Amount for full day junior kindergarten and kindergarten accommodation
 54.1 (1) Subject to subsection (2), the amount for the board for the fiscal year for full day junior kindergarten and kindergarten accommodation is determined as follows: 1. For each multi-year capital lease entered into in the fiscal year solely for the purpose of providing accommodation for full day junior kindergarten and kindergarten, determine the total amount payable, including interest, over the term of the lease. 2. Total the amounts determined under paragraph 1. 3. Take the lesser of the amount determined under paragraph 2 and the amount set out in Column 2 of Table 25.1 opposite the name of the board. 4. Subtract the amount determined under paragraph 3 from the amount set out in Column 2 of Table 25.1 opposite the name of the board. 5. Determine the total costs incurred by the board in the fiscal year, and reported by August 31, 2010, for temporary accommodations needed for the provision of full day junior kindergarten and kindergarten, but not including, i. amounts determined under paragraph 1, and ii. costs incurred by the board for the relocation or installation of temporary accommodation that was owned by the board on August 31, 2009. 6. Determine the total construction costs incurred by the board in the fiscal year, and reported by August 31, 2010, for full day junior kindergarten and kindergarten accommodation. 7. Determine the total costs incurred by the board in the fiscal year, and reported by August 31, 2010, for the acquisition of furniture or equipment described in subsection (3) needed for full day junior kindergarten and kindergarten accommodation. 8. Total the amounts determined under paragraphs 5, 6 and 7. 9. Take the lesser of the amounts determined under paragraphs 4 and 8. 10. Total the amounts determined under paragraphs 3 and 9. 11. Determine the portion of the amount determined under paragraph 9 in respect of which the board incurred short-term interest in the fiscal year. 12. Take the lesser of, i. the amount of short-term interest incurred by the board in the fiscal year in respect of the portion determined under paragraph 11, and ii. the amount of short-term interest that the board would incur in the fiscal year in respect of the portion determined under paragraph 11 if each amount borrowed had been subject to an annual interest rate of not more than 0.75 per cent greater than the annual interest rate for three-month bankers’ acceptances applicable at the time of borrowing. 13. Determine the portion of the amount determined under paragraph 9 in respect of which the board did not incur interest in the fiscal year. 14. Determine the amount of short-term interest that the board would incur in the fiscal year in respect of the portion determined under paragraph 13 if each amount making up the portion had been borrowed on the date that it was withdrawn from reserves of the board, at an annual interest rate of 1 per cent. 15. Total the amounts, if any, determined under paragraphs 12 and 14. 16. Total the amounts determined under paragraphs 10 and 15.  O. Reg. 335/10, s. 3 (1). (2) The amount for full day junior kindergarten and kindergarten accommodation shall be determined under subsection (1) only in respect of full day junior kindergartens and kindergartens that the board is required to operate in the 2010-2011 school year and subsequent years by Ontario Regulation 224/10 (Full Day Junior Kindergarten and Kindergarten) made under the Act.  O. Reg. 247/10, s. 3. (3) The furniture and equipment referred to in paragraph 7 of subsection (1) are any furniture or equipment that the board would be required to capitalize under the terms of the document entitled “School Board and School Authority Tangible Capital Assets: Provincial Accounting Policies and Implementation Guide”, which is available as described in subsection 3 (9).  O. Reg. 247/10, s. 3; O. Reg. 335/10, s. 3 (2).