Local governments, book value

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	Fourth quarter 2002	First quarter 2003	Second quarter 2003	Third quarter 2003	Fourth quarter 2003	First quarter 2004	2002	2003
Millions of dollars, at quarter end
Total assets	266,920	269,953	271,752	276,240	279,258	281,703	266,920	279,258
Non-financial assets	213,234	215,080	217,438	220,696	223,799	226,002	213,234	223,799
Non-residential structures	163,805	165,048	166,685	169,101	171,398	172,925	163,805	171,398
Machinery and equipment	6,676	6,873	7,083	7,207	7,323	7,426	6,676	7,323
Land	42,753	43,159	43,670	44,388	45,078	45,651	42,753	45,078
Net financial assets	-9,983	-8,936	-8,344	-8,728	-9,370	-9,449	-9,983	-9,370
Financial assets	53,686	54,873	54,314	55,544	55,459	55,701	53,686	55,459
Currency and bank deposits	11,129	10,549	11,547	11,858	11,903	11,571	11,129	11,903
Other deposits	270	295	385	354	268	288	270	268
Foreign currency deposits	10	0	0	0	10	1	10	10
Trade receivables	2,525	2,525	2,555	2,525	2,525	2,575	2,525	2,525
Other loans	54	52	49	52	52	45	54	52
Canada short-term paper	493	766	744	844	466	577	493	466
Other short-term paper	3,746	4,051	5,080	6,515	5,296	3,846	3,746	5,296
Canada bonds	3,490	3,414	3,243	3,328	2,932	3,061	3,490	2,932
Provincial bonds	2,887	3,020	2,771	3,711	2,921	3,241	2,887	2,921
Municipal bonds	1,789	1,697	1,549	1,852	1,660	1,687	1,789	1,660
Other bonds	4,295	4,179	4,071	4,308	4,188	4,218	4,295	4,188
Government claims	2,347	2,299	2,269	2,496	2,437	2,440	2,347	2,437
Other financial assets	20,651	22,026	20,051	17,701	20,801	22,151	20,651	20,801
Liabilities and net worth	266,920	269,953	271,752	276,240	279,258	281,703	266,920	279,258
Liabilities	63,669	63,809	62,658	64,272	64,829	65,150	63,669	64,829
Trade payables	5,824	5,904	5,964	6,044	6,104	6,184	5,824	6,104
Bank loans	2,551	2,567	2,548	2,784	2,770	2,337	2,551	2,770
Other loans	3,469	3,420	3,422	3,436	3,418	3,424	3,469	3,418
Other short-term paper	60	47	193	99	110	163	60	110
Municipal bonds	36,353	35,631	34,972	35,350	35,018	35,104	36,353	35,018
Government claims	66	66	66	66	66	66	66	66
Other liabilities	15,346	16,174	15,493	16,493	17,343	17,872	15,346	17,343
Net worth	203,251	206,144	209,094	211,968	214,429	216,553	203,251	214,429

Fourth quarter 2002

First quarter 2003

Second quarter 2003

Third quarter 2003

Fourth quarter 2003

First quarter 2004

2002

2003

Millions of dollars, at quarter end

Total assets

266,920

269,953

271,752

276,240

279,258

281,703

266,920

279,258

Non-financial assets

213,234

215,080

217,438

220,696

223,799

226,002

213,234

223,799

Non-residential structures

163,805

165,048

166,685

169,101

171,398

172,925

163,805

171,398

Machinery and equipment

6,676

6,873

7,083

7,207

7,323

7,426

6,676

7,323

Land

42,753

43,159

43,670

44,388

45,078

45,651

42,753

45,078

Net financial assets

-9,983

-8,936

-8,344

-8,728

-9,370

-9,449

-9,983

-9,370

Financial assets

53,686

54,873

54,314

55,544

55,459

55,701

53,686

55,459

Currency and bank deposits

11,129

10,549

11,547

11,858

11,903

11,571

11,129

11,903

Other deposits

270

295

385

354

268

288

270

268

Foreign currency deposits

Trade receivables

2,525

2,555

2,525

2,575

2,525

Other loans

Canada short-term paper

493

766

744

844

466

577

493

466

Other short-term paper

3,746

4,051

5,080

6,515

5,296

3,846

3,746

5,296

Canada bonds

3,490

3,414

3,243

3,328

2,932

3,061

3,490

2,932

Provincial bonds

2,887

3,020

2,771

3,711

2,921

3,241

2,887

2,921

Municipal bonds

1,789

1,697

1,549

1,852

1,660

1,687

1,789

1,660

Other bonds

4,295

4,179

4,071

4,308

4,188

4,218

4,295

4,188

Government claims

2,347

2,299

2,269

2,496

2,437

2,440

2,347

2,437

Other financial assets

20,651

22,026

20,051

17,701

20,801

22,151

20,651

20,801

Liabilities and net worth

266,920

269,953

271,752

276,240

279,258

281,703

266,920

279,258

Liabilities

63,669

63,809

62,658

64,272

64,829

65,150

63,669

64,829

Trade payables

5,824

5,904

5,964

6,044

6,104

6,184

5,824

6,104

Bank loans

2,551

2,567

2,548

2,784

2,770

2,337

2,551

2,770

Other loans

3,469

3,420

3,422

3,436

3,418

3,424

3,469

3,418

Other short-term paper

193

110

163

110

Municipal bonds

36,353

35,631

34,972

35,350

35,018

35,104

36,353

35,018

Government claims

Other liabilities

15,346

16,174

15,493

16,493

17,343

17,872

15,346

17,343

Net worth

203,251

206,144

209,094

211,968

214,429

216,553

203,251

214,429