Thank you, Madam Chair. The fund has now become professionally managed. That has improved the returns that are being received on the fund. The projection on the rate of the percent of the fund that is now actually interest, as opposed to the principal, it's projected to be close to 5 percent in the course of this fiscal year. Thank you, Madam Chair.

Thank you, Minister of Finance. Member of Frame Lake.

Thanks, Madam Chair. So, we've contracted out the management of the Heritage Fund. What kind of management fees are involved in management of our Heritage Fund now? Thanks, Madam Chair.

Thank you, Member for Frame Lake. Minister of Finance.

Madam Chair, I don't have that specific detail in front of me, but I know there is an annual report that is tabled, and I expect that that information will be available at that time. Thank you.

Thank you, Minister. Member for Frame Lake.

Thanks, Madam Chair. Is the Minister talking about the public accounts, or is there a separate report that's tabled in the House with regard to the Heritage Fund on an annual basis? Thanks, Madam Chair.

Thank you, Member for Frame Lake. Minister of Finance.

Thank you, Madam Chair. I may have just created an extra piece of work for the Department of Finance. It was part of the public accounts, but it certainly could be tabled on its own, or as part of the public accounts. I suppose that if there is a preference of the committee, we'd be open to hearing back from them. Thank you, Madam Chair.

Thank you, Minister of Finance. Member for Frame Lake.

Thanks, Madam Chair. I'm not sure it really makes much difference, but I guess I do think that we owe it to the public to be able to tell them, and disclose publicly, how much the management fees are that we are paying to a contracted party to manage our Heritage Fund. Can I get a commitment out of the Minister to provide that information publicly? Thanks, Madam Chair.

Thank you, Member for Frame Lake. Minister of Finance.

Madam Chair, that's fine. I have no problem making that commitment. On the theme of there being some fees that are being paid for the management of the fund, I point out again that the fund is actually doing better as a result of that. So, it is my hope that that's going to be overall, that we will see a positive return on our investment for having sought those fees. Obviously, if that's not turning out to be the case, since that change is fairly new, then further change can be looked at. Thank you, Madam Chair.

Thank you, Minister. Member for Frame Lake.

Thanks, Madam Chair. Moving forward, has the department put its mind to whether it's now time to have some kind of direct public oversight, or involvement in the management, of the Heritage Fund? At the end of this upcoming year it's going to be almost $35 million. This was a criticism at the time the legislation came forward 10 years ago, and why I know is because I was one of the ones criticizing it at the time, the need for some kind of public engagement, or public involvement, in the management of the funds in account it with appropriate accountabilities, and that the revenue stream into it should be defined in legislation, not by convention, or agreement, or, the, pardon me, whim of the Finance Minister of the day. Are those things that are the radar for the department? Thanks, Madam Chair.

Thank you, Member for Frame Lake. Minister of Finance.

Thank you, Madam Chair. Those are the kinds of questions I would think would be appropriate for the 10-year review. Given that that process will be undertaken within the life of this Assembly, I can at the very least, commit to ensuring that those kinds of questions are back as part of the process with the committee. Thank you, Madam Chair.

Thank you, Minister. Are there any further question on the information item Northwest Territories Heritage Fund? Seeing none, page 156. Liquor and Cannabis Revolving Fund (information item). Any questions? Member for Yellowknife North.

Thank you, Madam Chair. Looking at the 2019 Main Estimates, there was $65 million for the liquor and cannabis sales. I see that the actuals were $54 million in 2018-2019. Now we are estimating $54 million. Is that due to us simply selling less cannabis than we expected, or what is the cause for that?

Thank you, Member for Yellowknife North. Minister of Finance.

Thank you, Madam Chair. The question I think I'm answering is: why the rates are low in terms of our profits? There have been reduced sales across Canada, in many jurisdictions, so, in that regard we would not be alone. I'm sorry, Madam Chair, if I did not fully answer the Member's question.

Thank you, Minister of Finance. Member for Yellowknife North.

Thank you, Madam Chair. Yes, I guess I'm looking for a breakdown when I look at the Main Estimates 2019-2020, and then they were revised to be lower, and what the cause in that $11 million drop is, and if that was due largely to lack of cannabis sales.

Thank you, Member for Yellowknife North. Minister of Finance.