ANNUAL REPORT FOR THE YEAR ENDED MARCH

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1 ANNUAL REPORT FOR THE YEAR ENDED MARCH 31, 1998

2 Additional copies of this annual report may be obtained from: Communications and Industry Relations Alberta Gaming and Liquor Commission 50 Corriveau Avenue St. Albert, Alberta T8N 3T5 Telephone (403) Fax (403) Y Printed in Alberta on Recycled Paper

3 October, 1998 Honourable Patricia L. Nelson Minister Responsible for the Alberta Gaming and Liquor Commission 425 Legislature Building Edmonton, Alberta T5K 2B6 Dear Minister: I have the honour to submit the Annual Report of the Alberta Gaming and Liquor Commission for the year ended March 31, 1998, pursuant to Section 30 of the Gaming and Liquor Act. Respectfully submitted, Bob King Chairman and Chief Executive Officer

4 CONTENTS Organizational Profile... 1 Year In Review... 2 Lotteries and Gaming Highlights... 5 Liquor Licensing Highlights... 6 Liquor Statement by Product Type... 7 Financial Statements Auditor s Report... 8 Balance Sheet... 9 Statement of Net Income Statement of Changes in Financial Position Notes to the Financial Statements Video Lottery and Casino Gaming Terminal Operations Schedule Ticket Lottery Operations Schedule Lotteries and Gaming Summit 98 A Look to the Future Alberta Lottery Fund Agricultural Initiatives Cultural Initiatives Recreation Initiatives Community Facility Enhancement Program III Health and Wellness Initiatives Science Initiatives Other Initiatives Alberta Lottery Fund Commitments 1998/

5 ORGANIZATIONAL PROFILE The Alberta Gaming and Liquor Commission is an agent of the Government of Alberta and consists of a Board and a Corporation. The Board is responsible for ensuring that the powers and duties of the Corporation are appropriately carried out; establishing the policies of the Corporation; and, conducting hearings and making decisions respecting licences and registration. The Corporation consists of administrative and operational divisions responsible for the day-to-day functioning of the Corporation. ensure business and program operations are run efficiently and effectively; disburse provincial lottery revenues; support industry and government initiatives to address problem gambling and responsible alcohol consumption; communicate to gaming and liquor stakeholders accurate and timely information. The Commission administers the Alberta Lottery Fund under the provisions of the Gaming and Liquor Act. The mission of the Alberta Gaming and Liquor Commission is to maintain the integrity of gaming and liquor activities in Alberta and collect revenues for the province. The Alberta Gaming and Liquor Commission s mandate, in accordance with the Gaming and Liquor Act, the Criminal Code (Canada) and within the policy framework established by government, includes the following: licence, regulate and monitor gaming and liquor activities in Alberta; define operating policies and procedures for gaming and liquor activities; ensure integrity and social responsibility in the operation of gaming and liquor activities; collect gaming and liquor revenue; 1

6 YEAR IN REVIEW ALBERTA LOTTERY FUND The Alberta Lottery Fund is used to support over 4,000 community initiatives each year. These initiatives include the purchase of advanced medical equipment, health and wellness programs, education, recreation, cultural initiatives, agricultural initiatives and many other types of initiatives. Funds also are used to supplement the province s General Revenue funds. RETURN TO CHARITIES FROM CHARITABLE GAMING Return to charities from charitable gaming (i.e. bingo, casinos, raffles and pull tickets) was $128.6 million compared to $106.2 million in 1996/97. This was due to increased revenues to charities from casino operations and bingo events. There was also additional revenues from electronic gaming (slot machine) activities. None of the net proceeds from charitable gaming accrue to Government. The AGLC collects only licence fees for charitable gaming activities. WAREHOUSING AND DISTRIBUTION AGLC had three primary warehousers and distributors: Connect Logistics Services Inc. for liquor and import beer, and Brewers Distributors Limited and Big Rock for domestic beer. Warehousing and distribution rates are set by warehousers. Effective April 29, 1998, the Stroh Brewery was appointed as a warehouser and distributor of Stroh Brewery products. VIDEO LOTTERY TERMINAL OPERATIONS The AGLC has maintained the maximum number of video lottery terminals (VLTs) in the Province at 6,000. The initiative to phase-out VLTs in multiple licenced facilities is targeted for completion by December As at March 31, 1998, there were 172 multiple licences in 76 locations, compared to 225 multiple licences in 101 locations as of October 8, CASINO GAMING TERMINAL OPERATIONS Casino Gaming Terminal activities, principally slot machines, were expanded during fiscal 1997/98, resulting in increased financial returns to charities and helping to facilitate the Alberta Racing Renewal Initiative. The increase in revenues to charities from slot machines and Electronic Race Games in charitable casinos amounted to $8.48 million, while $4.8 million of revenue was earned and distributed to the racing industry from Casino Gaming Terminal and Sega Race Game activities in the province s two racing entertainment centres. ABORIGINAL GAMING First Nations interested in developing and operating casinos have met with the Commission for input, planning, and clarification sessions. The Government of Alberta has confirmed that the development of any aboriginal gaming initiatives must be consistent with the province s charitable gaming model. 2

7 YEAR IN REVIEW (Continued) GAMING, LIQUOR AND TOBACCO COMPLIANCE ACTIVITIES The following compliance activities, undertaken by the AGLC, help ensure that the provisions of the Gaming and Liquor Act, Tobacco Tax Act, Criminal Code and Commission policies are effectively enforced. Gaming A total of 149 incident reports were filed on gaming related matters during the fiscal year. These incidents concerned violations of VLT retailer agreements, cheating at play in casinos, illegal gaming activities, activities of registered gaming workers as well as the contravention of Board policies respecting legal gaming activities for raffles, pull tickets, bingos and casinos. Of primary concern in the enforcement activities was maintaining the integrity of legal gaming in Alberta. increase in incidents can be attributed to after hours liquor service and prohibited relationships. Tobacco Under the Tobacco Tax Act, 54 new investigation files were opened during the fiscal year. This resulted in seven charges being laid under the Tobacco Tax Act. The Commission carried out 85 compliance checks with tobacco retailers to ensure that tobacco being sold has been legally purchased. The smuggling of illegal cigarettes into Alberta for sale both to tobacco retailers and the general public is a concern of the Commission. These enforcement activities are undertaken to reduce the province s lost tax revenue from cigarette sales. In addition to the incident reports filed, there were 154 new gaming investigation files opened by the Commission s Special Operations Division. This resulted in 40 charges being laid under the Gaming and Liquor Act. Many of the investigations have resulted in charges being laid under the Criminal Code. In many cases, Special Operations have been able to help charitable organizations recover gaming funds missing from their bank account through theft or fraud. Liquor A total of 647 incident reports were filed on liquor-related matters (433 in 1996/97). These incident reports focus on five key areas of enforcement: illegal liquor, liquor service to minors, overservice, after hours liquor service and prohibited relationships between liquor suppliers and liquor licensees. The major 3

