010267 — ASSETS AND LIABILITIES, O. Reg. 267/01

s. 1

The assets referred to in section 3 of the Act are assets which on December 31, 2000 were,

s. 1(a)

reserves and reserve funds;

s. 1(b)

revenue fund surplus;

s. 1(c)

investments, excluding investments of reserves and reserve funds;

s. 1(d)

inventories for sale, including land acquired for the purpose of resale;

s. 1(e)

the net proceeds to be realized from the disposition of property under a binding sale agreement;

s. 1(f)

the present value of the projected payments-in-lieu of taxes for school purposes that are not required to be shared with school boards;

s. 1(g)

the present value of projected royalties receivable with respect to an aggregate pit or quarry.

s. 2

The liabilities referred to in section 3 of the Act are liabilities which on December 31, 2000 were,

s. 2(a)

debts, including debentures and short-term and temporary borrowing;

s. 2(b)

revenue fund deficit;

s. 2(c)

post-employment benefits, including pension obligations, severance allowances and vested sick leave;

s. 2(d)

accrued liabilities, including obligations incurred as a Schedule 2 employer under the Workplace Safety and Insurance Act, 1997 that are not recorded as an expenditure;

s. 2(e)

long-term obligations and lease commitments.