Thank you, Mr. Chair. I'd like to thank the deputy minister for that explanation. So does this affect our overall long-term debt or our debt wall in any way? Thanks, Mr. Chair.
Debates of March 13th, 2018
This is page numbers 3815 - 3846 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 going.
Topics
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Stewart
Thanks, Mr. Chair. Yes, the short-term debt as well as the long-term debt goes under our debt limit, which is $1.3 billion, is the federally imposed debt limit. Thanks, Mr. Chair.
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Kevin O'Reilly Frame Lake
Thank you, Mr. Chair. So perhaps one last question: is the department looking at what the supplementary reserve is going to be for 2018-2019? Is it the same level? Or what sort of lessons learned are there when this goes into $7.5 million of debt? Thanks, Mr. Chair.
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Robert C. McLeod Inuvik Twin Lakes
Thank you, Mr. Chair. Mr. Chair, the capital supplementary will be at the same level, which I believe is $5 million. Thank you, Mr. Chair.
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Kevin O'Reilly Frame Lake
Thank you, Mr. Chair. I know that the Deputy Minister talked about this. That $10 million is related to a special warrant for the barges for the Marine Transportation Services. So when does that amount start to get transferred back into the revolving fund that was set up for expenses related to the marine transportation services? Thanks, Mr. Chair.
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Stewart
Thanks, Mr. Chair. My understanding is that it will be repaid over a 15-year period for the contributions we've made to them. Thanks, Mr. Chair.
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Kevin O'Reilly Frame Lake
Okay. Thanks, Mr. Chair. So over a 15-year period. I guess I was hoping for something shorter than that, but the amount that gets charged back to the revolving fund, does it include the interest on the short-term debt or any interest related to the special warrant? Does it get charged back to the revolving fund? Thanks, Mr. Chair.
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Stewart
Thanks, Mr. Chair. Yes, we'll charge the interest on that short-term debt back to the revolving fund. Thanks, Mr. Chair.
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The Chair Frederick Blake Jr.
Thank you, Mr. Stewart. Any further questions, committee? Seeing none. Seeing no further general comments, we will now proceed to a review of supplementary estimates by department. The committee has agreed to begin the review with the Department of Education, Culture and Employment, operation expenditures, not previously authorized, $1,500,000. I will now open the floor to general comments on the Department of Education. Seeing that there are no further comments, does committee agree to proceed to the detail contained in the tabled document?
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Some Hon. Members
Agreed.
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The Chair Frederick Blake Jr.
Committee, we will now begin at page 6, which I just read out. Okay. Supplementary Estimates (Infrastructure Expenditures), No. 4, 2017-2018, Education, Culture and Employment, operations expenditure, under not previously authorized, $1,500,000. Does committee agree?
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Some Hon. Members
Agreed.
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The Chair Frederick Blake Jr.
Thank you. Next we have, under Supplementary Estimates (Infrastructure Expenditures), No. 4, 2017-2018, under Department of Industry, Tourism and Investment, capital investment expenditures, not previously authorized, $900,000. Does committee agree?
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Some Hon. Members
Agreed.
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Some Hon. Members
Agreed.
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The Chair Frederick Blake Jr.
Thank you. Okay. That's it. Thank you, committee. Do you agree that you have concluded consideration of Tabled Document 135-18(3)?
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Some Hon. Members
Agreed.