUSING UNITS
I Completed for sale
Land
►       Development  costs
total Land and Housing Unit
1,265
14
3,974
5,253
502
150 7,424
150 13,906
 HOUSING CORPORATION OF BRITISH COLUMBIA
NOTES TO CONSOLIDATED FINANCIAL S
FOR THE YEAR ENDED OCTOBER
OTHER ASSETS
5.  INCOME TAXES
All of the issued shares of the Corporation are owned by the Provlrl
British Columbia and therefore the Corporation is not subject to
federal or provincial income taxes.
 HOUSING CORPORATION OF BRITISH COLUMBIA
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED OCTOBER 31, 1979
1 OTHER
INFORMATION
Fo
r The Fi
seal Year
(
1979
dollars)
(a)
settlements
122
680
!   (b)
Depreciation and amortization in the
—
=====
(c)
Included in fees of $71,000 (1978 -
$1,318,000) are fees charged to the
Ministry of Municipal Affairs and
Housing, Province of British Columbia,
Government projects as follows:
Fees for professional services
rendered, land acquisition and
Overhead recoveries
I
1,212
JL
1,350
(d)
Interest incurred in the year, all of
which has been capitalized to land
Nil
235
1	
 HOUSING CORPORATION OF BRITISH COLUMBIA
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED OCTOBER 31, 1979
CONTINGENT LIABILITIES
(a) The Corporation is conti
(b) Legal actions against the Corporation are as folio*
(i) A legal action has been brought against the Corporation 1
special damages in the amount of $460,000 plus general
damages and interest, or rescission of a prior transac
involving the sale of certain undeveloped lands in the
amount of $2,240,000. A counter claim has been filed bjl
the Corporation claiming foreclosure of the first
which the Corporation holds against these undevel
lands. The balance of principal and accrued inte
outstanding as at October 31, 1979 on this mortga
(ii) The Corporation is included as a defendant along with the
District of North Vancouver and the Province of Britii
Columbia in a legal action with respect to damages to
certain building lots sold by the Corporation in the
year. The Corporation holds first mortgages on these
rincipal i
1,000.
(iii) The Corporation has been named defendant in a legal act
claiming damages of $200,000 relating to alleged faul
roof construction in a completed project. The ultima
outcome and possible loss, if any, to the Corporation
 HOUSING CORPORATION OF BRITISH COLUMBIA
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED OCTOBER 31, 1979
3alance - end of yea
ICOMPARATIVE FIGURES
lin of the 1978 figures on the consolidated balanc
stated to conform to the 1979 financial statement
;se restatements have had no effect on earnings or
 1 I     ~H    1
INSURANCE CORPORATION OF BRITISH COLUMBIA
Automobile Insurance Act Fund
STATEMENT OF OPERATIONS
"T^r
"11
nlhsEM         j
Revenue
Vehicle premiums written
$394,750,000
12,121,000
$406,871,000
$302,103,000
11,235,000
$355,753,000
11,103,000
$366,856,000
$395,345,0001
13,777,000|
$409,122,00(1
ls65,289,OOo|
13,044,0001
$355,793,000
10,899,000
Total premiums earned
313,338,000
51,539,000
364,877,000
43'45o!o00
410,142,000
378,333,000]
58,189,0001
436,522,0o|
Claims operations expense
Expenses
Administrative
Commissions
283,106,000
25,289,000
308,395,000
31,303,000
22,256,000
313,210,000
27,732,000
340,942,000
36,368,000
25,158,000
338,102,0001
30,039,00|
368,141,00l
37,890,Oo|
26,684,000
53,559,000
61,526,000
64,574,00S
Total claims and expenses
Operating income
Extraordinary loss
Unappropriated surplus—
beginning of period
Appropriation to Rate
Stabilization Reserve (Note 4)
361,954,000
402,468,000
432,715,003 |
2,923,000
2,923,000
3,907,000
7,674,000
1,550,000
6,124,000
3,783,000
(6,000,000)
3,807,006j|
3,807,00|
3,023,000   1
Unappropriated surplus—
end of period
$   6,830,000
$   3,907,000
$   6,830,000 i
J
 PUBLIC
F.65
1 Insurance Corporation
of British Columbia
1   STATEMENT OF GENERAL OPERATIONS Ten m
onths ended December SI, 1979
Ten Months
Twelve Mo
ths Ended
Ended
December SI,
February^
December SI,
(Note 3)
j   Revenue
Net premiums written
$17,616,000
$20,221,000
$21,038,000
Net premiums earned
$17,749,000
$20,910,000
$21,258,000
Net claims incurred and
|      adjustment costs
10,447,000
11,154,000
13,408,000
Expenses
1     Administrative
3,938,000
4,245,000
4,703,000
Commissions
' 3,520,000
4,016,000
4,186,000
7,458,000
8,261,000
8,889,000
[ Total claims and expenses
17,905,000
19,415,000
22,297,000
1 Underwriting income (loss)
(156,000)
1,495,000
(1,039,000)
1 Investment income
2,071,000
1,785,000
2,461,000
1 Income on General
I    Insurance operations
1,915,000
3,280,000
1,422,000
1 Income on other operations
90,000
155,000
116,000
Income for period
2,005,000
3,435,000
1,538,000
I Unappropriated retained earnings
I   —beginning of period
1,323,000
838,000
1,790,000
I Appropriation to: (Note 4)
1   Catastrophe reserve
—
(2,350,000)
—
Rate Stabilization Reserve
(1,100,000)
(600,000)
(1,100,000)
I Unappropriated retained earnings
I   —end of period
$ 2,228,000
$ 1,323,000
$ 2,228,000
 Insurance Corporation
of British Columbia
BALANCE SHEET As at December S
,1979
ASSETS
Decern^
^™
December SI, j
(Note 3)
Cash in hands of agents
and banks
$      659,000
$ 38,002,000
$       400,000
Investments (Note 5)
525,325,000
616,870,000
448,226,000
Finance Plan receivables
4,683,000
26,531,000
1,276,000
Other receivables
10,942,000
20,755,000
13,110,000 j
Deferred premium acquisition
costs
8,445,000
20,094,000
5,841,000
Property and equipment (Note 6)
37,309,000
36,633,000
36,969,000 J
Approved by the Board:
^ISp!
mrector:£lL&yLtt{
$587,363,000
$758,885,000
$505,822,0001
 LIABILITIES
December SI,
Febrvnry^
Decembers^
Accounts payable and accrued
(Note 3)
charges
$ 23,887,000
$ 41,017,000
$ 29,930,000
Motor Vehicle Branch
706,000
9,721,000
970,000
Premiums in advance
—
287,443,000
—
Unearned premiums (Note 8)
107,889,000
14,117,000
77,436,000
Unpaid claims (Note 9)
377,123,000
333,757,000
325,073,000
509,605,000
686,055,000
433,409,000
Due to the Automobile Insurance
[Act Fund representing its:
;   (Note 4)
Rate Stabilization Reserve
61,600,000
61,600,000
61,600,000
;   Unappropriated surplus
6,830,000
3,907,000
65,507,000
3,023,000
68,430,000
64,623,000
578,035,000
751,562,000
498,032,000
RETAINED EARNINGS (Note 4)
1 Catastrophe reserve
3,200,000
3,200,000
3,200,000
Rate Stabilization Reserve
3,900,000
2,800,000
2,800,000
1 Unappropriated retained
1 earnings
2,228,000
1,323,000
1,790,000
9,328,000
7,323,000
7,790,000
$587,363,000
$758,885,000
$505,822,000
 Insurance Corporation
of British Columbia
"~|
STATEMENT OF CHANGES
N FINANCIAL POSITION
2H
Twelve Mon
Decembe^i
Resources provided:
From Operations (Note 10)
Automobile Insurance
Act Fund
$   5,494,000
$   9,077,000
$   6,940,00*
General Operations
2,068,000
3,528,000
1,617,00
93,773,000
—
30,453,00
Increase in unpaid claims
43,366,000
63,941,000
52,049,00
Collected for Motor
Vehicle Branch
20,288,000
57,178,000
60,314,00
Collected on Finance Plan
45,868,000
35,628,000
46,425,00
Sale of Property
and Equipment
184,000
8,223,000
653,000
Premiums in advance
—
287,443,000
—    1
287,443,000
24,021,000
271,305,000
484,000
38,111,000
4,187,000
5,842,000
29,303,000
62,452,000
344,954,000
2,397,000
380,591,000
(128,888,000)
84,427,000
654,872,000
570,445,000
$525,984,000  $654,872,000
 Botes to Financial Statements Decembe
[STATUS OF THE CORPORATION
The Insurance Corporation of British Columbia
ICBC) is a Crown corporation incorporated
bia Act S.B.C. 1973 (1st session), Chap-
assented to April 18,1973. ICBC has the
and capacity to act as an insurer and
rer in all classes of insurance and to
Hferate and administer the Automobile Insur-
jle Act (AIA) Fund.
me AIA Fund is by legislation a separate entity
incial reporting purposes. A statement
g the results of the operation of the Fund
Hjncluded with the financial statements of
®C and the balance of the Fund, which
Resents its accumulated net operating posi-
m, is reflected in the balance sheet of ICBC.
