FINANCIAL INFORMATION

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1 FINANCIAL INFORMATION

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3 TABLE OF CONTENTS FINANCIAL INFORMATION PAGE FINANCIAL SUMMARIES Consolidated Consolidated Budget of Government Reporting Entity Non-Consolidated Financial Summary Revenue Summary Expense Summary Budgetary Income Summary by Source Taxes and General Revenues by Source, (Chart) Major Territorial and Provincial Tax Rates Total Appropriations by Department/Corporation O&M and Capital Expenditures, Budget (Chart) Operation and Maintenance Appropriations Summary by Department/Corporation Capital Appropriations Summary by Department/Corporation Main Estimates Historical Comparison O&M and Capital Expenditures, to (Chart)

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5 CONSOLIDATED SUMMARY 5

6 GOVERNMENT OF YUKON CONSOLIDATED BUDGET OF GOVERNMENT REPORTING ENTITY < 1 ) ($000s) Comparable 12 J ESTIMATE FORECAST ESTIMATE ACTUAL Revenues by source From Government of Canada Taxes and general revenues Funding and service agreements with other parties Income from investment in government business enterprises < 3 l 1 '104, ,600 70,135 16,332 1,113, ,513 59,055 14,832 1,053, ,205 53,325 15,856 1,344,564 1,339,309 1,283,657 Expenses by function Health and social services Community and transportation Education General government Natural resources Justice Business, tourism and culture Interest on loans Adjustments < 4 l 400, , , , ,338 76,033 51,400 2,044 (19,107) 385, , , , ,173 74,759 51,619 2,044 (2,417) 371 ' , , , ,487 72,056 47,830 2, ,313,880 1,306,079 1,255,668 Recovery of prior years' expenses Annual Surplus Accumulated Surplus, end of the year Net Financial Assets, end of the year 0 0 4,603 30,684 33,230 32,592 1,831,773 1,824,429 1,801, , , ,052 (1) Includes Government of Yukon departments, Yukon College, Yukon Development Corporation, Yukon Housing Corporation, Yukon Hospital Corporation and Yukon Liquor Corporation. (2) Restated Estimate and Actual to be consistent with the Estimate presentation. (3) Includes Yukon Development Corporation and Yukon Liquor Corporation. (4) Adjustments to Estimate- estimated lapses net of prior-year revotes. Adjustments to Forecast- estimated lapses. Adjustments to Estimate- estimated lapses and yet to be allocated budget estimates. 6

7 GOVERNMENT OF YUKON CONSOLIDATED BUDGET OF GOVERNMENT REPORTING ENTITY MAIN ESTIMATES ($000s) Other Departments Entities (SJ Eliminations (SJ Estimate Revenues by source From Government of Canada 1,147, ,147,941 Grants from Government of Yukon 0 108,205 (1 08,205) 0 Taxes and general revenues 152,604 12,090 (677) 164,017 Funding and service agreements with other parties 23,886 40, ,387 Income from investment in government business enterprises (?) 9,198 10, ,306 1,333, ,904 (108,882) 1,395,651 Expenses by function Health and social services 420,922 80,198 (71,468) 429,652 Community and transportation 292,231 32,034 (16,386) 307,879 Education 201,650 41,531 (21,028) 222,153 General government 172, ,458 Natural resources 119, ,538 Justice 81, ,036 Business, tourism and culture 65, ,058 Interest on loans 0 1, ,861 Adjustments (14,722) 0 0 (14,722) 1,338, ,624 (1 08,882) 1,384,913 Surplus for the year (4,542) 15, ,738 (5) Includes Yukon College, Yukon Hospital Corporation and Yukon Housing Corporation. Budgets of these entities are based on the information available at the time of the preparation of the Main Estimates. (6) Changes made to remove inter-company revenues and expenditures from the consolidated estimates. (7) Includes Yukon Development Corporation and Yukon Liquor Corporation. 7

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9 NON-CONSOLIDATED SUMMARIES 9

