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O. Reg. 328/16: ACCOUNTING POLICIES AND PRACTICES
filed September 30, 2016 under Financial Administration Act, R.S.O. 1990, c. F.12
Skip to contentontario regulation 328/16
made under the
Financial Administration Act
Made: September 28, 2016
Approved: September 28, 2016
Filed: September 30, 2016
Published on e-Laws: October 3, 2016
Printed in The Ontario Gazette: October 15, 2016
Amending O. Reg. 395/11
(ACCOUNTING POLICIES AND PRACTICES)
1. Ontario Regulation 395/11 is amended by adding the following section:
Accounting policies and practices
3. (1) The consolidated financial statements of the Province set out in the Public Accounts for the fiscal year ending March 31, 2016 shall be prepared in accordance with the following rules:
1. In determining a valuation allowance for a jointly sponsored pension plan with a surplus calculated for accounting purposes, the Province shall assume an expected future benefit of zero.
2. The rule in paragraph 1 shall be reflected in all related asset, revenue, liability, expense and accumulated deficit balances as if it had been implemented effective April 1, 2015.
(2) In subsection (1),
“jointly sponsored pension plan” has the same meaning as in the Pension Benefits Act.
Commencement
2. This Regulation comes into force on the day it is filed.
Made by:
Pris par :
Treasury Board:
Le Conseil du Trésor :
Liz sandals
President of the Treasury Board
Greg Orencsak
Secretary, Treasury Board/Management Board of Cabinet
Date made:September 28, 2016
Pris le : 28 septembre 2016