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2018 Annual Report
Refreshing our Agency Reports
The Agency is currently working on refreshing our four key reports for co-ops: the Risk Report, Compliance Report, Plain-Language Financials, and the newly renamed Performance Report (previously known as the Co-op Data Report). Our goal was to make each report more accessible and engaging. We have
Reporting and Supporting: The Rent Supplement Program
In 2017, the Agency took on the responsibility of managing Canada Mortgage and Housing Corporation (CMHC)’s Rent Supplement Program. A few months later, we launched our brand new On-line Rent Supplement Claims System (RS System), ending the use of outdated paper forms. Almost two years in, we are
A New Era for the Agency’s Board
For the first time, starting in June 2019, the Agency’s Board of Directors will include two directors already serving on the Board of CHF Canada.
Tom Clement is the long-time executive director of the Co-operative Housing Federation of Toronto. Tom is well known to Ontario co-op members and
The Relationship Manager as a Young Mentee
Excellent client service is partly based on staff having the right attitude, but, in itself, a be-of-service orientation is not enough. The Agency strongly encourages relationship managers and other staff to take up special opportunities for professional development and education that will enhance
What to Look for in Your Next Risk Report
Once a year, all Agency clients get what their boards tell us is our most important report, which is now enjoying a make-over. When you receive it, you’ll see a refreshed Risk Report that is tighter, more visual and easier to read. Although it has a different look, you will find there the same
Arrears and Bad Debts: Continued Improvement
Your co-op is in the housing business, not the lending business. If a household doesn’t pay what it owes and moves out, you’re left with a bad debt, which will have to be covered by your other members. It is important for your co-op to keep arrears to a minimum and even better, to keep them at zero!
Say “No” to Directors in Arrears and Put it in Writing
Everyone agrees that housing co-ops need to eliminate member arrears—or at least keep them to a bare minimum. Uncontrolled arrears are the mark of a co-op sliding into financial difficulty, putting at risk its ability to cover day-to-day operating expenses. Arrears also take money out of the members
Tip of the Month
Plans in Action
The average co-op with an approved capital replacement plan tucks away more than $3,600 per unit in reserves each year--triple the 2007 amount. Does their future hold better windows? New kitchens? Savings mean more choices.