Thank you, Mr. Chairman. Mr. Chairman, the municipal financing review is another joint venture between the NWT Association of Municipalities, the NWT Association of Municipal Administrators and the department. We are currently working on terms of reference for that review with all of those partners. We will be establishing a working and steering committee, very similar to what we did with the review of municipal legislation.

We think it is very important to have senior administrative officers, people who actually do work with the finances on a day-to-day basis, involved in that review. We expect to get the review under way once session is concluded and we are probably looking at having our terms of references nailed down by April 1st and then this will be ready to launch. In terms of how long it takes, as we are developing the terms of references, there are a number of areas and issues that have been identified by these different partners. They are very similar to the issues that Members are identifying today, what is working and what is not working with the way we currently fund communities.

I expect that at the earliest we would probably be looking at reporting back in the fall. We initially thought we could do this much faster, but as we are getting into it there are a number of concerns that are being raised by communities and by Members and we will want to make sure we have sufficient time to address them all and come back to the Minister with recommendations for changing the way we finance community governments. Thank you.