HALIFAX – An audit of the money-losing ferry service between Yarmouth, N.S., and Portland, Maine, supports the company’s operating costs.
But the eight-page report by KPMG provides no breakdown of the costs of Nova Star’s transactions.
KPMG said it examined 1,037 transactions worth more than $25 million, but Nova Star was unable to provide supporting documentation for 35 of those transactions worth more than $79,000.
When the provincial government announced the audit in October, it said it would audit costs, look for savings and advise on a plan for future years.
The government gave the company an additional $5 million last fall on top of a $21-million loan that was spent in the first two months of the Nova Star’s inaugural sailing season.
That loan was supposed to last seven years.
Ferry headed south
Nova Star Cruises announced Thursday the Nova Star ferry would depart Nova Scotia for Charleston, South Carolina for temporary berthing.
CEO Mark Amundsen said the warmer climate will reduce costs for the remainder of the off-season and ensure the ferry is ready if the company can secure alternate work for it.
The ferry is expected to arrive in Charleston on Jan. 19 and will return to Nova Scotia sometime prior to the 2015 sailing season.
With Global News files
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