8 YEAR IN REVIEW (Continued) ADDRESSING SOCIAL ISSUES The AGLC is involved in programs or activities aimed at addressing problem gambling and encouraging the responsible use of alcohol products. Working with the gaming industry, the AGLC disseminates information about the Alberta Alcohol and Drug Abuse Commission s (AADAC) 24-hour problem gambling help-line. It will consult with industry members from time to time on adopting programs to reduce problem gambling. The AGLC will be involved in implementing various recommendations of the Lotteries and Gaming Summit 98, including working with AADAC to increase the visibility of problem gambling prevention and education programs. AGLC routinely provides information aimed at helping Albertans understand the gaming industry in the province, including the nature, extent and type of gaming activities. This information is often requested by groups looking into the social or economic impacts of gaming. The AGLC is represented on the Fetal Alcohol Syndrome Provincial Coordinating Committee, examining ways to reduce the incidence of fetal alcohol syndrome in children. It also routinely encourages liquor licensees and manufacturers to promote the responsible use of alcohol in their promotions or advertising. 4

9 LOTTERIES AND GAMING HIGHLIGHTS as at March 31, 1998 Number of Video Lottery Terminals Number of Video Lottery Terminal Locations Number of Casino Gaming Terminals Number of Charitable Casinos and Racing Entertainment Centres Number of Ticket Lottery Terminals Number of Ticket Lottery Locations Number of Bingo Associations Calgary 1, Edmonton 1, Other Cities 1, Towns 1, Other Communities ,852 1,225 1, ,914 1,

10 LIQUOR LICENSING HIGHLIGHTS (dollars in thousands) SALES 1998 SALES 1997 LICENCE CLASS CONSUMER LICENCES IN EFFECT MARCH 31, 1998 SPIRITS WINE COOLERS & CIDER BEER TOTAL LICENCES IN EFFECT MARCH 31, 1997 TOTAL A* B C D* E Minors Allowed Minors Prohibited (1) (2) (3) (4) (5) 3,230 1, , $ 4,006 80, , ,760-1,800 $ 3,605 19, , , $ 551 7, , $ 17, ,028 5,435 7, , $ 25, ,619 6,646 10, ,877-2,584 3,231 1, , $ 19, ,263 6,228 11, ,864-2,511 7,606 $ 376,697 $ 146,855 $ 32,507 $ 543,594 $1,099,653 7,543 $1,011,604 (1) Convention Centre, Public Conveyance, Racetrack, Recreational Facilities, Sports Stadium and Theatre. (2) Canteens, Club, Institution, Travelers Lounge. (3) Retail Liquor Stores, Retail Wine Stores, Off Sales, and Manufacturer s Off Sales. (4) Breweries, Brew-Pubs, Distilleries and Wine Manufacturers. (5) Includes duty free, diplomat/nato and sales to other Boards. * Class D Off Sales dollars are included with Class A licensee sales. 6

11 LIQUOR STATEMENT BY PRODUCT TYPE SALES VOLUMES GROSS PROFIT GROSS PROFIT DOMESTIC IMPORT DOMESTIC IMPORT DOMESTIC IMPORT TOTAL TOTAL $ (000) $ (000) HECTOLITRES $ (000) $ (000) $ (000) $ (000) SPIRITS Whisky 114,101 26,546 54,150 10,399 67,044 12,773 79,817 77,921 Gin 4,612 3,372 2,229 1,546 2,730 1,865 4,595 4,160 Liqueurs 7,922 43,510 3,686 18,073 4,522 20,866 25,388 24,918 Rum 61,663 7,975 29,184 3,530 36,244 4,386 40,630 38,970 Vodka 77,602 6,256 39,007 3,070 48,569 3,734 52,303 49,266 Others 8,321 14,817 4,045 6,239 4,657 6,339 10,996 9, , , ,301 42, ,766 49, , ,112 WINE 35, ,308 49, ,660 16,209 36,046 52,255 51,815 COOLERS/ CIDERS 29,039 3,468 71,983 7,866 10,063 1,109 11,172 9,203 BEER Packaged* 431,675 44,544 1,450, , ,581 16, , ,055 Draft 63,392 3, ,403 15,135 27,487 1,339 28,826 28, ,067 48,527 1,759, , ,068 17, , , , ,779 2,013, , , , , ,482 BEVERAGE CONTAINER AND RECYCLING COSTS 1,412 1, , ,685 * Includes deposit 7

12 FINANCIAL STATEMENTS The official version of this report of the Auditor General, and the information the report covers, is in printed form. AUDITOR S REPORT To the Members of the Alberta Gaming and Liquor Commission I have audited the balance sheet of the Alberta Gaming & Liquor Commission as at March 31, 1998 and the statements of net income and changes in financial position for the year then ended. These financial statements are the responsibility of the Commission s management. My responsibility is the express an opinion on these financial statements based on my audit. I conducted my audit in accordance with generally accepted auditing standards. Those standards require that I plan and perform an audit to obtain reasonable assurance whether the financial statements are free of material misstatement. An audit included examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. In my opinion, these financial statements present fairly, in all materials respects, the financial position of the Commission as at March 31, 1998 and the results of its operations and the chances in its financial position for the year then ended in accordance with generally accepted accounting principles. Original Signed by Peter Valentine FCA Auditor General Edmonton, Alberta May 22,

