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Province Approves Writeoffs for 2013-14

The province is writing off $12.1 million in debts that will be considered unpaid or uncollectible as of March 31.

Writeoffs are a routine accounting practice. They have no impact on departmental budgets or Nova Scotia’s deficit or surplus position because the transactions originated in previous fiscal years.

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.

The province will continue to try to collect the debts.

This year’s writeoffs are mostly related to uncollectable loans at the departments of Labour and Advanced Education, Economic and Rural Development and Tourism, and Agriculture, and unpaid fines and fees at the departments of Justice, Health and Wellness, Natural Resources, Service Nova Scotia and Municipal Relations, and Transportation and Infrastructure Renewal.

The average over the last 10 years is $12.4 million, with a high of $38.4 million in 2011-12 and a low of $4.2 million in 2004-05.

Nine departments have items that will be written off. A more detailed summary is available at www.gov.ns.ca/finance .

Source: Release

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