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11 FINANCIAL SUMMARY ($000s) Comparable ESTIMATE FORECAST ESTIMATE ACTUAL Calculation of Surplus (Deficit) Revenue Expenses Annual Surplus (Deficit) Accumulated Surplus, beginning of year Accumulated Surplus, end of year 1,287,496 1,289,297 1,249,238 (1,281,181) (1,282,761) (1,254,676) 6,315 6,536 (5,438) :.:.:.~.~:; l)~~~l~hl~:hh; : = : : ::::~:~:~:~:~:;:;:;: 111!11~\~~~~~~:~~11 1,360,960 1,358,129 1,366,398 lllll\ijl~~~~~~\~~11 1,367,275 1,364,665 1,360,960 Calculation of Net Financial Assets Net financial assets, beginning of year Surplus (Deficit) for the year Effect of change in non-financial assets Net financial assets, end of year 88,180 93, ,352 6,315 6,536 (5,438) (64,373) (90,401) (59, 734) 30,122 9,521 88,180 11

12 REVENUE SUMMARY ($000s) Comparable ESTIMATE FORECAST ESTIMATE ACTUAL TRANSFERS FROM CANADA Grant from Canada Canada Health Transfer Canada Social Transfer Cannabis Transfer ,443 39,539 14, ,443 38,028 14, ,506 37,321 13, , , ,611 RECOVERIES FROM CANADA Operation and Maintenance Capital!l!l!lill!lllll!l:'. ': 93,256 37,626 91,230 51' ,785 20, , , ,625 THIRD-PARTY RECOVERIES Operation and Maintenance Capital 23,332 9,581 18,220 7,295 21,272 14,364 32,913 25,515 35,636 TAXES AND GENERAL REVENUES Tax Revenue Other Revenue 109,561 40, ,637 39, ,716 51, , , ,366 TOTAL REVENUES 1,287,496 1,289,297 1,249,238 12

13 EXPENSE SUMMARY RECONCILIATION OF APPROPRIATIONS BY DEPARTMENT I CORPORATION ($000s) Comparable DEPARTMENT I CORPORATION ESTIMATE FORECAST ESTIMATE ACTUAL Yukon Legislative Assembly 8,386 8,368 Elections Office Office of the Ombudsman 1 '185 1 '185 Child and Youth Advocate Office Executive Council Office 23,403 23,403 Community Services 147, ,909 Economic Development 18,073 18,073 Education 191, ,964 Energy, Mines and Resources 75,865 80,133 Environment 43,260 42,375 Finance 12,868 12,876 French Language Services Directorate 5,058 5,058 Health and Social Services 474, ,922 Highways and Public Works 208, ,824 Justice 73,762 72,792 Public Service Commission 48,121 49,643 Tourism and Culture 33,247 32,483 Women's Directorate 2,101 2,104 Yukon Development Corporation 46,825 7,625 Yukon Housing Corporation 41,933 41,858 Yukon Liquor Corporation one dollar one dollar Loan Capital and Loan Amortization 5,000 5,000 7,486 1,751 1, , ,938 17, ,261 75,634 37,342 10,501 3, , ,559 69,420 43,456 35,184 1,913 8,157 31, Total Appropriated Amounts < 1 l 1,462,871 1,439,679 1,326,083 Tangible Capital Assets (net) (72,828) (93,009) Investment in Land Development (12,275) (19,989) Expenditures on Loan Programs (14,070) (16,050) Other Adjustments (net) (82,517) (27,870) (51,727) 6,795 (10,292) (16,183) Total Expenses 1,281,181 1,282,761 1,254,676 ' 1 > Restated Forecast, Estimate and Actual to be consistent with the Estimate presentation. 13

