Thank you. Supplementary Appropriation Act, No. 5, 1998-99, requests authority for additional appropriations of $35,598,364, made up of $29,223,364 for operations and maintenance expenditures and $6.375 million for capital. Approximately $7.5 million of the new supplementary requirements will be offset by revenues or other recoveries and will not impact the government's operating results for the year. Twenty million dollars was anticipated and provided for in the government's fiscal framework to address the ultimate outcome of the new collective agreement. The net new funding requirements included in this supplementary appropriation amount to $8.1 million.
Improvement in the 1998-99 revenue forecasts and a one-time retroactive adjustment to the grant from Canada in the 1997-98 fiscal year has permitted the government to provide for additional critical needs through supplementary appropriations, which exceeds the anticipated requirements included in the 1998-99 Main Estimates.
With the revenue forecast adjustments on the year-to-date supplementary appropriations we do project an accumulated surplus at the end of the 1998-99 fiscal year of approximately $58 million as compared to an accumulated deficit of $28 million forecast in 1998-99 estimates.
The operations and maintenance supplementary appropriation requirements include the following major items: $20.5 million for implementation for the Job Evaluation System and the recently ratified collective agreement; $1.7 million to address the legal costs of the Conflict Inquiry; $1.6 million for the increase borrowing costs required to meet the government's requirements to the end of the fiscal year; and $1.6 million for the government's share of the replacement cost of the RCMP plane, this amount will be offset by recoveries of prior years' expenditures related to the Policing Agreement. The supplementary capital appropriation requirements include $5 million for the NWT Housing Corporation to address capital requirements associated with the Plan 2000 Program implementation. This will be offset by recovery of an operations and maintenance surplus from the Housing Corporation, $1 million for the Housing Corporation to extend the Minimum Down Payment Assistance Program pilot project. Mr. Chairman, that is all. Thank you.