2004 Crown Investments Corporation of Saskatchewan Annual Report

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2004 Financial HighlightsCrown Sector/Consolidated Results2004AssetsDebt at year endDebt ratio (ratio of consolidateddebt to debt plus equity)Capital spendingRevenueProfit/net earningsReturn on equity (ratio of earningsto the average amount ofshareholder’s equity)Dividend to GRF$8.1 billion$3.4 billion50.7%$1.0 billion$4.1 billion$312.1 million9.6%$268.0 millionHistoricalDebt reduction since 1995Dividends and equity repaymentssince 1995$1.2 billion$2.1 billionNotes:1. Crown Sector/Consolidated Results refers to the combined results for CIC as the holding company, and its subsidiary Crown corporations. For more details onthese highlights, see the Management’s Discussion & Analysis section, and the Consolidated Financial Statements.2. The fiscal year for CIC and its subsidiary Crown corporations is January 1 to December 31.3. For financial results for CIC as the holding company, see the Non-Consolidated Financial Statements.Honourable Pat Atkinson,Minister of Crown ManagementBoard, and CIC President and CEOTom Waller.
2004 Policy and Program HighlightsCrown Investments Corporation (CIC)Developed a methodology for calculating the annual costs of a Basic Utility Bundle for jurisdictions acrossCanada (see page 17).Administered the Utility Bundle Rebate Program, which provided a rebate of $137 to 380,000 Saskatchewanhouseholds in December (see page 17).Contributed a special dividend of $5 million on behalf of the Crown sector, to the province’s GeneralRevenue Fund (GRF) for the 2005 Centennial celebrations.Contributed a special dividend of $75 million on behalf of the Crown sector, to the GRF for the CanadianAgricultural Income Stabilization (CAIS) program.Introduced new accountability measures for the Crown sector, including: staggered tabling dates for annualreports; quarterly financial reporting; and the mailing of a summary annual report for the Crown sector to allhouseholds in the province.Introduced two initiatives under the five-year $20 million commitment to hire more youth and aboriginalpeople in Saskatchewan’s Crown corporations: a bursary program for aboriginal students at the Universityof Regina and First Nations University of Canada; and an internship program in the Crowns for recent postsecondarygraduates (see page 22).CIC’s Subsidiary CrownsSaskPower announced it will complete the Rushlake Creek wind power facility in 2005. This will add 150megawatts of zero emission energy, which is enough to provide green power to 64,000 homes.In 2004, SaskTel’s high speed internet service was available to more than 74 per cent of the population in 237Saskatchewan communities. Under Phase II of CommunityNet, SaskTel will be expanding high speed internetservice in Saskatchewan over the next three years to include virtually every community of 200 people ormore, and every community of 100 people or more with a school. As a result, high speed access will reachapproximately 86 per cent of the population.By the end of 2004, SaskEnergy’s ENERGY STAR Loan Event and past Prime Rate Loans Programs hadprovided $38.3 million in prime rate loans. These loans allowed more than 10,000 customers to upgrade theirnatural gas appliances, which will save them about $8.6 million annually in interest and energy costs.SGI’s Safe Driver Recognition discount increased from a maximum of eight, to a maximum of nine per cent in2004. To the end of 2004, the program had provided discounts of $57 million to safe-driving vehicle ownersin Saskatchewan.As of 2004, SaskWater was providing potable and non-potable water to 49 municipal customers, 37 industrialcustomers and 42 public water boards, user groups, cooperatives and pipeline associations.The Saskatchewan Transportation Company serves 275 Saskatchewan communities, and through interlinepartnerships with other carriers reaches almost 400 communities in the province. STC buses logged morethan 3.1 million passenger miles in 2004.
Page 4 and 5: Table Of Contents2004 HighlightsLet
Page 6 and 7: Chair’s MessageSaskatchewan’s C
Page 8 and 9: Corporate ProfileCIC is the financi
Page 10 and 11: Corporate ProfileCIC ManagementThe
Page 12 and 13: Corporate ProfileFinancial and Publ
Page 14 and 15: Corporate ProfileCIC’s Holdings20
Page 16 and 17: Corporate ProfileSASKATCHEWAN GOVER
Page 18 and 19: Corporate ProfileSaskatchewan Telec
Page 21: Policy and ProgramsUtility Bundle C
Page 24 and 25: Policy and ProgramsCommitment to Gr
Page 26: Policy and ProgramsCommitment to Yo
Page 30: GovernanceFor the purposes of this
Page 33 and 34: Strategic Direction and Performance
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MANAGEMENT’S DISCUSSION AND ANALY
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Consolidated Statement of Financial
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Consolidated Statement of Cash Flow
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Notes to Consolidated Financial Sta
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Non-Consolidated Statement of Finan
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Non-Consolidated Statement of Cash
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Notes to Non-Consolidated Financial
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Pat AtkinsonMinisterPrinted in Sask
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2004 Crown Investments Corporation of Saskatchewan Annual Report

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