14 REVENUESUMMARYBYSOURCE ($000s) SOURCE ESTIMATE FORECAST Comparable ESTIMATE ACTUAL TRANSFERS FROM CANADA Grant from Canada Canada Health Transfer Canada Social Transfer Cannabis Transfer Subtotal Transfers from Canada RECOVERIES Government of Canada Type II Mine Sites Child Welfare Labour Market Development Agreement Land Claims Implementation French Language Programs French Language Services Young Offenders lnuvialuit Final Agreement Legal Aid Infrastructure Funding Programs Other Third-Party Recoveries Alaska Highway (Shakwak) French Language Programs Third-Party Health Care Costs Airports Other < 1 l Subtotal Recoveries illllliiiii~:~ili ~1~'~~~~~ 919, , ,506 39,539 38,028 37,321 14,633 14,073 13, ,...11J~o~;ijm~:: 973,615...: 971,544...: ,611.:.... ::::!!::::i:l!lil!li>~;':; =:::~:: ~~:::.:~. :~::::,!.:11~~;~7~::!!!l!!!l!llllilll~.~~~ll 25,760 28,622 30,630 12,105 9,978 13,749 7,372 6,367 6,181 3,125 3,125 3,076 2,748 2,248 2,213 3,996 3,996 2,128 1,281 1,181 1,281 1,558 1,117 1,506 1,034 1,034 1,030 34,551 47,354 17,473 37,352 37,343 25, , , , ~ ~------~-- 6,730 6,730 10, ,196 5,026 6,128 1,843 1,843 1,801 lllll!llllllllll!llll 17,891 11,676 16, ~ ~ ~-- ijji:ijiiiiiii~~,~~~~~i 32,913 25,515 35, ~ ~ ~- 111\llilli~l~~~~$.~11 163, , ,261 14

15 REVENUE SUMMARY BY SOURCE (Cont'd) ($000s) Comparable SOURCE ESTIMATE FORECAST ESTIMATE ACTUAL TAXES AND GENERAL REVENUES TAX REVENUE Personal Income Tax Corporate Income Tax Property Tax Grant-in-Lieu of Property Tax Fuel Oil Tax Insurance Premium Tax Tobacco Tax Liquor Tax OTHER REVENUE Liquor Profit Investment Income and Other Interest Licences, Fees, Registrations and Permits: Motor Vehicle Business and Professional Continuing Care Hunting, Fishing and Outfitting Building Safety Campground Permits Land Titles Land and Mineral Leases and Royalties Other Lands, Mines and Forestry Fines Sale of Land Aviation Operations Miscellaneous Subtotal Taxes and General Revenues iii:j:::i:1:1i~il4~~:i lllllllillillilii~~~~~ll <<<:;:; ::::::::::::::::::::::~~~::... :::i:!if,i:::4,~:;p,~~:: ::::IIJiil~~~~~~~~l~lll :;:;:;:::::::;:::::::::;:;:;:;:;:;:.. -:.-:-:-:. : : : : ::. TOTAL REVENUE ~::;:?:::~f:f c:~;da, :::::1~~$.~ij4,Q~f ~~~~~~~~~~~~~~~~~~~~~~~~~~~f:iii 65,928 67,528 70,904 11,078 12,196 9,877 5,173 5,173 5, ,590 8,025 7,971 2,841 2,447 2, '184 10,501 10,221 4,555 4,555 4, , , , ~~------~~----~~~ 8,332 8,332 8,496 5,698 5,215 7,597 4,700 4,700 5,342 4,631 4,631 5,000 2,469 2,469 2, ,610 1,610 2, ,392 7,660 15,570 1,315 1,315 1, ,525 39,236 51, , , ,366 1,287,496 1,289,297 1,249, ~ :::H=:=n::: ::nn~;=- =-;.::;.; < 1 l Restated Actual to be consistent with the Estimate presentation. 15

GOVERNMENT OF YUKON TAXES AND GENERAL REVENUES BY SOURCE 2018-19 Business and Other Taxes and Revenue 7C Motor Vehicle 3C Sa le of Land sc Investment Income

