Province Approves Write-offs for 2009-10

The province is writing off $6.1 million in debts that were considered unpaid or uncollectable as of March 31, 2009.

Write-offs are a routine part of preparing the province's public accounts for the fiscal year.

Eleven departments have write-offs for things such as student loans, farm loans, pharmacare premiums and insurance settlements.

Debts are written off when it is determined that they are unlikely to be paid in cases of personal or commercial bankruptcy, death of the debtor and property foreclosure. Very small debts may be written off if it would cost more to attempt to collect the debt.

The write-offs for 2009-10 are less than those for the last fiscal year, which totalled $10.2 million.

There will be no impact on the current year's budget because the amounts are recorded in the March 31, 2009, financial statements.

Although written off from an accounting point of view, the province will continue its efforts to collect the debts.

A list of the write offs is available at www.gov.ns.ca/finance .