Thank you, Mr. Chairman. Yes, there was a plan with the community in place, where they may have brought the financial positions fully under control. What they are now dealing with is addressing the long-term reductions in ongoing funding that they would have to deal with. The community got into this particular situation because they entered into a loan at a time when the funding was considerably higher than it is under the new formula. So they entered into this loan thinking that in the long run, they would have a higher level of funding from the Government of the Northwest Territories and therefore would be able to absorb the ongoing payments.
Mr. Murray on Recommendation 1
In the Legislative Assembly on March 5th, 2002. See this statement in context.
Recommendation 1
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
March 5th, 2002
Page 382
Murray
See context to find out what was said next.