hordruma/ontario_laws_and_regs huggingface dataset:
PART IX FINANCE
No in-year deficit
231 (1) A board shall not have an in-year deficit for a fiscal year unless, (a) a regulation made under subsection (2) authorizes the board to have an in-year deficit; or (b) the Minister approves the deficit in accordance with any regulations made under subsection (3). 2019, c. 7, Sched. 20, s. 2. Regulations, subs. (1) (a) (2) The Lieutenant Governor in Council may make regulations for the purposes of clause (1) (a) authorizing a board to have an in-year deficit and prescribing, (a) the circumstances in which a board may have an in-year deficit; (b) the maximum amount of in-year deficit a board may have; and (c) the method of determining the maximum amount of in-year deficit a board may have. 2019, c. 7, Sched. 20, s. 2. Regulations, subs. (1) (b) (3) The Lieutenant Governor in Council may make regulations for the purposes of clause (1) (b) requiring the Minister to consider factors when approving an in-year deficit and prescribing those factors. 2019, c. 7, Sched. 20, s. 2. Exception (4) Despite subsection (1), a board may have an in-year deficit if the deficit is permitted as part of a financial recovery plan under Division C.1 or if the board is subject to an order under subsection 230.3 (2) or 257.31 (2) or (3), and, if applicable, the amount of such an in-year deficit may be greater than the amount determined pursuant to a regulation made under subsection (2) of this section or the amount approved by the Minister, as the case may be. 2019, c. 7, Sched. 20, s. 2. Section Amendments with date in force (d/m/y) 1997, c. 31, s. 113 (1) - 01/01/1998 2002, c. 17, Sched. F, Table - 01/01/2003 2006, c. 10, s. 26
- 01/06/2006; 2006, c. 21, Sched. F, s. 136 (1) - 25/07/2007; 2006, c. 32, Sched. C, s. 15 (3) - 01/01/2007 2009, c. 34, Sched. I, s. 4 - 01/09/2010 2019, c. 7, Sched. 20, s. 2 - 29/05/2019 Estimates
PART IX FINANCE
Board shall adopt estimates
232 (1) Every board, before the beginning of each fiscal year and in time to comply with the date set under clause (6) (c), shall prepare and adopt estimates of its revenues and expenses for the fiscal year.  2009, c. 34, Sched. I, s. 4. Same (2) Where final financial statements are not available, the calculation of any amount for the purposes of this Act or the regulations shall be based on the most recent data available.  2009, c. 34, Sched. I, s. 4. Balanced budget (3) A board shall not adopt estimates that indicate the board would have an in-year deficit for the fiscal year.  2009, c. 34, Sched. I, s. 4. Exception (4) Despite subsection (3), a board may adopt estimates for a fiscal year that indicate the board would have an in-year deficit for the fiscal year if, (a)  a regulation is made under subsection 231 (2) and the estimated in-year deficit would be equal to or less than the maximum amount determined in accordance with that regulation; (b)  the Minister has approved a deficit under clause 231 (1) (b) and the estimated in-year deficit would be equal to or less than the amount approved by the Minister; (c) an in-year deficit is permitted as part of a financial recovery plan under Division C.1; or (d) the board is subject to an order under subsection 230.3 (2) or 257.31 (2) or (3).  2009, c. 34, Sched. I, s. 4; 2019, c. 7, Sched. 20, s. 3. Minister’s approval (5) In deciding whether to grant his or her approval for a fiscal year for the purpose of clause (4) (b), the Minister shall consider the factors set out in subsection 231 (3).  2009, c. 34, Sched. I, s. 4. Minister’s powers (6) The Minister may, (a) issue guidelines respecting the form and content of estimates required under this section; (b) require boards to comply with the guidelines; and (c) require boards to submit a copy of the estimates to the Ministry, by a date specified for the purpose by the Minister.  2009, c. 34, Sched. I, s. 4; 2010, c. 26, Sched. 5, s. 1 Same (7) Part III (Regulations) of the Legislation Act, 2006 does not apply to anything done by the Minister under subsection (6).  2009, c. 34, Sched. I, s. 4. Section Amendments with date in force (d/m/y) 1997, c. 31, s. 113 (1) - 01/01/1998 2006, c. 10, s. 27
- 01/06/2006 2009, c. 34, Sched. I, s. 4 - 01/09/2010 2010, c. 26, Sched. 5, s. 1 (1, 2) - 08/12/2010 2019, c. 7, Sched. 20, s. 3 - 29/05/2019
PART IX FINANCE
Restrictions
