S-5, r. 3 - Regulation respecting the financial management of institutions and regional councils

Section 32 Disposition versions

2012-09-01

32. Own revenue: The revenue of a public institution or regional council that is derived from a source other than funds voted by the Legislature or revenues listed in sections 30 and 33, including gifts, shall be its own revenue. A public institution’s or regional council’s own revenue also includes the proceeds of financial incentives earned in implementing the budget as well as interest on investments and other deposits of its own revenues.

The board of directors of a public institution or regional council shall use its own revenues:

(1)  for non-recurrent expenditures only;

(2)  in a manner that does not generate additional operating costs; and

(3)  in a manner that provides personal benefits only for the beneficiaries of the institution.

The board of directors shall respect the following order of priority:

(1)  in the case of gifts, it shall allocate such revenues for the specific purposes for which the gifts were made; and

(2)  it shall apply all other revenues to projects that increase the productivity of the institution or the regional council.

O.C. 1127-84, s. 32; O.C. 546-86, s. 3.