Thank you, Mr. Speaker. I should let Members know that as of this morning there is a total of nine members now on the Board of the NWT Development Corporation. Cabinet is now is full compliance with the requirements of the act.
In regard to proper spending authorities being in place for expenditure of monies, this is one of the responsibilities perhaps that the Auditor General performs where public money is being spent. I believe that the Auditor General has pointed out for a number of years concerns that he has about the operational manner, perhaps, of the NWT Development Corporation. We have tasked the president of the Development Corporation to address those concerns over the last number of years. The Auditor General this year has again raised concerns, so we have decided to do an operational audit and I believe we are moving to have a full comprehensive audit of the Development Corporation so that we can be very specific about whether or not we are operating properly. These are not exact accounting terms or legal terms that I am using but, if we are not complying in the eyes of the Auditor General then I want to move decisively this year to address those concerns and we are moving in that direction. Thank you.