1 CENTRAL 1 O.C.S.C.C. No. 903 Annual General Meeting – November 18, 2015

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CENTRAL 1 O.C.S.C.C. No. 903Annual General Meeting – November 18, 2015

AGM AgendaAGM Agenda

• Confirmation of QuorumConfirmation of Quorum• Introductions: Board of Directors, Property Manager, Auditor, Introductions: Board of Directors, Property Manager, Auditor,

ChairChair• Presentation of Audited Financial Statements: Annette Jensen, WG Presentation of Audited Financial Statements: Annette Jensen, WG

Chartered AccountantsChartered Accountants• Appointment of the Auditor for Current Fiscal YearAppointment of the Auditor for Current Fiscal Year• Approval of the November 18, 2014 AGM MinuteApproval of the November 18, 2014 AGM Minute• President’s ReportPresident’s Report• Appointment of ScrutineersAppointment of Scrutineers• NominatorsNominators• Election of one (1) DirectorElection of one (1) Director

– Election of 1 position for a 3 year termElection of 1 position for a 3 year term• Election ResultsElection Results• Motion to Destroy BallotsMotion to Destroy Ballots• General DiscussionGeneral Discussion• AdjournmentAdjournment

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CENTRAL 1 O.C.S.C.C. No. 903Annual General Meeting – November 18, 2015

President’s Report – A Year in Review

A Year in ReviewA Year in Review

• IntroductionsIntroductions• Performance Audit UpdatePerformance Audit Update• Reserve Fund Study UpdateReserve Fund Study Update• Financial SummaryFinancial Summary• Items of InterestItems of Interest• General RemindersGeneral Reminders• QuestionsQuestions

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IntroductionsIntroductions

Board MembersBoard Members•Marty van Gaal (term ending Fall 2015) – PresidentMarty van Gaal (term ending Fall 2015) – President•Rick Butson (term ending Fall 2017) – SecretaryRick Butson (term ending Fall 2017) – Secretary•Krista Nonnenmacher-Biddiscombe (term ending Fall 2016) – Krista Nonnenmacher-Biddiscombe (term ending Fall 2016) – DirectorDirector

Property Manager (Taggart Realty Property Manager (Taggart Realty Management)Management)(1 year contract – May 31, 2016)(1 year contract – May 31, 2016)•Michelle Compton (as of June 2, 2015) replacing Mishka Hodorek Michelle Compton (as of June 2, 2015) replacing Mishka Hodorek (email: [email protected])(email: [email protected])•Viktoriya Neadow (assistant)Viktoriya Neadow (assistant)

Concierge Concierge (employee of the Condominium Corp)(employee of the Condominium Corp)•Patrick Lebrun (email: [email protected])Patrick Lebrun (email: [email protected])

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Performance AuditPerformance Audit

• PA Closed - Agreement reached with Urban PA Closed - Agreement reached with Urban Capital to repair or provide funding on all Capital to repair or provide funding on all reported deficienciesreported deficiencies

– $23,463.70 received to address Gladstone door $23,463.70 received to address Gladstone door issues, deposited in Reserve Fund (future issues, deposited in Reserve Fund (future replacement)replacement)

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Reserve Fund StudyReserve Fund Study

•ObjectiveObjectivea)a) Set up a schedule for the anticipated repair and Set up a schedule for the anticipated repair and

replacement of common element itemsreplacement of common element itemsb)b) Set up a special account for major repair items and Set up a special account for major repair items and

replacement of common elements and assets of the replacement of common elements and assets of the CorporationCorporation

c)c) To determine the annual contribution necessary to To determine the annual contribution necessary to maintain an adequate balance for the 30 year period of maintain an adequate balance for the 30 year period of this studythis study

d)d) Satisfy the legislation regarding the Condominium Act, Satisfy the legislation regarding the Condominium Act, 1998 and related regulations, and1998 and related regulations, and

e)e) Update every 3 years (paper followed by full inspection)Update every 3 years (paper followed by full inspection)a)a) Paper Study - spring of 2016 Paper Study - spring of 2016 b)b) Full Study – spring 2019 Full Study – spring 2019 c)c) Study cost is paid from the reserve fundStudy cost is paid from the reserve fund

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Reserve Fund – Plan and Reserve Fund – Plan and Financial SummaryFinancial Summary

