Government approves write-offs for 2019-20
The Government of Nova Scotia says it is writing off $65.5 million in debt that is considered un-collectable as of March 31.
A release says write-offs are a normal cost of doing business for any public or private organization, and although a debt is written off, efforts to collect the funds continue.
Minister of Finance and Treasury Board Karen Casey said in a release, "It is important to note these transactions originated in previous fiscal years and do not have an impact on the province's 2019-20 deficit or surplus position."
The province says the total write-offs for 2019-20 are mainly due to a single event, the receivership of DSME Trenton Ltd.