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Local government business enterprise finance

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The Daily


Thursday, November 13, 2008

After provision for income tax, local government business enterprises had a net income of $1 billion in 2006, up 17% from 2005.

The combined total income of all local government business enterprises increased 3.7% in 2006. Investment income and government subsidies accounted for most of the increase. Investment income rose 29% and subsidies by 5.6%. Sales of goods and services and other income increased 3.3%

The income of urban transit companies grew 6.9% and telephone companies' income increased 6.5%. Income of electricity distributors increased 2.7%, whereas the income of gas distributors declined 1.5%.

In 2006, total expenses of local government business enterprises increased 3.5%. Amortization expenses increased 18%, and materials and other purchases increased 3.1%. Debt charges declined 6.3% from 2005.

There was significant growth in amortization expenses of urban transit local government business enterprises (+65%). The increase in amortization expenses was mainly due to an accounting change in which amortization expensed to equity is now reported in the income statement.

Note: Local government business enterprises are government-controlled, public corporations engaged in commercial operations involving the sale of goods and services to the public in the marketplace. Local government business enterprises comprise municipally-owned electricity distributors, urban transit companies, gas distributors and telephone companies. Data refer to the fiscal year ending December 31, 2006.

Available on CANSIM: table 385-0015.

Data tables are also available under the National Economic Accounts module of our website.

Data are also available through custom and special tabulation. For more information on the products or services of the Public Institutions Division, contact Jo-Anne Thibault (613-951-0767; pid-info-dip@statcan.gc.ca), Public Institutions Division.

For more information, or to enquire about the concepts, methods or data quality of this release, contact Aldo Diaz (613-951-8563; aldo.diaz@statcan.gc.ca) or Diana-Lynn Walters (613-951-1833; diana-lynn.walters@statcan.gc.ca), Public Institutions Division.

Tables. Table(s).