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•Contract issued (paper study) to update 30 year plan Contract issued (paper study) to update 30 year plan (requirements will be addressed in 2016-2017 budget)(requirements will be addressed in 2016-2017 budget)•Investment RulesInvestment Rules

– All investments must be 100% guaranteedAll investments must be 100% guaranteed– Federal or Provincial (no limit), Banks ($100,000 CDIC insured)Federal or Provincial (no limit), Banks ($100,000 CDIC insured)

•Reserve Fund Study - $732,040 as of May 31, 2015Reserve Fund Study - $732,040 as of May 31, 2015– did not include initial purchase contributions of $143,630did not include initial purchase contributions of $143,630– assumptions – inflation 2%, assumptions – inflation 2%, interest 3%interest 3%

•Current Audited Balance - $894,867 as May 31, 2015 Current Audited Balance - $894,867 as May 31, 2015 – includes PA payment of $23,463.70 includes PA payment of $23,463.70 – investing in 1year to 3 year GICs (rates of 1.3% to 2.15%)investing in 1year to 3 year GICs (rates of 1.3% to 2.15%)

Reserve Fund – Investment PlanReserve Fund – Investment Plan

•Current GIC Investments (as of May 31, 2015)Current GIC Investments (as of May 31, 2015)

•Future Investments - $50,000 GICsFuture Investments - $50,000 GICs (approx. every 2 (approx. every 2 months)months)

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Institution Amount Interest Rate Maturity Date

Home Trust $95,902 2.05% June 15/15

Dundee Wealth $95,761 1.73% Dec 14/15

Equity Fin Trust $95,858 1.95% Dec 14/15

CIBC $95,365 1.30% Feb 12/16

MCAN $96,975 2.15% June 13/16

Manulife Bank $95,868 2.01% Dec 16/16

Home Equity $95,513 1.95% Feb 20/17

Equitable NC $96,131 2.05% Oct 31/17

ContractsContracts

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Contract Contractor TermManagement Taggart Realty Management May 31, 2016 (with option for additional 1 year)

Auditor WGPCAS November 18, 2015

Elevator Schindler Elevators August 8, 2033

Mechanical Optimum Mechanical Solutions Request issued for renewal quote) - check systems once every 2 months

Landscaping/Roof EXCEL 2015

Exercise Equipment Exer-Tech 30 day notice

Fire Alarm Pyron Fire Protection Sept 2015 (to be renewed)

Co2 Detection Armstrong Monitoring 30 day notice

Tri-Sorter (Compactor) WSG (Lease) June 2018

Insurance Smith Petrie Broker June 8, 2016

Snow Removal Marsden 2015-2016

Water Treatment Rochester Midland 30 day notice

Generator Gal Power Sept 2016

Security Securitas 30 day notice (moving to Shield – notice given)

Cleaning North Star September 31, 2018 (2015 – all cleaning combined into one contract)

Hydro EnerCare 10 year – January 2019

Green Loan Laurentian Bank October 1, 2017 ($95,042 remaining)

Garage Doors Parsons 30 day notice – check and lubricate every 2 months

Shared Facility AllocationShared Facility Allocation

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Description Allocation to Commercial

Gas 20%

Electricity 20%

Generator 20%

Gladstone and McLeod Garage Doors 50%

Loading Dock Door (ground level) 50%

Emergency Monitoring 20%

Fire System Maintenance 20%

Insurance 20%

Garage General Maintenance 20%

Landscaping 20%

Financial - SummaryFinancial - Summary

• 2014-2015 Year End 2014-2015 Year End – Operating Cash Surplus - $239,525Operating Cash Surplus - $239,525– Reserve Fund - $894,867Reserve Fund - $894,867

• 2015-2016 Budget2015-2016 Budget– 5.06% reduction in overall Condo Fees5.06% reduction in overall Condo Fees

• 8.47% reduction in Operating Budget (utilizing $117, 650 from 8.47% reduction in Operating Budget (utilizing $117, 650 from surplus)surplus)• 2% increase in Reserve Fund2% increase in Reserve Fund

– 45.3 cents/sq ft/month (previous year was 48.0)45.3 cents/sq ft/month (previous year was 48.0)– Green Loan Retirement Fund (New)Green Loan Retirement Fund (New)

