Notes to the Consolidated Financial Statements
14. Short-Term Debt The short-term advances are due to the Government of Saskatchewan’s General Revenue Fund. As at March 31, 2024, the advances have interest rates ranging from 5.0 per cent to 5.1 per cent and mature between May 7, 2024 and July 4, 2024. As at March 31, 2023, the advances had interest rates ranging from 4.4 per cent to 4.7 per cent and matured between April 6, 2023 and September 21, 2023. 15. Trade and Other Payables (millions) 2024 2023 Trade payables $ 68 $ 56 Interest payable 22 19 Other payables 53 70 $ 143 $ 145 16. Unearned Customer Capital Contributions and Government Grants Contract liabilities Contract liabilities are performance obligations the Corporation has not yet performed but has already received consideration from customers. (millions) 2024 2023 Balance, beginning of year $ 12 $ 19 Additions 37 46 Refunds - (1) Revenue (27) (52) Balance, end of year $ 22 $ 12 Refund liabilities, which are included within contract liabilities, relate to performance obligations the Corporation has not yet performed, has already received consideration from customers, and expects to refund the consideration to the customer based on actual flow of natural gas exceeding the estimated flows determined at contract inception. Deferred revenue Unearned government grants represent amounts received to compensate the Corporation for the cost of certain items of property, plant and equipment. There are no unfulfilled conditions or other contingencies attached to these government grants. The balance at March 31, 2024 was $4 million (2023 - $5 million).
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