10 am Meeting room
Acceptance of agenda
Acceptance of previous meeting notes
- September 3, 2024, Finance Committee Notes (corrected)
- November 5, 2024, Finance Committee Minutes
- November 2024 Treasurer’s Report to Board
- November 2024 addition to Treasurer’s Report to Board
Application for an above guideline increase
I will report on the results of our application for an above guideline increase. A copy of the application can be found here.
Financial
- The October Financial Reports have been received and circulated.
- The CHF checklist has been updated. It can be viewed here.
- The consolidated financial report has been received. It can be viewed here.
Move-in/move-out
No notices were given in the past month
Waiting list
Applications to waiting list January 1 to November 26: 65
Withdrawals from waiting list January 1 to November 26: 45
Investments
The following table will appear in all Finance Committee Agendas. It summarizes our investments. Investments that mature in 2025 are in boldface.
I will prepare a report on the Encasaa workshop for the January 2025 meeting.
No new decisions are needed until May 2025.
|
Operating |
Amount invested |
Date of maturity |
Interest rate |
|
883 |
37,159 |
16-Sep |
5 |
|
925 |
35,974 |
16-Sep-26 |
4.95 |
|
796 |
8,734 |
21-Jul-24 |
4.8 |
|
804 |
8,729 |
21-Jul-25 |
4.75 |
|
838 |
8,718 |
21-Jul-26 |
4.6 |
|
50 |
17,402.91 |
||
|
68 |
17,402.91 |
||
|
134,120 |
|||
|
Capital replacement |
|||
|
474 |
35,830.06 |
2026-06-15 |
4.55 |
|
516 |
35641 |
15-Jun-25 |
3.4 |
|
116 |
17,468.00 |
21-Jul-24 |
4.8 |
|
132 |
17460 |
21-Jul-25 |
4.75 |
|
140 |
17435 |
21-Jul-26 |
4.6 |
|
123,834.06 |
|||
|
Share redemption fund |
|||
|
327 |
143,331 |
14-Jul-25 |
4.95 |
Insurance review
We are required to carry out an annual review of our insurance policy. We review the policy based on the Agency for Co-operative Housing’s Questions and Answers on Insurance for Housing Co-operatives.
The ACH manages the federal government’s co-operative housing programs in British Columbia, Alberta, Ontario and Prince Edward Island. The 2024 review can be found here.
As of November 26, we have not received the 2025 insurance information.
Credit card purchases
There have been no credit card purchases in the last month. No statement was issued.
Arrears
At the end of October there were two arrears: total of $468. They should be cleared up by the end of November.
Capital costs to the end of November
The following table will show the list items capitalized in 2024.
|
Date |
Amount |
Service |
BCA Number |
|
May |
$1,229.43 |
Refrigerator |
20 |
|
May |
$1,127.52 |
Refrigerator |
20 |
|
May |
19617.3 |
Vestibule |
9 |
|
July |
500 |
DRS Consulting (Roof deck) |
13 |
|
October |
862.69 |
Vestibule |
9 |
|
October |
5119.74 |
Electric vehicle charger |
To be paid by grant. |
Calendar
- Provide Brydges and Assiniboine Credit Union with a signed copy of our Budget
- December 31, transfer surplus in Share Redemption Fund Account to Capital Reserve Account.
New business
Next regular meeting: Tuesday, January 7, 2025.
Coming/deferred issues
These are issues that cannot be addressed now, but we should consider them in the future.
- Investigate extension of lease.
- Member initiative Fund