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O. Reg. 246/17: DETERMINATION OF BOARDS' SURPLUSES AND DEFICITS

filed June 30, 2017 under Education Act, R.S.O. 1990, c. E.2

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ontario regulation 246/17

made under the

Education Act

Made: June 28, 2017
Filed: June 30, 2017
Published on e-Laws: June 30, 2017
Printed in The Ontario Gazette: July 15, 2017

Amending O. Reg. 488/10

(DETERMINATION OF BOARDS’ SURPLUSES AND DEFICITS)

1. (1) Paragraph 1 of section 5 of Ontario Regulation 488/10 is amended by striking out “this section or under this section’s predecessor” and substitute “this subsection or under this subsection’s predecessor”.

(2) Section 5 of the Regulation is amended by adding the following subsections:

(2) Despite subsection (1), for the purposes of the determination of the in-year surplus or in-year deficit for the Greater Essex District School Board for the 2016-2017 fiscal year, the amount determined as follows shall be included:

1. Take the amount determined under paragraph 3 of subsection 2.3 (4). (The amount determined under paragraph 3 of subsection 2.3 (4) is the amount determined by going through the determination process set out in paragraphs 1 through 3 of subsection 2.3 (4).)

2. Subtract the amount determined under subsection 2.3 (4) for the 2012-2013 fiscal year.

3. Subtract the amount determined under the predecessor of subsection (1), subsection 2.4 (3), for the 2013-2014 fiscal year.

4. Subtract the amount determined under the predecessor of subsection (1), subsection 2.4 (3), for the 2014-2015 fiscal year.

5. Subtract the amount determined under the predecessor of subsection (1), subsection 2.4 (3), for the 2015-2016 fiscal year.

6. Divide the amount determined in paragraph 5 by 12.

7. Take either of the following amounts:

i. The amount determined under paragraph 6.

ii. An amount selected by the board, and reported to the Minister, that is greater than the amount determined under paragraph 6 but does not exceed the amount determined under paragraph 5.

(3) Despite subsection (1), for the purposes of the determination of the in-year surplus or in-year deficit for the Windsor-Essex Catholic District School Board for the 2016-2017 fiscal year, the amount determined as follows shall be included:

1. Take the amount determined under paragraph 3 of subsection 2.3 (4). (The amount determined under paragraph 3 of subsection 2.3 (4) is the amount determined by going through the determination process set out in paragraphs 1 through 3 of subsection 2.3 (4).)

2. Add the amount payable by the board for the 2015-2016 fiscal year, determined as of the last day of that fiscal year, in respect of retirement benefits and post-employment benefits for the things described in subclauses 177 (1) (a) (i) and (iii) of the Act for employees of the board.

3. Subtract the amount determined under subsection 2.3 (4) for the 2012-2013 fiscal year.

4. Subtract the amount determined under the predecessor of subsection (1), subsection 2.4 (3), for the 2013-2014 fiscal year.

5. Subtract the amount determined under the predecessor of subsection (1), subsection 2.4 (3), for the 2014-2015 fiscal year.

6. Subtract the amount determined under the predecessor of subsection (1), subsection 2.4 (3), for the 2015-2016 fiscal year.

7. Divide the amount determined in paragraph 6 by 12.

8. Take either of the following amounts:

i. The amount determined under paragraph 7.

ii. An amount selected by the board, and reported to the Minister, that is greater than the amount determined under paragraph 7 but does not exceed the amount determined under paragraph 6.

(4) Despite subsection (1), for the purposes of the determination of the in-year surplus or in-year deficit for the Greater Essex District School Board for the 2017-2018 fiscal year and the following fiscal years, the amount determined as follows shall be included:

1. Take the total of every amount determined in a previous fiscal year under this subsection.

2. Add the amount determined under subsection (2).

3. Subtract the amount determined in paragraph 2 from the amount determined in paragraph 5 of subsection (2).

4. Take the lesser of the amount determined in paragraph 3 and the amount determined in paragraph 6 of subsection (2).

5. Take either of the following amounts:

i. The amount determined under paragraph 4.

ii. An amount selected by the board, and reported to the Minister, that is greater than the amount determined under paragraph 4 but does not exceed the amount determined under paragraph 3.

(5) Despite subsection (1), for the purposes of the determination of the in-year surplus or in-year deficit for the Windsor-Essex Catholic District School Board for the 2017-2018 fiscal year and the following fiscal years, the amount determined as follows shall be included:

1. Take the total of every amount determined in a previous fiscal year under this subsection.

2. Add the amount determined under subsection (3).

3. Subtract the amount determined in paragraph 2 from the amount determined in paragraph 6 of subsection (3).

4. Take the lesser of the amount determined in paragraph 3 and the amount determined in paragraph 7 of subsection (2).

5. Take either of the following amounts:

i. The amount determined under paragraph 4.

ii. An amount selected by the board, and reported to the Minister, that is greater than the amount determined under paragraph 4 but does not exceed the amount determined under paragraph 3.

Commencement

2. This Regulation comes into force on the day it is filed.

 

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