PART VII FINANCIAL ADMINISTRATION
Multi-year budget
229 (1) Despite section 228, the City may prepare and adopt a budget covering a period of two to five years in the first year to which the budget applies or in the year immediately preceding the first year to which the budget applies.  2006, c. 32, Sched. B, s. 45. Exception (2) Despite subsection (1), if the first year of a multi-year budget immediately follows a year in which a regular election is held, the budget may only be adopted in the first year to which the budget applies.  2006, c. 32, Sched. B, s. 45. First year (3) Except as provided in subsection (1), the provisions of the budget for the first year to which the multi-year budget applies shall comply with the requirements of section 228.  2006, c. 32, Sched. B, s. 45. Other years, mandatory review of annual budget (4) For the second and each subsequent year to which a multi-year budget applies, the City shall, in the year or the immediately preceding year, (a) review the budget for that year; (b) make such changes as are required for the purpose of making the provisions of the budget for that year comply with the requirements of section 228, except clause 228 (5) (b); and (c) readopt the budget for that year and for subsequent years to which the budget applies.  2006, c. 32, Sched. B, s. 45; 2009, c. 18, Sched. 4, s. 2. Exception (5) Despite subsection (4), if a year for which a budget is being reviewed and changed is a year immediately following a year in which a regular election is held, the budget may only be readopted in the year for which the budget is being reviewed and changed.  2006, c. 32, Sched. B, s. 45. Power and duty not affected (6) Nothing in this section, (a) limits the power of the City to amend or revoke a budget adopted or readopted under this section; or (b) removes the obligation of the City to levy taxes in each year.  2006, c. 32, Sched. B, s. 45. Deemed adoption (7) The budget for the first year of a multi-year budget adopted under subsection (1) and the budget for the first year of the remaining years in a multi-year budget readopted under subsection (4) is deemed, for the purposes of this and every other Act, to be the budget or estimates adopted for the year under section 228 and, before a budget is adopted or readopted for the year under this section, the City is deemed, for the purposes of this and every other Act, not to have adopted a budget or estimates for that year under section 228.  2006, c. 32, Sched. B, s. 45. Submission of budgets of boards, etc. (8) Despite any other Act, for the purpose of adopting a multi-year budget for two or more years or readopting a multi-year budget for one or more remaining years, the City may by by-law require that a budget for the year or years of every board, commission or other body, other than a school board, for which the City is required by law to levy a tax or provide money, be submitted to the City on or before a date specified by the City and that the budget shall be in such detail and form as the by-law provides.  2006, c. 32, Sched. B, s. 45. Section Amendments with date in force (d/m/y) 2006, c. 32, Sched. B, s. 45 - 01/01/2007 2009, c. 18, Sched. 4, s. 2 - 05/06/2009 Returns and Financial Statements