Thank you, Madam Chair. I’m here to present Supplementary Estimates (Operations Expenditures), No. 4, 2010-2011. This document provides an increase of $5.754 million for operational expenditures for departmental over-expenditures in the 2010-2011 fiscal year.
During the year-end process to finalize the 2010-2011 GNWT financial statements, adjustments are typically made to departmental expenditures to ensure the statements are prepared in accordance with Canadian generally accepted accounting principles. The 2010-2011 year-end process identified a number of adjustments that resulted in departments exceeding their appropriation authority.
Section 36(4) of the Financial Administration Act states that the Minister of Finance shall submit an appropriation in the form of a supplementary
appropriation bill to the Legislative Assembly to finance any departmental over-expenditures resulting from the year-end process.
Appropriation authority is, therefore, being sought for adjustments in the following two categories of over-expenditures:
1. Appropriation authority totalling $2.569 million to
account for the reallocation of previously expended capital investment expenditures to operations expenditures. The net financial impact on government operations is nil as the transaction does not represent any additional outlay.
2. $3.185 million to fund departments who over-
expended their approved operations expenditures appropriations in the 2010-2011 fiscal year and thus require appropriation authority for the over-expenditure as required by the Financial Administration Act. These over-expenditures result from accounting adjustments made after year-end.
I am prepared to review the details of the supplementary estimates document.