• $60,000 from surplus plus $20,000 included in 2015-2016 budget $60,000 from surplus plus $20,000 included in 2015-2016 budget ($95,043 balancing owning on October 1, 2017)($95,043 balancing owning on October 1, 2017)• $80,000 in 1 year cashable GIC @1.55%$80,000 in 1 year cashable GIC @1.55%

– Remaining May 31, 2015 surplus of $61,875 Remaining May 31, 2015 surplus of $61,875 •$70,000 in a high interest savings account$70,000 in a high interest savings account

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Other Items of InterestOther Items of Interest•Information Session – June 3, 2015Information Session – June 3, 2015•Unsuccessful in proposed By-Law Unsuccessful in proposed By-Law Amendments (insurance deductible, Amendments (insurance deductible, screen door, hook in storage lockers, screen door, hook in storage lockers, ring in parking spots)ring in parking spots)•New rule to allow unit owners (at New rule to allow unit owners (at their cost and maintenance) to their cost and maintenance) to install a board approved rinstall a board approved rolling screen olling screen door (submit a request form)door (submit a request form)•Proposed rules coming to:Proposed rules coming to:

– allow for Saturday moving ($) and allow for Saturday moving ($) and use of McLeod elevatoruse of McLeod elevator– locking ring (for bikes) in parking locking ring (for bikes) in parking spacesspaces– Fitness Room – 5:30am (M-F)Fitness Room – 5:30am (M-F)

•Smoking Survey – consideration for Smoking Survey – consideration for possible new rulepossible new rule•Inspected all unit door latches – Inspected all unit door latches – adjustments and replacement as adjustments and replacement as requiredrequired•New firm hired for regular carpet New firm hired for regular carpet cleaningcleaning

• Landscaping Contract Issued Landscaping Contract Issued (Roof Top, Courtyard and Street)(Roof Top, Courtyard and Street)

• Gladstone Garage Door – issues Gladstone Garage Door – issues with noise, failures/damage – with noise, failures/damage – resolved for the momentresolved for the moment

• Repainting of Gladstone Garage Repainting of Gladstone Garage Door (on-hold)Door (on-hold)

• No Smoking signs - installed in No Smoking signs - installed in courtyard, stairwells and outside courtyard, stairwells and outside building entrancesbuilding entrances

• Floor sink in Gladstone Moving Floor sink in Gladstone Moving RoomRoom

• Gladstone Garage Door coded Gladstone Garage Door coded door entry device (bikes, foot door entry device (bikes, foot traffic)traffic)

• Standardized warning letters Standardized warning letters and associated fees (Bylaws and and associated fees (Bylaws and Rules)Rules)

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Other Items of Interest Other Items of Interest (continued)(continued)

•LEED Gold and plaquesLEED Gold and plaques•Exterior Building CornerstonesExterior Building Cornerstones•Unit owners - issues with Unit owners - issues with mechanical noises within unit mechanical noises within unit (survey)(survey)•10 additional bike racks to be 10 additional bike racks to be installed in P1/P2 installed in P1/P2 •Bar for Real Estate lock boxes Bar for Real Estate lock boxes (Gladstone/McLeod drive through (Gladstone/McLeod drive through area) – other real estate boxes in area) – other real estate boxes in and around building will be and around building will be removedremoved•No-Cost bike tagging – to allow for No-Cost bike tagging – to allow for the removal of ghost bikesthe removal of ghost bikes• Installation of timer on barbeque Installation of timer on barbeque gas linegas line•Installation of 4Installation of 4thth accessibility accessibility paddle on McLeod doorpaddle on McLeod door•Minimum of 6 Month LeasesMinimum of 6 Month Leases

– Short term use of units (e.g. Air Short term use of units (e.g. Air bnb) not allowedbnb) not allowed

• Gladstone/McLeod/Courtyard – Gladstone/McLeod/Courtyard – replacement plantsreplacement plants

• Option for unit owners (at their Option for unit owners (at their cost) to change their unit lock cost) to change their unit lock cylinder to a more secure key cylinder to a more secure key control system (Abloy) – on Condo control system (Abloy) – on Condo Master Key systemMaster Key system

• Installation of Suggestion BoxesInstallation of Suggestion Boxes• Winter carpets replacedWinter carpets replaced• Vinci - Exterior Signage and Vinci - Exterior Signage and

