Annual Reports and Public Accounts


The year-end financial results show a modestly balanced budget for 2019/20 and reiterates the forecasted deficit of $3-5 billion for 2020/21.

The modest surplus of $5 million in 2019/20 reflects an extraordinary amount of meticulous work, planning and focus since 2016.

  • Maintaining investments of $3.4 billion more into families, education and healthcare.
  • Nearly $700 million returned to the kitchen table and to business through lower taxes.
  • Restoring the depleted Rainy Day Fund to its previous levels approaching $1 billion.
  • Saving over $10 billion in incremental debt and associated debt-servicing costs has prepared Manitoba well to meet the public health and economic challenges caused by COVID-19.
  • Fostering a positive business environment in which Manitoba is leading the country in private sector investment.
  • Growing immigration to record levels, producing one of the lowest unemployment rates in the country, and adding nearly 19,000 private sector jobs between 2016 and 2019.
  • Reducing 90,824 regulatory requirements, which is a total 9.4% reduction.

COVID-19 has significantly impacted our fiscal outlook and the government will focus on returning to balance over time while budgeting prudently, improving front-line services and implementing ongoing tax savings for all Manitobans. We will continue to meet the challenges of COVID-19, on a bedrock of fiscal discipline and resilience, and are poised for a strong recovery in 2021.

Annual Report and Public Accounts (pdf)

Where Does Your Money Go?

It’s important to understand how you fit into the government’s accounts and budget. The following infographic will help tell our financial story at a more individual level. We have summarized the taxes and fees paid by the average Manitoba family in 2019/20, how that money was spent and how much was borrowed to cover the deficit and capital projects.

(NOTE: The numbers include capital projects of more than 150 Other Reporting Entities like regional health authorities, schools, universities, Crown corporations like Manitoba Hydro, agencies, boards and commissions which are captured in our budget).

The above infographic is based on specific assumptions for a typical Manitoba household, such as income earned, number of vehicles registered, fuel consumption and utilities, among others.
The expenditures are based on 2019/20 public accounts data shared equally per family, based on 500,000 households in Manitoba and excluding funding sources that aren't taxes or fees (like federal government transfers).

  • More than 75 percent of provincial taxes and fees cover our largest social envelopes - health care, public and post-secondary education and social services to help vulnerable Manitobans.
  • Debt servicing costs represent the fourth largest expenditure.
  • All other spending accounts for 20 percent of a family's taxes and fees for parks, sports, culture and heritage, road infrastructure and flood protection, agriculture, emergencies and running government.
  • The amount borrowed to pay for capital projects, which are important for growing our economy, protecting property and expanding utilities are more than the amount spent per family on any of the other goods and services provided by the province.

Additional technical notes:

Income: Statistics Canada median total income of Manitoba households in 2015 ($) indexed by 2 per cent each year to current year.

Individual Income Tax: Calculated for a household with two taxpayers earning an income of $35,000 each, and includes no other tax deductions except the basic personal amount.

Automobile and Motor Carrier licences and fees: Vehicle insurance and registration fees based on 2018 Manitoba Public Insurance Corporation Annual Report example of two drivers/vehicles, 35 year old couple with no claims or convictions.

Retail Sales Tax:   The representative household paid approximately $1,140 in retail sale tax in 2019/20. Using Statistics Canada’s household consumer expenditure and retail sales information the estimate attributes a portion of retail sales tax to households and reflects the saving from the retail sales tax cut that went into effect July 1, 2019.

Fuel Tax: Gasoline for two vehicles, and both vehicles are used a combined 40,000 km per year. Using the fuel consumption for a vehicle like a Honda Civic, the average driver would pay approximately $1,400 in fuel for 20,000 km.

Parks: One provincial park annual pass and two weekends camping.

Environmental Protection Taxes: Assumed 8x12 packs of cans, 40 bottles, one midsize TV, small electronics/accessories, two cell phones, batteries.

Education Property Tax: Assumes a house assessed at $296,500, the average in Winnipeg.

Education Property Tax Credit: The basic $700 credit which reduces school tax payable on a house.

Services fees and other misc. charges: Includes Hydro fees assuming average consumption of 1,000kWh/month.

"Where do my taxes go?": Represents total household tax dollars in proportion to the total amount of government expenditures by ministry.

The costs of running government: Includes expenditures for the Legislative Assembly, Executive Council, Civil Service Commission, Crown Services, Manitoba Finance, Indigenous and Northern Relations, enabling appropriations and employee pensions and other costs.

Finance Annual Reports Archive

Finance Annual Reports Archive