233 (1) A board may by resolution restrict the use of all or part of its accumulated surplus for any purpose for which it has authority to incur expenses.  2009, c. 34, Sched. I, s. 4. Same (2) Amounts restricted for a purpose under subsection (1) shall not be expended, pledged or applied to any other purpose unless the board by resolution provides for the expenditure, pledge or application.  2009, c. 34, Sched. I, s. 4. Regulations re restrictions (3) The Minister may make regulations, (a) requiring a board to restrict, in the manner and to the extent specified in the regulations, the use of any revenue for the purposes specified in the regulations; (b) prescribing the minimum and maximum amount of a board’s revenue that a board must use for a specified purpose in a school board fiscal year; (c) prescribing conditions on a board’s use of revenue for specified purposes. 2023, c. 11, Sched. 2, s. 26. Exemption (4) Amounts restricted for a purpose under a provision of a regulation made under subsection (3) shall not be expended, pledged or applied to any other purpose unless the Minister,
in writing and subject to such conditions as may be specified, exempts the board from the provision and provides that the board may use the revenue for a specified purpose.  2009, c. 34, Sched. I, s. 4. Money to be paid into bank account (5) A board may consolidate deferred revenue and any accumulated surplus restricted under subsection (1) or (3) if the consolidated account is kept in such a way that the purposes for which the amounts are restricted remain distinct and the true state of the amount attributable to each purpose can be determined.  2009, c. 34, Sched. I, s. 4. Interest (6) Interest or other earnings on a portion of deferred revenue restricted for a purpose shall be credited only to that portion.  2009, c. 34, Sched. I, s. 4. Section Amendments with date in force (d/m/y) 1997, c. 31, s. 113 (1) - 01/01/1998 2009, c. 34, Sched. I, s. 4 - 01/09/2010 2023, c. 11, Sched. 2, s. 26 - 28/07/2023
PART IX FINANCE
Restrictions following strike, lock-out
233.1 The Minister, subject to the approval of the Lieutenant Governor in Council, may make regulations providing for the calculation of expenses of a board that are not incurred in a fiscal year by reason of a strike or lock-out affecting the operations of the board.  2009, c. 34, Sched. I, s. 5. Section Amendments with date in force (d/m/y) 2009, c. 34, Sched. I, s. 5 - 15/12/2009
PART IX FINANCE
Transition
233.2 (1) All amounts held or required to be held in reserve funds by section 232 or 233 of this Act, as it read immediately before the day section 4 of Schedule I to the Ontario Tax Plan for More Jobs and Growth Act, 2009 came into force, are deemed to be amounts restricted under subsection 233 (3) for the same purposes for which the amounts were held in reserve funds.  2009, c. 34, Sched. I, s. 6. Same (2) All amounts held in education development charge reserve funds authorized or continued under this Act, as it read immediately before the day section 4 of Schedule I to the Ontario Tax Plan for More Jobs and Growth Act, 2009 came into force, are deemed to be amounts restricted under subsection 233 (3) for the same purposes for which the amounts were held in reserve funds.  2009, c. 34, Sched. I, s. 6. Same (3) All amounts held in reserve funds of boards authorized or continued under this Act, as it read immediately before the day section 4 of Schedule I to the Ontario Tax Plan for More Jobs and Growth Act, 2009 came into force, other than amounts held in a reserve fund described in subsection (1) or (2), are deemed to be amounts restricted under subsection 233 (1) for the same purposes for which the amounts were held in reserve funds.  2009, c. 34, Sched. I, s. 6; 2010, c. 26, Sched. 5, s. 2. Restrictions (4) Any restrictions that, immediately before the day section 4 of Schedule I to the Ontario Tax Plan for More Jobs and Growth Act, 2009 came into force, applied to amounts held in reserve funds described in subsection (1), (2) or (3) continue to apply to the amounts on and after that day.  2009, c. 34, Sched. I, s. 6. Section Amendments with date in force (d/m/y) 2009, c. 34, Sched. I, s. 6 - 01/09/2010 2010, c. 26, Sched. 5, s. 2 - 08/12/2010 Legislative and Municipal Grants
PART IX FINANCE
Boards to share in municipal grants
235 (1) In this section,  “municipality” includes an upper-tier municipality.  2002, c. 17, Sched. F, Table. Same (2) All grants, investments and allotments made by a municipality or by a local board of a municipality for education purposes, including but not limited to grants referred to in section 107 of the Municipal Act, 2001 or section 83 of the City of Toronto Act, 2006, as the case may be, shall be shared in accordance with subsection (3) among the boards whose area of jurisdiction is all or partly the same as the area of jurisdiction of the municipality or the local board.  1997, c. 31, s. 113 (1); 2002, c. 17, Sched. F, Table; 2006, c. 32, Sched. C, s. 15 (5). Same (3) The share of a board shall be determined by comparing the average number of pupils enrolled at the schools of the board in the area of jurisdiction of the municipality or the local board of the municipality making the grant, investment or allotment during the preceding 12 months, or during the number of months that have elapsed since the establishment of the board if it is a new board, as compared with the whole average number of pupils enrolled at the schools of all boards in the area of jurisdiction of the municipality or the local board.  1997, c. 31, s. 113 (1). Section Amendments with date in force (d/m/y) 1997, c. 31, s. 113 (1) - 01/01/1998 2002, c. 17, Sched. F, Table - 01/01/2003 2006, c. 32, Sched. C, s. 15 (5) - 01/01/2007 235.1-235.3 Repealed:  1997, c. 31, s. 113 (1) Section Amendments with date in force (d/m/y) 1997, c. 31, s. 113 (1) - 01/01/1998 Board Support Notice re status as supporter