Parking Spots in Lieu Parking Spots in Lieu (unsuccessful)(unsuccessful)

• Shoppers Loading Dock - CleanupShoppers Loading Dock - Cleanup• Garbage ChuteGarbage Chute

– Signage (closed 10pm to 8am)Signage (closed 10pm to 8am)– Misuse and Blockage. May need to Misuse and Blockage. May need to

consider other options such as consider other options such as permanent closing of chutespermanent closing of chutes

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Other Items of Interest Other Items of Interest (continued)(continued)

• Scheduled ItemsScheduled Itemso Regular Maintenance (every 2 months)Regular Maintenance (every 2 months)

o Garage Doors, Garbage Chute/Compactor, Boilers, Closed Water Garage Doors, Garbage Chute/Compactor, Boilers, Closed Water Loop, Fitness Equipment, Elevators, Landscaping Loop, Fitness Equipment, Elevators, Landscaping

o General Cleaning (7 days per week, 5 days - entire building – General Cleaning (7 days per week, 5 days - entire building – 2 days - elevators and lobbies)2 days - elevators and lobbies)

o Carpet Cleaning (entire building 2 times/yr, 2Carpet Cleaning (entire building 2 times/yr, 2ndnd Floor 4 Floor 4 times/yr)times/yr)o Spot cleaning betweenSpot cleaning between

o Window Cleaning (annual)Window Cleaning (annual)o Garage Floor Cleaning (spring and fall)Garage Floor Cleaning (spring and fall)o Weekend Security (Friday and Saturday – 7:30pm to 2:30am, Weekend Security (Friday and Saturday – 7:30pm to 2:30am,

Sunday 7pm to 11pm)Sunday 7pm to 11pm)

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CommunicationCommunication• Owner to Owner for issues that are impacting each other (e.g. noise, Owner to Owner for issues that are impacting each other (e.g. noise,

general water leaking/damage, smoke)general water leaking/damage, smoke)• ONLY the owner (except for emergencies) is to communicate with ONLY the owner (except for emergencies) is to communicate with

the Property Managerthe Property Manager• Owner can make a request to communicate with the Board (via Owner can make a request to communicate with the Board (via

Property Manager or Suggestion Box)Property Manager or Suggestion Box)• Renter – (except for emergencies – e.g. water leaks) report Renter – (except for emergencies – e.g. water leaks) report

issues/concerns to their LANDLORD ONLYissues/concerns to their LANDLORD ONLY• Owner is responsible to communicate the name (s) and contact Owner is responsible to communicate the name (s) and contact

information of their tenantinformation of their tenant• Owner is responsible for the actions of their tenantOwner is responsible for the actions of their tenant• Owners are responsible to inform their tenant of declarations, Owners are responsible to inform their tenant of declarations,

bylaws and rulesbylaws and rules• Serious problems in a unit (e.g. fire, major water spill) that will Serious problems in a unit (e.g. fire, major water spill) that will

seriously impact other units are to be reported immediately (911, seriously impact other units are to be reported immediately (911, Concierge, Property Manager, After-Hour Emergency Line) Concierge, Property Manager, After-Hour Emergency Line)

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Communication (Continued)Communication (Continued)• Communication with ConciergeCommunication with Concierge

– Booking the Amenity Room and Elevator (for moving)Booking the Amenity Room and Elevator (for moving)– Reporting possible Declaration, Bylaw and Rule infractionsReporting possible Declaration, Bylaw and Rule infractions– Parcel pickupParcel pickup– Reporting Common Element Issues (e.g. Garbage Room/Chute, Amenity Room – Reporting Common Element Issues (e.g. Garbage Room/Chute, Amenity Room –

AV system, Fitness Equipment, Garage Doors)AV system, Fitness Equipment, Garage Doors)– Changing Unit Lock Cylinder (must stay on building master key system)Changing Unit Lock Cylinder (must stay on building master key system)– Not involved with issues within the unit (e.g HVAC and thermostats, HRV) or Not involved with issues within the unit (e.g HVAC and thermostats, HRV) or

issues from other units (unless deemed an emergency)issues from other units (unless deemed an emergency)– Hours at Gladstone DeskHours at Gladstone Desk

