Municipal Government Act s. 241

In this Part,

RSA 2000
Section 241 MUNICIPAL GOVERNMENT ACT Chapter M-26
176
(a) "accounting standards" means the Canadian generally
accepted accounting principles for municipal governments,
which are the standards approved by the Public Sector
Accounting Board included in the CPA Canada Public
Sector Accounting Handbook;
(a.01) "amortization" and "tangible capital assets" have the same
meaning as in the CPA Canada Public Sector Accounting
Handbook;
(a.02) "annual budget" means a combined operating budget and
capital budget for the calendar year determined on a basis
consistent with accounting standards and the requirements
of this Part;
(a.1) "borrowing" means
(i) the borrowing of money, including, without limitation,
money borrowed to refinance, redeem or restructure
existing debt;
(ii) a lease of capital proper ty, including leased tangible
capital assets as defined in the CPA Canada Public
Sector Accounting Handbook;
(iii) an agreement to purchase capital property that creates an
interest in the capital property to secure payment of the
capital property's purchase price, if payment of the
purchase price under the agreement exceeds 5 years;
(iv) the amount available to b e borrowed on a credit card or
under any other revolving credit arrangement;
(b) "borrowing bylaw" means a bylaw referred to in section
251;
(c) "capital property" means property that
(i) is used in the production or supply of goods and services
or is used for a municipal purpose,
(ii) has a useful life extend ing beyond 12 months and is
intended to be used on a continuing basis, and
(iii) is not intended for sal e in the ordinary course of
operations;
(d) "controlled corporation" means a controlled corporation as
defined in section 75.1;

RSA 2000

(d.1) "CPA Canada Public Sect or Accounting Handbook" means
the CPA Canada Public Sector Accounting Handbook
published by the Chartered Professional Accountants of
Canada, as amended from time to time;
(e) "debt limit" means the de bt limit for a municipality
determined in accordance with the regulations under section
271;
(f) "non-profit organization" means
(i) a society, credit union or co-operative established under
a law of Canada or Alberta,
(ii) a corporation that is prohibited from paying dividends to
its members and distributing the assets to its members on
a winding-up, or
(iii) any other entity establishe d under a law of Canada or
Alberta for a purpose other than to make a profit.
RSA 2000 cM-26 s241;2015 c8 s33;2016 c24 s19;
2022 c16 s9(52)

MHHS Minimum Housing and Health Standards

241 Definitions