10 am Meeting room
Acceptance of agenda
Acceptance of previous meeting notes
- December 3, 2024, Finance Committee Minutes
- December 2024 Treasurer’s Report to Board
- December 2024 addition to Treasurer’s Report to Board
Future housing charges
I met with Manitoba Housing officials on December 17 to discuss the structural problems that arise from the application of rent controls. They agreed to enter into a multi-year above-guideline increase agreement in 2025.
Financial
- The November 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 as of December 31.
Waiting list
Applications to waiting list January 1 to December 20: 69
Withdrawals from waiting list January 1 to December 20:: 45
Investments
In November Diane and I attended an online information session sponsored by Encasa, an investment company that focuses on the investment needs of non-profit housing providers. Here is a link to their background information.
The following table will appear in all Finance Committee Agendas. It summarizes our investments. Investments that mature in 2025 are in boldface.
No new decisions are needed until May 2025.
| Operating | Amount invested | Date of maturity | Interest rate |
| 883 | 37,159 | 16-Sep-27 | 5 |
| 925 | 35,974 | 16-Sep-26 | 4.95 |
| 796 | 8,734 | July 21, 2027 | 4.8 |
| 804 | 8,729 | 21-Jul-25 | 4.75 |
| 838 | 8,718 | 21-Jul-26 | 4.6 |
| 050 | 17,402.91 | 16-Sep-27 | 4.3 |
| 068 | 17,402.91 | 16-Aug-28 | 4.3 |
| 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-27 | 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
The Co-operators Insurance prices have arrived.
Property and Casualty: $43,949
Directors Liability: $1251
Total $45,200. The budgeted amount is $48,707.
Brydges’s submission to Hub International has not, as yet, produced other bids.
Credit card purchases
There have been no credit card purchases in the last month. No statement was issued.
Arrears
At the end of November there was one arrears: a total of $455. It was cleared in December.
Capital costs to the end of December
The following table will show the 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 | Consulting (Roof deck) | 13 |
| October | 862.69 | Vestibule | 9 |
| October | 5119.74 | Electric vehicle charger | To be paid by grant. |
| December | 688.90 | Shingle repairs | 12 |
| December | 6566 | Downspouts and eaves | 12 |
| December | 11770 | Heat trace cables | 12 |
| December | 2920.49 | Consulting | 12 |
| December | 1350 | Consulting | 12 |
| December | 5,800.00 | Sealing patio | 12 |
| December | 4,586.67 | Patio and Unit restoration | 12 |
Calendar
- Reconcile the “Share capital, loans, and sponsorship” document. Done.
- Prepare Annual Project Data Report Monitoring Reports to qualify for annual Manitoba Housing loan forgiveness. To be completed by Brydges. The process is streamlined, usually done in March.
- Start the Audit process with a call to the auditor.
- Produce letters for each resident of annual housing payments for income tax purposes. Note that OGHC will pick these up and distribute them.
- Provide Assiniboine Credit Union with rent roll. (Rent roll reflects the monthly charges per unit.)
- Review loans to members. No loans outstanding.
- Ask the Membership Committee to provide the December 31 Member list and the Friend list to Brydges.
New business
Next regular meeting: Tuesday, February 4, 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