Thank you, Madam Chair. The loss on sale represents a non-cash expenditure for the NWT Housing. And this comes about through the disposition of housing assets that have remaining net book value associated with those assets. So in 2021-2022, Housing NWT disposed of approximately 24 housing units. And as a result of that, there was $1 million loss on sale that had to be booked for accounting purposes. And within that, the most significant change there was related to Jean Marie River during the flood event. We had four units that were actually damaged beyond repair and had to be basically removed from the books. And the net book value associated with those alone was about $750,000. Thank you, Madam Chair.
Mr. Martin on Consideration In Committee Of The Whole Of Bills And Other Matters
In the Legislative Assembly on February 14th, 2023. 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
February 14th, 2023
Page 5278
Martin
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