PART IX FINANCE
Notice re status as supporter
236 (1) An individual who is an owner or tenant of residential property in the area of jurisdiction of any board or outside the area of jurisdiction of all boards but within a municipality, is entitled, on application under section 16 of the Assessment Act to the assessment commissioner for the area in which the property is located, to have his or her name included or altered in the assessment roll as an English-language public board supporter.  1997, c. 31, s. 113 (1). English-language Roman Catholic board (2) An individual who is a Roman Catholic and an owner or tenant of residential property in the area of jurisdiction of an English-language Roman Catholic board is entitled, on application under section 16 of the Assessment Act to the assessment commissioner for the area in which the property is located, to have his or her name included or altered in the assessment roll as an English-language Roman Catholic board supporter.  1997, c. 31, s. 113 (1). French-language public district school board (3) An individual who is a French-language rights holder and an owner or tenant of residential property in the area of jurisdiction of a French-language public district school board is entitled, on application under section 16 of the Assessment Act to the assessment commissioner for the area in which the property is located, to have his or her name included or altered in the assessment roll as a French-language public district school board supporter.  1997, c. 31, s. 113 (1). French-language separate district school board (4) An individual who is a Roman Catholic, a French-language rights-holder and an owner or tenant of residential property in the area of jurisdiction of a French-language separate district school board is entitled, on application under section 16 of the Assessment Act to the assessment commissioner for the area in which the property is located, to have his or her name included or altered in the assessment roll as a French-language separate district school board supporter.  1997, c. 31, s. 113 (1). Protestant separate school board (5) An individual who is a Protestant and who occupies residential property as owner or tenant in a municipality in which a Protestant separate school board is established, is entitled, on application under section 16 of the Assessment Act to the assessment commissioner for the area in which the property is located, to have his or her name included or altered in the assessment roll as a Protestant separate school board supporter.  1997, c. 31, s. 113 (1). Section Amendments with date in force (d/m/y) 1997, c. 31, s. 113 (1) - 01/01/1998
PART IX FINANCE
School support, designated ratepayers
238 (1) In this section, “common jurisdictional area”, in respect of two or more boards, means the area that is within the area of jurisdiction of both or all of those boards; (“territoire commun de compétence”) “designated ratepayer” means, (a) the Crown in right of Canada or a province, (b) a corporation without share capital or corporation sole that is an agency, board or commission of the Crown in right of Canada or a province, (c) a municipal corporation, (d) a corporation without share capital that is a local board as defined in the Municipal Affairs Act, (e) a conservation authority established by or under the
Conservation Authorities Act or a predecessor of that Act, or (f) a public corporation; (“contribuable désigné”) “public corporation” means, (a) a body corporate that is, by reason of its shares, a reporting issuer within the meaning of the Securities Act or that has, by reason of its shares, a status comparable to a reporting issuer under the law of any other jurisdiction, (b) a body corporate that issues shares that are traded on any market if the prices at which they are traded on that market are regularly published in a newspaper or business or financial publication of general and regular paid circulation, or (c) a body corporate that is, within the meaning of subsections 1 (1) and (2), clause 1 (3) (a) and subsections 1 (4), (5) and (6) of the Securities Act, controlled by or is a subsidiary of a body corporate or two or more bodies corporate described in clause (a) or (b) and, for the purposes of this clause, the expression “more than 50 per cent of the votes” in the second and third lines of clause 1 (3) (a) of the Securities Act shall be deemed to read “50 per cent or more of the votes”. (“société ouverte”)  1997, c. 31, s. 113 (1). Distribution of taxes (2) The rates levied under Division B on the property of a designated ratepayer shall be distributed and paid in accordance with sections 257.8 and 257.9.  1997, c. 31, s. 113 (1). Section Amendments with date in force (d/m/y) 1997, c. 31, s. 113 (1) - 01/01/1998
