board_handbook:budget
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| board_handbook:budget [2025/05/21 03:46] – [Understanding the CLT and COHO Budgets] Added detail about line items awhetter | board_handbook:budget [2025/05/22 01:29] (current) – Move note about vanacy losses to appropriate line item awhetter | ||
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| * Next year: The budget for next year. We can compare this with the "this year" column to identify changes in charges. | * Next year: The budget for next year. We can compare this with the "this year" column to identify changes in charges. | ||
| - | Note that losses due to vacancies (a unit being empty for a month and therefore there being no rent charge for that unit that month) are tracked as losses in the budgets to make them more visible. We aim to have less than $15,000 of vacancy losses in a year. | ||
| ==== Line Items ==== | ==== Line Items ==== | ||
| Line 71: | Line 70: | ||
| * Fire & safety | * Fire & safety | ||
| * Repairs and maintenance | * Repairs and maintenance | ||
| - | * Tools/ | + | * Tools/ |
| - | * General Maintenance | + | * General Maintenance: Includes some technician costs, and more unspecified costs (FIXME: what are these costs?). |
| * Maintenance - units | * Maintenance - units | ||
| * Maintenance - exterior | * Maintenance - exterior | ||
| * Maintenance - common areas | * Maintenance - common areas | ||
| - | * R&M - Units - Painting | + | * R&M - Units - Painting: Covers the repainting of units after members move out. |
| * Utilities | * Utilities | ||
| * Hydro/ | * Hydro/ | ||
| * Water/ | * Water/ | ||
| - | * Gas | + | * Gas/Neighbour energy utility: Covers the neighbourhood energy utility ([[https:// |
| * Administrative Expenses | * Administrative Expenses | ||
| - | * Bank charges | + | * Bank charges: These are primarily incurred due to the use of Electronic Funds Transfers (EFT) for vendor payments made from the operating account. |
| * Business licenses and permits | * Business licenses and permits | ||
| * Insurance - General Liabilities | * Insurance - General Liabilities | ||
| * Office supplies | * Office supplies | ||
| * Property taxes | * Property taxes | ||
| - | * Telecommunications | + | * Telecommunications: Covers a range of services, such as internet, office phone, elevator phone line, fire connection phone, security internet, and enterphone line. |
| * Co-op Sustainability Fund | * Co-op Sustainability Fund | ||
| * Professional Services | * Professional Services | ||
| Line 100: | Line 99: | ||
| * 4000 Housing Charges | * 4000 Housing Charges | ||
| - | * 4050 Vacancy Loss | + | * 4050 Vacancy Loss: Losses due to vacancies (a unit being empty for a month and therefore there being no rent charge for that unit that month) are tracked as losses in the budgets to make them more visible. We aim to have less than $15,000 of vacancy losses in a year. |
| * 4400 Parking Income | * 4400 Parking Income | ||
| * 4450 Storage/ | * 4450 Storage/ | ||
| Line 109: | Line 108: | ||
| * Operating Expenses: | * Operating Expenses: | ||
| * 5700 Insurance | * 5700 Insurance | ||
| - | * 5900 GST Expense | + | * 5900 GST Expense: CLT takes care of the Co-op’s GST expenses. Therefore we should expect to see no GST budget for the Co-op in COHO's budget. We might see expenses for the current year, but we expect CLT to be taking care of those (FIXME How?). |
| - | * Repairs and Maintenance Expenses: | + | * Repairs and Maintenance Expenses: |
| * 6000-1-0 Repairs/ | * 6000-1-0 Repairs/ | ||
| * 6000-3-0 Repairs/ | * 6000-3-0 Repairs/ | ||
| Line 131: | Line 130: | ||
| * 8000-07 Landscaping/ | * 8000-07 Landscaping/ | ||
| * 8000-09 Other Committee Expenses | * 8000-09 Other Committee Expenses | ||
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board_handbook/budget.1747799180.txt.gz · Last modified: by awhetter