• Monday to Thursday, 8:00am to 8:30am and 4:30pm to 5:00pmMonday to Thursday, 8:00am to 8:30am and 4:30pm to 5:00pm• Friday, 8:00am to 8:30am and 2:30pm to 3:00pmFriday, 8:00am to 8:30am and 2:30pm to 3:00pm

• Central1Condo.Com (continually upgrading)Central1Condo.Com (continually upgrading)– Booking forms (elevator, amenity room)Booking forms (elevator, amenity room)– Abloy cylinder order formAbloy cylinder order form– General Information (e.g. programming thermostat) General Information (e.g. programming thermostat) – Declarations, Bylaws, RulesDeclarations, Bylaws, Rules– Amenity Room Booking (must book if 8 or more in attendance)Amenity Room Booking (must book if 8 or more in attendance)– Contact InformationContact Information

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Reminders for Owners and Reminders for Owners and ResidentsResidents

• Reminder notices will be issued to residents, followed by warnings, Reminder notices will be issued to residents, followed by warnings, administration fees, etc.administration fees, etc.

• Balconies/TerracesBalconies/Terraces– Permitted: Plants (completed form to property manager), Screen Door (completed Permitted: Plants (completed form to property manager), Screen Door (completed

form to property manager) quality seasonal furniture, electric barbeques onlyform to property manager) quality seasonal furniture, electric barbeques only– Not Permitted: items on hanging on railings, gas/charcoal barbeques, bikes, non-Not Permitted: items on hanging on railings, gas/charcoal barbeques, bikes, non-

patio items (e.g. tires, picnic coolers, sports equipment, boxes), non-outdoor rugs, patio items (e.g. tires, picnic coolers, sports equipment, boxes), non-outdoor rugs, dead plants, laundry racks/clothes drying, kitty litter pans, etc.dead plants, laundry racks/clothes drying, kitty litter pans, etc.

– Weeding of terraces is an owners responsibility (extra strength vinegar)Weeding of terraces is an owners responsibility (extra strength vinegar)

• Parking Spots Parking Spots – No storage of any items, only bikes allowed. No storage of any items, only bikes allowed. – Can only be rented to residents and sold to unit ownersCan only be rented to residents and sold to unit owners

• Noise & Disturbances:Noise & Disturbances:– All residents are entitled to quiet enjoyment of their unit. All residents are entitled to quiet enjoyment of their unit. – Report disturbances to Concierge/Security GuardReport disturbances to Concierge/Security Guard– Keep Log and Report to Ottawa By-Law (3-1-1)Keep Log and Report to Ottawa By-Law (3-1-1)– City Councilor (Catherine McKenny) for issues outside the building (613-580-2424)City Councilor (Catherine McKenny) for issues outside the building (613-580-2424)

• Bicycles – not allowed on balconies/terraces nor in elevators or lobbiesBicycles – not allowed on balconies/terraces nor in elevators or lobbies

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• Smoking:Smoking:– Not permitted in any common area, including 2Not permitted in any common area, including 2ndnd level courtyard and stairwells level courtyard and stairwells– Do not throw cigarette butts from balconies – use disposal receptaclesDo not throw cigarette butts from balconies – use disposal receptacles

• Control Your Pets: Control Your Pets: – – Not allowed in Courtyard, Fitness Room, Amenity Room.Not allowed in Courtyard, Fitness Room, Amenity Room.– Must be on leash in all other common element areas of the building (ingress and Must be on leash in all other common element areas of the building (ingress and

egress)egress)

– “– “No dog business” on exterior landscaping beds and exclusive use common No dog business” on exterior landscaping beds and exclusive use common element element balconies/terraces. balconies/terraces.

• Damage & Theft:Damage & Theft:– Residents are responsible for the actions of their guestsResidents are responsible for the actions of their guests– Theft and damage of condo assets cost everyoneTheft and damage of condo assets cost everyone

• AV System, Damaged Walls, Pool Table, Fire Exit Map, Fire Extinguishers, AV System, Damaged Walls, Pool Table, Fire Exit Map, Fire Extinguishers, Glued Door Bolts, Open Fire HoseGlued Door Bolts, Open Fire Hose