PART IX FINANCE
Tenant support re distribution of amounts levied
239 (1) Where residential property is occupied by a tenant, the amounts levied under section 257.7 in respect of that property shall be distributed to the board of which the tenant is a supporter.  1997, c. 31, s. 113 (1). If tenant is corporation or partnership (2) If a tenant referred to in subsection (1) is a corporation or partnership referred to in section 237, for the purposes of subsection (1), the tenant shall be deemed to be a supporter of each board indicated in the notice given by the tenant under subsection 237 (12) or to be a supporter of the English-language public board as provided for by that subsection, and the amounts levied under section 257.7 in respect of the property occupied by the tenant shall be distributed to the boards of which the tenant is deemed to be a supporter in accordance with the notice and with subsection 237 (12).  1997, c. 31, s. 113 (1). If tenant is designated ratepayer (3) If a tenant referred to in subsection (1) is a designated ratepayer as defined in subsection 238 (1), for the purposes of subsection (1), the tenant shall be deemed to be a supporter of each board in whose jurisdiction the property occupied by the tenant is located and the amounts levied under section 257.7 in respect of that property shall be distributed to each of those boards in the same manner as the amounts levied on the business property of a designated ratepayer are distributed under section 257.8.  1997, c. 31, s. 113 (1). Amount to be levied if multiple tenants (4) If a parcel of residential property is occupied by more than one tenant, the amounts levied in respect of the property occupied by each tenant shall be determined as though the assessed value of the property occupied by each tenant were the assessment attributable to that tenant under subsection 14 (3) of the Assessment Act.  1997, c. 31, s. 113 (1). Agreement between owner and tenant (5) Where the person who occupies residential property is a tenant, no agreement between the owner and the tenant as to the application of taxes for school purposes as between themselves alters or affects subsections (1), (2), (3) or (4).  1997, c. 31, s. 113 (1). Conflict (6) Subsections (1), (2), (3) and (4) prevail in the event of a conflict between those subsections and section 237, subsection 238 (2) or section 257.9.  1997, c. 31, s. 113 (1). Section Amendments with date in force (d/m/y) 1997, c. 31, s. 113 (1) - 01/01/1998 School Rate:  Certain Circumstances
PART IX FINANCE
Investment powers
241 (1) A board may, subject to any rules prescribed under subsection (6), invest in securities prescribed under subsection (6) any money of the board that is not immediately required by the board.  2009, c. 34, Sched. I, s. 9 (1). (2)-(5) Repealed:  2009, c. 34, Sched. I, s. 9 (1). Regulations (6) The Lieutenant Governor in Council may make regulations, (a) prescribing rules for the purposes of subsection (1); (b) prescribing securities or classes of securities for the purposes of subsection (1); (c) providing that a board does not have the power under this section to invest in the securities or classes of securities specified in the regulation.  1997, c. 31, s. 113 (1); 2009, c. 34, Sched. I, s. 9 (2, 3). General or particular (7) A regulation under subsection (6) may be general or particular in its application and may be made to apply to any class of board and for the purpose a class may be defined with respect to any attribute and may be defined to consist of or to exclude any specified member of the class, whether or not with the same attributes.  1997, c. 31, s. 113 (1). (8)-(9) Repealed:  2006, c. 10, s. 29. Definitions (10) In this section, “invest” includes purchase, acquire, hold and enter into; (“placer”) “securities” includes financial agreements, investments and evidences of indebtedness. (“valeurs mobilières”)  1997, c. 31, s. 113 (1). Section Amendments with date in force (d/m/y) 2006, c. 10, s. 29
- 01/06/2006 2009, c. 34, Sched. I, s. 9 (1-3) - 01/09/2010
PART IX FINANCE
Debt, financial obligation and liability limits