Iffi Fund consists of the revenues and expenses
Inbutable to the AIA Fund operations. All
ind liabilities are held by ICBC.
of Reporting
escribed by Section 18(3) of the Insurance
>ration of British Columbia Act, the finan-
itatements of ICBC are presented in
lance with generally accepted accounting
lents are carried as follows:
ffi relating to the subsequent year's Au-
ffi>ile Insurance Act Fund premiums, are
Sed to expense over the terms of the
(ffi^ice contracts to which such costs relate.
Wmiaiicn and Amortization
Bffiraation is provided on a straightline basis
Isgnenting in the month following that in
I jjffi assets are placed in service at rates which
Hffiiortize the original cost over the useful life
lEg-h asset. Leasehold improvements are
Mazed over the term of each lease plus the
I^Knewal period where appropriate.
'pital Lease
i-lfapital  lease  is  a  lease  that  transfers
Initially all the benefits and risks incident
to ownership of property to the lessee. The
Corporation has a major item of computer
equipment which it treats as a capital lease
(Note 7).
Unearned Premiums
The liability for unearned premiums is the
portion of premiums that relates to the unexpired  term of each  vehicle  policy,  General
Unpaid Claims
Unpaid claims includes „
and unpaid claims, based on the claims settlement experience of ICBC,
in for reported
files, and an es
3. CHANGE OF YEAR END
industry. Additional financial statements
4. RESERVES
AIA Fund
The purpose of the Rate Stabilization Reserve
is to lessen the potential impact of significant
variation in claims loss experience and the
equalization of rates under the FAIR Program.
Amounts will be withdrawn from this reserve
in loss years and conversely, amounts will be
added to the reserve in years with a surplus.
General Operations
ICBC has appropriated from General Operations retained earnings an additional
$1,100,000 to the Rate Stabilization Reserve.
trophe Reserve has been established to reflect
the impact of possible losses arising from
catastrophic occurrences. Catastrophes such
as earthquakes, storms, or conflagrations
occur at random and the losses arising could
be substantial.
The Rate Stabilization Reserve has been
established to lessen the potential impact on
General Insurance premiums of significant
ariations in claims loss experience in future
yean
;s will be
vithdra
i from this j
 Short-term Deposit Receipts, Call
Dec. 31,1979
Feb. 28,1979
DecJJIjI
Bonds (est. market value
—Dec. 31, 1979                    $166,280,000
—Feb. 28, 1979                    $160,575,000
—Dec. 31, 1978                    $162,713,000)
198,956,000
$525,325,000
$441,687,000
175,183,000
$616,870,000
$274,207,1
174,011,1
$448^2261
6. PROPERTY AND EQUIPMENT
Cost
Land                          $10,181,000
Buildings                    27,621,000
Accumulated
Depreciation
$      —
6,069,000
Net Book
1979
$10,181,000
21,552,000
Net Book
Value at
February 28,
1979
$ 8,708,000
21,560,000
NetBl
Valul
ll
$ 9,190j
21,7 1
Equipment                5,528,000
2,615,000
2,913,000
2,096,000
1,993J
Capital Lease            2,216,000
667,000
1,549,000
2,817,000
2,82el
Improvements            2,471,000
$48,017,000
1,357,000
$10,708,000
1,114,000
$37,309,000
1,452,000
$36,633,000
]«*§l
Depreciation has been charged at the following rates—Buildings 5
10-40%; Computer under capital lease 40%. Leasehold improvement
10%; Furniture and equipnl
enfe1Ffb^ls5979^ounSd0
nths ended Dece
mber31,1979 an
ounted to $2,634
000 (12 nil
The following is a schedule of futu
Year Ended December 31
remtLmle
*e payment, un
der capita, lease
$      996
Present value of the min
ing interest
mum lease pay
nd maintenance
(2tfl
$      84j|
Interest expensed in the ten mont
(12 months ended February 28, IS
hs ended Dece
nber 31 1979 ar
nounted to $307,000    ■
79 amounted t
$51,000).
8. UNEARNED PREMIUMS
Automobile Insurance Act Fund
General Insurance
Total Unearned Premiums
Dec. 31, 1979
$ 97,727,000
10,162,000
Feb. 28, 1979
$   3,821,000
10,296,000
Dec. 3 ,1
$ 66,31'|
11,121
$ 77,4311
mmm
$ 14,117,000
9. UNPAID CLAIMS
Dec. 31, 1979
$366,318,000
Feb. 28,1979
$322,759,000
$333,757,000
Dec.  1,1
$315 2E1
9,711
$325,011
$377,123,000
 Ten Months
Ended
December 31,
Twelve Months Ended
February 28,
1979
December 31,
1979
iiobile Insurance A
:tFund
(Note 3)
Rme for the period
$2,923,000
$6,124,000
$3,807,000
depreciation and an
ortization
2,571,000
2,953,000
3,133,000
ii flow from operat
ons
$5,494,000
$9,077,000
$6,940,000
|al Operations
|-cash item
Depreciation and an
$2,005,000
63,000
$3,435,000
93,000
$1,538,000
79,000
Si flow from operat
$2,068,000
J3^0O0
$1,617,000
JMMITMENTS
Suipment leased fo
ake the following pay-
ve years on property
periods of more than
12. PENSION PLAN
Certain employees participate in
a contributory
PUBLIC ACCOUNTS 1979/80
RSH PLOW FROM OPERATIONS
Employees contribute specified percentages of
salaries. ICBC contributes to the Plan all
amounts as actuarially determined, over and
above employee contributions, to fund the
benefits earned by employees under the Plan.
As of December 31, 1979 the Corporation has
fully provided for all past service liabilities of''
 n Plan. Contributions by ICBC ...
ten months ended December 31, 1979
$1,398,000 (12 months ended February 28
the
Itors' Report
=    in financial position and
ent of operations of the A '
__— Act Fund for tl
I. Our exami     '
results of its operations and the changes in its
financial position and the results of the operations of the Fund for the ten month period then
ended in accordance with generally accepted
accounting principles applied on a basis consistent with that of the preceding year.
CHARTERED ACCOUNTANTS
Vancouver, British Columbia
February 15, 1980
 LEGAL SERVICES SOCIETY
Office of the
Auditor General
Province of British Columbia
AUDITOR'S REPORT
I have examined the stateme
it of finan
:ial
position oi
Legal Services Society as a
-.  31 March
L980
and the ste
of income and expenditures
md surplus
for
the period
1 October 1979, the date of
commencemer
it o
; operations
31 March 1980.  My examinat
accordance
generally accepted auditing
standards,
and
accordingly
included such tesi
1 position of the Society as at 31 March 1980]
of its operations for the period then ended i|
ce with generally accepted accounting principl
ied by note 2 to the financial statements.