13 BALANCE SHEET (in thousands) As at March 31, 1998 March 31, 1998 March 31, 1997 ASSETS Current Assets Cash and term deposits Accounts receivable Prepaid expenses and inventories (Note 3) Mortgages receivable (Note 4) Due from the General Revenue Fund (Note 7) $ 127,334 6,925 4,864 7,771 - $ 67,252 19,629 5, , , ,319 Mortgages Receivable (Note 4) Capital Assets (Note 5) - 54,942 8,357 55,001 $ 201,836 $ 269,677 LIABILITIES AND APPROPRIATION Current Liabilities Accounts payable and accrued liabilities Due to the Lottery Fund (Note 6) Due to the General Revenue Fund (Note 7) $ 55,954 72,241 64,641 $ 53,244 68, , ,742 Provision for Loss on Leased Properties Pension Liability (Note 8) 8, ,740 1,195 9,000 9,935 Appropriation for Capital (Note 9) - 138,000 The accompanying notes and schedules are part of these financial statements. APPROVED BY MANAGEMENT: $ 201,836 $ 269,677 Bob King Chairman and Chief Executive Officer Norman C. Peterson, CA Chief Financial Officer 9

14 STATEMENT OF NET INCOME (in thousands) For the year ended March 31, 1998 Budget 1998 Actual 1998 Actual 1997 (Note 10) Liquor sales $1,099,653 $1,011,604 Cost of liquor sold 650, ,919 Gross profit on liquor sales $ 428, , ,685 Gross income from video lottery and casino gaming terminal operations (Schedule 1) 539, , ,785 Gross income from ticket lottery operations (Schedule 2) 153, , ,167 Other income (Note 11) 7,114 15,427 12,328 Grant from the General Revenue Fund (Note 7) 72,092 60,571 66,503 Operating expenses (Note 12) (72,092) (60,571) (66,503) NET INCOME, for the year $1,127,614 $1,169,796 $1,063,965 10

15 STATEMENT OF CHANGES IN FINANCIAL POSITION (in thousands) For the year ended March 31, 1998 CASH FROM OPERATIONS Net income for the year Increase (Decrease) in provision for loss on leased properties Amortization (Gain)/Loss on disposal of capital assets Increase in amount due to the General Revenue Fund Decrease in pension liability Net change in non-cash working capital balances Actual 1998 $1,169,796 (619) 18,746 (256) 2,391 (316) 15,632 1,205,374 Actual 1997 $1,063, , ,942 (339) 9,722 1,102,440 REMITTANCES TO THE LOTTERY FUND (702,447) (618,419) REMITTANCES TO THE GENERAL REVENUE FUND (425,000) (439,012) 77,927 45,009 CASH USED FOR INVESTMENT Purchase of capital assets Proceeds on disposal of capital assets Reduction of mortgages receivable (Net) (19,034) (17,121) (17,845) (16,212) INCREASE IN CASH AND TERM DEPOSITS 60,082 28,797 CASH AND TERM DEPOSITS, beginning of year 67,252 38,455 CASH AND TERM DEPOSITS, end of year $ 127,334 $ 67,252 11

16 NOTES TO THE FINANCIAL STATEMENTS (tabular amounts in thousands) March 31, 1998 NOTE 1 AUTHORITY AND PURPOSE The Alberta Gaming and Liquor Commission (the Commission) operates under the authority of the Gaming and Liquor Act, Chapter G-0.5, Statutes of Alberta The Commission conducts and manages provincial lotteries, carries out functions respecting gaming under the Criminal Code of Canada, and controls, in accordance with legislation, the manufacture, importation, sale and purchase of liquor for the Government of Alberta. The net proceeds arising from the conduct of authorized ticket lottery, video lottery and casino gaming terminal operations in Alberta are remittable to the Lottery Fund. The net proceeds of liquor operations and other income are remittable to the General Revenue Fund. The Commission is a Crown agent of the Government of Alberta and as such, has a tax-exempt status. NOTE 2 SIGNIFICANT ACCOUNTING POLICIES AND REPORTING PRACTICES Joint Venture Alberta s share of the operations of the Western Canada Lottery Corporation is accounted for as a joint venture. Inventories Supplies inventories are valued at weighted average cost which is not in excess of net replacement value. Inventory held on behalf of liquor suppliers or agents, and related duties and taxes, are not recorded in the financial statements. Capital Assets Capital assets are stated at cost less accumulated amortization. Amortization is calculated on the straight-line method at annual rates which will reduce the original cost to estimated residual value over the useful lives of the assets, as follows: Buildings and Leasehold Improvements Gaming Systems and Equipment Furniture and Equipment Retailer Fixtures and Signage Computer Software Vehicles 2.5% or 10% (or lease term) 20% or 33.3% 10% or 20% 20% 33.3% 20% or 33.3% 12

17 NOTES TO THE FINANCIAL STATEMENTS (tabular amounts in thousands) March 31, 1998 NOTE 2 (Con t) Capital assets held for sale are stated at estimated net realizable value. Write-downs of capital assets to estimated net recoverable amount or to net realizable value are included in accumulated amortization. Pension Costs Pension costs comprise: the cost of pension benefits earned by employees during the year; interest on the Commission s share of the unfunded pension liability; the amortization of deferred adjustments over the expected average remaining service life of employees which relate to the long term; realized gains and losses; and the effect of the change in the ratio used to allocate the plan s total unfunded liability to participating entities. The net expense or recovery is included as part of salaries and benefits in operating expenses. Actuarial valuations were determined using the projected benefit method prorated on service. Assumptions used in the valuations are based on each Pension Board s best estimate of future events. Each plan s future experience will inevitably vary, perhaps significantly, from the assumptions. Any differences between the actuarial assumptions and future experience will emerge as gains or losses in future valuations. Gains and losses which relate to the long-term are amortized over the expected average remaining service life of the employee group. Gains or losses for which there is a reasonable assurance regarding their measurement and realization are recognized as income immediately. Ticket Lottery Revenue Ticket lottery revenue is recorded as of the date of the draw with the exception of instant game revenue, which is recognized at the time of sale to the retailer. NOTE 3 PREPAID EXPENSES AND INVENTORIES March 31,1998 March 31,1997 VLT Parts Prepaid Expenses Supplies $ 2,387 2, $ 4,864 $ 1,240 3, $ 5,082 13

