Manitoba Public Insurance 2003 Annual Report > Statement of Basic Insurance Rate Stabilization Reserve & Retained Earnings

	Statement of Basic Insurance Rate Stabilization Reserve
	YEARS ENDED FEBRUARY 2 9 / 2 8

(IN THOUSANDS OF DOLLARS)	2004	2003

Balance beginning of year	$ 35,366	$ 50,461
Net income (loss) (Note 13)	3,358	(30,135)
Surplus distribution (Note 12)	-	525
Transfer from Special Risk Extension (Note 14)	4,049	14,515

Basic insurance rate stabilization reserve balance end of year	$ 42,773	$ 35,366

	Statement of Retained Earnings
	YEARS ENDED FEBRUARY 2 9 / 2 8

(IN THOUSANDS OF DOLLARS)	2004	2003

Balance beginning of year	$ 76,050	$ 83,035
Net income (Note 13)	33,905	7,530
Transfer to basic insurance rate stabilization reserve from Special Risk Extension (Note 14)	(4,049)	(14,515)

Retained earnings balance end of year	$ 105,906	$ 76,050

The accompanying notes are an integral part of these financial statements.