Acts and Regulations

2017, c.18 - Local Governance Act

Section 114
Disposition versions

Full text
Budget for generation facility
114(1)A local government that operates a generation facility shall annually, on or before the date set in accordance with 99(2), submit to the Minister the budget with respect to its operation of the facility for that year.
114(2)When operating a generation facility, a local government shall produce an annually balanced budget with respect to the operation.
114(3)If the proceeds from the operation are insufficient to produce a balanced budget as provided for under subsection (2), the local government may make a charge against other operating funds of the local government at the discretion of the council.
114(4)When in the operation of a generation facility a local government has a deficit at the end of its fiscal year,
(a) the deficit shall be debited against the budget for that activity for the second year following that fiscal year, or
(b) the deficit shall be spread over a four-year period commencing in the second year following that fiscal year.
114(5)When in the operation of a generation facility the local government has a surplus at the end of its fiscal year,
(a) the surplus shall be credited to the budget for that activity for the second year following that fiscal year, or
(b) the surplus shall be spread over a four-year period commencing in the second year following that fiscal year.
114(6)If no prior year deficits remain unfunded, a local government may transfer some or all of an audited surplus of the generation facility fund to other operating funds of the local government at the discretion of the council, commencing in the second year following that fiscal year.
Budget for generation facility
114(1)A local government that operates a generation facility shall annually, on or before the date set in accordance with 99(2), submit to the Minister the budget with respect to its operation of the facility for that year.
114(2)When operating a generation facility, a local government shall produce an annually balanced budget with respect to the operation.
114(3)If the proceeds from the operation are insufficient to produce a balanced budget as provided for under subsection (2), the local government may make a charge against other operating funds of the local government at the discretion of the council.
114(4)When in the operation of a generation facility a local government has a deficit at the end of its fiscal year,
(a) the deficit shall be debited against the budget for that activity for the second year following that fiscal year, or
(b) the deficit shall be spread over a four-year period commencing in the second year following that fiscal year.
114(5)When in the operation of a generation facility the local government has a surplus at the end of its fiscal year,
(a) the surplus shall be credited to the budget for that activity for the second year following that fiscal year, or
(b) the surplus shall be spread over a four-year period commencing in the second year following that fiscal year.
114(6)If no prior year deficits remain unfunded, a local government may transfer some or all of an audited surplus of the generation facility fund to other operating funds of the local government at the discretion of the council, commencing in the second year following that fiscal year.