Province writes off $10.6 million in uncollectible debts

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HALIFAX – The province is writing off $10.6 million in debts that will be considered unpaid or uncollectible as of March 31.

Writeoffs are a routine accounting practice and do not impact Nova Scotia's deficit or surplus position. This year's amount is $27.8 million less than last year's writeoff.

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.

Seven departments have writeoffs for things such as unpaid ambulance user fees, student loans, farm loans, Pharmacare premiums and fines.

The Department of Economic and Rural Development has the largest writeoff, at $3.6 million. This is attributed to defaulted loans from various programs. The writeoffs will have no additional impact on the department's budget.

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

 

Organizations: Department of Economic and Rural Development

Geographic location: Nova Scotia

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