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• The Condo Corporations responsibility ends at a unit door. The owner is The Condo Corporations responsibility ends at a unit door. The owner is responsible for all items within their unit, such asresponsible for all items within their unit, such as– Entry Doors - handles/locksEntry Doors - handles/locks– Replacement and/or cleaning of filtersReplacement and/or cleaning of filters– Issues with the HRV (Heat Recovery Ventilator) and HVAC (Heating, Ventilating Issues with the HRV (Heat Recovery Ventilator) and HVAC (Heating, Ventilating

and Air Conditioning) and Air Conditioning) – Items related to Interior Plumbing and FixturesItems related to Interior Plumbing and Fixtures– Noises generated from within the unitNoises generated from within the unit– Wood FlooringWood Flooring

• Importance of Unit Owner’s carrying their own personal insuranceImportance of Unit Owner’s carrying their own personal insurance– Provide a copy of the standard unit description and corporation’s updated Provide a copy of the standard unit description and corporation’s updated

insurance certificate to their insurance company to ensure that you are properly insurance certificate to their insurance company to ensure that you are properly covered covered

– Included with your purchase and sale documentsIncluded with your purchase and sale documents– Can request documents from our Property ManagerCan request documents from our Property Manager

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Backup Slide

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4 Year Condo Fee Summary

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Initial Year 1 Year 2 Year 3 Year 4

June 2012- May

2013 June 2013-May 2014 June 2014 - May 2015 June 2015 - May 2016

% Change % Change

% Change

Total Condo Fees $861,778.72 $1,073,377.50 24.55% $1,094,845.05 2.00% $1,033,578.32 -5.60%

Operational $749,372.80 $778,873.50 3.94% $794,450.46 2.00% $727,176.32 -8.47%Reserve Fund $112,405.92 $294,504.00 162.00% $300,394.59 2.00% $306,402.00 2.00%

Price Per Foot 37.9 cents 47.1 cents 48.0 cents 45.3 cents

Green Loan Repayment Fund – ($95,043 remaining on October 1, 2017)

$80,000 – invested in a 1yr – 90 day cashable

GIC at 1.55%

Operating Reserve Fund

$70,000 – invested in a 1yr - 24hr cashable

GIC at 1.45%

June 1, 2015 to May 31, 2016 June 1, 2015 to May 31, 2016 BudgetBudget

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June 1, 2014 - May 31, 2015

June 1, 2014 - May 31 2015

June 1, 2015- May 31, 2016

Categories Year 3 (Budget) Forecast Year 4 Budget Notes:

Revenue -$ 1,257,433.05 -1,263,581.86 - 1,155,228.32

Common Element Fees -$ 1,094,845.05 -1,094,861.52 - 1,033,578.32 5.6% decrease over previous year

Miscellaneous Income -$ 8,000.00 - 14,132.34 - 4,000.00 Operating Fund Interest, Amenity Room Rental, Key Fobs

Surplus from Previous Year -$ 154,588.00 - 154,588.00 - 117,650.00 From Surplus

Administration $ 116,137.44 112,942.89 108,439.32

Management $ 87,787.44 81,034.56 74,539.32 Based upon new agreement for 2015-2016

Insurance $ 26,500.00 31,004.00 32,550.00

Office Expenses $ 1,500.00 645.98 1,000.00

Bank Charges $ 350.00 258.35 350.00

Utilities $ 270,398.03 213,902.33 244,970.00

Electricity $ 96,306.83 98,857.10 101,970.00 Reduced by 20% for Shared Facility Agreement

Water $ 69,284.80 47,775.55 55,000.00

Gas $ 65,206.40 59,693.72 65,000.00 Reduced by 20% for Shared Facility Agreement

Utilities Contingency $ 30,000.00 15,000.00 not required

Telephones/Wireless/Cable $ 8,000.00 7,575.96 8,000.00

Generator Fuel $ 1,600.00 moved to generator expense

Consulting $ 19,500.00 12,998.02 13,500.00

Legal $ 10,000.00 4,820.02 6,000.00

Audit (Financial) $ 6,500.00 6,500.00 7,500.00

Reserve Fund Study $ - - - 2016 update required

Performance Audit $ 1,000.00 1,678.00 not required

General Consulting $ 2,000.00 - - covered in contingency


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Maintenance & Repairs $ 40,000.00 18,348.22 66,000.00

