Thank you, Madam Chair. Madam Chair, there was a couple of comments or questions asked. One, it is within our own accounting exercise that we account for this, our own policies as a government so that it is registered that we are giving a grant-in-kind by foregoing this interest. So we are following our own rules and procedures by accounting for this. That is how Members are aware of this grant-in-kind. As stated, as well, the guarantee has been exercised. So in the future, the only thing we have to go on is this agreement signed by our previous government. We are going on it. It is a 10-year agreement revisited within five years. So that is the thing, there is no more $10 million out there on this agreement. This one was worth $2.6 million and we are going to get that principal repaid. Again, the accounting exercise to show the foregone interest as a grant-in-kind is part of the rules and procedures that we follow as a government so that is why it is highlighted the way it is. Thank you.
Floyd Roland on Committee Motion 3-15(3): To Delete $120,000 From The Financial Management Board Secretariat Budgeting And Evaluation Re Foregone Interest, Defeated
In the Legislative Assembly on March 22nd, 2004. See this statement in context.
Committee Motion 3-15(3): To Delete $120,000 From The Financial Management Board Secretariat Budgeting And Evaluation Re Foregone Interest, Defeated
Item 20: Consideration In Committee Of The Whole Of Bills And Other Matters
March 22nd, 2004
Page 148
See context to find out what was said next.