16 GOVERNMENT OF YUKON TAXES AND GENERAL REVENUES BY SOURCE Business and Other Taxes and Revenue 7C Motor Vehicle 3C Sa le of Land sc Investment Income 4C Property Tax 3C Tobacco Tax 8C Income Tax 53C Liquor Tax and Profit 9C Note: Represents the portion by source of each dollar of locally raised revenue. 16

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18 MAJOR TERRITORIAL AND PROVINCIAL TAX RATES January ' 1 PERSONAL INCOME TAX CORPORATE INCOME TAX COMMODITY TAXES BASIC HIGH GENERAL SMALL MANUFACTURING RETAIL UNLEADED DIESEL RATE TAX BRACKETS INCOME RATE BUSINESS & PROCESSING SALES TOBACCO GAS FUEL %!! AX ON INCOME) (2) SURCHARGE % PI % (4) ~5cigs ~ere elllte " " " Yukon II) 6.40 s $46, $46,605-93, $93, , $144, , > $500,000 Northwest Territories 1 ' s $42, / $42,209-84, $84, , >$137,248 Nunavut s $44, $44,437-88, $88, , >$144,488 British Columbia s $39, $39,676-79, $79,353-91, $91, , $110, , >$150,000 Albertaltl < $128, $128, , $153, , $205, , >$307,547 Saskatchewan 1 ' s $45, $45, , > $129,214 Maniloba s $31, $31,843-68, > $68,821 Ontario s $42, / $42,960-85, $85, , $150, , > $220,000 Quebec ~ $43, $43,055-86, $86, , > $104,765 New 9.68 s $41, Brunswick 1 " $41,675-83, $83, , $135, , >$154,382 Prince Edwerd Island ~ $31, $31,984-63, > $63,969 Nova Scotia 1 " ~ $29, $29,590-59, $59,180-93, $93, , >$150,000 Newfoundland s $36, & labrador $36,926-73, $73, , $131, , S$184,590 18

19 MAJOR TERRITORIAL AND PROVINCIAL TAX RATES January Notes to Table: (1) Rate changes may have occurred since the time of the survey (January, 2018). Reference should be made to each jurisdiction's Department of Finance to determine current rates or upcoming rate changes. (2) Income tax brackets are indexed using the Consumer Price Index for New Brunswick, Saskatchewan, Northwest Territories, Nunavut, and Yukon. (3) The following jurisdictions levy a surcharge on personal income tax: Prince Edward Island- 10% of provincial tax in excess of $12,500; Ontario- 20% of provincial tax in excess of $4,638 and 36% of provincial tax in excess of $5,936. (4) Provincial share of Harmonized Sales Tax for Newfoundland, New Brunswick, Nova Scotia, Ontario and Prince Edward Island. (5) Yukon - Effective July 1, 2017 corporate income tax rate decreased from 15%, small business rate decreased from 3% and tobacco tax increased from 21 cents per cigarette to 25 cents per cigarette. Tobacco tax will increase to 30 cents per cigarette on April 1, (6) Northwest Territories- Two tax rates exist for gasoline- for highway usage (10.7 cents per litre) and for off-highway usage (6.4 cents per litre). The 6.4 cent rate applies for communities not on the highway system. Tobacco tax increased from 28.6 cents per cigarette effective April 1, (7) Nunavut -Tobacco tax increased from 25 cents per cigarette on March 15, (8) British Columbia- Effective January 1, 2018 a sixth tax bracket came into effect for income over $150,000, general corporate tax increased from 11% and cigarette tax increased from 23.9 cents per cigarette. Fuel tax rates are for fuel on highways and include carbon tax rates of 6.67 cents per litre for gas and 7.67 cents per litre for diesel. Carbon tax is scheduled to increase on April 1, Rates do not include regional taxes. (9) Alberta- Carbon tax was introduced January 1, As of January 1, 2018 gasoline tax includes 6.73 cents per litre carbon tax and diesel includes 8.03 cents per litre carbon tax. (1 0) Saskatchewan - Beginning July 1, 2017 personal income tax rates will be reduced 0.25% each year until they are 10%, 12% 'and 14% in Effective July 1, 2017 corporate income tax rate was reduced from 12% and will be further reduced to 11% July 1, The Manufacturing and Processing tax credit remains at 2% reduction. (11) Manitoba- no recent or upcoming tax rate amendments to note. (12) Ontario- The small business rate decreased from 4.5% effective January 1, Tobacco tax increased from cents per cigarette on January 1, There will be an additional increase in 2019 by 2 cents per cigarette. (13) Quebec- Effective January 1, 2017 the lowest personal income tax rate was decreased from 16%. Between 2017 and 2020 there will be a gradual reduction of general corporate tax rate to 11.5%. Gasoline rate includes 0.8 cent per litre carbon tax; diesel rate includes 0.9 cent per litre carbon tax. (14) New Brunswick- Effective April 1, 2018 the small business rate will decrease to 2.5%. (15) Prince Edward Island- No recent or upcoming tax rate amendments to note. (16) Nova Scotia- No recent or upcoming tax rate amendments to note. (17) Newfoundland & Labrador -A June 2016 temporary increase in gasoline tax was fully reduced from 33 cents per litre on December 1,

