- Vacancy loss: at the last meeting, I reported I have instructed Brydges to cease using “Account 9002: residential vacancy expenses” to record vacancy loss and to use “4411: rent residential vacancy.” They have done so with the current financial report.
- Unit 5 will be vacated at the end of December 2021. The member will continue paying housing charges until January 15, 2022. A new tenant will move in and begin paying housing charges on that date. I will authorize the purchase of the departing member’s shares once I receive notice from the Maintenance Committee that the suite is suitable condition for the incoming member. It does not appear there will be a vacancy loss.
- Rent supplement: I will provide an up-to-date report on the rent supplement situation of one member at the meeting. One of the households in the four-bedroom units has not requalified for rent supplement. We can transfer that spot to another household. But there is a risk in that the four bedrooms are fully sponsored. If we assign the rent supplement and one of the four bedroom households moves out we may have a problem finding a newcomer family that can afford to move in. At the same time, we will be restricted by our obligations to the share sponsors. I raised the possibility of temporarily not applying the rent supplement spot with Marcel Calvez of Manitoba Housing on December 20, 2021. I am awaiting her responses. (We have 13 rent supplement spots.)
- Arrears: I will report on arrears at the meeting.
- I will move the surplus money from the Share Redemption Fund to the Capital Replacement Reserve on December 31, 2021.
- I will report on Insurance at the meeting.
- I have updated the Financial Report on the website. In three cases, I have added graphs to the report, replacing tables.
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Annual Events
The following tasks are from our Calendar for January. The items in boldface are to be done by Brydges.
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- Reconcile share capital, loans, and sponsorship report.
- Receive and complete Manitoba Housing loan forgiveness documents.
- Collect completed Tenant Declaration forms (Appendix D) and submit report for Rental Construction Tax Credit https://www.gov.mb.ca/housing/progs/rental_housing_tax_credit.html
- Request ACU sponsorship grant installment $10,000, 2022 is the last year for doing this.
- Produce letters for each resident of annual housing payments for income tax purposes. Note that OGHC will pick these up and distribute them.
- Review loans to members and see if the three-year review is due. Annual Notes should be made regarding accrued interest and any related updates. (There are no member loans.)
- Quarterly financial report to website and in print. The report is posted here. (Will be done at the end of January.)