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C-19 - Cities and Towns Act

Section 468.45
Disposition versions

Full text
468.45. Any deficit in a fiscal period must be entered under expenditures in the budget of the following fiscal period.
Any surplus may, subject to the rules established in an agreement entered into under section 13.1 of the Act respecting municipal industrial immovables (chapter I‐0.1)
(1)  be entered under revenue in the budget of the following fiscal period,
(2)  be paid to the municipalities in whose territory the management board has jurisdiction, in the proportion determined under section 468.5,
(3)  be used for any purpose within the jurisdiction of the management board as determined by the board of directors by a majority of two-thirds of the votes cast.
1979, c. 83, s. 5; 1980, c. 11, s. 39; 1996, c. 2, s. 209; 1996, c. 27, s. 25; 1999, c. 59, s. 2.
468.45. Any deficit in a fiscal period must be entered under expenditures in the budget of the following fiscal period.
Any surplus may, subject to the rules established in an agreement entered into under section 13.1 of the Act respecting municipal industrial immovables (chapter I-0.1)
(1)  be entered under revenue in the budget of the following fiscal period, or
(2)  be paid to the municipalities in whose territory the management board has jurisdiction, in the proportion determined under section 468.5.
1979, c. 83, s. 5; 1980, c. 11, s. 39; 1996, c. 2, s. 209; 1996, c. 27, s. 25.
468.45. Any deficit in a fiscal period must be entered under expenditures in the budget of the following fiscal period.
Any surplus may
(1)  be entered under revenue in the budget of the following fiscal period, or
(2)  be paid to the municipalities in whose territory the management board has jurisdiction, in the proportion determined under section 468.5.
1979, c. 83, s. 5; 1980, c. 11, s. 39; 1996, c. 2, s. 209.
468.45. Any deficit in a fiscal period must be entered under expenditures in the budget of the following fiscal period.
Any surplus may
(1)  be entered under revenue in the budget of the following fiscal period, or
(2)  be paid to the municipal corporations in whose territory the management board has jurisdiction, in the proportion determined under section 468.5.
1979, c. 83, s. 5; 1980, c. 11, s. 39.
468.45. Any deficit in a fiscal period must be entered under expenditures in the budget of the following fiscal period.
Any surplus may
(1)  be entered under revenue in the budget of the following fiscal period, or
(2)  be paid to the municipal corporations in whose territory the management board has jurisdiction, in the proportion determined under section 468.6.
1979, c. 83, s. 5.
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