20 TOTAL APPROPRIATIONS BY DEPARTMENT I CORPORATION ($000s) DEPARTMENT I CORPORATION Comparable ESTIMATE FORECAST ESTIMATE ACTUAL Yukon Legislative Assembly Elections Office Office of the Ombudsman Child and Youth Advocate Office Executive Council Office Community Services Economic Development ~~:i:i:ii::ili~l:ij;:$$~:: 8,386 8, '185 1 ' ,403 23, , ,909 18,073 18,073 7,486 1,751 1, , ,938 17,724 Education Energy, Mines and Resources iiiiiiiiii]i;~~~~il 191, ,964 75,865 80, ,261 75,634 Environment 43,260 42,375 37,342 Finance 12,868 12,876 10,501 French Language Services Directorate 5,058 5,058 3,148 Health and Social Services 474, , ,558 Highways and Public Works 208, , ,559 Justice 73,762 72,792 69,420 Public Service Commission 48,121 49,643 43,456 Tourism and Culture 33,247 32,483 35,184 Women's Directorate 2,101 2,104 1,913 Yukon Development Corporation 46,825 7,625 8,157 Yukon Housing Corporation 41,933 41,858 31,703 Yukon Liquor Corporation Loan Capital and Loan Amortization Total Appropriations ( 1 ) lllllllllll~llll~~~~~~ll one dollar one dollar 0 5,000 5, ~ ~ iiiii~ij~~~~~ll! 1,462,871 1,439,679 1,326,083 ::::::=================== liiiiiiiiliiiiiiiiiiiiiiiiiiiiiiiiiioil ( 1 ) Restated Forecast, Estimate and Actual to be consistent with the Estimate presentation. 20

GOVERNMENT OF YUKON O&M and CAPITAL EXPENDITURES BY DEPARTMENT 2018-19 BUDGET $000s Tourism and Culture $31,381 Yukon Housing Community Services $155,990 Highways and Public Works $255,017 Economic

21 GOVERNMENT OF YUKON O&M and CAPITAL EXPENDITURES BY DEPARTMENT BUDGET $000s Tourism and Culture $31,381 Yukon Housing Community Services $155,990 Highways and Public Works $255,017 Economic --Development $31, Education $192,786 Health and Social Services $430,895 /environment $47,069 Resources $79,166 Note: "Other" includes Yukon Legislative Assembly, Elections Office, Office of the Ombudsman, Child and Youth Advocate Office, Executive Council Office, Finance, French Language Services Directorate, Public Service Commission, Women's Directorate, Yukon Development Corporation, Yukon Liquor Corporation and Loan Capital and Loan Amortization. 21

