Newsrelease

September 24, 1997
Edmonton, Alberta

"Alberta taxpayers want to get value for their dollars spent on programs and services. By releasing the final details of 1996-97 Public Accounts today, we have made good on our promise to be accountable to the taxpayers of Alberta. Fiscal responsibility will continue to be a hallmark for this government."

Government Releases 1996-97 Public Accounts

For the fourth consecutive year, the Alberta government has provided taxpayers with the complete Public Accounts before September 30. The details contained in Volumes 2 to 4 of the Public Accounts supplement the Consolidated Financial Statements, Volume 1 of the 1996-97 Public Accounts released on June 26. Once again, Alberta leads the nation in accountability to its citizens by providing timely information earlier than other jurisdictions.

The 1996-97 Public Accounts are the financial statements for government departments, provincial agencies, Crown-controlled corporations, universities, public colleges, technical institutes and Regional Health Authorities. This is the last year that the Public Accounts will be published as separate volumes from each Ministry’s Annual Report. Next year, all the financial details in Volumes 2, 3 and 4 of the Public Accounts will be contained in the Ministry Annual Reports, including financial statements for associated boards and agencies.

Highlights for 1996-97:

• Alberta made a $2.5 billion net debt payment in 1996-97 and recorded its third budgetary surplus in a row. Previous surpluses - $958 million in 1994-95, $1.132 billion in 1995-96 - also went directly to the net debt.
• Revenues improved from 1995-96 performance. Total revenues for the year were up close to seven per cent or $16.7 billion. This improvement is largely the result of stronger resource and income tax revenues - businesses recording higher profits and more Albertans working and paying taxes than the previous year.
• Government saved $201 million in interest costs in 1996-97 - a result of paying down net debt in 1995-96.
• Spending remained in control. Alberta spent a total of $14.2 billion in 1996-97. Of this, nearly three-quarters went toward priority areas of health, education and social services, up 3 per cent or $265 million from 1995-96. The biggest increase in spending was in health - up 5.4 per cent or $204 million over 1995-96.
• Alberta’s net debt now stands at $3.7 billion, less than half what it was in 1993-94.
• The 1996-97 Public Accounts Volume 2,3 and 4 reflect changes in government operations since 1993 including:
  • first complete set of audited financial statements for regional health authorities,
  • information on salaries and benefits for government employees, universities, public colleges, technical institutes, regional health authorities, and government agencies, boards and commissions.
  • detailed financial information on pension plans, the Heritage Savings Trust Fund, and the Medical Research Endowment Fund and Scholarship Fund
  • financial statements of universities, university foundations, public colleges, technical institutes, the Alberta Cancer Board, the Provincial Mental Health Board, Regional Authorities and Alberta Lotteries.
• Attachment 2 provides a breakdown of 1996-97 government spending by function. Salaries of senior officials in the public sector are included in Volumes 2, 3 and 4 under the heading "Compensation Paid to Senior Officials and Other Employees".

For information on specific ministries contact the appropriate communications branch. For further details on the 1996-97 Public Accounts, contact:

Trish Filevich
Director of Communications
Telephone (780) 427-5364 (Edmonton)
webmaster@treas.gov.ab.ca

Attachment 1 - Contents of Public Accounts Volumes 1, 2, 3 and 4

Volume 1 contains the audited consolidated financial statements of the Province of Alberta and was released on June 26, 1997. The consolidated financial statements include the accounts of government entities including the General Revenue Fund, revolving funds, the Alberta Heritage Savings Trust Fund, and other regulated funds, Provincial agencies and Crown-controlled corporations.

Volume 2 contains the financial statements of the General Revenue Fund, details of General Revenue Fund, details of General Revenue Fund expenditure and revenue by department, audited financial statements of revolving funds and regulated funds, and reports that are required to be included with the Public Accounts in accordance with the Financial Administration Act and other statutes, or by direction of the Provincial Treasurer.

Volume 3 contains the audited financial statements of Provincial agencies, commercial enterprises and Crown-controlled corporations. Audited financial statements of subsidiaries of Provincial agencies are also included in this volume.

Volume 4 contains the financial statements of universities, university foundations, the Banff Centre for Continuing Education, public colleges, technical institutes, the Alberta Cancer Board, the Alberta Heritage Foundation for Medical Research, the Provincial Mental Health Board, Regional Health Authorities and the Workers' Compensation Board.

Attachment 2 - Contents of Public Accounts Volumes 1, 2, 3 and 4

Note: After viewing any table, press your "back" button to return to the document.

Click here for graphic - "General Revenue Fund Expenses by Function"

Return to: Alberta Treasury News Releases - | - Alberta Treasury Home Page - | - Government of Alberta Home Page