Erma Mom|
Auditor J
10 October 1980
,ish Columbi;
 PUBLIC ACCOUNTS 1979/80
F173
EXHIBIT A
LEGAL SERVICES SOCIETY
STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 1980
5TS
1 Cash                                           $
25,571
806,867
74,397
■Due from the Province of British Columbia
170,470
■Estimated recoveries (note 3)
40,000
■Prepaid expenses
1,791
$1,119,096
E.ITIES AND SURPLUS
Accounts payable                               $
240,764
Eurplus - EXHIBIT C
878,332
$1,119,096
B.ve accompanying notes are an integral part of the
1 ^ed by the Board:
i
//
^i-^i^S
'U/fy^L^pi^-,            \^^-^^<-^--^
| W.H^ fupprfr/- Chairman            Duncan W. Shaw
-  Board Member
:tober 1980
 F 174                 PROVINCE OF BRITISH COLUMBIA
EXHI1 |
LEGAL SERVICES SOCIETY
STATEMENT OF INCOME AND EXPENDITURES
FOR THE PERIOD 1 OCTOBER 1979 TO 31 MARCH
1980
INCOME
Grants
Province of British Columbia (note 2a)
$5, 100,811
Government of Canada
514,831
Other Income
300,00
5,915,62
Interest income
93,76 1
Legal costs recovered from clients (note 4)
27,49 ]
EXPENDITURES
8,07
129,29
6,044,92 1
Tariffs paid by the Province of
British Columbia (note 2a)
3,570,31
Administration
448, 89C
50,71
24,18
Development
11,20
Schools program
70,66
Public legal education
107,54
71,78
284,49
Native Courtworkers
575,31 1
Elizabeth Fry Society
62,54!
Community law offices
664,25S|
216,25
Recoveries - funded agencies (note 3)
(55,77 1
Branch offices
Excess of Expenditures over Income - EXHIBIT C
1,163,81
7,266,1?
$1,221,2! 1
 PUBLIC ACCOUNTS 1979/80
LEGAL SERVICES SOCIETY
STATEMENT OF SURPLUS
FOR THE PERIOD 1 OCTOBER 1979 TO 31 MARCH 1980
s:  Fixed assets v
snd of period - EXHIBIT A
 F.76
PROVINCE OF BRITISH COLUMBIA
LEGAL SERVICES SOCIETY
Notes to the Financial Statements
31 March 1980
1  Corporati
>n Amalgamation
The Legal
Services Society Act was proclairr
1979.  The Act provided for the a
the Legal
Aid Society and the Legal Service
and repea
ted the Legal Services Commission
Labilities, obligations, property
3ferred to and assumed by the new
effective
1 October 1979.
Significant   Accounting  Policies
tariffs  are  amounts billed  to the  Society   for   solicitor
Eees  and  costs   to  provide  legal  aid  to  persons   in need!
Phe  tariff  billings   are   approved  by   the   Society  and  pal II
jy the   Province  of  British  Columbia  through  the  Mini:
payments  in both  income  and  expenditures.
Property and  equipment  are  recorded  as  operating
expenditures   at   the   time  of   acquisition.
Accrued   vacation  pay   is   not  recorded   in  the   accounts
since   it   is   considered   that   it  would   not  have   a mate
Society  and   the   Community   Law  Offices   and  other   agen
unexpended  balances  of  grants   at  the   fiscal  year-end
refundable.      As   at   31   March   1980  such   unexpended  bal
due   to   the   Society  were   estimated   to  be   $40,000.
Recoveries   of   $55,775  during   the   period   include   $15,7^1
 LEGAL SERVICES SOCIETY
Notes to the Financial Statements
31 March 198 0
£egal Costs Recovered from Clients
KThese consist of amounts recovered in respect of legal
Accumulated recoveries included in the book value of net
pssets transferred from the Legal Aid Society, upon
incorporation of the new Society, amounted to $194,604.
Recoveries credited to income of the current fiscal
[period by the Legal Services Society amounted to $27,457.
. 1980 the Society was committs
ices totalling $20,570 which \
id for until the following fi:
 MEDICAL SERVICES PLAN OF BRITISH COLUMBIA
/\W^\        Province of
I &i%ir 1        British Columbia
USBBJ
Office of the
Auditor General
Province of British Columbia
AUDITOR'S REPORT
l of British Columbi;
a examined the statement of financial position i
al Services Plan of British Columbia operating
control of the Medical Services Commil
a as at 31 March 1980 and the state!
working capital deficiency for the ye&
dnation was made in accordance with ges
ng standards, and accordingly included!
■ procedures as I considered necessaryw
Medii
the direction a
of British Colu
operations and
ended. My exam
accepted audi
tests and oth
In my opinion, these financial statements present fair!
financial position of the Plan as at 31 March 1980 and |
results of its operations for the year then ended in
accordance with generally accepted accounting princig
modified by note 1 to the financial statements, applffl
basis consistent with that of the preceding year.  j
Ar/Ss\
ish  Columbia
 PUBLIC ACCOUNTS
mm.
EXH
P.79
MEDICAL   SERVICES   PLAN   OF   I
RITISH   COLUMBIA
OPERATED   BY AND  U!>
DER  THE
MEDICAL   SERVICES   COMMISSION   C
F   BRITISH   CC
LUMB
IA
STATEMENT   OF   FINANCIA
31   MARCH   19E
L   POSITION
1980
1979
l                                                                                           $
&nts  receivable
4,197,353
1,588,640
I
828,880
1,842,049
Hitish  Columbia
IS
16,200,000
5,785,993
$
18,870,929
ItLITIES
: overdraft                                                         $
reted  liability  for
Bresented  and  unprocessed
Bjefit   claims
527,503
15,923,522
52,500,000
$
14,111,966
318,978
15,457,223
45,500,000
68,951,025
75,388,167
kit capital deficiency
Exhibit b
63,165,032
56,517,238
$
5,785,993
?
18,870,929
laccompanying  notes   are  an  integ
ral   part   of
thes
2  fi
lancial
■Dved by  the  Commission:
 /ICES   COMMISSIC
431,471,022
1
750
356
723
052
191
216
762
19,883,088
451,354,110
264
690
788
63,165,032 $ llj
 MEDICAL SERVICES COMMISSION OF BRITISH COLUMBIA
NOTES TO FINANCIAL STATEMENTS
(ii)  The cost of furni
i)  No accrual for holiday pay is provided for
Kiuildings Corporation for the space occupied by the Medical
Msbrvices Plan.  In prior years these charges were absorbed by t
 OCEAN FALLS CORPORATION
Thorne
Riddell
CHARTERED ACCOUNT™
AUDITORS' REPORT
Province of Briti
1979 and the stat
Che balance
sheet of Ocean Falls Corporation as at Decembel
come and deficit and changes in financial posil
and accordingly included such tests and ocher
ecessary in the circumstances.
The accompanying
1. The ul
imace realization of assets and settlement ri II
tments to the financial statements which canno
In our opinion, s
these financial s
December 3
e matter referred to in the preceding paragr pi
esent fairly the financial position of the 1 II
, 1979 and the results of its operations and t
basis of account!
ng as descr
-^=JtL^ gM^tA
Vancouver, Canada
May 28, 1980
Chartered Accountants
jpSKSF
„E2L9
 PUBLIC ACCOUNTS 19
OCEAN  FALLS   CORPORATION
(Incorporated by Act  of  the  Legislature  of  B
ritish Columbi
BALANCE  SHEET AS  AT DEC
MBER 31,
1979
ASSETS
1979
1978
Kent assets
Hfeounts receivable
$ 3,047,558
5,412,079
132,724
29,770
8,622,131
$      656,833
7,281,598
82,394
29,765
8,050,590
CED ASSETS  (note  4)
4,060,000
9,985,497
^AGES RECEIVABLE,  less current portion
794,552
808,187
ID AND HOUSES HELD  FOR RESALE
17,500
$13,476,683
LIABILITIES
ENT LIABILITIES
H|unts payable and accrued liabilities
■hi operations  (note 2)
gent portion of mortgages payable
CONTRIBUTED  SURPLUS AN
D  DEFICIT
S19.531.286
3,450,881
18|366
$  7,061,712
3,317,148
17,549
31,895,533
13,136,820
45,013,775
23,533,229
TRIBUTED   SURPLUS
1 Sot from the Province of British Columbia
789,952
789,952
32,327,044
5,461,407
(31,537,092)
$13,476,683
318,861,774
1  ^Commitment and contingent liabilities  (notes
7 and 8)
1      ytWoved by  the Board
wmsBnKKk
)
 '    *»
PROVINCE Of
BRITISH COLUMBIA
Sales
ED DECEMBER 31,
1979
— 1
$26,96l
Selling expenses
Freight
2,378,521
34,178,985
 J_\
Cost of sales
Operating costs
24', 8
25,2 1
1,1 1
35,572,518
Loss from operatio
s
37,355,308
 '— 1
3,176,323
0tGeneraieandSadmi
listrative
1,385,895
1,3 1
1,508,492
8(1
Bank Interest
Gain on sale of fi
1,439,108
 6_
4,333,495
7,509,818
7,509,818
4,3 j
mill operation
>f  terminating
19,355,819
—
26,865,637
DEFICIT AT END OF
18 °f ye"
5,461,407
$ 5,4!
