The Alberta government ended its fiscal year on March 31 with a $4.3 billion surplus despite having to pay $3 billion in contingency costs due to the province’s worst fire season on record.The Alberta government ended its fiscal year on March 31 with a $4.3 billion surplus despite having to pay $3 billion in contingency costs due to the province's worst fire season on record.Results in the report are compared to the projections listed in the budget that was released last February.
On the revenue side, the treasury brought in $15.2 billion in personal income taxes, $7 billion in corporate tax and $19.3 billion in revenue from oil and gas royalties. Taxpayer-supported debt was $81.8 billion, an increase of $2.5 billion over what was forecast in the budget. Higher interest rates raised the cost of financing debt by $301 million more than estimated in the budget.Surplus cash is to be allocated equally to paying maturing debt and allocated to the Alberta Fund.
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