8001 Annual Operating Budget

POLICY NO.:                8001                             DATE APPROVED:       1999-12-08

 

SUBJECT:                    Annual Operating Budget

 Policy

 Significant adjustment and/or new programs shall be reviewed by the Board prior to the commitment of funds.  Priorities within the existing financial framework will be discussed by the Board.  A significant adjustment is defined as the transfer of allocated funds from one general appropriation category to another, an anticipated over-expenditure of funds, or a re-allocation of the use of funds from the intent of the original budget.

Timelines

 

Committee of the Whole (November) Budget Committee Meeting dates determined by the Committee   of the Whole (Year 1/ Amended Annual Budget from Ministry)
Board Meeting in February Request three readings of By-Law  – Year 1 Budget (Final)If not three readings, request Special Board Meeting for 3rd   reading
End of February Submission of Amended Annual Budget(Year 1)
Committee of the Whole (March) Budget Committee Meeting dates determined by the Committee   of the Whole (Preliminary/Year 2 Budget)
Beginning of April Decision on referendum, to meet legislative requirement of   at least two weeks prior to referendum being held (Note:  date determined by Ministry each year)
Early to mid-April Referendum particulars must be advertised once each week   for two weeks
Mid-April Referendum vote – date determined each year by Ministry
Board Meeting in June Request three readings of Annual Budget/Year 2 BudgetIf not three readings, request Special Board Meeting for 3rd   reading

 

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