6. FUNDING

There are three funding sources providing monies to operate the Centre:

1. All the costs of operating and maintaining the building are the responsibility of BHRSO as defined in the lease. These costs include heating, electricity, salary of the Office Staff, cleaners and repairs to the HVAC System and equipment. These costs are recovered by BHRSO through the monthly allocation process from condominium fees as per the Reciprocal Agreements.
2. Improvement/enhancement costs are funded through a $12.00 per unit per year charge, known as Capital Reserve Fund (CRF). BHCC will issue an invoice to each Condominium Corporation in November, for the annual fee. The fees are included in condominium fees. A separate accounting will be kept for the Capital Reserve Funds. The funds will be used for various capital and leasehold improvements and large one-time project purchases, as proposed by the Board and approved in an annual budget process.
3. BHCC operational expenses for such items as minor repairs and improvements, kitchen and washroom deep cleaning miscellaneous equipment and materials, are funded through Activity Fees/Supporter Card sales, Events, Honour Bar, Donations, etc.

6. FUNDING

There are three funding sources providing monies to operate the Centre:

All the costs of operating and maintaining the building are the responsibility of BHRSO as defined in the lease. These costs include heating, electricity, salary of the Office Staff, cleaners and repairs to the HVAC System and equipment. These costs are recovered by BHRSO through the monthly allocation process from condominium fees as per the Reciprocal Agreements.
Improvement/enhancement costs are funded through a $12.00 per unit per year charge, known as Capital Reserve Fund (CRF). BHCC will issue an invoice to each Condominium Corporation in November, for the annual fee. The fees are included in condominium fees. A separate accounting will be kept for the Capital Reserve Funds. The funds will be used for various capital and leasehold improvements and large one-time project purchases, as proposed by the Board and approved in an annual budget process.
BHCC operational expenses for such items as minor repairs and improvements, kitchen and washroom deep cleaning miscellaneous equipment and materials, are funded through Activity Fees/Supporter Card sales, Events, Honour Bar, Donations, etc.