Thank you, Mr. Chairman. The next issue to be discussed is entitled "Inadequate Reporting by Crown Corporations and Others".

This year's report noted that many public entities, including Arctic College, N.W.T. Power Corporation, N.W.T. Housing Corporation, N.W.T. Development Corporation, N.W.T. Business Credit Corporation, Workers' Compensation Board, and the N.W.T. Liquor Commission, were not filing Corporate Plans and Annual Reports that met the requirements of the Financial Administration Act. Any reports for 1994/1995 were all submitted later than the time prescribed and Corporate Plans did not include the information required. Members were informed by the Auditor General's staff that the Federal F.A.A. requires special examinations of Federal Crown Corporations and similar entities every five years. The Committees agreed that a similar position would be useful in the N.W.T. F.A.A.

The Members' concerns were centred around the need to better monitor and evaluate the performance of Crown Corporations and other agencies, especially since many of our Crown Corporations carry out policy initiatives that would usually be done by Departments in other jurisdictions.

RECOMMENDATION # 3

The Standing Committee recommends that the Financial Administration Act be amended to provide for regular examinations of Crown Corporations and other entities of the government similar to the provisions in Part X of the Financial Administration Act.

RECOMMENDATION # 4:

The Standing Committee recommends that the Government amend relevant legislation, regulations and/or policies to provide that.......