$32,327,044
 OCEAN FALLS CORPORATION
STATEMENT OF CHANGES IN FINANCIA
YEAR ENDED DECEMBER 31, 1
G CAPITAL DERIVED FROM
VPITAL APPLIED TO
king capital applied to operations
^Brdinary item
limated costs of terminating
|ll operations (note 2)
Ition of mortgages payable
m  IN WORKING CAPITAL POSITION
|HG CAPITAL DEFICIENCY AT BEGINNING OF YEAR
PITAL DEFICIENCY AT END OF YEAR
■1
719
469
5
10
5
790
145
18
349
000
791
578
20
20
927
345
583
819
$23
273
402
4,545
210
549
7,759,945
1,730
321
615
498
 OCEAN FALLS CORPORATION
NOTES TO FINANCIAL STATEMENTS
YEAR ENDED DECEMBER 31, 1979
1. ACCOUNTING POLICIES
On March 6, 1980, the Government of
realizable basis.  This basis of pr
realizable values and provides for
2. EXTRAORDINARY ITEM
The estimated costs of terminating
following:
Operating losses to date of shut-
Administrative costs
9,210,8
S19,355,8
3.  INVENTORIES
 3 facilities  $14,026,517   $4,144,248   $ 9,882,269   $9,120,461
:ess 3,388,550       -        3,388,5503<ifc.cl865,036
$17,415,067   $4,144,248    13,270,819    9,985,497
( INDEBTEDNESS
'ince of British Columbia
iterest at chartered bank prime rate
compounded quarterly with no fixed
terms of repayment
iterest at 8-1/4% compounded semiannually and maturing October 1984
.terest at 9-1/10% compounded semiannually and maturing September 1, 1985
53  $ 5,044.
000    2,000.
000    2,000,
i53   11,04-
$13,118,242  $13,1
[ loan from the Province of British Colt
:ured by a debenture having a first fixe
ler loans from the Province of British C
 riNGENT LIABILITIES
ermination of the Cor
> liability resulting fro
 PUBLIC ACCOUNTS 1979/80
1                                           PACIFIC COACH LINES LIMITED
■pee
Ipterhouse&Oa
(604)383-4191
lust  22,   1980
AUDITORS'   REPORT
. the  Shareholder of
■gcific Coach Lines Limited:
1 have examined  the balance   sheet  of Pacific Coach Line
s Limited  as  at
Irch 31,   1980 and  the  statements of operations,   retaine
d earnings,   changes
: financial  position and  changes  in capital  replacement
fund  for  the year
generally accepted
llting  standards,   and  accordingly  included   such  tests
and other procedures
|e considered  necessary  in the circumstances.
(our opinion,   these   financial   statements  present   fairl
,  the   financial
ffiion of the company as at March 31,  1980 and the res
jits  of  its  operations
jRhe changes  in its  financial position  for the year t
len ended   in accordance
wh generally accepted accounting principles which,   exc
pt for the changes
[^counting policies as referred to  in Notes  3 and 4 t
the  financial
stements, have been applied on a basis consistent with
that of the preceding
mm
 1
1,389,828 482H
m~-
/>T^-U      /Z't^J.
Z^D
,788,200 2.3SM
744,249 97jff
143,951 2,255^B
 :  liabilities:
Eounts payable and accrued   liability
Rerred revenue   (Note   7)
Bsidy adjustment due to  the Province
~    ritish Columbia  (Note 4)
/able  (Note 6)
inn debt   (Note 8)
SHAREHOLDER'S  EQUITY
ril  1,   1979   (Note   10)
ined earnings
$ 3,186,871
$ 855,865
285,673
287,356
134,919
3,607,463
1,143,221
257,721
370,000
2,560,800
2,599,615
6,425,984
4,112,836
Commitments   (Note  11)
Bent  liability (Note  12)
 PACIFIC COACH LINES  LIMITED
STATEMENT  OF  OPERATIONS
March 31, March 2 I
(H°te  2) (Note J
9,844,134 3,81! ,
7,424,509 1,15] I
 PACIFIC COACH LINES LIMITED
STATEMENT OF RETAINED EARNINGS
HRome for the year 515,090       81,990
liansfer from excess of appraised value of
assets over depreciated cost or nominal
value, April 1, 1979, of amount realized
through depreciation provisions or use 704,453        -
arnings, end of year $1,301,533   $  81,9!
 PACIFIC COACH LINES LIMITED
STATEMENT OF CHANGES  IN FINANCIAL POSIT
Loss  (gain)  on d
515,090        $      81
,798 (159!
1,634,517 3,287:
1,311,589 2,97:
322,928 3V\
314,272
 PUBLIC ACCOUNTS 1979/80
.
PACIFIC COACH LINES  LIMITED
T OF CHANGES   IN CAPITAL REPLACEMENT FUND
Df funds   (Not
e 5):
Year ended
March  31,
1980
(Note 2)
even months
March 31,
1979
(Note  1)
Net sh
Procee
lse  for  the  y
1 of fixed assets
on disposal of special
$     739,094
439,704
132,791
es  of  funds   (Note  5):
Purchases  of fixed asse
principal payments  on re
Payment of other long  t
)alance,  begin
241,517
112,279
38,815
918,978
482,312
 I COACH LINES I
The comp
The comp
 PUBLIC ACC0UN1
uipme
quipment
ted depr
■
5,642,895
317,114
258,295
23,000
744[249
$6,043,951
1,442,958
289,162
44,730
10,290
umula
2,352,626
?2,255,023
2 equ
tish Columbia Hydr
3 & Power
1 CO
nsiderat
on on Apr
il 1,
1979 together with
similar
that
H
1979.
ed by
g fina
2JS3
oach Sales
nated from the accoun
nent of operations.
 r of Municipal Affairs frc
(a) Royal Trust
11%% inter
including
1984. Balance of
irable at $1,176 per mont
: and principal, up to a
f  1, 1984.  Balance of
 PUBLIC ACCOUNTS 1979/80
':lfl
I The mortgages are secured by certain of the company's
I The aggregate future payments of principal are as follows:
1981          $ 2,330
1982             2,598
1983             2,899
$257,721
■Deferred revenue:
1980-
ch 31
1979
B Operating revenues                            $ 18,851
$ 20,534
■ Advance for property rental                     266,822
266,822
$287,356
Bbther long term debt:
1980 —
ch 31
1979
1  T. S. Holdings Ltd.                         $1,421,996
$1,460,811
1  The Province of British Columbia               1,088,204
1,088,204
IB Thompson-Okanagan Transit Ltd.                   50,600
50,600
$2,560,800
$2,599,615
and no intere
lis being charged thereon.
