Thank you, Mr. O'Reilly. Mr. Guy.
Debates of Feb. 25th, 2019
This is page numbers 4981 - 5026 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. View the webstream of the day's session.
Topics
Consideration In Committee Of The Whole Of Bills And Other Matters
Consideration In Committee Of The Whole Of Bills And Other Matters
Page 4996
Consideration In Committee Of The Whole Of Bills And Other Matters
Consideration In Committee Of The Whole Of Bills And Other Matters
Page 4996
Guy
Thank you, Mr. Chair. Yes, there is.
Consideration In Committee Of The Whole Of Bills And Other Matters
Consideration In Committee Of The Whole Of Bills And Other Matters
Page 4996
Consideration In Committee Of The Whole Of Bills And Other Matters
Consideration In Committee Of The Whole Of Bills And Other Matters
Page 4996
Kevin O'Reilly Frame Lake
Thanks, Mr. Chair. Well, that was extremely short. Why? Thanks, Mr. Chair.
Consideration In Committee Of The Whole Of Bills And Other Matters
Consideration In Committee Of The Whole Of Bills And Other Matters
Page 4996
Consideration In Committee Of The Whole Of Bills And Other Matters
Consideration In Committee Of The Whole Of Bills And Other Matters
Page 4996
Guy
Thank you, Mr. Chair. The Petroleum Products Revolving Fund covers the cost of purchasing, delivering, transporting, and operating the fuel distribution system. The cost associated with moving the fuel, whether it is by truck, barge, or in this case, airplane, was charged to that fund. Thank you, Mr. Chair.
Consideration In Committee Of The Whole Of Bills And Other Matters
Consideration In Committee Of The Whole Of Bills And Other Matters
Page 4996
Consideration In Committee Of The Whole Of Bills And Other Matters
Consideration In Committee Of The Whole Of Bills And Other Matters
Page 4996
Kevin O'Reilly Frame Lake
Thanks, Mr. Chair. That is kind of a creative way. Look, I don't run these things, but when an expense is incurred because of one operation and it gets charged to another, is that the way we handle this stuff? Thanks, Mr. Chair.
Consideration In Committee Of The Whole Of Bills And Other Matters
Consideration In Committee Of The Whole Of Bills And Other Matters
Page 4996
Consideration In Committee Of The Whole Of Bills And Other Matters
Consideration In Committee Of The Whole Of Bills And Other Matters
Page 4996
Guy
Thank you, Mr. Chair. In this case, the cost of transporting the fuel is something that will be charged inside the Petroleum Products Revolving Fund, so that is where that cost was put, along with all of the other marine transportation costs. Thank you, Mr. Chair.
Consideration In Committee Of The Whole Of Bills And Other Matters
Consideration In Committee Of The Whole Of Bills And Other Matters
Page 4996
Consideration In Committee Of The Whole Of Bills And Other Matters
Consideration In Committee Of The Whole Of Bills And Other Matters
Page 4996
Kevin O'Reilly Frame Lake
Thanks, Mr. Chair. Let's turn, then, to Marine Transportation Services Revolving Fund. It is on 255. The revenues are obviously way down from 2018-2019 to 2019-2020. What is happening with the revenues? Thanks, Mr. Chair.
Consideration In Committee Of The Whole Of Bills And Other Matters
Consideration In Committee Of The Whole Of Bills And Other Matters
Page 4996
Consideration In Committee Of The Whole Of Bills And Other Matters
Consideration In Committee Of The Whole Of Bills And Other Matters
Page 4996
Guy
I am just looking for the number here. In 2018-2019, forecasted revenues are what you see here on the page. Our actual revenues year-to-date for 2018-2019 are significantly higher. Thank you, Mr. Chair.
Consideration In Committee Of The Whole Of Bills And Other Matters
Consideration In Committee Of The Whole Of Bills And Other Matters
Page 4996
Consideration In Committee Of The Whole Of Bills And Other Matters
Consideration In Committee Of The Whole Of Bills And Other Matters
Page 4996
Kevin O'Reilly Frame Lake
Thanks, Mr. Chair. That is helpful. I can see that. Why is there $40 million in 2018-2019 and then only predicted to be $12.35 million for 2019-2020? Thanks, Mr. Chair.
Consideration In Committee Of The Whole Of Bills And Other Matters
Consideration In Committee Of The Whole Of Bills And Other Matters
Page 4996
Consideration In Committee Of The Whole Of Bills And Other Matters
Consideration In Committee Of The Whole Of Bills And Other Matters
Page 4996
Mccormick
Thank you, Mr. Chair. As Deputy Minister Guy has stated, the revised main estimates are tracking where we were at the time that these estimates were produced. The 2019-2020 estimates were based on the business plan that we have in place. There was a three-year rolling business plan, and that is where those numbers came from. That is why they are showing less. Basically, that is to show a conservative estimate, because some of that business, offshore and that, we can't count on year-to-year, so we try not to bank on it for the purposes of estimation. Thank you.
Consideration In Committee Of The Whole Of Bills And Other Matters
Consideration In Committee Of The Whole Of Bills And Other Matters
Page 4996
Consideration In Committee Of The Whole Of Bills And Other Matters
Consideration In Committee Of The Whole Of Bills And Other Matters
Page 4996
Kevin O'Reilly Frame Lake
Thanks, Mr. Chair. It looks like we are still trying to figure out that fund. I am going to leave it alone for now, but it is certainly jumping all over the place. Let's turn to the Yellowknife Airport Revolving Fund on 257. I guess my first question is: why is the accumulated surplus for 2019-2020 predicted to be almost $36 million, which is the authorized limit? Thanks, Mr. Chair.
Consideration In Committee Of The Whole Of Bills And Other Matters
Consideration In Committee Of The Whole Of Bills And Other Matters
Page 4996
Consideration In Committee Of The Whole Of Bills And Other Matters
Consideration In Committee Of The Whole Of Bills And Other Matters
February 25th, 2019
Page 4996
Mccormick
Thank you, Mr. Chair. Because the Yellowknife Airport Revolving Fund is a special purpose statement, the accumulated surplus is just shown this way for presentation purposes. The assets are owned by the GNWT, so the actual authorized limit surplus would not include the accumulated surplus for the assets that the GNWT owns. It is just for presentation purposes on the statements. The actual accumulated surplus would be approximately $12.5 million, is what we are predicting for 2019-2020, and with an accumulated real surplus of about $23 million. There would be a significant difference between that and the authorized limit. Thank you, Mr. Chair.
Consideration In Committee Of The Whole Of Bills And Other Matters
Consideration In Committee Of The Whole Of Bills And Other Matters
Page 4996
Consideration In Committee Of The Whole Of Bills And Other Matters
Consideration In Committee Of The Whole Of Bills And Other Matters
Page 4996
Kevin O'Reilly Frame Lake
Thanks, Mr. Chair. Here is my usual statement: if I wasn't confused before, now I am. There is some other imaginary surplus that is not shown on this page. Can the Minister provide this to us? I am looking at what we are supposed to be reviewing, but some other figures are being presented. Thanks, Mr. Chair.
Consideration In Committee Of The Whole Of Bills And Other Matters
Consideration In Committee Of The Whole Of Bills And Other Matters
Page 4996