18 NOTES TO THE FINANCIAL STATEMENTS (tabular amounts in thousands) March 31, 1998 NOTE 4 MORTGAGES RECEIVABLE During fiscal 1993, the Alberta Liquor Control Board sold the Calgary warehouse for a total consideration of $9,000,000. The Board entered into a first mortgage agreement with the purchaser in the amount of $8,490,000 and a second mortgage agreement in the amount of $500,000. Both mortgages were secured by a first charge on the property and chattels. As at March 31, 1997, the mortgages in the amount of $8,357,000 were in default due to missed mortgage payments and non-payment of property taxes. As a consequence of the default, the mortgages were immediately repayable in full. Subsequent to March 31, 1998, the Commission recovered the full amount owing on the mortgages receivable. NOTE 5 CAPITAL ASSETS March 31, 1998 March 31, 1997 COST ACCUMULATED AMORTIZATION NET BOOK VALUE NET BOOK VALUE Land Buildings and Leasehold Improvements Gaming Systems and Equipment Furniture and Equipment Retailer Fixtures and Signage Computer Software Vehicles Other $ 4,113 49,935 97,178 26,823 8,548 7, ,941 $ 196,381 $ - 36,467 64,307 25,296 7,160 6, ,182 $141,439 $ 4,113 13,468 32,871 1,527 1, $54,942 $ 4,113 14,250 30,860 3,017 1, $ 55,001 14

19 NOTES TO THE FINANCIAL STATEMENTS (tabular amounts in thousands) March 31, 1998 NOTE 6 DUE TO THE LOTTERY FUND This amount represents the portion of the revenues from lottery operations which has not been remitted to the Lottery Fund. Actual 1998 Actual 1997 DUE TO THE LOTTERY FUND, beginning of year REMITTABLE TO THE LOTTERY FUND REMITTANCES TO THE LOTTERY FUND DUE TO THE LOTTERY FUND, end of year $ 68, ,190 (702,447) $ 72,241 $ 62, ,952 (618,419) $ 68,498 NOTE 7 DUE TO THE GENERAL REVENUE FUND Due to the General Revenue Fund reflects the expiration of the appropriation for capital. It includes the net change in appropriation for capital, current year under remitted income and the operating grant due as follows: Due from the General Revenue Fund, beginning of year Operating Grant returned to the General Revenue Fund Net Income for the year Remittable to the Lottery Fund Remittances to the General Revenue Fund Transfer from Appropriation for Capital Due to the General Revenue Fund from operating grant funds, end of year Due to (due from) the General Revenue Fund, end of year $ (114,356) (9,130) (123,486) 1,169,796 (706,190) (425,000) 38, ,000 11,521 $ 64,641 $ (123,299) (1,188) (124,487) 1,063,965 (623,952) (439,012) 1,001-9,130 $ (114,356) 15

20 NOTES TO THE FINANCIAL STATEMENTS (tabular amounts in thousands) March 31, 1998 NOTE 8 PENSION LIABILITY The Commission participates with other employers in the Public Service Pension Plan and the Management Employees Pension Plan. These plans provide pensions for the Commission s employees based on years of service and earnings. The Commission had an unfunded pension liability for each plan as at March 31, which was as follows: Public Service Pension Plan Management Employees Pension Plan $ $ $ 879 $ 1,195 The total unfunded pension liability for each plan as at March 31, 1998 was determined by actuarial valuations as at December 31, 1995 for the Public Service Pension Plan and as at December 31, 1996 for the Management Employees Pension Plan, both extrapolated to March 31, The 1997 comparatives were determined as above for the Public Service Pension Plan extrapolated to March 31, 1997 and the Management Employees Pension Plan was determined using an actuarial valuation as at December 31, 1994 extrapolated to March 31, The Public Sector Pension Plans Act specifies the basis to determine the amount of the total unfunded liability for each plan which will be funded by employers. The Commission s portion of those employers liabilities was based on the Commission s percentage of the total pensionable payroll of all employers in each Plan. NOTE 9 APPROPRIATION FOR CAPITAL Under the Gaming and Liquor Act, Transitional Regulation, the Commission was allowed to maintain a capital account, until March 31, 1998, to provide funds for acquiring land and buildings and maintaining other assets necessary to the liquor operations of the Commission. On March 31, 1998, this amount became payable to the General Revenue Fund. NOTE 10 BUDGET The Commission, in its annual business plan, includes its annual budget on a summarized basis. The summarized budget receives approval by the Minister responsible for the Alberta Gaming and Liquor Commission and becomes part of the estimates of the Government. The Government Estimates are approved by the Legislature. 16

21 NOTES TO THE FINANCIAL STATEMENTS (tabular amounts in thousands) March 31, 1998 NOTE 11 OTHER INCOME Licences and permits Interest revenue Liquor levies Miscellaneous Premises rental revenue Retailer service fees Fines and violations Gain (loss) on disposals of capital assets Actual 1998 $ 7,000 4,067 1,297 1, Actual 1997 $ 6,911 1,604 1,199 1, (127) $ 15,427 $ 12,328 NOTE 12 OPERATING EXPENSES Amortization Salaries and benefits Communications Ticket printing Equipment and vehicles Media and media production Property (a) Stationery and supplies Travel and training Fees and services Insurance and bank charges Miscellaneous Data processing Freight and product delivery Presentations and publications Retailer relations Product expense Pari mutuel tax rebates Promotions Overhead and other Actual 1998 $ 18,746 16,554 5,460 4,543 3,766 3,171 2,313 1,041 1, (36) Actual 1997 $ 20,096 17,020 5,338 4,631 3,409 2,937 3,944 1, ,388 1, , (729) $ 60,571 $ 66,503 (a) Property expense includes a provision for loss of approximately $0.2 million (1997 $1.7 million) for estimated costs of lease obligations in excess of estimated sublease revenues. 17

