Province Approves Additional Appropriations for 2006-07

The province has approved $102 million in additional program and capital expenses for the fiscal year ended March 31, bringing total additional appropriations for 2006-07 to $222 million, Finance Minister Michael Baker said today, Nov. 5.

The amounts have already been factored into the province's financial statements, released Aug. 9. Nova Scotia ended the year with a surplus of $182 million on its $8.3-billion budget.

Nova Scotia's legislature annually authorizes spending budgets -- or appropriations -- for individual departments, groups of departments or other categories. Where final net expenses in each area exceed the budgeted amount, an additional appropriation is required. The new appropriation is approved by Executive Council and documents are filed with the legislature.

In April, the province approved $120 million in additional appropriations for expenses required at that time. This included $48.7 million for program spending -- universities, economic development, health promotion and tourism -- and $71.5 million in capital expenses for roads, school construction, and land purchases.

Executive Council approved another set of additional appropriations on Nov. 1 to reflect the actual results of the 2006-07 financial statements. Of the $102 million approved, about $98 million is because of actuarial results for the pension valuation adjustment, a change in accounting policy at the Department of Health, and final calculations related to capital purchase spending. Extra spending within six smaller departments accounts for the rest of the money.

Details of 2006-07 additional appropriations are available in Public Accounts Vol. 1 - Consolidated Financial Statements, available at www.gov.ns.ca/finance .