119. The budget may not provide for expenditures that exceed the revenues of the transit authority. The budget must be transmitted to the Minister and to the Minister of Municipal Affairs, Regions and Land Occupancy on the form provided, if any, by the latter.
A transit authority may transfer funds from one item of its budget to another up to an amount authorized by the council of the city and report the transfer to the council. Any transfer exceeding that amount must be specially authorized by the same council.
2001, c. 23, s. 119; 2001, c. 66, s. 27; 2003, c. 19, s. 250; 2005, c. 28, s. 196; 2009, c. 26, s. 109.
For the purposes of the budget of any municipal fiscal year as of the municipal fiscal year 2017, the second sentence of the first paragraph of this section is struck out (2016, c. 17, ss. 127 and 141).