22 NOTES TO THE FINANCIAL STATEMENTS (tabular amounts in thousands) March 31, 1998 NOTE 13 CONTINGENT LIABILITY - LEASE COMMITMENTS The Commission has a number of properties, primarily former retail liquor stores, that operate under lease arrangements with terms ranging from one to thirty-four years. Most of these properties have been subleased to third parties. The Commission remains liable for the leases should the sub-lessor default on their obligations to the Commission. The approximate rental under these lease arrangements is summarized as follows: Fiscal $ 2,596 2,401 2,191 1,623 1,230 Balance to expiry 12,653 $ 22,694 Estimated future revenues to be derived from subleases amount to $14,573,000 at March 31, Provision for loss has been made (see Note 12) where the payments to be received on the sub-leases are less than the lease payments to be made. 18

23 NOTES TO THE FINANCIAL STATEMENTS (tabular amounts in thousands) March 31, 1998 NOTE 14 SALARIES AND BENEFITS Average Number of Employees Average Salary Benefits Number (a) Total of Total Employees Senior Officers Chairman and CEO (b) 1 $ 12 $ 2 $ 14 1 $ 127 Board Members (c) Executive Directors Corporate Services (b) Licensing (b) Lottery Services Other Management Staff (Average 1998-$61,041) (Average 1997-$62,510) 49 2, , ,063 Other Full-Time Staff (Union and Excluded) (Average 1998-$42,033) (Average 1997-$39,618) 269 9,767 1,540 11, ,578 Part-Time and Casual Staff Liquor Licensing Appeal Council (c) $ 13,276 $ 2,076 15,352 14,695 Alberta's portion of salaries and benefits paid by the Western Canada Lottery Corporation 992 2,253 Bonus Achievement Awards 384 Benefits paid for long term disability employees Accrued vacation pay adjustment Unfunded pension liability adjustment (316) (339) Part-time Board member costs, included in miscellaneous expense (27) (20) Relocation expenses and other employment related benefits Salaries and Benefits (Note 12) $ 16,554 $ 17,020 (a) Benefits include the Commission's share of all employee benefits and contributions or payments made on behalf of employees pension, health care, dental coverage, group life insurance, short and long term disability, professional memberships, tuition and automobile benefits. (b) Effective April 22, 1997, the Chairman and Chief Executive Officer was appointed Deputy Minister of Energy. For the balance of the fiscal year, the Executive Director of Corporate Services and Chief Financial Officer served as the Commission's Acting Chairman. Similarly, the Executive Director of Licensing served as Acting Chief Executive Officer (c) Part-time. 19

24 NOTES TO THE FINANCIAL STATEMENTS (tabular amounts in thousands) March 31, 1998 NOTE 15 JOINT VENTURE - TICKET LOTTERY OPERATIONS The joint venture conducted by Western Canada Lottery Corporation was accounted for using the proportionate consolidation method. The Commission has included in its accounts the following aggregate amounts: As at March 31, Balance Sheet Current assets Capital assets $26,300 2,962 $28,022 6,940 $29,262 $34,962 Current liabilities Investment in joint venture $11,463 17,799 $14,685 20,277 $29,262 $34,962 Year ended March 31, Statement of Net Income Gross income Interest Expenses $140, (18,498) $147, (21,685) Net income $122,552 $126,175 Statement of Changes in Financial Position Cash generated from operating activities $128,428 $132,083 Cash used by investing activities $ - $

25 NOTES TO THE FINANCIAL STATEMENTS (tabular amounts in thousands) March 31, 1998 NOTE 16 YEAR 2000 The year 2000 issue is the result of some computer programs being written using two digits rather than four to define the applicable year. Computer programs that have datesensitive software may recognize a date using 00" as the year 1900 rather than the year 2000, which could result in miscalculations or systems failures. In addition, similar problems may arise in some systems if certain dates in 1999 are not recognized as a valid date or are recognized to represent something other than a date. The effects of the year 2000 issue may be experienced before, on, or after January 1, If not addressed, the effect on operations and financial reporting may range from minor errors to significant systems failures that could affect the ability to conduct some operations. The Commission is currently working to resolve the potential effect of the year 2000 on the processing of date-sensitive information in a timely manner. The costs of addressing potential problems by modifying, replacing or retiring significant portions of computerized information systems are not expected to have a material adverse effect on the Commission s financial condition. Despite the Commission s efforts to address this issue, it is not possible to be certain that all aspects of the year 2000 issue affecting the Commission, including those related to the efforts of customers, suppliers and other third parties, will be fully resolved. 21

26 VIDEO LOTTERY AND CASINO GAMING TERMINAL OPERATIONS SCHEDULE 1 (in thousands) For the year ended March 31, 1998 REVENUE Video lottery terminals Casino gaming and Electronic Racing terminals Actual 1998 $2,014, ,311 Actual 1997 $1,816, ,092 2,860,822 1,937,142 PRIZES Video lottery terminals Casino gaming and Electronic Racing terminals 1,395, ,404 1,267,256 98,723 2,164,231 1,365,979 GROSS INCOME FROM VIDEO LOTTERY AND CASINO GAMING TERMINAL OPERATIONS, before the following 696, ,163 RETAILER COMMISSIONS (122,532) (87,305) FEDERAL TAX EXPENSE (a) (8,919) (7,073) GROSS INCOME FROM VIDEO LOTTERY AND CASINO GAMING TERMINAL OPERATIONS $ 565,140 $ 476,785 (a) Taxes are paid to the Government of Canada in lieu of the Goods and Services Tax (GST) on ticket lottery, video lottery and casino gaming terminal sales based on a prescribed formula. This tax is in addition to the GST paid on the purchase of goods and services for which credit is denied under the formula. 22

27 TICKET LOTTERY OPERATIONS SCHEDULE 2 (in thousands) For the year ended March 31, 1998 REVENUE Lotto 6/49 Instant The Plus Sport Select Super 7 Extra Pick 3 Pogo Special Event Actual 1998 $ 136,280 80,915 34,769 32,810 27,058 6,454 6,116 4,987 1,865 Actual 1997 $ 159,451 73,490 37,706 35,112 16,952 4,329 5,294 5,047 1, , ,889 PRIZES 161, ,728 GROSS INCOME FROM TICKET LOTTERY OPERATIONS, before the following 169, ,161 RETAILER COMMISSIONS (22,359) (19,522) PAYMENTS TO GOVERNMENT OF CANADA (a) (5,022) (4,956) FEDERAL TAX EXPENSE (b) (2,450) (2,516) GROSS INCOME FROM TICKET LOTTERY OPERATIONS $ 140,075 $ 147,167 (a) This payment represents the Province of Alberta s share of payments to the Government of Canada as a result of an agreement between the provincial governments and the federal government on the withdrawal of the federal government from the lottery field. The payment is made by the Western Canada Lottery Corporation on behalf of Alberta, and is based on current population statistics and its share of ticket lottery sales. (b) Taxes are paid to the Government of Canada in lieu of the Goods and Services Tax (GST) on ticket lottery, video lottery and casino gaming terminal sales based on a prescribed formula. This tax is in addition to the GST paid on the purchase of goods and services for which credit is denied under the formula. 23

