HomeMy WebLinkAboutKit Housing - 2011-09-21
KITCHENER HOUSING INC
MINUTES OF THE MEETING OF THE BOARD OF DIRECTORS
HELD:
Schmalz Room, City Hall, 200 King Street West, Kitchener
DATE:
September 21, 2011
TIME:
4:00 p.m.
PRESENT: ,
Bob McCollAndrew Head, Frank Etherington, Carl Zehr, Ted Bleaney,
Mike Seiling, Bil Ioannidis
RESOURCE
STAFF: ,
Karen KwiatkowskiIulian Anghel, Lori Trumper
ABSENT:
Christian Witt, Corrine Cash, Denny Cybalski, David Heintz
Opening Remarks
1.
Andrew Head, Chair called the meeting to order at 4:10 p.m.
Conflict of Interest
2. - nil
Approval of Agenda
3.
On a motion
by Bob McColl, seconded by Ted Bleaney and CARRIED, the
agenda be approved.
Minutes
4.
Approval of Board Minutes – August 17, 2011
4.1
The minutes of the Board of Directors Meeting August 17, 2011 had been circulated with
the agenda.
On a motion
by Bob McColl seconded by Mike Seiling and CARRIED, it
was resolved that the minutes of the Board Meeting of June 15, 2011 be
accepted as a true and correct record of the meeting.
Finance & Administration Business
5.
Financial Statements – August 2011
5.1
Financial Statements for the July have been circulated with the agenda. Lori Trumper gave
an overview of the report.
On a motion
by Carl Zehr, seconded by Ted Bleaney and CARRIED, the
June statements be approved.
2
Rental Arrears Report – August 2011
5.2
The Rental Arrears Report for August had been circulated with the agenda. Lori Trumper
gave the report. The arrears for August were 2 % with 3 vacancies and we were over the
market target by 29. There were no L1 registered through the RTA in August.
Lori updated that she has ended the contract with Collection Specialists Incorporation. A
letter has been sent which provides the company with the required 75 day notice period to
end the contract in November. All KHI files are to be returned to KHI no later than
November 12, 2011.
Lori has engaged the services of Kingston Data & Credit to begin their collection services
for KHI shortly.
2012 Operating Budget
5.3
A handout was distributed of the Eligible Expenses for the 2012 Annual Subsidy
Entitlement portion of the budget. Lori Trumper provided an overview of the allowable
indices, increases and decreases, as per the Service Manager information. Based on the
expense categories, the following 2012-13 Funding Model Indices has been approved and
circulated by the Region of Waterloo through their Community Housing Program Bulletin
issue 11-002:
Administration – 2011 base x 4.045%
Maintenance – 2011 base x 4.045%
Hydro – 2011 base x -0.306%
Natural Gas – 2011 base x -10.646%
Water – 2011 base x 6.384%
Capital reserve – 2011 base x 4.045%
Insurance – 2011 base x -0.841%
Bad debt – 2011 base x .0588%
Municipal taxes – 2011 base x 2.5%
On a motion
from Ted Bleaney and seconded by Carl Zehr and CARRIED, the
2012 budget, as presented in the handout, be approved for manageable expenses at
$3,175,731, municipal taxes at $1,154,132 and mortgages at $4,232,104, totalling
$8,561,967 in eligible expenses.
The revenue template received from the Region of Waterloo, requires a number of changes
before the entire 2012 budget is completed. This change will be completed shortly and Lori
will present a final budget overview at the October Board meeting.
Property Business -
6. was discussed in Caucus
Tenant Placement
6.1 – was discussed in Caucus
Property Maintenance Report
6.2 – was discussed in Caucus
2012 Capital Improvement Budget
6.3 – was discussed in Caucus
General Manager’s Report -
7.was discussed in Caucus
Chair updates
8. – was discussed in Caucus
Open Forum - nil
9.
Other - nil
10.
Adjournment
11.
On a motion
by, Bil Ioannidis seconded by Mike Seiling and CARRIED, the
meeting adjourned at 5.05 p.m.
ACCEPTANCE OF MINUTES
___________________________________ __________________________
Chairman Secretary