Thank you, Madam Chair. Basically, accumulated surplus is comprised of all past operating surpluses, which is the excess of revenue over expenses. This also represents the net economic resources such as assets and liabilities of BDIC. What this means is that BDIC has net positive resources that could be used to provide services in the future. So, in BDIC's balance sheets, they have $55 million of assets. Now, we have to account, in that $55 million, there is $38 million that is tied in their loans receivable under their loan portfolio. Also, in their $17 million cash, $11 million of this is restricted, so only $6 million of their cash is used for operations. With the $33 million that we have for accumulated surplus for BDIC, this is not an amount that we can readily use. Thank you, Madam Chair.
Ms. Salvador on Consideration In Committee Of The Whole Of Bills And Other Matters
In the Legislative Assembly on June 2nd, 2020. 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
June 2nd, 2020
Page 1008
Salvador
See context to find out what was said next.