Thank you, Mr. Chair. Can the Minister or the witness there please expand on what he is talking about? Is this money all going to the Inuvik to Tuktoyaktuk highway? That is what it sounded like to me, that that is where all of the costs are, but can I get that clarified? Thank you, Mr. Chair.
Debates of March 8th, 2018
This is page numbers 3721 – 3766 of the Hansard for the 18th Assembly, 3rd Session. The original version can be accessed on the Legislative Assembly's website or by contacting the Legislative Assembly Library. The word of the day was women.
Topics
Consideration in Committee of the Whole of Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters
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Mccormick
Yes, Mr. Chair. Thank you. Yes, the $1.724 million is for the highway operations itself. $2.7 million of that is for amortization expense, which is recorded in the books, and that is just for depreciation on the highway now that it is in service for this year.
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Shane Thompson Nahendeh
Thank you, Mr. Chair. Could the witness explain if this is a one-year thing or if this is a 30-year? Could he please explain the amortization period? Thank you, Mr. Chair.
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Mccormick
Thank you, Mr. Chair. The $2.7 is for the 2018-2019 fiscal year. The highway itself would be amortized over 40 years.
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Shane Thompson Nahendeh
Thank you, Mr. Chair. Moving forward, after 2018-2019, what are we looking at for amortization? Is this what we are looking at, $2.7 for the next 40 years, or is this going to be reduced as we move forward? Thank you, Mr. Chair.
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Mccormick
Thank you, Mr. Chair. This would actually be a reduced amount for a partial year. The GNWT uses straight line amortization, so it would be the total cost of the highway. The final completed cost would be amortized over the next 40 years, and that's just a straight divided out.
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Consideration in Committee of the Whole of Bills and Other Matters
The Chair R.J. Simpson
Just a reminder to everyone to let us know when you are done speaking. Mr. Thompson.
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Shane Thompson Nahendeh
Thank you, Mr. Chair. What would a normal year be? You're talking we're only going partial year, so what would the normal year be? Thank you, Mr. Chair.
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Mccormick
This cost of this highway would be in the neighbourhood of $8 or $9 million. It is just an amortization for an asset of this magnitude.
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Shane Thompson Nahendeh
Thank you, Mr. Chair. Hopefully, this will be my last question so I get a better understanding of it. So basically for the next 39 years, we're looking at $8 million a year, between $8 and $9 million, that we'll see on the books each year? Thank you, Mr. Chair.
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Wally Schumann Hay River South
Thank you, Mr. Chair. Yes, that's true and that will be all rolled in with all of our other assets. Thank you, Mr. Chair.
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The Chair R.J. Simpson
Thank you. Mr. Thompson. Nothing further from Mr. Thompson. Next, I have Mr. Vanthuyne.
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Cory Vanthuyne Yellowknife North
Thank you, Mr. Chairman. I also want to be able to give credit where credit is due. I want to commend the Department of Infrastructure for the work that they've done on making the improvements along Highway 4 and the entrance into the city.
The pathway, the new sidewalk along the rock face, as well as the illuminated crosswalk that was installed, are very well appreciated. I've had a number of comments provided to me from residents in the area. I'm sure that visitors to the city who, you know, visit around the area and who reside in the two hotels in the area are very grateful for that as well. Some kudos and thanks to the department for that investment.
Further to Highway 4, last year around this time I asked if we were able to consider putting barricades in the corner approaching the Prosperous boat launch. I understood that the department was evaluating those corners and maybe potentially considering some design to put in barricades. Can the Minister provide us with an update or whether or not barricades will be installed at that corner this year? Thank you, Mr. Chair.
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Wally Schumann Hay River South
Thank you, Mr. Chair. Since the Member asked me this question in the House, all the design work now has completed for kilometres 13 and 19. We are hopefully going to install these this year. Thank you, Mr. Chair.
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Cory Vanthuyne Yellowknife North
No. Once again, I appreciate the commitment and undertaking of that work. I look forward to seeing those installed for the safety of the public. Thank you. No further questions at this time.