92-65
COUNTY OF ELGIN
By-Law NO.92-65
"BEING A BY-LAW TO ESTABLISH A RESERVE FOR NEW EOUIPMENT AND/OR
HOUSING FOR THE ROADS DEPARTMENT"
WHEREAS the method of accounting and payment of
provincial subsidies, administered through the Ministry of Trans-
portation of Ontario, was changed from the rural to urban method,
for County Road expenditures, effective January 1st, 1992; and
WHEREAS as a result, equipment and other capital
purchases are no longer subsidized when paid for, but must be
provided by the County, either directly, or by accumulating monies
charged for the operation of the said equipment used on various
works, the rate which exceeds actual cost of operating; and
WHEREAS in order to retain the surplus monies in the
equipment pool it is necessary that an appropriate Reserve be
established.
NOW THEREFORE the Municipal Council of the Corporation of
the County of Elgin enacts as follows:
1. That an account entitled "Reserve for New Equipment
and/or Housing" be established for the County Roads Department,
into which surplus funds resulting from the charges made for the
operation of equipment will be credited.
2. That expenditures made from this account shall be subject
to approval of the County Roads Committee.
3. That this by-law shall become effective upon passing.
READ a first time this 10th of December, 1992.
READ a second time this 10th of December, 1992.
READ a third time and finally passed this 10th day of December, 1992
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G. C. Leverton,
Clerk.