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Budget Well
To avoid running out of money, your co-op needs to adopt a well thought-out operating budget every year. Without one, you could find yourself facing a deficit, paying your bills late, cutting back on repairs to units and unable to update and replace worn-out building elements.
Begin the process by
Your Operating Agreement
Almost all housing co-operatives that have received assistance under federal programs in Canada have, or once had, an operating agreement with Canada Mortgage and Housing Corporation (CMHC). The CMHC agreements set out what each party is required to do during a term that varies from 30 to 50 years.
Auditor’s Guide to the AIR
Audit Fees on the Rise for Housing Co-ops
In recent years, with sustained high inflation affecting many goods and services, we looked at the audit fee data reported by housing co-ops in our portfolio.
Our analysis shows that audit fees are on the rise. Specifically, from 2022 to 2025, the average annual increase for housing co-op audit
Q&A on the AIR for Auditors
Pre-audit AIR Checklist
Replacement Reserve Spending Form
Tip of the Month
Capital Plans and Contributions
Comparing 2007 and 2020, we saw the median annual contributions per unit almost triple ($1,026 per unit to $3,052).