111.4(1)A municipality that operates a generation facility shall annually, on or before the date fixed pursuant to subsection 87(2), submit to the Minister the budget with respect to its operation of the facility for that year.
111.4(2)When operating a generation facility, a municipality shall produce, with respect to such operation,
(a)
an annually balanced budget, or
(b)
a quadrennially balanced budget.
111.4(3)If the proceeds from the operation are insufficient to produce a balanced budget as provided for under subsection (2), the municipality may make a charge against other operating funds of the municipality at the discretion of the council.
111.4(4)When in the operation of a generation facility a municipality has a deficit at the end of the fiscal year,
(a)
it shall cause such deficit to be debited against the budget for that activity for the second next ensuing year, or
(b)
it shall spread the deficit over a four year period commencing with the second next ensuing year.
111.4(5)When in the operation of a generation facility the municipality has a surplus at the end of the fiscal year,
(a)
it shall cause such surplus to be credited to the budget for that activity for the second next ensuing year, or
(b)
it shall spread the surplus over a four year period commencing with the second next ensuing year.
111.4(6)A municipality may transfer some or all of any audited surplus of the generation facility fund to other operating funds of the municipality at the discretion of the council, commencing with the second next ensuing year.