1997 Revenue for an Old Board
12. (1) The 1997 revenue for an old board is the sum of, (a) the taxes levied under the Act for the purposes of the old board in 1997; (b) amounts that are receivable by the old board in 1997 under subsection 159 (22) of the Municipal Act, as it read immediately before January 1, 1998; (c) payments in lieu of taxes, as defined in section 1 of Ontario Regulation 78/97, that are receivable by the old board in 1997; (d) the total of 1996 taxes refunded by the old board as a result of withdrawal of employee services or lock-out of employees, as reported in the audited 1997 financial statements of the old board at code point 0246; (e) the lesser of, (i) the old board’s over-requisitions and reserve transfers, as determined under subsection (2), and (ii) the amount set out in Table 1 opposite the old board; (f) the supplementary taxes of the old board as determined for revenue guarantee purposes under subsection (4); (g) the grant payable to the old board under Ontario Regulation 78/97, not including amounts payable under section 50 of that Regulation; less the sum of, (h) the amount, if any, by which the sum of the amounts calculated as grants for the old board for 1997 under sections 8 to 45 of Ontario Regulation 78/97 is less than zero; and (i) the tax write-off for the old board as determined for revenue guarantee purposes under subsection (6). O. Reg. 285/98, s. 12 (1). (2) For the purposes of subclause (1) (e) (i), the amount of an old board’s over-requisitions and reserve transfers is the old board’s 1996 over-requisition, as reported in the audited 1997 financial statements of the old board at code point 0244, adjusted as follows: 1. Where the estimates adopted by the old board in 1997 report a net amount transferred from its reserve for working funds, add that net amount to the 1996 over-requisition. 2. Where the estimates adopted by the old board in 1997 report a net amount transferred to its reserve for working funds, deduct that net amount from the 1996 over-requisition. O. Reg. 285/98, s. 12 (2). (3) For the purposes of subclause (1) (e) (i), if the amount obtained under subsection (2) is a negative amount, the amount shall be deemed to be zero. O. Reg. 285/98, s. 12 (3). (4) For the purposes of clause (1) (f), the supplementary taxes of an old board for revenue guarantee purposes is the lesser of, (a) the taxes receivable in 1997 by the old board under section 35 of the Assessment Act; and (b) the greater of, (i) the amount included in the 1997 estimates of the old board in respect of the taxes receivable in 1997 by it under section 35 of the Assessment Act, and (ii) the average of the amounts received by the old board in 1992, 1993, 1994, 1995 and 1996 under section 35 of the Assessment Act. O. Reg. 285/98, s. 12 (4). (5) Calculations under clauses (1) (g) and (h) shall be made as if there was no withdrawal of employee services and no lock-out of employees during 1997. O. Reg. 285/98, s. 12 (5). (6) For the purposes of clause (1) (i), the tax write-off for an old board for revenue guarantee purposes is the lesser of, (a) the amounts charged to the old board in 1997 by a municipal council under section 421 of the Municipal Act, not including taxes receivable in 1997 by the old board to the extent that such taxes were cancelled or reduced as a result of a resolution of the old board; and (b) the greater of, (i) the amounts included in the 1997 estimates of the old board in respect of the amounts chargeable in 1997 to it by a municipal council under section 421 of the Municipal Act, not including taxes receivable in 1997 by the old board to the extent that such taxes were cancelled or reduced as a result of a resolution of the old board, and (ii) the average of the amounts charged to the old board in 1992, 1993, 1994, 1995 and 1996 by a municipal council under section 421 of the Municipal Act, not including taxes receivable in those years by the old board to the extent that such taxes were cancelled or reduced as a result of a resolution of the old board. O. Reg. 285/98, s. 12 (6). (7) For the purposes of subclauses (4) (b) (ii) and (6) (b) (ii), if the amount received or charged, as the case may be, in any one of the five years exceeds the five-year average by 75 per cent or more, the average shall be calculated excluding that year. O. Reg. 285/98, s. 12 (7). Allocation Ratio