242 (1) The Lieutenant Governor in Council may make regulations providing for debt, financial obligation and liability limits for boards or classes of boards including, (a) defining the types of debt, financial obligation or liability to which the limits applies and prescribing the matters to be taken into account in calculating the limits; (b) prescribing the amounts to which the debts, financial obligations and liabilities under clause (a) shall be limited; (c) requiring a board to apply for the approval of the Minister for each specific work or class of works, the amount of debt for which, when added to the total amount of any outstanding debt, financial obligation or liability under clause (a), causes a limit under clause (b) to be exceeded; (d) prescribing rules, procedures and fees for the determination of the debt, financial obligation and liability limits of a board; (e) establishing conditions that must be met by a board before undertaking any, or any class of, debt, financial obligation or liability.  1997, c. 31, s. 113 (1). Approval to exceed limit (2) A board shall not incur a debt, financial obligation or liability that would cause it to exceed a limit prescribed under clause (1) (b) unless it first obtains the approval of the Minister.  1997, c. 31, s. 113 (1). Risk management activities (3) The Lieutenant Governor in Council may make regulations allowing a board to engage in risk management activities as defined in the regulation in the circumstances specified in the regulation in order to hedge the risks specified in the regulation under or in connection with any debt instrument, financial obligation or liability of a board.  1997, c. 31, s. 113 (1). General or particular (4) A regulation made under this section can be general or particular.  1997, c. 31, s. 113 (1). Classes (5) A class may be defined with respect to any attribute and may be defined to consist of or to exclude any specified member of the class, whether or not with the same attributes.  1997, c. 31, s. 113 (1). Section Amendments with date in force (d/m/y) 1997, c. 31, s. 113 (1) - 01/01/1998
PART IX FINANCE
Debentures issued by boards
242.1 (1) This Act, as it read immediately before the day the Student Achievement and School Board Governance Act, 2009 received Royal Assent, continues to apply with respect to debentures issued by boards before that day.  2009, c. 25, s. 28. Transition (2) Subsection (1) does not prevent regulations made under subsection 241 (6) or clause 247 (3) (b) after the day the Student Achievement and School Board Governance Act, 2009
receives Royal Assent from applying to investments held by sinking funds or retirement funds immediately before that day.  2009, c. 25, s. 28. Section Amendments with date in force (d/m/y) 2009, c. 25, s. 28 - 5/12/2009
PART IX FINANCE
Current borrowing
243 (1) Despite the provisions of any Act, a board may by resolution authorize the treasurer and the chair or vice-chair to borrow from time to time the sums that the board considers necessary to meet the current expenditures of the board until the current revenue has been received.  1997, c. 31, s. 113 (1). Debt charges (2) A board may borrow the sums that the board considers necessary to meet debt charges payable in any fiscal year until cash has been received.  1997, c. 31, s. 113 (1); 2009, c. 34, Sched. I, s. 10 (1). Limit (3) The amounts that a board may borrow at any one time for the purposes mentioned in subsections (1) and (2), together with the total of any similar borrowings that have not been repaid and any accrued interest on those borrowings, shall not exceed the unreceived balance of the estimated current revenues of the board.  1997, c. 31, s. 113 (1); 2009, c. 34, Sched. I, s. 10 (2). (4) Repealed:  2006, c. 10, s. 30. Exception re certain boards (5) A board may borrow more than the amount authorized to be borrowed under the other provisions of this section if, at the time of the borrowing, (a) the board is subject to a financial recovery plan approved by the Minister under subsection 257.29.1 (2), and the plan permits the borrowing; or (b) the administration of the affairs of the board has been vested in the Ministry by an order under subsection 230.3 (2) or 257.31 (2) or (3), and the Minister approves the borrowing.  2009, c. 34, Sched. I, s. 10 (3). (6) Repealed:  2009, c. 34, Sched. I, s. 10 (3). Approval of Minister (7) The Minister may make his or her approval under subsection (6) subject to any terms that he or she considers appropriate.  1997, c. 31, s. 113 (1). (8) Repealed:  2006, c. 10, s. 30. Definition (9) In this section, “current revenue”, “estimated revenues” and “revenues” do not include revenue from education development charges.  1997, c. 31, s. 113 (1). Section Amendments with date in force (d/m/y) 1997, c. 31, s. 113 (1) - 01/01/1998 2006, c. 10, s. 30
- 01/06/2006 2009, c. 34, Sched. I, s. 10 (1-3) - 01/09/2010