8:52 am - Saturday, July 21 2018
Home / News / Government Approves Writeoffs for 2014-15

Government Approves Writeoffs for 2014-15

Government is writing off $12.2 million in unpaid or uncollectable debts as of March 31.

Writeoffs are a routine accounting practice. Debts are written off each year when it is determined they are unlikely to be paid because of personal or commercial bankruptcy, death of the debtor or property foreclosure.

Government will continue debt collection efforts.

This year’s writeoffs are mostly related to uncollectable loans in the departments of Labour and Advanced Education, Economic and Rural Development and Tourism, and Agriculture, and unpaid fines and fees at Health and Wellness, Justice, Natural Resources and Service Nova Scotia. The Department of Finance and Treasury Board will write off uncollectable advances of the Public Service Award.

The average over the last 10 years is $13.2 million.

All debts have originated in previous fiscal years and have no impact on departmental budgets or Nova Scotia’s deficit or surplus position.

A more detailed summary of the approved writeoffs is available at www.novascotia.ca/finance .

Source: Release

About Haligonia.ca

See news happening near you? Tell us. Click here to email our team.

 

The views and opinions expressed in this content are those of the author and do not necessarily reflect those of haligonia.ca.

You might also like...

FB_IMG_1519511557080

Case of missing fisherman handed over to Halifax District RCMP

The case of a man who went missing while fishing on Thursday night has been handed...

Leave a Reply

Your email address will not be published. Required fields are marked *