Mr. Pollard.
Debates of March 30th, 1992
Topics
Bill 25, Supplementary Appropriation Act, No. 3, 1991-92
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
Page 528
The Chair Richard Nerysoo
Bill 25, Supplementary Appropriation Act, No. 3, 1991-92
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
Page 528
John Pollard Hay River
Mr. Chairman, I was just trying to recall from memory, and I will wing it. There is a business plan for the Patterson sawmill, and I believe it calls for the operation to break even in three years. So there was a submission to FMB in this regard.
Bill 25, Supplementary Appropriation Act, No. 3, 1991-92
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
Page 528
The Chair Richard Nerysoo
Mr. Gargan.
Bill 25, Supplementary Appropriation Act, No. 3, 1991-92
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
Page 528
Samuel Gargan Deh Cho
Would that be the same kind of arrangement with the Pangnirtung weaving enterprise and the Fort McPherson canvas shop?
Bill 25, Supplementary Appropriation Act, No. 3, 1991-92
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
Page 528
The Chair Richard Nerysoo
Mr. Pollard.
Bill 25, Supplementary Appropriation Act, No. 3, 1991-92
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
Page 528
John Pollard Hay River
Very similar, correct.
Bill 25, Supplementary Appropriation Act, No. 3, 1991-92
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
Page 528
The Chair Richard Nerysoo
Mr. Dent.
Doubtful Account Allowance
Bill 25, Supplementary Appropriation Act, No. 3, 1991-92
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
Page 528
Charles Dent Yellowknife Frame Lake
Thank you, Mr. Chairman. Regarding the doubtful account allowance, I wonder if the Minister could advise us if the department has made an assessment of how many of these or what proportion or percentage of these accounts will actually become bad debts.
Bill 25, Supplementary Appropriation Act, No. 3, 1991-92
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
Page 528
The Chair Richard Nerysoo
Mr. Pollard.
Bill 25, Supplementary Appropriation Act, No. 3, 1991-92
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
Page 528
John Pollard Hay River
Mr. Chairman, are we dealing with the doubtful accounts now?
Bill 25, Supplementary Appropriation Act, No. 3, 1991-92
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
Page 528
The Chair Richard Nerysoo
I believe it is all part of that not previously authorized expenditure. There is a point on three that says, to provide funding to increase the doubtful account allowance. Mr. Pollard.
Bill 25, Supplementary Appropriation Act, No. 3, 1991-92
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
Page 528
John Pollard Hay River
With regard to the doubtful accounts, the amount that is being set up is not being written off; it is being said as being doubtful. The reason for that is because we were changing the loans from the business loans fund over to the NWT Business Credit Corporation. Of some $20 million that we were turning over, it was decided that there were some doubtful accounts in the amount of $2.4 million, and the government will maintain the $2.4 million, and we will still attempt to collect on that $2.4 million. I cannot give the Member an estimate of which ones I do not think we will be able to collect. Obviously, Mr. Chairman, we would like to collect all of them. Thank you.
Bill 25, Supplementary Appropriation Act, No. 3, 1991-92
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
Page 528
The Chair Richard Nerysoo
Mr. Dent.
Bill 25, Supplementary Appropriation Act, No. 3, 1991-92
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
Page 528
Charles Dent Yellowknife Frame Lake
Thank you, Mr. Chairman. Is this $2.4 million all owed by businesses which are still in operation, or does this represent some debts owed by corporations that have gone out of business now?
Bill 25, Supplementary Appropriation Act, No. 3, 1991-92
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
Page 528
The Chair Richard Nerysoo
Mr. Pollard.
Bill 25, Supplementary Appropriation Act, No. 3, 1991-92
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
Page 528
John Pollard Hay River
There are businesses that are still in operation, and also there are businesses that are no longer in operation. There is a mixture.
Bill 25, Supplementary Appropriation Act, No. 3, 1991-92
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
Page 528
The Chair Richard Nerysoo
Mr. Dent.
Bill 25, Supplementary Appropriation Act, No. 3, 1991-92
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
Page 528
Charles Dent Yellowknife Frame Lake
If some of these businesses are no longer in operation, is the government hoping to collect on them through makinq good on personal guarantees, or should some of these, in fact, be written-off debts?
Bill 25, Supplementary Appropriation Act, No. 3, 1991-92
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
Page 528
The Chair Richard Nerysoo
Mr. Pollard.
Bill 25, Supplementary Appropriation Act, No. 3, 1991-92
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
Page 528
John Pollard Hay River
Like any financial institution we will make a reasonable attempt to recover what we believe is our loss; and obviously, if it seems impossible, then we will come back to the House to ask to write the debt off.
Bill 25, Supplementary Appropriation Act, No. 3, 1991-92
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
Page 528
The Chair Richard Nerysoo
Mr. Dent.
Bill 25, Supplementary Appropriation Act, No. 3, 1991-92
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
Page 528
Charles Dent Yellowknife Frame Lake
Could we get some indication of how old some of these doubtful accounts are? Have some of them not made any payments for longer than five years? longer than three years? Just to try and get a feel for what sort of potential we have to recover these debts.
Bill 25, Supplementary Appropriation Act, No. 3, 1991-92
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
Page 528
The Chair Richard Nerysoo
Mr. Pollard.
Bill 25, Supplementary Appropriation Act, No. 3, 1991-92
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
Page 528
John Pollard Hay River
I do not have an aged analysis with me, but I will endeavour to get an aged analysis and give the breakdown by region and by time frame to the Member.
Bill 25, Supplementary Appropriation Act, No. 3, 1991-92
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
Page 528
The Chair Richard Nerysoo
Thank you. Business
development, $1,957,000. Mr. Gargan.
Northern-Owned Banking Institution