PART VII FINANCIAL ADMINISTRATION
289.
289 (1) For each year, an upper-tier municipality shall, in the year or the immediately preceding year, prepare and adopt a budget including estimates of all sums required during the year for the purposes of the upper-tier municipality, including, (a)  amounts sufficient to pay all debts of the upper-tier municipality falling due within the year; (b)  amounts required to be raised for sinking funds or retirement funds; (c)  amounts in respect of debenture debt of lower-tier municipalities for the payment of which the upper-tier municipality is liable; and (d)  amounts required by law to be provided by the upper-tier municipality for any of its local boards, excluding school boards.  2001, c. 25, s. 289 (1); 2006, c. 32, Sched. A, s. 119 (1). Exception (1.1) Despite subsection (1), a budget for a year immediately following a year in which a regular election is held, may only be adopted in the year to which the budget applies.  2006, c. 32, Sched. A, s. 119 (2). Detail and form (2) The budget shall, in such detail and form as the Minister may require, set out the following amounts: 1.  The estimated revenues, including the amount the municipality intends to raise on all the rateable property in the municipality by its general upper-tier levy and the amount it intends to raise on less than all the rateable property in the municipality by a special upper-tier levy under section 311. 2.  The estimated portion of the estimated revenues described in paragraph 1, if any, to be paid into the municipality’s reserve, sinking and retirement funds. 3.  The estimated expenses, subject to any regulation made under clause 292 (2) (a). 4.  The estimated portion of the estimated expenses described in paragraph 3, if any, to be paid out of the municipality’s reserve, sinking and retirement funds.  2009, c. 18, Sched. 18, s. 1. Reserve fund adjustment (3) The total calculated under paragraph 1 shall be at least equal to the total calculated under paragraph 2: 1.  The amount described in paragraph 1 of subsection (2), added to the amount described in paragraph 4 of subsection (2). 2.  The amount described in paragraph 2 of subsection (2), added to the amount described in paragraph 3 of subsection (2).  2009, c. 18, Sched. 18, s. 1. Allowance (4) In preparing the budget for a year, the upper-tier municipality, (a)  shall not include in the estimated revenues described in paragraph 1 of subsection (2) the estimated proceeds of any borrowing during the year; (b)  shall treat as estimated revenues any surplus of any previous year that resulted because, (i)  revenues for that year were greater than the amount described in paragraph 1 of subsection (2) for that year, or (ii)  expenses for that year were less than the amount described in paragraph 3 of subsection (2) for that year; (c)  shall provide for any deficit of any previous year that resulted because, (i)  revenues for that year were less than the amount calculated by deducting for that year the amount described in paragraph 2 of subsection (2) from the amount described in paragraph 1 of subsection (2), or (ii)  expenses were incurred by the municipality that were not in the budget for that year and were not paid for that year from a reserve, sinking or retirement fund; (d)  shall provide for taxes and other revenues that in the opinion of the treasurer are uncollectible and for which provision has not been previously made; (e)  may provide for taxes and other revenues that it is estimated will not be collected during the year; and (f)  may provide for such reserve funds as the municipality considers necessary.  2009, c. 18, Sched. 18, s. 1. (5) Repealed: 2017, c. 10, Sched. 1, s. 36. Application of provisions (6) Section 34 of the
Assessment Act and section 353 of this Act apply with necessary modifications to the upper-tier municipality.  2009, c. 18, Sched. 18, s. 1. Yearly budget from boards, etc. (7) Despite any other Act, for the purpose of preparing and adopting its budget for a year, the upper-tier municipality may by by-law require that the year’s budget of every board, commission or other body, for which the municipality is required by law to provide money, be submitted to the municipality on or before a date specified by the municipality and that the budget shall be in such detail and form as the by-law provides.  2009, c. 18, Sched. 18, s. 1. Legislation Act, 2006 (8) Part III (Regulations) of the Legislation Act, 2006 does not apply to a requirement of the Minister under subsection (2).  2009, c. 18, Sched. 18, s. 1. Definition (9) In this section, “reserve fund” includes a reserve.  2009, c. 18, Sched. 18, s. 1. Section Amendments with date in force (d/m/y) 2006, c. 21, Sched. F, s. 120 (6) - 25/07/2007; 2006, c. 32, Sched. A, s. 119 (1-4) - 01/01/2007 2009, c. 18, Sched. 18, s. 1 - 01/01/2009 2017, c. 10, Sched. 1, s. 36 - 30/05/2017