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C-29 - General and Vocational Colleges Act

Section 60
Disposition versions

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60. The governing board shall adopt the annual budget estimates of the constituent college and submit them to the regional college for approval. The governing board shall forward to the regional college any other budget estimates the college requests.
The budgetary estimates shall maintain a balance between expenditures, on the one hand, and the financial resources allocated to the constituent college by the regional college and the constituent college’s own revenue, on the other.
The approved budget of the constituent college constitutes separate appropriations within the budget of the regional college and expenditures for the constituent college shall be charged to such appropriations.
In the event that the constituent college closes, its surplus or deficit and its funds, if any, shall be transferred to the regional college.
1997, c. 87, s. 26; 2009, c. 38, s. 17.
60. The governing board shall adopt the annual budget estimates of the constituent college and submit them to the regional college for approval.
The budgetary estimates shall maintain a balance between expenditures, on the one hand, and the financial resources allocated to the constituent college by the regional college and the constituent college’s own revenue, on the other.
The approved budget of the constituent college constitutes separate appropriations within the budget of the regional college and expenditures for the constituent college shall be charged to such appropriations.
In the event that the constituent college closes, its surplus or deficit and its funds, if any, shall be transferred to the regional college.
1997, c. 87, s. 26.
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