I&ployees of Pacific Coach Lines Limited are covered under on
IBntributory pension plans:
of two
(a)  Plan A, which was approved by the Government of the Prov
nee of
■  British Columbia in 1976, includes employees at March 31
1979, any
former British Columbia Hydro & Power Authority employee.
who wished
to transfer to the plan upon joining the company on Apri
1, 1979, and
I  any new employees.  Provision for current service is beir
g made accord i
ng
■  to the requirements of the plan. An actuarial report as
at December 31
■  1978 indicated an unfunded liability for past service ber
efits of
B  $2,286,800 which is being funded by equal annual payments
of $198,299
B  over a period of 23 years which commenced with the year e
nded March 31,
1980. 1
 (b) Plan B, which
Pacific Stage
tsh Columbia Hydro &
An actuarial report as at March 31, 1979 indicated a liability  I
attributable to membership in the plan prior to March 31, 1979 of]
t the same level as the current British Columbia j j
>lan rates an unfunded liability of $3,572,401
i  service costs attributable to the Plan afte:
The total unfunded liability for past and future service pens
Is $7,021,900.  The actuaries have indicated that assets ranging^
$1,867,000 to $2,900,000 may be available for transfer from Bi
prior to March 31, 1979.
future service liability related to Plan B. Had a provisio
during the year ended March 31, 1980 the subsidy from the P
 Excess of appraised value of assets over depreciate
■ April 1, 1979:
Page 6
1  cost or nominal value,
■The balance of $3,962,385 as at March 31, 1980 is c
Mnprised of the following
Icomponents-
■(a) Revenue and service equipment owned by the com
any
at March 31, 1979
$ 760,910
1(b) Revenue and service equipment acquired from
I   British Columbia Hydro & Power Authority
on April 1, 1979 (Note 2)
3,583,000
■(c) Parts inventory acquired from British Columbia
I   Hydro & Power Authority on April 1, 1979 (Note
2)           322,928
4,666,838
Less: Amount realized through depreciation
provisions or use and transferred to
retained earnings
704,453
$3,962,385
i Lease commitments:
lease agreements. Annual lease payments under agree
ments presently
IBtstanding are approximately as follows:
1981           $ 493,845
1982              461,465
1983              456,285
1984              456,285
1985              354,145
$2,222,025
Sgntingent liability:
IS September 3, 1977 a coach, the property of Vancou
rer  Island Transportation
ISipany Limited, was involved in a collision with tw
3 other vehicles on
Vancouver Island, responsibility for which the compa
ly denies.  As part of
iitffe purchase agreement referred to in Note 1, Pacifi
. Coach Lines Limited
rafreed to assume all of the existing and potential 1
labilities of the former
j operating company. The management of and legal coun
el for both companies
ire of the opinion that any possible loss from claim
arising from this
natter should not exceed the limits of the third par
liability insurance
.overage.
  PUBLIC ACCOUNTS 1979/80
PROVINCIAL RENTAL HOUSING CORPORATION
Office of the
British Columbia Auditor General
Province of British Columbia
AUDITOR'S REPORT
to the Shareholder of the Provincial Rental Housing
Rrporation, and
have examined the statement of financial position of the
Isovincial Rental Housing Corporation as at 31 December 1979
I m  the statement of accumulated return of investment and
hanges in financial position for the year then ended.  My
made in accordance with generally accepted
lEiting standards, and accordingly included such tests and
I Eer procedures as I considered necessary in the
I ffircumst;
Imy opinion, these financial statements present fairly the
IKancial position of the Corporation as at 31 December 1979
1 gl the accumulated return of its investment and the changes
*" s financial position for the year then ended in
ccordance with generally accepted accounting principles, as
idified by note 1 to the financial statements, applied on a
consistent with that of the preceding period.
 F 204                                           PROVINCE OF BRITISH COLUMBIA
exhib]
PROVINCIAL   RENTAL   HOUSING  CORPORATION
STATEMENT   OF   FINANCIAL   POSITION
FOR  THE   YEAR  ENDED  DECEMBER   31,    1979
ASSETS
1979
19I
CURRENT  ASSETS
Cash                                                                                  $          14,888
$      II
Short-term  deposits                                                        378,584
34]
Amortization   revenue   receivable                      8,419,236
13,39]
Prepaid  expenses  and  sundry accounts                35,545
13.77J
8,848,253
INVESTMENT   IN   RENTAL   HOUSING
-  at   cost   (note   3)
Properties   eligible   for   Federal   loans     65,188,968
65,181
Properties  wholly   funded  by trie
Province                                                                         3,836,972
4,0
Provincial   properties                                       24,648,553
93,674,493
17,74
86,94]
Less   -  accumulated   return  of
investment   (Exhibit   B)                                       8,306,758
5,73|
85,367,735
81,2ll
Approved by the  Board:
As**+s   t^^rriC^T
c ) Wmotei/ri
S-d W^sM\
(Director)              A
The  7  accompanying   notes   form   an  integral
part  of  these   financial   statements.
$94,215,988
$94,991
 PUBLIC ACCOUNTS 1979/
EXHIBIT  A
PROVINCIAL   RENTAL   HOUSING
CORPORATION
STATEMENT   OF   FINANCIAL
POSITION
FOR  THE   YEAR   ENDED   DECEMBER   31,    1979
LIABILITIES
mm  LIABILITIES
1979
1978
Bnterest  payable  and  accrued
Due  to Housing  Fund on current
Barrent  portion of  long-term debt
$13,965,433
57,049
$10,518,587
1,752,624
52,395
b-TERM   DEBT   (notes   4  and   6)
14,022,482
12,323,606
Due to Crown Land  Fund on  open
■account
^jenture mortgage  losns -
Canada   Mortgage   and  Housing
■Corporation -  Schedule  1
31,762,533
47,785,500
34,178,690
47,837,895
Less  - current  portion  as  above
79,548,033
57,049
82,016,585
52,395
79,490,984
81,964,190
SHAREHOLDER'S   EQUITY
RE CAPITAL
ijKhorized  10,000 common  shares
Itssued  and   fully paid
-  3 shares   (note  2)
*ji»jj
sSk
?RIBUTED   SURPLUS
669,076
669,076
llINED  EARNINGS
33,443
33,443
702,522
702,522
94,215,988
$94,990,318
 PROVINCIAL   RENTAL   HOUSING  CORPORATION
STATEMENT   OF   ACCUMULATED  RETURN  OF   INVESTME1
FOR   THE   YEAR  ENDED   DECEMBER   31,   1979
8,075,937
60,191
32,007
RETURN   <
INVESTMENT   FOR THE   YEAR
P   BEGINNING   OF   YEAR
BALANCE AT  END   OF   YEAR
2,574,810
5,731,948
 PUBLIC ACCOUNTS 1979/80
PROVINCIAL RENTAL HOUSING CORPORATION
STATEMENT OF CHANGES IN FINANCIAL POSITION
FOR THE YEAR ENDED DECEMBER 31, 1979
December 31
Return of in\
I Disposal of i
Tpental hous
l  Land   Fund
IggjWERE APPLIED  TO;
■Miuisitions  of public  rent;
•    ising   projects
Bijments   on   long-term   debt
Jlong-term  debt
■&SE   (DECREASE)   IN  WORKING  CAPITAL
BlS  CAPITA!,  AT   BEGINNING   OF   THE   YEAR
$ 2
574
173
810
343
6
883
735
9
631
888
901
609
9
352
287
654
16
258
550
(6
626
662)
1
452
433
$(5
174
229)
 PROVINCIAL RENTAL HOUSING CORPORATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 1979
SIGNIFICANT ACCOUNTING POLICY
Amortization Revenue
Amortization revenue is the annual amount charged fc I
repayment of capital costs with interest to Brit
Columbia Housing Managment Commission which mana<
Corporation's rental housing projects. The basis ofJ
charge is determined by agreement between the Fedeaj
Provincial authorities which subsidize the operatiS^
deficits of these low income/senior citizen housing
units.  Federal authorities do not subsidize wholly-J
This amortization revenue, after providing for i
and other expenses, is added to the Corporation'
accumulated return of investment, which is treat
reduction of the Corporation's investment in ren
ISSUED SHARES
ssued   shai
e
3   Of
the  Cc
rpc
ty   the   Que
right
of
th
bia   repres
■ited
by  the
ni
l are held by  Hei
rovince  of  Brit
:  of  Lands,   Pai
INVESTMENT IN RENTAL HOUSING
During the year the Corporation acquired from the C:|
Land Fund of the Ministry all remaining rental 1
projects and other related costs recorded in the Full
accounts, totalling $6,901,609, bringing its gros
investment in rental housing to $93,674,493, comp:
106 properties containing 8151 rental units. Dug
same period it returned to the Crown Land Fund 2 v
funded properties costing $173,343.
As at December 31, 1979 official transfer of titl
Corporation of its interest in joint Federal/Prov
projects had not been completed in respect of propel
the cost of which amounted to $24,648,553.