28 LOTTERIES AND GAMING SUMMIT 98 A Look to the Future In March 1998 the provincial government announced it would be holding a Lotteries and Gaming Summit in Medicine Hat from April 23 to 25. The Summit was in response to the Lotteries Review Committee recommendation of 1995 that lotteries and gaming activity, including allocations from the Alberta Lottery Fund, be reviewed in three years to determine whether further changes are needed to gaming in the province. Albertans from across the province participated in this summit, including adult citizens chosen at random, as well as those with an expressed interest in gaming and lotteries. The Government of Alberta has accepted, or accepted in principle, all eight of the recommendations from this Summit. A summary of the Summit recommendations and the Government response is set out below: Summit Recommendations 1. That the provincial government dedicate more resources to gaming research in areas like the prevention and treatment of problem gambling, the social impacts of lotteries and gaming, native gaming issues, and emergent gaming activities. Government Response: Accepted. A Request for Proposals will be developed for an independent gambling research institute. This project will be undertaken jointly by the Alberta Alcohol and Drug Abuse Commission (AADAC), the Alberta Gaming and Liquor Commission (AGLC), and Alberta Community Development (ACD). The independent gambling research institute is to be funded by the Alberta Lottery Fund. 2. That gambling in all forms be restricted to people 18 years of age and older. Government Response: Accepted. This recommendation primarily affects bingo and horse racing as all other gaming activities are currently age restricted. 3. That the charitable gaming model for operating casinos and bingos be maintained. Government Response: Accepted. 24

29 LOTTERIES AND GAMING SUMMIT 98 - Continued 4. That gaming and lottery profits not be directed to the province s General Revenue Fund. Government Response: Accepted in principle. This will be part of the government s business planning process. 5. That all gaming and lottery profits collected by the province be directed to supporting charitable or non-profit initiatives. Government Response: Accepted in principle. This will be part of the government s business planning process. 6. That the amount and public visibility of gambling addiction, prevention and treatment programs be increased. Government Response: Accepted. This project will be undertaken by AADAC in cooperation with the AGLC and the Alberta Racing Corporation. 7. That lottery and gaming regulators and the provincial government improve accountability and disclosure of gaming activity in the province. This would include keeping citizens in Alberta better informed of the amount, type, costs (social and financial) and benefits of gaming in the province. Government Response: Accepted. The AGLC, together with ACD, will develop a draft communications strategy for government review. 8. That the guiding principles for lotteries and gaming in Alberta adopted by the provincial government be updated, upgraded, accepted and adhered to. Government Response: Accepted in principle. A proposal is to be developed by the AGLC for government review. 25

30 ALBERTA LOTTERY FUND 26 The Alberta Lottery Fund is the provincial fund of lottery revenues. This fund consists of revenue generated from electronic gaming (video lottery terminals and slot machines) and ticket lotteries and is managed by the Alberta Gaming and Liquor Commission (AGLC). The AGLC operates all aspects of video lottery and casino gaming terminal operations in the Province of Alberta. Through the Western Canada Lottery Corporation, the AGLC is also responsible for all ticket lottery operations in the province. Alberta s lottery profits are collected by the AGLC and deposited into the Alberta Lottery Fund. Alberta Lottery Fund expenditures are approved by the Provincial Legislature and subsequently disbursed through the AGLC. In 1997/98, revenues of $711.1 Million were earned by the Alberta Lottery Fund. Of this amount, $123 Million was issued in grant disbursements and an additional $130 Million was issued to Health Authorities to assist in meeting their Year 2000 compliance requirements. The balance of the revenues were remitted to the General Revenue Fund and used to fund programs in health, education, infrastructure and other priorities as set by the Legislature through the budgeting process. The Alberta Lottery Fund is used to support over 4,000 worthwhile community initiatives each year such as advanced medical equipment purchases, health and wellness programs, education, recreation, cultural initiatives and funds also supplement the provincial budget. The following is the list of Alberta Lottery Fund expenditures for the fiscal year 1997/98. Community Facility Enhancement Program III $ 26,107,213 Advanced Medical Equipment Purchases 16,346,176 Alberta Foundation for the Arts 16,104,000 Alberta Sport, Recreation, Parks and Wildlife Foundation 14,885,000 Agricultural Societies and Exhibitions 9,342,499 New Initiatives 9,149,189 Wild Rose Foundation 6,600,000 Alberta Historical Resources Foundation 5,913,000 Calgary Exhibition and Stampede 5,100,000 Edmonton Northlands 5,100,000 Agricultural Initiatives Program 2,895,519 Services for Problem Gamblers 2,294,000 Special Events/Projects - Recreation 1,175,000 Alberta Human Rights, Citizenship and Multiculturalism Education Fund 1,062,000 Science Alberta Foundation 750,000 Special Projects - Health 200,000 Health Authorities - Year 2000 Compliance 130,000,000 $253,023,596 General Revenue Fund $596,200,000

