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Finance 101 Thompson-Nicola Regional District Hospital Districts City of Kamloops

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Presentation on theme: "Finance 101 Thompson-Nicola Regional District Hospital Districts City of Kamloops"— Presentation transcript:

1 Finance 101 Thompson-Nicola Regional District Hospital Districts City of Kamloops

2 Thompson-Nicola Regional District LEGISLATIVE REQUIREMENTS Hospital District Act Part 3 – Functioning of Boards City of Kamloops

3 Purpose HDA section 20: a)to establish, acquire, construct, reconstruct, enlarge, operate and maintain hospitals and hospital facilities; b)to grant aid for the establishment, acquisition, reconstruction, enlargement, operation and maintenance of hospitals and hospital facilities; c)to be the entity that borrows funds required for the above purposes, and act as the taxing authority to tax for the funds to pay said debt; d)to act as the agent of the government in receiving and disbursing money granted out of the hospital insurance fund or the Government of Canada

4 Regional Hospital Board Basically consists of the Directors on the board of the Regional District, with some tweaks CC section 8:

5 Regional Hospital Board Thompson - Nicola Regional Hospital District Thompson Regional Hospital District Pre-19961996 and after -Only exists currently in order to finish repaying old debt -Final debt payments made in 2013, likely will be dissolved in near future -Current entity actively providing grants to IHA for new equipment/facilities -Holds debts relating to grants from 1996 onward -Basically the same boundaries and the TNRD -Includes Director from Lillooet and parts of the Shuswap

6 Provisional and annual budget HDA section 23: Must prepare and adopt, before a prescribed date each year, a provisional budget for the following calendar year Including detailed estimates of expenses, interest and principal on debt List of all capital expenditures with description of each project Detailed estimates of revenues, surpluses/deficits Final Annual budget must be adopted by bylaw on or before March 31

7 Capital Bylaw HDA section 32: In order to borrow or spend money to meet capital expenditures, must prepare and enact a capital bylaw for this purpose. must be in a form required by the minister must include provisions that the minister considers necessary or that are prescribed by the regulations and may, subject to the above, provide for the issue of securities to raise the net sums required if those costs are not to be paid or from any other source.

8 Temporary borrowing for operations A board may, by resolution, either before or after the preparation of its annual budget, borrow for purposes other than capital expenditures, by way of temporary loan, sums the board may deem necessary to meet the current operating expenditures of the board for the year, including the amounts required for principal and interest falling due within the year on any debt of the board, but all money so borrowed must be repaid within 9 months of the date of the borrowing. HDA section 31:

9 Thompson-Nicola Regional District Question s? City of Kamloops

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