22 OPERATION AND MAINTENANCE APPROPRIATIONS SUMMARY BY DEPARTMENT I CORPORATION ($000s) Comparable DEPARTMENT I CORPORATION ESTIMATE FORECAST ESTIMATE ACTUAL Yukon Legislative Assembly 8,318 8,318 7,438 Elections Office ,750 Office of the Ombudsman 1,180 1 ' Child and Youth Advocate Office Executive Council Office 23,351 23,351 23,760 Community Services 93,171 89,371 85,582 Economic Development 17,002 17,002 16,586 Education 179, , ,744 Energy, Mines and Resources 71,650 75,668 73,591 Environment 41,639 40,834 36,037 Finance 12,228 12,228 10,489 French Language Services Directorate 5,049 5,054 3,140 Health and Social Services 375, , ,934 Highways and Public Works 135, , ,505 Justice 71,252 70,126 67,671 Public Service Commission 47,538 49,030 42,776 Tourism and Culture 28,219 28,219 27,334 Women's Directorate 2,060 2,060 1,910 Yukon Development Corporation 45,325 6,125 6,084 Yukon Housing Corporation 19,259 19,515 17,461 Yukon Liquor Corporation Loan Capital and Loan Amortization ~ : 1. : 1. i... : : :::. :.. :::,.... one dollar one dollar 5,000 5,000 one dollar 0 Total O&M to be Voted < 1 l :::.::... : ,184,264 1 '132,475 1,080,226 < 1 > Restated Forecast, Estimate and Actual to be consistent with the Estimate presentation. 22

23 CAPITAL APPROPRIATIONS SUMMARY BY DEPARTMENT I CORPORATION ($000s) DEPARTMENT I CORPORATION ESTIMATE FORECAST Comparable ESTIMATE ACTUAL Yukon Legislative Assembly 68 Elections Office 5 Office of the Ombudsman 5 Child and Youth Advocate Office 5 Executive Council Office 52 Community Services 54,077 Economic Development 1,071 Education 12,100 Energy, Mines and Resources 4,215 Environment 1,621 Finance 640 French Language Services Directorate 9 Health and Social Services 99,661 Highways and Public Works 72,742 Justice 2,510 Public Service Commission 583 Tourism and Culture 5,028 Women's Directorate 41 Yukon Development Corporation 1,500 Yukon Housing Corporation 22, ,538 1,071 21,938 4,465 1, ,278 82,174 2, , ,500 22, ,356 1 '138 15,517 2,043 1, ,624 70,054 1, , ,073 14,242 Total Capital to be Voted ( 1 J 278, , ,857 < 1 > Restated Forecast, Estimate and Actual to be consistent with the Estimate presentation. 23

24 MAIN ESTIMATES HISTORICAL COMPARISON ($000s) ~~~~~~~~1~1111!Ill OPERATION & MAINTENANCE CAPITAL TOTAL '125, ,409 1,434, ,085, ,620 1,391, ,049, ,779 1,362, ,019, ,410 1,313, , ,772 1,225, , ,619 1 '151, , ,717 1,089, , ,516 1,075, , ,618 1,003,231 Note: These figures reflect the voted expenditures as per the estimates for the relevant year and have not been restated for purposes of comparison. Figures do not include Loan Capital and Loan Amortization. 24

GOVERNMENT OF YUKON 0 & M and CAPITAL EXPENDITURES 2014-15 TO 2018-19 1,600 1,400 1,200 1,000 1/) 800 1: g ~ ~ 600 400 200 0 2014-15 2015-16 2016-17 2017-18 2018-19

25 GOVERNMENT OF YUKON 0 & M and CAPITAL EXPENDITURES TO ,600 1,400 1,200 1,000 1/) 800 1: g ~ ~ DCAPITAL Note: These figures reflect the voted expenditures as per the Main Estimates for the relevant year and have not been restated for purposes of comparison. 25

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FINANCIAL INFORMATION

FINANCIAL INFORMATION 2016-17 1 2 This page left blank intentionally. TABLE OF CONTENTS FINANCIAL INFORMATION 2016-17 PAGE FINANCIAL SUMMARIES Consolidated Consolidated Budget of Government Reporting Entity