(in thousands of dollars)
Year ended March 31, 2009
The Nova Scotia Business Fund (the “Fund”) is comprised of investments approved under the direction and management of Nova Scotia Business Incorporated (“NSBI”) and investments have been transferred from the Nova Scotia Business Development Corporation Fund (“NSBDC”) on November 6, 2001. The following is a summary of the Fund as at March 31.
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| 2009 | 2008 | |||||
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| NSBI Portfolio | NSBDC Portfolio | |||||
| Gross | Less allowance for credit losses | Gross | Less allowance for credit losses | Net total | Net total | |
| Assets: | ||||||
| Loans receivable | $ 26,219 | $ 9,003 | $ 97,205 | $ 25,109 | $ 89,312 | $ 95,454 |
| Equity receivable | 19,846 | 6,825 | 12,130 | 7,189 | 17,962 | 16,206 |
| Industrial parks and malls | - | - | 2,604 | - | 2,604 | 2,604 |
| Other assets | - | - | 822 | 822 | - | - |
| Guarantees | 3,534 | 2,934 | - | - | 600 | 2,114 |
| Financing authorized but unadvanced | 6,059 | - | - | - | 6,059 | 11,300 |
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| $ 55,658 | $ 18,762 | $ 112,761 | $ 33,120 | $ 116,537 | $ 127,653 | |
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| 2009 | 2008 | |||||
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| Funding authorized and committed: | ||||||
| Fund balance authorized, net of write offs | $ 253,372 | $ 257,123 | ||||
| Less uncommitted balance of fund | 84,953 | 79,736 | ||||
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| Committed fund balance | 168,419 | 177,387 | ||||
| Less allowance for credit losses and provision for payment of guarantees | 51,882 | 49,734 | ||||
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| $ 116,537 | $ 127,653 | |||||
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