Thank you, Mr. Chair. As previously stated, the assets will be disclosed in the financial statements of Marine Transportation Services. The assets would be recorded as a liability. The amounts included in special warrants, et cetera, would be recorded as liabilities, the assets as assets. The difference between the assets and the liabilities of the revolving fund are the accumulated surplus. That is where we build up operating room to make debt repayments, purchase new assets, and that. They would be shown on the financial statements of MTS. The assets are ultimately owned by the Government of the Northwest Territories. We are not a separate legal entity. We are a division of a department. Thank you, Mr. Chair.
Mr. Mccormick on Consideration in Committee of the Whole of Bills and Other Matters
In the Legislative Assembly on March 8th, 2018. 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 8th, 2018
Mccormick
See context to find out what was said next.