31 ALBERTA LOTTERY FUND (Continued) More than 4,000 initiatives were funded through the Alberta Lottery Fund in 1997/98. Following are lists of the various charitable and non profit groups across Alberta which received lottery funding under each of the respective categories. AGRICULTURAL INITIATIVES Objective To further develop the provision of services by Alberta s exhibitions and agricultural societies directed towards improved agricultural awareness, agricultural lifestyle, and enhancement of Alberta s agriculture activities and related leisure initiatives. Funding The following organizations, societies, associations and institutions received $22.4 Million in 1997/98 under Agricultural Initiatives. Acme and District Agricultural Society, Airdrie and District Agricultural Society, Alberta Agricultural Economics Association, Alberta Association of Agricultural Societies, Alberta Ayrshire Breeders Cup, Alberta Barrel Racing Association, Alberta Beach and District Agricultural Society, Alberta Belgian Breeders Association, Alberta Bison Association, Alberta Blonde d Aquitaine Association, Alberta Central East Regional Science Fair Society, Alberta Food Processors Association, Alberta Foundation for Animal Care, Alberta Goat Breeders Association, Alberta High School Rodeo Association, Alberta Home Economics Association, Alberta Horticultural Association, Alberta Institute of Agrologists, Edmonton Branch, Alberta Mohair Producers Association, Alberta Native Plant Council Society, Alberta Packaged Water and Ice Association, Alberta Society for the Prevention of Cruelty to Animals, Alberta Women s Institutes, Alberta Young Canadian Simmental Association, Alder Flats Community Agricultural Society, Alix Agricultural Society, Alliance and District Agricultural Society, Amisk Agricultural Society, Andrew Agricultural Society, Anselmo Recreation and Agricultural Society, Appaloosa Horse Association of Alberta, Ardrossan Recreation and Agricultural Society, Ashmont and District Agricultural Society, Association of Alberta Agricultural Fieldmen (AAAF), Athabasca District Agricultural Society, Barons and District Agricultural Society, Barrhead Exhibition Association and Agricultural Society, Bashaw and District Agricultural Society, Bassano Agricultural Society, Battle River Agricultural Society, Battle River Home Based Business Association, Beaumont and District Agricultural Society, Beaver Heritage and Agricultural Society, Beaver Meadow and District Agricultural Society, Beaverlodge and District Agricultural Society, Beiseker and District Agricultural Society, Benalto Agricultural Society, Bentley and District Agricultural Society, Berwyn Agricultural Society, Bezanson Agricultural Society, Big Country Agricultural Society, Big Valley Agricultural Society, Big Valley Rodeo Association, Blackfalds and District Agricultural Society, Blackfoot Agricultural Society, Blackie and District Agricultural Society, Bon Accord Agricultural Society, Bonanza and District Agricultural Society, Bonnyville Agricultural Society, Bow Island and District Agricultural Society, Bow Valley Agricultural Society, Bowden and District Agricultural Society, Boyle and District Agricultural Society, Breton Agricultural Society, Bruce Agricultural Society, Bruderheim Agricultural Society, Buck Lake Agricultural Society, Buffalo and District Agricultural Society, Burdett Agricultural Society, C.O.C.O. Plowing Match and Agricultural Society, Cadogan Agricultural Society, Calgary Exhibition and Stampede, Calgary Regional Appaloosa Club, Calmar and District Agricultural Society, Camrose Regional Exhibition and Agricultural Society, Canada World Youth, Canadian Hard of Hearing Association, Carbon and District Agricultural Society and Curling Club, Cardston Agricultural Society, Carmangay Agricultural Society, Caroline and District Athletic and Agricultural Society, Carseland and District Community Association and Agricultural Society, Carstairs and District Agricultural Society, Castor and District Agricultural Society, 27

32 ALBERTA LOTTERY FUND Agricultural Initiatives (Continued) Central Alberta Agricultural Society, Central Slave Lake Agricultural Society, Central Sports Garden and Hughenden Agricultural Society, Chauvin Agricultural Society, Cherry Canyon Agricultural Society, Cherry Grove Recreation and Agricultural Society, Chestermere Agricultural Society, Chipman Agricultural Society, Clairmont and District Agricultural Society, Clandonald Agricultural Society, Cleardale Agricultural Society, Clive Athletic and Agricultural Society, Clyde and District Agricultural Society, Coaldale and District Agricultural Society, Cochrane and District Agricultural Society, Colchester and District Agricultural Society, Coronation Agricultural Society, Cottonwood-Gordon Agricultural Society, Coutts and District Agricultural Society, Craigend Recreation and Agricultural Society, Cremona and District Agricultural Society, Crossfield Agricultural Society, Crossroads Agricultural Society, Czar Agricultural Society, Darwell and District Agricultural Society, Daysland and District Agricultural Society, DeBolt and District Agricultural Society, Delacour Agricultural Society and Community Club, Delburne and District Agricultural Society, Delia and District Agricultural Society, Derwent and District Agricultural Society, Dewberry and District Agricultural Society, Didsbury Agricultural Society, Division Three Agricultural Society, Dixonville L.I.F.E. Agricultural Society, Donalda and District Agricultural Society, Drayton Valley and District Agricultural Society, Drumheller Stampede and Agricultural Society, Duchess Agricultural Society, Eaglesham and District Agricultural Society, Eckville Agricultural Society, Edberg and District Agricultural Society, Edgerton Agricultural Society, Edmonton Northlands, Elk Point and District Agricultural Society, Elnora and District Agricultural Society, Empress Bindloss Agricultural Society, Eureka River Agricultural Society, Fairview Agricultural Society, Five Mile Community Agricultural Society, Food Processors Federation of Northeast Alberta, Foremost and District Agricultural Society, Forestburg Agricultural Society, Fort Assiniboine Agricultural Society, Fort Macleod and District Agricultural Society, Fort Vermilion Agricultural Society, Friends of Sunnybrook Farm Society, Galahad and District Agricultural Society, Genesee Agricultural Society, Gilby Agricultural Society, Gleichen and District Agricultural Society, Glendon Agricultural Society, Goodridge Social and Agricultural Society, Grain Community Club and Agricultural Society, Grand Centre and District Agricultural Society, Grande Prairie Regional Agricultural and Exhibition Society, Grassland and Districts Agricultural Society, Great West Country Tourist Association, Grimshaw and District Agricultural Society, Grovedale Community Club and Agricultural Society, Hairy Hill Rodeo Association, Hanna Agricultural Society, Hardisty Agricultural Society, Harmon Valley Agricultural Society, Hawk Hills Agricultural Society, Hay Lakes and District Agricultural Society, Heisler Agricultural Society, Heritage Agricultural Society, High Level Agricultural Exhibition Association, High Prairie and District Agricultural Society, High River Agricultural Society, Highridge and District Agricultural Society, Hines Creek and District Agricultural Society, Holden Agricultural Society, Hussar and District Agricultural Society, Hylo Venice Recreation and Agricultural Society, Hythe and District Agricultural Society, Innisfail and District Agricultural Society, Innisfree and District Agricultural Society, Irma Agricultural Society, Irricana and District Agricultural Society, Irvine and District Agricultural Society, Josephburg Agricultural Society, KAC Agricultural Society, Killam and District Agricultural Society, Kinsella Recreation and Agricultural Society, Kitscoty and District Agricultural Society, L Association Canadienne Francaise de l Alberta, La Crete Agricultural Society, La Glace and District Agricultural Society, Lac Bellevue and District Recreation and Agricultural Society, Lac La Biche Agricultural Society, Lakedell Agricultural Society, Lakeland Agricultural Research Association, Lamont and District Agricultural Society, Lethbridge and District Exhibition, Linaria and District Agricultural Society, Linden and District Agricultural Society, Lloydminster Agricultural Exhibition Association Limited, Lomond Community Centre Agricultural Society, Lone Pine Agricultural Society, Lougheed Agricultural Society, M.T.M. Agricultural Society, Madden and District Agricultural Society, Magrath and District Agricultural Society, Mallaig and District Agricultural and Recreation Society, Mannville and District Agricultural Society, Marwayne Agricultural Society, Mayerthorpe and District Agricultural Society, Medicine Hat Exhibition and Stampede, Metiskow and District Agricultural Society, Mid-Rivers Agricultural Society, Milk River and District Agricultural Society, Millarville Racing and Agricultural Society, Millet and District Recreational and Agricultural Society, Milo and District Agricultural Society, Minburn and District Agricultural Society, Morinville Agricultural Society, Morrin and District Agricultural Society, Mundare and District Agricultural Society, Myrnam and District Agricultural Society, 28

