Budget
16(1)Before February 28 in each year, the Board shall prepare and submit to Treasury Board a budget containing estimates of the amounts required for working capital and for capital expenditures required during the next fiscal year for the purposes of the Corporation and forecasting the estimated net profit of the Corporation for the next fiscal year.
16(2)The Secretary to Treasury Board may make a report on the budget containing such recommendations as he considers appropriate, to the Chair of the Board within thirty days of receipt thereof.
16(3)If in any fiscal year it appears that the actual revenue or expenditure of the Corporation is likely to be substantially greater or less than estimated in its budget, the Board shall submit to Treasury Board a revised budget containing the particulars required under subsection (1).
16(4)All outlays and expenditures of a capital nature in excess of $500,000 must be approved in advance by Treasury Board.
16(5)The Board shall submit to the Minister of Finance, at such times as he may prescribe, reports setting out the net profit and net profit forecasts of the Corporation and such reports shall contain such information as he may prescribe.
16(6)The Board shall submit to the Minister of Finance, at such times as the Minister may prescribe,
(a)
a strategic plan for the Corporation, and
(b)
an annual plan for the Corporation.
1979, c.49, s.1; 1984, c.44, s.16; 2002, c.7, s.5; 2013, c.17, s.9; 2016, c.28, s.86; 2016, c.37, s.123