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Budget 2014 March 6, 2014. Fully balanced budget Operational surplus $2.6 B Operational revenue $43.0 B (up 5.4% from 2013-14) Operational expense $40.4.

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Presentation on theme: "Budget 2014 March 6, 2014. Fully balanced budget Operational surplus $2.6 B Operational revenue $43.0 B (up 5.4% from 2013-14) Operational expense $40.4."— Presentation transcript:

1 Budget 2014 March 6, 2014

2 Fully balanced budget Operational surplus $2.6 B Operational revenue $43.0 B (up 5.4% from ) Operational expense $40.4 B (up 3.7% from ; excludes disaster/emergency assistance) Change in net assets (consolidated surplus) $1.1 B increase

3 Economic strength Real Gross Domestic Product (GDP) Growth

4 Economic strength Unemployment rate, 2013

5 Oil price differential $10 $37

6 2013 Flood $1.1 B in provincial support over next 3 years $222 M operational expense $859 M on capital Money to help people and businesses for reconstruction and mitigation

7 Booming population

8 Priority spending

9 Investing in families and communities 2014/15: $1 B increase to core programs New operating funding for: Health K-12 schools Post-secondary education Human services

10 Comparing expense growth to population plus inflation growth

11 Building Alberta Increasing net assets

12 Building Alberta Estimated Assets and Liabilities, March 31, 2015 Alberta is the only province in Canada with net assets ($45 B)

13 The 4 rules of borrowing Limited to 3.0% of operational revenue Must have a clear repayment plan Must protect Alberta’s AAA credit rating Borrowing only for the capital plan

14 A plan for debt repayment Annual amounts set aside for debt repayment

15 Future asset position By 2017, Alberta will have $49B of net assets $61B in financial assets $34B in capital assets $22B of capital debt (thru P3s and direct borrowing) After a 30-year amortization the debt will be paid off

16 Net debt to GDP

17 Investing in our future Total Savings Plan expected to reach $26B by

18 Savings Management Act Investing in our future $1 B (by ) $200 M ( ) $2 B (by ) $200 M ( )

19 Budget twitter.com/AB_TB_Finance #ABbudget


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