The Nunavut Housing Corporation’s funding will run out at the end of March 2014, sparking concerns that the corporation won’t be able to deliver services at its current level.

Alain Barriault is the president of the corporation. He said the funding, which comes from the Canadian Mortgage and Housing Corporation (CMHC), will run out next year for provinces, as well.

"But in their cases, public housing may take up five per cent of their overall housing stock, not 50 per cent as is our case. So we're feeling the crunch a little bit more than many of our counterparts," said Barriault.

Barriault said the funding from CMHC has decreased each year as per the agreement. He said provinces and territories are lobbying to get more funding.

Barriault says the housing corporation has to find ways to reduce costs so the money can go further. He said they are working towards a territorial housing action plan.

The issue was front and centre in the legislative assembly on Friday, as MLAs were reviewing the corporation’s budget for the coming year.

"We have a stock of houses that are aging and every year the cost to repair them is going up. At the same time on the other side of the scale, CMHC is cutting back on its assistance on maintaining and keeping those houses livable," said Quttikuq MLA Ron Elliott.

The three territorial housing presidents will meet in Whitehorse at the end of the month.