 PUBLIC ACCOUNTS 1979/80 F 209
PROVINCIAL RENTAL HOUSING CORPORATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 1979
~ LONG-TERM DEBT
a)  In prior years 39 loans were negotiated on Corporation
■ rental housing properties with Canada Mortgage and Housing
Corporation under the provisions of Section 43 of the
National Housing Act.  As at December 31, 1979 loan
If balances totalled $47,785,500 as outlined in Schedule 1.
I During the year the Corporation issued replacement
■ debenture documents correcting certain errors contained in
K the original issue and providing specific charges against
■ the properties so encumbered.  Repayment of principal and
M interest is generally amortized over a period from 48 to
50 years.  Repayment of these loans may extend to 2027.
d)  On the enactment in 1979 of the Ministry of Lands, Parks
■f and Housing Act, the assets of the Housing Fund were
transferred to form part of the Crown Land Fund.
J. AMORTIZATION REVENUE
Amortization revenue of $10,701,901 includes an amount of
$1,624,579 representing amortization revenue received by
' the Corporation in respect of certain properties acquired
during the
[ Corporatioi
[JSUBSEQUENT EVENT
l 9 3/4% debenture in
respect to the amounts
31, 1979.  The debenture
be dated January 1, 1979 and will be secured by a
t floating charge on all the assets of the Corporation
otherwise encumbered.
IQMPARATIVE FIGURES
ave been reclassified
  PUBLIC ACCOUNTS 1979/80
SCIENCE COUNCIL OF BRITISH COLUMBIA
COOPERS & LYBRAND
L„oUT C.NA
[■CIPAL AREAS
AUDITORS' REPORT TO THE MINISTER OF UNIVERSITIES
SCIENCE AND COMMUNICATIONS
We have examined the balance sheet of The Science
^British Columbia and Secretariat on Science, Research and D
lias at March 31, 1980 and the statements of research appropr
MBenditures and unexpended appropriations and operations
appropriations, expenditures and unexpended appropriations
then ended.  Our examination was made in accordance with ge
Council of
nerally
fixed as
fairly t
March 31
ended in
1 applied
ets, referred to in note 1, these financial s
e financial position of the Council and Secre
1980 and the results of their operations for
n a basis consistent with that of the precedi
taria
cip]
f
CZ^fU^o        V
(7y/Ka
1
1 May 7, lc
80                         CHARTERED ACCO
 PROVINCE OF BRITISH
COLUMBIA
THE   SCIENCE   COUNCIL
DF   BRITISH  C
DLUMBIA
SECRETARIAT ON  SCIENCE,
RESEARCH AN
3 DEVELOPMENT
BALANCE SHEET AS A
; t s
9,80
"«",
ERM DEPOSITS
I T I E S
1,241,233           "si
12,043            J
1,253,276            32
RESEARCH (note 2)
a  SECRETARIAT
 AND DEVELOPMENT
, EXPENDITURES
APPROPRIATIONS
APPROPRIATIONS
EARCH EXPENDITURES
THE PERIOD
BEGINNING OF PERIOD
END OF PERIOD
 PROVINCE OF B
AND SECRETARIAT ON SCIE
«CE, RESEARCH
AND DEVELOPMENT
STATEMENT OF OPERATIONS
APPROPRIATIO
NS, EXPENDITURES
AND UNEXPENDED APPROPRIA
T!ONS
X' l980  1980
1979
OPERATIONS APPROPRIATIONS
156,100
52I
EXPENDITURES
'900
;
Personnel recruitment
1,275
20,018
I
Professional fees
Salaries and employee benefits
Stationery and supplies
'539
16,278
109,330
3^059
25!
Travel
British Columbia Health Care Resea
="««.
2,584
176,308
2^700
35,938
50, !
UNEXPENDED APPROPRIATIONS FOR THE PE
RIOD
35,784
	
 THE SCIENCE COUNCIL OF BRITISH COLUMBIA
D SECRETARIAT ON SCIENCE, 'RESEARCH AND DEVELOPMENT
NOTES TO FINANCIAL STATEMENTS
FOR THE YEAR ENDED MARCH 31, 1980
ACCOUNTING POLICY
GRANT COMMITMENTS
the year, the Counci
5.  COMPARATIVE
 ~l
SURREY FARM PRODUCTS INVESTMENTS LTD.
(formerly Panco Poultry)
louche Ross M
 JC ACCOUNTS 1979/80
F217
wcheBossbGi
■i PRODUCTS  INVESTMENTS  L
the British Columbia Co
CONSOLIDATED BA1
JUTCE  SHEET AS  AT MARCH
31,   1980
1979
ASSETS
Runts receivable
?
104,511
6^992
104,511
14,865,100
I
13,870,986
Rcfued liabilities
LIABILITIES
34,700
106,091
1     tock                                                ~
^HOLDERS'  EQUITY
■2,600 $2.75 cumulative,  redee
mable,
par value $50 each
Bid and fully paid
■1,027 preferred shares
101,750 common shares
551,350
41,155
551,350
41,155
592,505
592,505
fed eamln8S  (deflCl°
(522,694)
14,172,390
$
104,511
14,870,986
L by the Director
ements.
 loucheBoss &Gq
FBRITISH COLUMBIA
FOR THE  YE
AR ENDED MARCH 31,   1980
rsf
1980
1979
$24,9681
22,0lM
Other income
364,
10,964
—*l
157,731
Bxpenses^^^^
488,
11,438
Interest"011
16,353
700
270,
88,
Insurance8(recovery)
Pension plan (recovery)
(1,227)
SellinRaandUdelivery
1
712,
12,647
1.56B
1,813,
145,084
feed claim
34,000
9,010!,
s      U1.084
$10.8^!
See accompanying
„«, „ „„.„.! .»,_«..
 PUBLIC ACCOUNTS 1<
1980 1979
anying notes to financial s
 louche Boss &Gx
SURREY FARM PRODUCTS INVESTMENTS V
 > 1979/80
T.S. HOLDINGS LTD.
Ierhouse<£
AUDITORS' REPORT
BB»ve examined the consolidated balance sheet of T. S. Holdings Ltd. as at
Irch 31, 1980 and the consolidated statements of operations and deficit and
IKes in financial position for the year then ended. Our examination was
rile in accordance with generally accepted auditing standards, and accordingly
;onsolidated financial statements present fairly the
ny as at March 31, 1980 and the results of its
Lons and the changes in its financial position for the year then ended
anges in accounting policies as referred to in Note 6 to the financial
 T.   S.  HOLDINGS LTD.
CONSOLIDATED  BALANCE SHEET
Due from the Urban Transit Authority
Materials and supplies,  at the lower of
s from Pacific Coach Lines Limi
APPROVED BY THE DIRECTORS:
$  57,876
$  «1
5,445
46,959
119,«
35,
79,359
51,214
41
26,217
27,
267,070
269,
1,472,596
1,511,
11.755 10,7'
 Mar
_h_
31
1979
ayable and ac
Province of
City of Kami
crued  liabi
liti
l   (Not
e 3)
$     261,254
50,000
14,930
326,184
$
206,280
50,000
256,280
icial Transit
Fund   (Note
4)
2,811,723
3,137,907
2
,850,538
3
,106,818
SHAREHOLDER'S DEFICIENCY
(1,378,557)       (1,033,855)
 T.   S.   HOLDINGS  LTD.
CONSOLIDATED  STATEMENT OF OPERATIONS AND DEFIC
irenue   (Note  6(a))
down
a di
jn li
posa
uida
jodwill to
of  fixed
ion of  in
reflect
lue   (Not
e 5)
5   (b))
253,890
7,000
 T.   S.   HOLDINGS  LTD.
CONSOLIDATED STATEMENT OF CHANGES   IN FINANCIAL POSITION
icial resources were used for:
gerations-
fcoss for the year
■redit (charges) not affect
ng working
Write-down of goodwill to
reflect
f  permanent decline in val
ue (Note 5
ion
Loss on disposal of fixed
i       (Note 5 (b))
1  subsidiary
Equity in income of compan
liquidated during the ye
ar
Efransit Fund
ilance  due  from Pacific Coach Lines
ffimited  ($1,511,411)  net  of decrease  in
advances   to  subsidiaries  accounted   for
by the equity method   ($1,499,669)
1,052,861
1,052,861
111,211
gse in working capital 72,396
fflg capital,  beginning of year 13,282
ffg capital  (deficiency),  end of year $(59,114)
(456
620)
32
308
(16
430)
4
300
1,067
744
11
742
1,067,356
14
495
27
777
$  13
282
 . S. HOLDINGS LTD.
