Thank you, Mr. Chairman. Back in 2007-2008 the GNWT, through the Financial Management Board, established a policy and authority for all the environmental costs related to contaminated sites to be paid through a central fund. Prior to that time the government would take an assessment of all the environmental liabilities it had, and it would note them in its notes to its financial and in the public accounts and financial statements. That is no longer the case. We now manage under a central fund.
Back in 2007-08, when we did an original assessment, we booked a large amount of money on our books to remediate those sites. As at March 31, 2012, the fund had a level of $44,187,970. It was a process where at the end of every year, as
sites become assessed and the values and the cost of remediated sites become known, adjustments are made to the fund. As sites are remediated, the fund is reduced by the amount that was booked. We undertake that process every year and we make adjustments where we have adjustments that exceed the appropriation of the government that has been approved by the Assembly, that we will come back and seek a supplementary appropriation to do that if that was required. That hasn’t been the case for the last couple of years.