Commitments

(a) The Corporation has approved financing of $9,715 (2006 - $1,563) that is undisbursed at year-end.

(b) The Corporation administers strategic investments on behalf of the Province of Nova Scotia that permit approved businesses to receive a percentage of payroll taxes paid as a rebate. Expenses incurred by the Corporation are match-funded by the Province of Nova Scotia in the form of a Strategic Investment Grant. As at March 31, 2007, transactions were approved with maximum annual payments over the next seven years of $109.7 million (2006 - $99.6 million) as shown below.

2008$ 22,129
200921,737
201023,036
201118,136
201215,886
20135,322
20143,465
 $ 109,711

(c) During the year, the Corporation transferred the Debert sewage plants to the Municipality of Colchester. Prior to the transfer, capital investments of approximately $3 million were made to upgrade the facilities to meet environmental standards. It is expected that the related land will transfer to the Municipality in 2008 upon the resolution of remaining environmental and land claim issues.