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E-12.00001 - Balanced Budget Act

Section 2
Disposition versions

Full text
2. The budget balance for a fiscal year is the difference between the revenue and the expenditure established in accordance with the Government’s accounting policies.
It does not include
(1)  the revenue or the expenditure recorded in the Generations Fund established by the Act to reduce the debt and establish the Generations Fund (chapter R-2.2.0.1);
(2)  the amounts relating to the application by a government enterprise of a new CPA Canada standard during a period prior to the changeover date proposed by CPA Canada.
1996, c. 55, s. 2; 2001, c. 56, s. 12; 2006, c. 24, s. 14; 2009, c. 38, s. 1; I.N. 2016-09-01.
2. The budget balance for a fiscal year is the difference between the revenue and the expenditure established in accordance with the Government’s accounting policies.
It does not include
(1)  the revenue or the expenditure recorded in the Generations Fund established by the Act to reduce the debt and establish the Generations Fund (chapter R-2.2.0.1);
(2)  the amounts relating to the application by a government enterprise of a new Canadian Institute of Chartered Accountants standard during a period prior to the changeover date proposed by the Institute.
1996, c. 55, s. 2; 2001, c. 56, s. 12; 2006, c. 24, s. 14; 2009, c. 38, s. 1.
2. In this Act,
“budgetary deficit” means the difference between expenditure and revenue if expenditure exceeds revenue, as adjusted after deducting the reserve fund sums that have been used and adding the sums appropriated to the budgetary reserve fund established under the Act to establish a budgetary surplus reserve fund (chapter R-25.1);
“budgetary surplus” means the difference between revenue and expenditure if revenue exceeds expenditure, as adjusted after deducting the sums appropriated to the reserve fund and adding the reserve fund sums that have been used;
“expenditure” means expenditure recorded in the consolidated financial statements of the Government in accordance with the accounting policies of the Government, except expenditure relating to the Generations Fund referred to in the Act to reduce the debt and establish the Generations Fund (chapter R-2.2.0.1);
“overrun” means any sums lacking for achievement of the budgetary balance or surplus objectives determined by this Act or by an offsetting financial plan for a fiscal year;
“revenue” means revenue recorded in the consolidated financial statements of the Government in accordance with the accounting policies of the Government, except revenue relating to the Generations Fund;
“surplus” means any sums exceeding the budgetary balance or surplus objectives determined by this Act or by an offsetting financial plan for a fiscal year.
1996, c. 55, s. 2; 2001, c. 56, s. 12; 2006, c. 24, s. 14.
2. In this Act,
“budgetary deficit” means the difference between expenditure and revenue if expenditure exceeds revenue, as adjusted after deducting the reserve fund sums that have been used and adding the sums appropriated to the budgetary reserve fund established under the Act to establish a budgetary surplus reserve fund (chapter R-25.1);
“budgetary surplus” means the difference between revenue and expenditure if revenue exceeds expenditure, as adjusted after deducting the sums appropriated to the reserve fund and adding the reserve fund sums that have been used;
“expenditure” means expenditure recorded in the financial statements of the Government in accordance with the accounting policies of the Government;
“overrun” means any sums lacking for achievement of the budgetary balance or surplus objectives determined by this Act or by an offsetting financial plan for a fiscal year;
“revenue” means revenue recorded in the financial statements of the Government in accordance with the accounting policies of the Government;
“surplus” means any sums exceeding the budgetary balance or surplus objectives determined by this Act or by an offsetting financial plan for a fiscal year.
1996, c. 55, s. 2; 2001, c. 56, s. 12.
2. In this Act,
“budgetary surplus” means the difference between revenue and expenditure if revenue exceeds expenditure;
“deficit” means the difference between expenditure and revenue if expenditure exceeds revenue;
“expenditure” means expenditure recorded in the financial statements of the Government in accordance with the accounting policies of the Government;
“overrun” means any sums lacking for achievement of the deficit level, budgetary balance or surplus objectives determined by this Act or by an offsetting financial plan for a fiscal year;
“revenue” means revenue recorded in the financial statements of the Government in accordance with the accounting policies of the Government;
“surplus” means any sums in excess of the sums needed to achieve the deficit level, budgetary balance or surplus objectives determined by this Act or by an offsetting financial plan for a fiscal year.
1996, c. 55, s. 2.
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