(a) Principles of consolidation-
These consolidated financial statements include the
the following wholly-owned subsidiary companies:
by the equity method to their respective dates of sale
useful lives of the assets.
Leasehold improvements are amortized at rates related to tl
term of the leases.
Okanagan Transit Ltd.  are leased  to these  subsidiaries t
Ministry of Municipal Affairs  of  the Province of British Coli
for a one-time charge of $1 each;   the subsidiaries being rt
As a Crown Corporation of  the Province of British Columbia I
company and its wholly-owned subsidiaries are exempt from  J
 PUBLIC ACCOUNTS 1979/80
No
ge   2
■ Fixed as
sets:
Marc
1980
1979
1       Leaseh
ent and  furnitu
old  improvement
re
$12,044
9,284
9,617
$13,419
9,284
18,038
1    Less:
Accumulated dep
reciation
30,945
11,755
40,741
10,789
I   Net bo
ok value
$19,190
$29,952
Due  to t
he Province of British Co
lumbia:
The bala
ice  represents
an interes
t-free prou
issory
no
.e due Marc
h
31,   1980
Due  to P
ovincial Transit Fund/
Pacific Coach Lines Limi
ted:
There are no specific  t
rms  for r
apayment   of
these
amounts  and  r
0
Interest
is charged  the
eon.
Lraord
nary  items  and
subsequen
1 Thompson
Okanagan Trans
Lt  Ltd.   in
curred a  1
ss   of
$74
321  in the
year
ended March 31,   1980 an
effectiv
e August  1
1980
the
Annual Ope
rating
Agreemen
for the  trans
t  system
in the Cit}
of Ka
mlo
>ps was car
Effective
April  1,   1980
the opera
tions and
ixed   a
sse
s  of Vance
over
Island Tl
ansit Ltd.  wer
taken ov
er  for nil
era
ion by  the
Metro Trc
nsit Operating
Company.
As a rest
It of the discontinuance
for nil consider
n of all  c
perations
by the cc
mpanies   subseqi
ent to th
j year end
the un
amo
tized bale
nee of
goodwill
as at March 31
1980 has
been writt
en off
as
an extraoi
dinary
 nee of British Columbia
land Transit Ltd.
nagan Transit Ltd.
From the Urban Transit Au
Thompson-Okanagan Trans
From the City of Kamloops
$1,660,117   $1
) the loss frc
passenger fares, to an amount based on fixed charges, revenue rj
revenue miles, and vehicle maintenance excluding passenger fa
(b) Vancouver Island Transit Ltd.
Effective with the 1980 fiscal year the basis of subsidy calc]
was changed by agreement with the Minister of Municipal Affai
a fixed amount established at the beginning of each year to a*
short term interest, gains and losses on fixed asset disposal
 UNIVERSITIES COUNCIL
Mocgan &
Company
) I TORS'   REPORT
 F 230                                            PROVINCE OF
BRITISH COLU
UNI VERS 1
IES  COUNCI
CE SHEET
SETS
CASH
1980
$ 230,289
rd
CASH HELD  FOR  EXTERNAL ORGANIZATIONS   (N
ee-4)      '
53,029
ACCOUNTS  RECEIVABLE
4,048
ACCRUED   INTEREST RECEIVABLE
FURNITURE AND  EQUIPMENT  (Note  1)
ILITIES
$ 287,366
$ ill
ACCOUNTS  PAYABLE
$    16,352
$ 1
LIABILITY FOR UNEXPENDED  FUNDS HELD  FOR
EXTERNAL
ORGANIZATIONS   (Note 4)
53,029
UNEXPENDED C
PERATING G
BALANCE AT BEGINNING OF YEAR
100,105
EXCESS OF REVENUE OVER  EXPENDITURES
117,880
-|
BALANCE AT END OF YEAR
$ 287,366
—1
$ n.1
Approved by the Universitie
meeting #95
held  June   23,   1980.
^rQ2^#u«.^
m
Chairman,   UCBC
-Chairm
an,   UCBC
 PUBLIC ACCOUNTS
1979/80
l
UNIVERSITIES  COU
CIL
TURE
STATEMENT OF  REVENUE AND
EXPEND
FOR  THE YEAR  ENDED  MAR
H 31,
980
I.       felth comparative fiqures  for the pe
/ember  I,   1978 tc
March 31,   1979   (No
1980
1979
five months)
UE
rant   -  Province of British  Columbia
$  523,693
$ 275,831
■nistrative  fees  to external   organizatior
s
4,048
21,225
3,108
548,966
278,939
DITURE
73,653
38,975
Hoyees' salaries
182,494
49,856
nployee benefits
21,514
2,446
28,059
IBts to other organizations
5,000
5,000
ravel   expenses
30,251
15,325
ging expenses
11,449
3,131
Wee  rent
62,027
14,154
:fice equipment   leases
6,601
3,034
t^e furniture and  equipment  purchases   (No
te  1)
1,872
1,087
hinting,  stationery  and office supplies
8,840
9,265
dephone and  telegraph
8,009
4,396
listage and  courier service
3,247
1,933
3,445
1,327
1,803
846
431,086
178,834
|^ REVENUE OVER  EXPENDITURE FOR THE YEAR
$ 117,880
$ 100,105
117,880 $ 100,105
 NOTES  TO  FINANCIAL STATEMENTS
MARCH 31.   1980
3.     EXCESS  OF  REVENUE OVER  E
  F 234                                           PROVINCE OF BRITISH COLUMBIA
URBAN TRANSIT AUTHORITY
Urban Transit Authority
of British Columl
ASSETS
OPERATING DIVISION
Cerent Assets
$ 2,096,596       1
Sundry
29,581        1
3'741'481
Fixed Assets (notes,
^g      I
ASSET DIVISION
IsKffi
T^ I
Receivable from the Province of British Columbia
18,411
Receivable from operating division
Inventory
81,050      1
 71
1|008'289    fl
fixed Assets (note 3)
25.457,980
26,466,269      1
S30.401.157        j
SPECIAL PURPOSE FUND
$ 2,050,000     H
Cash
Approved by the Board                                   /~\
C5\       i                      /                 Director        \U//                                   Director    fl
W
 PUBLIC ACCOUNTS 197
/80
te Sheet as at March 31, 1980
LIABILITIES AND EQUITY
£M^
1   OPERATING DIVISION
fl   Current Liabilities
1       Accounts payable and accrued liabilities
$     604,298
Payable to the Province of British Columbia
Payable to contractors
795,177
1      Patab^tolsseTdivision
61,576
3,650,226
■     Contributed surplus
284,662
3,934,888
■ ASSET DIVISION
B Current Liabilities
■      Accounts payable and accrued liabilities
 2JL547
I Equity
1     Contributed surplus
26,180,850
■     Retained earnings
259,872
26,440,722
26,466,269
$30,401,157
I SPECIAL PURPOSE FUND
1     Fund Balance (note 4)
$ 2,050,000
 Urban Transit Authority of British Columt
Operating Division
Statement of Revenue and Expenditure
Year ended March 31, 1980
Expenditures
Opera
inga
nd maint
Vehicl
Other
Adminis
trativ
Salaries an
employe
Proles
Office
Marke
ting
Net Revenue
 PUBLIC ACCOUNTS 197
a Transit Authority of British Columbia     ^^P5^y
[(Division
ZJIH
tnent of Revenue and Expenditure and
i led Earnings
lended March 31, 1980
i
$     558,032
65,495
20,202
5,053
648,782
i hires
[lion
296,106
20.202
47,171
25,431
388,910
hvenue and Retained Earnings
l of Year
$     259,872
 PROVINCE OF BI
um
Urban Transit Authority of British Colun I
Statement of Contributed Surplus
Year ended March 31, 1980
OPERATING DIVISION
from the Province of Britis
and equipti
fi Columbia
Balance at end of year
ASSET DIVISION
Balance at beginning of year
Transfer from operating divi
ion
Appraised value of revenue i
from the Province of Britis
fo£bf
British Columbia, at cost
heProvinc
Grant received from the Pro\
ince of Bri
 In Transit Authority of British Columbia
b to Financial Statements
[ended March 31, 1980
Itatus of the authority
Phe Urban Transit Authority of British Columbia was created bj
Hjffivince of British Columbia on June 29, 1978 under the Urban Tr
kuthority Act. The majority of the sections of the Act were brought into
Bfflproclamation on July 20, 1978.
