SYSCO Business Plan 2004

SYSCO
Sydney Steel Corporation
Business Plan
2003-2004

Sydney Steel Corporation Business Plan 2004-05 (continued)

Budget Context

The Province of Nova Scotia has accounted for the anticipated costs of decommissioning the site and addressing the environmental remediation issues. Beginning in 2004-2005, Sysco and SERL will be combined and reported as one operating entity. The data below includes a forecast of the separate operating results of SERL and Sysco for the current fiscal year and the combined budget for 2004-2005.

	Forecast 2003 - 2004 ($)	Forecast 2003 - 2004 ($)	Forecast 2003 - 2004 ($)	Budget 2004 - 2005 ($)
	Sysco	Serl	Total
Revenue:
Contribution from Province	11,620,000	1,609,000	13,229,000	22,280,000
Other	7,850,000	17,000	7,867,000	850,000
Total Revenue	19,470,000	1,626,000	21,096,000	23,130,000
Expenses:
Payroll	1,060,000	407,000	1,467,000	1,490,000
Consulting	1,350,000	27,000	1,377,000	1,340,000
Scrap Processing	1,670,000		1,670,000
General and Administration	3,150,000	321,000	3,471,000	2,520,000
Security	730,000		730,000	710,000
Demolition and Environmental Remediation	6,930,000		6,930,000	16,290,000
Coke Ovens		283,000	283,000	300,000
TPW (Dept. of Transportation and Public Works)		169,000	169,000	200,000
Incinerator/Water Treatment		419,000	419,000	280,000
Total Expenses	14,890,000	1,626,000	16,516,000	23,130,000
Surplus	4,580,000	NIL	4,580,000	NIL