General Rep. & Main $ 25,000.00 15,696.22 40,000.00

Fitness Equipment 5,000.00

Contingency 15,000.00

Building Supplies $ 15,000.00 2,652.00 6,000.00

Contracts $ 212,250.00 149,667.51 203,700.00

Elevator Maintenance $ 35,000.00 29,666.51 35,000.00

Life Safety Inspections & Monitoring

$ 10,000.00 5,671.08 7,000.00 Monthly and annual testing, Carbon monoxide testing, alarm monitoring

Fitness Equipment Maintenance $ 2,000.00 2,514.41 3,500.00

Garage Overhead Doors $ 10,000.00 6,944.16 15,000.00 50% of Gladstone Door Costs is Shared Facility Agreement

Garage Cleaning $ 13,500.00 3,684.00 4,000.00

Compactor Lease/ Maintenance $ 25,000.00 17,587.38 18,000.00 Lease payment plus maintenance and repairs

Waste Removal $ 12,000.00 1,518.79 5,000.00

General Cleaning $ 56,500.00 53,022.33 65,000.00

Carpet Cleaning $ 4,000.00 Included in general cleaning

Generator Inspections $ 7,000.00 6,846.82 7,000.00 Maintenance plus fuel

HVAC Maintenance $ 15,000.00 1,533.88 15,000.00 increase frequency to semi monthly contract, misc repairs

Landscaping $ 3,000.00 2,292.23 10,000.00 planters, EXEL green roof maintenance (1st year for roof, and previously volunteers for rest)

Snow Removal $ 2,750.00 3,386.61 2,500.00

Water Treatment System $ 7,000.00 6,999.31 7,400.00

Window Cleaning $ 9,500.00 8,000.00 9,300.00


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Other $ 127,000.00 20,859.88 31,017.00

General Contingency $ 25,000.00 325.00 15,000.00

Website $ 4,000.00 1,661.32 1,500.00

Green Building Cost Recovery Loan (Interest)

$ 98,000.00 18,873.56 14,517.00 Total annual cost for Green Loan add Interest and Principal

Staff $ 89,800.00 71,791.21 77,200.00

Building Staff $ 45,000.00 40,904.02 45,000.00

Employee Benefits $ 6,300.00 included in payroll acct

After-hours On-Call $ 7,500.00 6,153.80 6,200.00

Weekend Security/ Mobile Patrol $ 31,000.00 24,733.39 26,000.00

Total Operating Expenses (excluding Reserve Fund)

$ 875,085.47 600,510.06 744,826.32 Decrease over previous year budget

Adjustments to Cash

Green Loan Principal Payments 78,949.72 84,000.00 5 yr loan expires on Oct 1, 2017, with $95.043 balance remaining

Green Load Retirement Fund 20,000.00

RESERVE FUND CONTRIBUTION $ 300,394.59 300,484.56 306,402.00

Total Cash Outflow $ 1,175,480.06 979,944.34 1,155,228.32

Year End Surplus/Deficit $ 81,952.99

(Surplus)/Deficit -$ 81,952.99 -$ 283,637.52 $ -

Previous Year (Surplus)/Deficit - 165,987.52

TOTAL (excluding Reserve Fund) $ 1,175,480.06 - 283,637.52 - 165,987.52 Unaudited estimated surplus of $283,637.52 on May 31, 2015. Estimated surplus of $105,987.52 on May 31, 2016 after $60,000 moved to Green Loan Retirement Fund.

