Capital assets The Corporation's capital asset policy is to capitalize any items in excess of $10,000. Capital assets are initially recorded at cost. Amortization is provided for using the rates and method over their estimated useful lives...
AI summary The Corporation's capital asset policy involves capitalizing items exceeding $10,000, initial cost-based recording, and amortization over estimated useful lives (e.g., 2 years for software, 3 years for furniture, lease term for improvements). Half-year amortization is applied in the acquisition year.
8. INTERFUND TRANSFERS The Corporation's management transferred $435,591 (2010 - $51,844) from the EDSM Fund and $112,593 (2010 - nil) from the Provincial Fund to the Capital Asset Fund for the purchase of furniture and fixtrures and lease...
AI summary The Corporation transferred funds from the EDSM Fund and Provincial Fund to the Capital Asset Fund for purchasing furniture, fixtures, and leasehold improvements. The transfer amounts were determined based on the Full-Time Equivalents of staff resources assigned to the programs, as per the CAM.
15. CONTINGENCIES The Corporation has an agreement with NSPI to extend financing to certain Commercial and Industrial ("C&I") customers participating in either the Small Business Energy Solutions or C&I Custom programs. Those customers are...
AI summary The Corporation has a financing agreement with NSPI to support C&I customers in energy programs, with contingent liability for defaults. Financing costs are paid monthly to NSPI, and total outstanding financing was $2,405,768 as of December 31, 2011.