Thank you, Mr. Chair. The $225,000 that we estimated for ‘15-16 revenues was based on the open active quarry permits that we’re aware of and the quarrying activity over the last five years. Quarrying is actually really hard to estimate or to know what might or might not be quarried. The royalty is paid in advance and then only on final inspection do you recognize the revenue, and oftentimes the amount of royalty deposited in advance is actually refunded if the quarrying doesn’t take place. From the information that we had available since Lands came into being, we felt that $225,000 was a reasonable and conservative estimate. Hopefully, we do much better than that. Thank you, Mr. Chair.
Ms. Hilderman on Consideration in Committee of the Whole of Bills and Other Matters
In the Legislative Assembly on March 2nd, 2015. See this statement in context.
Consideration in Committee of the Whole of Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters
March 1st, 2015
Hilderman
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