Yeah, thank you, Madam Chair. So there's a couple of things. Certainly -- firstly, the premiums themselves are going up as others may well have seen in their own personal lives in budgeting that insurance costs are going up. There's also some new assets that have been taken on by the GNWT, and that's added a bit more to the total cost. Thank you, Madam Chair.
Debates of March 10th, 2022
This is page numbers 3947 - 4016 of the Hansard for the 19th Assembly, 2nd 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 know.
Topics
Committee Motion 201-19(2): Tabled Document 561-19(2): Main Estimates 2022-2023 - Industry, Tourism and Investment - Deferral of Department, Carried
Consideration In Committee Of The Whole Of Bills And Other Matters
March 10th
Page 3977
Committee Motion 201-19(2): Tabled Document 561-19(2): Main Estimates 2022-2023 - Industry, Tourism and Investment - Deferral of Department, Carried
Consideration In Committee Of The Whole Of Bills And Other Matters
March 10th
Page 3977
Committee Motion 201-19(2): Tabled Document 561-19(2): Main Estimates 2022-2023 - Industry, Tourism and Investment - Deferral of Department, Carried
Consideration In Committee Of The Whole Of Bills And Other Matters
March 10th
Page 3977
Caitlin Cleveland Kam Lake
Thank you very much, Madam Chair. Are these new assets that will be consistently insured from here on in by the GNWT, or is this a one-time thing? Thank you.
Committee Motion 201-19(2): Tabled Document 561-19(2): Main Estimates 2022-2023 - Industry, Tourism and Investment - Deferral of Department, Carried
Consideration In Committee Of The Whole Of Bills And Other Matters
March 10th
Page 3977
Committee Motion 201-19(2): Tabled Document 561-19(2): Main Estimates 2022-2023 - Industry, Tourism and Investment - Deferral of Department, Carried
Consideration In Committee Of The Whole Of Bills And Other Matters
March 10th
Page 3977
Caroline Wawzonek Yellowknife South
Thank you, Madam Chair. No, I think these would be incoming assets that are now here to stay. Thank you, Madam Chair.
Committee Motion 201-19(2): Tabled Document 561-19(2): Main Estimates 2022-2023 - Industry, Tourism and Investment - Deferral of Department, Carried
Consideration In Committee Of The Whole Of Bills And Other Matters
March 10th
Page 3977
Committee Motion 201-19(2): Tabled Document 561-19(2): Main Estimates 2022-2023 - Industry, Tourism and Investment - Deferral of Department, Carried
Consideration In Committee Of The Whole Of Bills And Other Matters
March 10th
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Caitlin Cleveland Kam Lake
Thank you very much, Madam Chair. The environmental liabilities one for the 2020-2021 Actuals were substantially higher than the expectation of kind of the consistent number year after year. I'm wondering if the Minister can speak to why that doubled in the actuals for 2021-2022? Thank you.
Committee Motion 201-19(2): Tabled Document 561-19(2): Main Estimates 2022-2023 - Industry, Tourism and Investment - Deferral of Department, Carried
Consideration In Committee Of The Whole Of Bills And Other Matters
March 10th
Page 3977
Committee Motion 201-19(2): Tabled Document 561-19(2): Main Estimates 2022-2023 - Industry, Tourism and Investment - Deferral of Department, Carried
Consideration In Committee Of The Whole Of Bills And Other Matters
March 10th
Page 3977
Caroline Wawzonek Yellowknife South
Madam Chair, I might direct that over to the deputy minister and see if he can speak to that change, please. Thank you.
Committee Motion 201-19(2): Tabled Document 561-19(2): Main Estimates 2022-2023 - Industry, Tourism and Investment - Deferral of Department, Carried
Consideration In Committee Of The Whole Of Bills And Other Matters
March 10th
Page 3977
Committee Motion 201-19(2): Tabled Document 561-19(2): Main Estimates 2022-2023 - Industry, Tourism and Investment - Deferral of Department, Carried
Consideration In Committee Of The Whole Of Bills And Other Matters
March 10th
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Mackay
No, I can take it, okay. Oh, I'm sure he -- Mr. Courtoreille could as well. But I will. I'll take this.
So Madam Chair, the Member -- the amount is just an estimate of $2 million. So we estimate that based on a year review with departments, and then the actuals at the yearend are based on departmental reviews. So that's basically how we determine it. It's similar to what we mentioned with the Heritage fund. We estimate the amounts going into the Heritage fund for budgeting purposes at a $7.6 million but the actual amount turns out to be something more or less every year. So thank you, Madam Chair.
Committee Motion 201-19(2): Tabled Document 561-19(2): Main Estimates 2022-2023 - Industry, Tourism and Investment - Deferral of Department, Carried
Consideration In Committee Of The Whole Of Bills And Other Matters
March 10th
Page 3977
Committee Motion 201-19(2): Tabled Document 561-19(2): Main Estimates 2022-2023 - Industry, Tourism and Investment - Deferral of Department, Carried
Consideration In Committee Of The Whole Of Bills And Other Matters
March 10th
Page 3977
Caitlin Cleveland Kam Lake
Thank you very much, Madam Chair. And I guess a similar for the increased under corporate and administrative costs, and it seems to be a million dollars lower now, and I know that's a couple years later for the prediction -- or the I guess estimate is a million dollars lower. And I'm just wondering if the Minister can speak to that as well, please. Thank you.
