Thank you, Mr. Chairman. Yes, we actually incorporated in that base budget adjustment in 2018-2019, and that was as part of that initial allocation under the bilateral agreement, for modernization and improvement. Now, subsequent to that, though, there have been other adjustments in the modernization and improvements area, and one of the larger adjustments there is a $400,000 reduction associated with the decline in gain on disposal of assets, and I will explain that. That is a revenue adjustment that we had to implement in our fiscal framework. Historically, if you look at the revenue schedule, we were targeting about $800,000 a year for gains on sales of assets. However, over the last few years, we have noticed that, the Housing Corporation, the assets that we are now dealing with are aged assets and we are no longer realizing these gains on sales in these situations. So we had to adjust the fiscal framework, and where we adjusted it was in the modernization and improvement category. Thank you, Mr. Chairman.
Mr. Martin on Consideration In Committee Of The Whole Of Bills And Other Matters
In the Legislative Assembly on March 7th, 2019. 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 7th, 2019
Page 5268
Martin
See context to find out what was said next.