Counting policies
a)
Operating division
The operating di
sts of those assets,
liabilities, re
and expenditures
j wr
ite to the provisioi
n of transit si
dties of the Authi
irity, the defi
cits of
which are fully c<
hareabl
e between the parti
cipating mun:
ties and the Proi
! of Bri
tish Columbia in accordance w
ith the
rban Tl
•ansit Authority !
\ct and the related
regulations.
The asset division consists of those assets, liabilities, revenues and
expenditures which relate to the revenue equipment and other
Hj|mS|K|j|assets owned by the Authority and leased to its contract
operators for use in the provision of transit services. The lease fees
reflected in this division are included in the expenditures of the
operating division.
Fixed assets
Fixed assets transferred from the Province of British Columbia have
been recorded at appraised value. The appraisal for revenue vehicles
was carried out by General Appraisal of Canada Limited as at June
30, 1979. Other fixed assets have been recorded at cost.
Depreciation is provided on the straight-line basis using the
following annual rates:
Trolley 3.33%
Appraised revenue vehicles Remaining useful life
The majority of the appraised revenue vehicles will be leased to the
 Notes to Financial Statements
(continued)
3.  flxed assets
Operating division
4. SPECIAL PURPOSE FUND
During the year the Authority received $
Transit Operating Company. This fund is m
accounting. The portion of these funds no
repayable to the Province of British Colum
5. COMPARATIVE FIGURES
At March 31,1979 the Authority had not er
agreements pursuant to which transit ope
Therefore comparative figures for the periot
Ca
$
148,857
Accumulated
depreciation
$           7,443
S
210,025
$         16,618
$   2
5,719,963
34,123
3,754,086
$        296,106
$   2
$        296,106
 |(tors' Report
ave examined the balance sheet of the Urban Transit Authority of
lia as at March 31, 1980 and the statements of operating division
■JfflS.the statement of contributed surplus for the year then endeSKjjjBfl
 _as made in accordance with generally accepted auditing standards,
BBffijly included such tests and other procedures as we considered
^opinion, these financial statements present fairly the financial
H^he Urban Transit Authority of British Columbia as at March 31, 1980
BSlts of its operations for the year then ended in accordance with
11 accepted accounting principles applied on a basis consistent with that
 AUDITOR'S REPORT
TO THE CHAIRMAN AND MEMBERS OF THE
WORKERS' COMPENSATION BOARD, AND
TO THE MINISTER OF LABOUR
PROVINCE OF BRITISH COLUMBIA:
r 1979 and the cc
s' Comp
ensed sfc
:ordingly included such tests
irt of the Board's Consulting /
in, subject to
)0, these fina
ittion of the I
ss balance
at 31 I
nt fairly th
generally accepted accounting principles which, except for tl
in note 1(d) to the financial statements, have been applied on
 S' COMPENSATION BOARD
UU*^/& j&oCct- /C<^^sa*^y<
 sres|ss|k|     sa
Si     sIe     S  "I   "i
I   l„    I   ll.-§ii||    IMill
Si l|{|llll!lli fill Mill 111
Plil'i 11 ililll'liili
 BLIC ACCOUNTS 1!
I ^KERS' COMPENSATION BOARD
   ACTUARY'S REPORT
The Accident and Silicosis Fund Liabilities included in this
report have been computed by the Board in accordance with
methods and assumptions approved by us.
The Pension Liabilities for the Accident and Silicosis Funds are
for pensions in effect as at December 31, 1979, but excluding
pensions arising from injuries to Federal Government workers
(Class 19). The present value of increases in pensions effective
January 1,1980 has been included in the Liabilities. The Pension
Liabilities have been computed using the same mortality,
remarriage, net interest rate and other assumptions used for the
valuation as at December 31,1978. The net interest rate of 2%%
makes implicit provision for the future indexing of pensions on
the assumption that interest earnings on Board assets in excess of
2%% will correspond to future increases in the Consumer Price
The Unfinalled Claims Liabilities for the Accident and Silicosis j
Funds are shown separately for rateable Classes and for deposit
Classes (excluding Class 19), and are based on projections of
future claims payments and awards using ratios developed from I
the Board's claims experience, average benefit rates, the net
interest   rate   assumption   of  2%%   and   where  applicable j
mortality, remarriage and other assumptions used for computing 1
Pension Liabilities.
We have examined the bases used in the development of the I
Board's 1980 assessment rates and have compared these rates 1
with Board costs experienced in recent years. If future Board 1
costs continue at the percentages of payroll experienced in 1
1979, it is our opinion that the 1980 assessment rates in the |
aggregate are not adequate to provide for the currently accruing I
costs and the amounts required to meet the Board's objective of
amortizing the unfunded liabilities by December 31, 1986.      |
 In our opinion, the amounts set out below which have been
determined by the methods and assumptions described above
make reasonable provision for the future liabilities of the Board
as at December 31, 1979 subject to the Board levying
assessments in future years sufficient to provide for any
Consumer Price Index related increases in benefits that are
greater than those which can be provided from interest earned
on the Board assets in excess of the valuation net interest rate
of 2%%.
Accident Fund
Pension Liabilities $   587,132,000
Unfinalled Claims Liabilities
—Rateable Classes 410,084,000
—Deposit Classes 27,115,000
$1,024,331,000
Silicosis Fund
Pension Liabilities                                          $ 13,433,000
Unfinalled Claims Liabilities 3,545,000
$ 16,978,000
Robert T. Tipping, F.S.A., F.C.I.A.
f Eckler, Brown, Segal & Company Ltd.
I Consulting Actuaries
1^ March 14, 1980
 I
o
§ o*
6 D^
o z|
1
1
l!
?!
il
I
ll
gHjgf
1 WKIj
ROVINCE OF BRITISH COLUMBIA
lillli!
§!?§iiis£iij 1
5'S'i|pSsl|J 1
■ 5SS1111 IIS 1
:   3||||||||||j 1
1 111 I III:
  ADMINISTRATION EXPENSES
STATEMENT OF ADMINISTRATION EXPENSES
 AT EMENT OF COMPENSATION SERVICES EXPENSES
ISMENT OF SUPPORT SERVICES EXPENSES
  INDEX TO DETAILS OF REVENUE AND EXPENDITURE
REVENUE
EXPENDITURE
  Research Program  D   73
Field Operations Program                                      ......... d   11
EEpS< *•-*•>:                         S  48
£ciS^:iz:i             zE»zzl£
■L.. Transportation. Communication and High-1.^  |
Fifed'ctTtaHPe    'tu'aij                                             '°m
B-  :^^^^^
^la^'^ SerVlCeS COmmiSSi°" u\?3
F^SSrTor R°ads.Ma'n™a"ce.:::::::i     ::::::::: ° li?
§~=S£S.|       |
  pj
Official Opposition (NDP)  D    4
Open Facilities (Attorney General)  D   31
Operating Grants. Education   D   67
  PUBLIC ACC
)UNTS 1979/80                                                                  G S
^^;rmMims^f jj
io§clii^^,riiir'ii
 OTISH COLUMBIA
SPECIAL WARRANTS
 j
PUBLIC ACCOUNTS 1979/80
J
Htj&^VoKlSS-Emergt^H-lth Services Commission                                                                |   8
D125
O    SwIlLling Vote 68-St.dcn, Aid Proe»n.  j
D  69
ll SwIeLtlng Vote 187-Posul Br£h                                                                                                        C 10
D171
 

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