Committee Motion 201-19(2): Tabled Document 561-19(2): Main Estimates 2022-2023 - Industry, Tourism and Investment - Deferral of Department, Carried
Consideration In Committee Of The Whole Of Bills And Other Matters
March 10th
Page 3977
Committee Motion 201-19(2): Tabled Document 561-19(2): Main Estimates 2022-2023 - Industry, Tourism and Investment - Deferral of Department, Carried
Consideration In Committee Of The Whole Of Bills And Other Matters
March 10th
Page 3977
Caroline Wawzonek Yellowknife South
Thank you, Madam Chair. So this is -- this is certainly an area where there are some estimations that need to take place in terms of what taxes will be owing at any particular time. You know, I would commit everyone to looking at the public accounts which is where you would see the reconciling of what amounts are estimated versus what action comes in. Thank you, Madam Chair.
Committee Motion 201-19(2): Tabled Document 561-19(2): Main Estimates 2022-2023 - Industry, Tourism and Investment - Deferral of Department, Carried
Consideration In Committee Of The Whole Of Bills And Other Matters
March 10th
Page 3977
The Chair Lesa Semmler
Thank you. Sorry, which -- did you want me to -- did you have any further questions? Oh, okay. Well, I wasn't sure if you were done or not. Okay. Be more clear. Okay, thank you. Are there -- oh, Member for Frame Lake.
Committee Motion 201-19(2): Tabled Document 561-19(2): Main Estimates 2022-2023 - Industry, Tourism and Investment - Deferral of Department, Carried
Consideration In Committee Of The Whole Of Bills And Other Matters
March 10th
Page 3977
Kevin O'Reilly Frame Lake
Thanks, Madam Chair. So the -- on page 157, asset retirement, there's a couple of new entries here. Something called "accretion." I don't even know what that means. And then amortization. Are these things going to be like annual ongoing charges or expenses of some sort? Thanks, Madam Chair.
Committee Motion 201-19(2): Tabled Document 561-19(2): Main Estimates 2022-2023 - Industry, Tourism and Investment - Deferral of Department, Carried
Consideration In Committee Of The Whole Of Bills And Other Matters
March 10th
Page 3977
Committee Motion 201-19(2): Tabled Document 561-19(2): Main Estimates 2022-2023 - Industry, Tourism and Investment - Deferral of Department, Carried
Consideration In Committee Of The Whole Of Bills And Other Matters
March 10th
Page 3977
Caroline Wawzonek Yellowknife South
Thank you, Madam Chair. There were -- both of these items relate to changes in the public sector accounting standards. Accretion is the present value of a future liability. And then of course amortization, a little more commonly seen in terms of understanding the value of assets. And this is something that will now be here going forward. It doesn't -- as I said, it's just the fact of having to account for these assets which wasn't being done before and we'll now see them going forward. Thank you, Madam Chair.
Committee Motion 201-19(2): Tabled Document 561-19(2): Main Estimates 2022-2023 - Industry, Tourism and Investment - Deferral of Department, Carried
Consideration In Committee Of The Whole Of Bills And Other Matters
March 10th
Page 3977
Committee Motion 201-19(2): Tabled Document 561-19(2): Main Estimates 2022-2023 - Industry, Tourism and Investment - Deferral of Department, Carried
Consideration In Committee Of The Whole Of Bills And Other Matters
March 10th
Page 3977
Kevin O'Reilly Frame Lake
Okay, thanks, Madam Chair. The short-term interest took a big jump from 2021 to the next couple years. Is -- is that because of our overspending on capital projects and the need to go to short-term borrowing? Thanks, Madam Chair.
Committee Motion 201-19(2): Tabled Document 561-19(2): Main Estimates 2022-2023 - Industry, Tourism and Investment - Deferral of Department, Carried
Consideration In Committee Of The Whole Of Bills And Other Matters
March 10th
Page 3977
Committee Motion 201-19(2): Tabled Document 561-19(2): Main Estimates 2022-2023 - Industry, Tourism and Investment - Deferral of Department, Carried
Consideration In Committee Of The Whole Of Bills And Other Matters
March 10th
Page 3977
Caroline Wawzonek Yellowknife South
Thank you, Madam Chair. So Madam Chair, the actuals in 2021 were lower than anticipated because of sustained low interest rates and -- but we shall be seeing, of course, where -- where the future of the economy goes. Thank you, Madam Chair.
Committee Motion 201-19(2): Tabled Document 561-19(2): Main Estimates 2022-2023 - Industry, Tourism and Investment - Deferral of Department, Carried
Consideration In Committee Of The Whole Of Bills And Other Matters
March 10th
Page 3977
Committee Motion 201-19(2): Tabled Document 561-19(2): Main Estimates 2022-2023 - Industry, Tourism and Investment - Deferral of Department, Carried
Consideration In Committee Of The Whole Of Bills And Other Matters
March 10th
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Kevin O'Reilly Frame Lake
Thanks. Is any of that, though, due to overspending on capital? Is that what -- part of this increase as well? Thanks, Madam Chair.