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PUBLIC ACCOUNTS VOLUME 1 SHOW SECOND BALANCED BUDGET

Released on September 12, 1996

Finance Minister Janice MacKinnon today released Volume I of the
1995-96 Public Accounts, the earliest date this document has been
tabled in the province's history.

Volume I of the 1995-96 Public Accounts contains the Government of
Saskatchewan's main financial statements, which are the General Revenue
Fund and Summary Financial Statements. It provides a full accounting
of the financial affairs and resources of the General Revenue Fund,
Crown Corporations and agencies, boards and commissions.

"The state of the province's finances is very encouraging," MacKinnon
said. "For the second consecutive year, we've closed the books on a
balanced budget, and our overall fiscal picture is improving.

"We faced some serious challenges in 1995-96 from a $438.4 M loss in
budgeted equalization payments, and unexpected surprises, like the
severe forest fire situation last summer," MacKinnon said. "But thanks
to a strong and growing economy and the commitment of Saskatchewan
people to careful fiscal management, we successfully managed those
challenges."

Some major overall financial indicators contained within the 1995-96
Public Accounts are:

þ government revenues of $5,131.8 M. Improved revenues from
non-renewable resources, up nearly $150 M, and corporate income
taxes, up approximately $82 M, respectively from budget estimates,
helped compensate for the $438.4 M decline in equalization
revenues. Since the 1991-92 fiscal year, equalization transfers as
a portion of the province's revenues have declined from 15.3 per
cent to 4.2 per cent.

þ government expenses of $5,113.4 M, slightly down from original
budget projections, despite an extra $62 M in unexpected fire
fighting costs. Overall government operating expenditures in
1995-96 are $125 M lower than in 1991-92.

"Because we are continuing to balance the budget, laying a secure
foundation for our improving economy, Saskatchewan people are regaining
more of their financial freedom," MacKinnon said. "This year, we used
that freedom to invest an additional $40 M in health, one of the core
priorities of Saskatchewan residents."

MacKinnon also noted that the early release of the Public Accounts,
Volume I, continues the government's commitment to open and accountable
government. This release represents the fifth year in a row that the
government has set a record for early tabling.

"Governments which are open and accountable must table their financial
documents in a timely manner. The public can then judge if a
government is successfully following its financial plans. In the
1995-96 Public Accounts, the public can see that our financial plans
are on track."

Volume II of Public Accounts, which provides detailed information on
specific transactions within the General Revenue Fund, is currently
being prepared and will be released prior to the Oct. 31 legislative
deadline.

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For more information, contact:

Ron Podbielski
Director of Communications
Saskatchewan Finance
Regina
Phone: (306) 787-6578

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