33 ALBERTA LOTTERY FUND Agricultural Initiatives (Continued) Namao Community Agricultural Society, Nampa and District Agricultural Society, Nanton Agricultural Society, Neutral Hills Agricultural Society, New Sarepta and District Agricultural Society, Newbrook Agricultural and Recreational Society, Nobleford Agricultural Society, North Peace Forage Association, Okotoks Agricultural Society, Olds Agricultural Society, Onoway and District Agricultural Society, P.A.C.O. Agricultural Society, Paradise Valley and District Agricultural Society, Peace River Agricultural Society, Peers and District Cultural and Agricultural Society, Pembina Agricultural and Recreational Society, Peoples Museum Society, Pibroch and District Agricultural Society, Picture Butte and District Agricultural Society, Pincher Creek and District Agricultural Society, Pioneer Agricultural Society, Plamondon and District Agricultural Society, Ponoka County Fair and Agricultural Society, Provost and District Agricultural Society, Radway Agricultural Society, Ranfurly and District Agricultural Society, Raymond Agricultural Society, Raymond Futures Society, Red Willow Agricultural Society, Redwater and District Agricultural Society, Rich Lake Recreation and Agricultural Society, Rich Valley Agricultural Society, Rimbey Agricultural Society, Riviere Qui Barre Agricultural Society, Rochester and District Agricultural Society, Rocky Lane Agricultural Society, Rocky Mountain House Agricultural Society, Rockyford Agricultural Society, Rolling Hills Agricultural Society, Rosalind Agricultural Society, Rosemary Agricultural Society, Round Hill and District Agricultural Society, Rumsey and District Agricultural Society, Rural Education and Development Association, Rycroft Agricultural Society, Sandy Lake Cattlemen s Association, Sangudo and District Agricultural Society, Saskatoon Lake Agricultural Society, Savanna Agricultural Society, Sedgewick and District Agricultural Society, Sexsmith and District Agricultural Society, SHARA Agricultural Society, Silver Creek Agricultural Society, Silver Sage Agricultural Society, Smoky Lake Agricultural Society, Smoky River Agricultural Society, South East Alberta Agricultural Society, South Peace Horse Show Association, Spirit River and District Agricultural Society, Spondin and District Agricultural Society, Springbank Park For All Seasons Agricultural Society, Spruce Grove and District Agricultural Society, Spruce View and District Agricultural Society, St. Lina and District Community and Agricultural Society, St. Michael Community and District Agricultural Society, St. Paul and District Agricultural Society, Standard and District Agricultural Society, Stavely and District Agricultural Society, Stettler and District Agricultural Society, Stirling Historical Society, Stony Plain and District Crime Prevention Association, Strathmore and District Agricultural Society, Strome and District Agricultural Society, Sturgeon River Agricultural Society, Sullivan Lake West Agricultural Society, Sundre Agricultural Society, Taber Exhibition Association Agricultural Society, Tawatinaw Community Futures Development Corporation, Tees Agricultural Society, Thorhild and District Agricultural Society, Thorhild and District Community Association, Thorsby Agricultural Society, Three Hills and District Agricultural Society, Tilley and District Agricultural Society, Tofield Agricultural Society, Tomahawk and District Sports Agricultural Society, Torrington and District Agricultural Society, Trochu and District Agricultural Society, Tulliby Lake and District Agricultural Society, Two Hills and District Agricultural Society, University of Alberta Multi-Species Judging Club, Usona Agricultural Society, Valleyview and District Agricultural Society, Vauxhall Agricultural Society, Vegreville Agricultural Society, Verdant Valley Agricultural Society, Vermilion Agricultural Society, Victoria Trail Agricultural Society, Viking and District Agricultural Society, Vilna and District Agricultural Society, Vulcan and District Agricultural Society, Wainwright Frontier and Exhibition Agricultural Society, Wandering River Agricultural Society, Warner and District Agricultural Society, Wembley and District Agricultural Society, West Sturgeon Agricultural Society, Westerner Exposition Association, Westlock and District Agricultural Society, Westwoods Recreation and Agricultural Society, Wetaskiwin Agricultural Society, Whitelaw Agricultural Society, Wildwood and District Agricultural Society, Willingdon Agricultural Society, Willow Creek Agricultural Society, Willow Prairie Agricultural Society, Winfield and District Agricultural Society, World Citizens Centre, Worsley and District Agricultural Society, Yellowhead Agricultural Society, Yellowhead East Business Development. 29

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