30 Year Reserve Fund Cash Flow

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Year Ending In May 31

Opening Balance

Annual Contribution*

Percent Increase over

Previous Year

Other ContributionEstimated Future

Inflated Expenditures

Projected Interest Earned

Closing Balance

2013 112,406 112,406 2014 112,406 294,504 162.0% 7,790 414,699 2015 414,699 300,394 2.0% 16,947 732,040 2016 732,040 306,402 2.0% 6,367 26,462 1,058,536 2017 1,058,536 312,530 2.0% 40,050 35,843 1,366,859 2018 1,366,859 318,780 2.0% 45,787 1,731,427 2019 1,731,427 325,156 2.0% 70,948 55,756 2,041,391 2020 2,041,391 331,659 2.0% 66,217 2,439,266 2021 2,439,266 338,292 2.0% 4,687 78,182 2,851,054 2022 2,851,054 345,058 2.0% 69,315 89,668 3,216,464 2023 3,216,464 351,959 2.0% 101,773 3,670,197 2024 3,670,197 358,998 2.0% 289,706 111,145 3,850,634 2025 3,850,634 366,178 2.0% 12,682 120,821 4,324,952 2026 4,324,952 373,502 2.0% 5,174 135,273 4,828,553 2027 4,828,553 380,972 2.0% 935,510 136,539 4,410,553 2028 4,410,553 388,591 2.0% 161,504 135,723 4,773,363 2029 4,773,363 396,363 2.0% 149,146 5,318,873 2030 5,318,873 404,291 2.0% 165,631 5,888,794 2031 5,888,794 412,376 2.0% 19,995 182,550 6,463,724 2032 6,463,724 420,624 2.0% 793,962 188,312 6,278,698 2033 6,278,698 429,036 2.0% 153,053 192,501 6,747,182 2034 6,747,182 437,617 2.0% 1,332,271 188,996 6,041,524 2035 6,041,524 446,369 2.0% 97,397 186,480 6,576,977 2036 6,576,977 455,297 2.0% 567,684 195,624 6,660,213 2037 6,660,213 464,403 2.0% 4,075,780 145,636 3,194,472 2038 3,194,472 473,691 2.0% 1,368,265 82,416 2,382,313 2039 2,382,313 483,165 2.0% 878,545 65,539 2,052,472 2040 2,052,472 492,828 2.0% 3,414 68,915 2,610,801 2041 2,610,801 502,684 2.0% 6,964 85,760 3,192,281 2042 3,192,281 512,738 2.0% 3,599,637 49,465 154,847

30 Year Reserve Fund Cash Flow

27

Year Ending In May 30

Opening Balance

Annual Contribution*

Percent Increase over

Previous Year

Other ContributionEstimated Future

Inflated Expenditures

Projected Interest Earned

Closing Balance

2013 112,406 143,630 256,036 2014 256,036 294,504 162.0% 12,099 562,638 2015 562,638 300,394 2.0% 21,385 884,417 2016 884,417 306,402 2.0% 6,367 31,033 1,215,485 2017 1,215,485 312,530 2.0% 40,050 40,552 1,528,516 2018 1,528,516 318,780 2.0% 50,637 1,897,934 2019 1,897,934 325,156 2.0% 70,948 60,751 2,212,892 2020 2,212,892 331,659 2.0% 71,362 2,615,913 2021 2,615,913 338,292 2.0% 4,687 83,481 3,033,000 2022 3,033,000 345,058 2.0% 69,315 95,126 3,403,869 2023 3,403,869 351,959 2.0% 107,395 3,863,224 2024 3,863,224 358,998 2.0% 289,706 116,936 4,049,452 2025 4,049,452 366,178 2.0% 12,682 126,786 4,529,734 2026 4,529,734 373,502 2.0% 5,174 141,417 5,039,478 2027 5,039,478 380,972 2.0% 935,510 142,866 4,627,806 2028 4,627,806 388,591 2.0% 161,504 142,240 4,997,134 2029 4,997,134 396,363 2.0% 155,859 5,549,357 2030 5,549,357 404,291 2.0% 172,545 6,126,192 2031 6,126,192 412,376 2.0% 19,995 189,671 6,708,245 2032 6,708,245 420,624 2.0% 793,962 195,647 6,530,554 2033 6,530,554 429,036 2.0% 153,053 200,056 7,006,594 2034 7,006,594 437,617 2.0% 1,332,271 196,778 6,308,718 2035 6,308,718 446,369 2.0% 97,397 194,496 6,852,187 2036 6,852,187 455,297 2.0% 567,684 203,880 6,943,680 2037 6,943,680 464,403 2.0% 4,075,780 154,140 3,486,442 2038 3,486,442 473,691 2.0% 1,368,265 91,175 2,683,042 2039 2,683,042 483,165 2.0% 878,545 74,561 2,362,223 2040 2,362,223 492,828 2.0% 3,414 78,208 2,929,845 2041 2,929,845 502,684 2.0% 6,964 95,331 3,520,896 2042 3,520,896 512,738 2.0% 3,599,637 59,323 493,321

Documents

1 CENTRAL 1 O.C.S.C.C. No. 903 Annual General Meeting – November 18, 2015