Page 8 - CHC Annual Report - 2013

2013 AUDITED FINANCIALS * CHC operates within the parameters of the Housing Services Act (HSA) established by the province of Ontario. CHC’s primary source of revenue is derived from tenant rents representing 45.5% percent of our annual revenue. Approximately 40% of CHC’s expenditures include utilities, property taxes and insurances. CHC provides approximately 75% of all Rent-Geared-To-Income units in Windsor and Essex County. The Public Housing Program is 100% RGI ( Rent Geared to Income) and represents 3538 households. The Non-Profit Family Program provides housing to families for both Market Rent and RGI. About 60% of this program is RGI and 40% of the program is dedicated to market rent tenants. The Seniors Non-Profit Program provides affordable market rent units to seniors in our community. In total, our market rent units comprise about 18% of our portfolio and these revenues help to support and run both the Non- Profit Family and Non -Profit Senior portfolios. 2013 Tangible Capital Assets (NBV) $111,936,983 Land 2% 0% 2013 CHC - Consolidated Statement of Revenue $36,749,990 $45,595,395 3% Building & 8% Parking Lot Rental revenue 18,525,095 41% $64,110,912 Service Manager Operating subsidy Appliances 14,309,387 57% $1,733,536 50% Capital subsidy 2,941,460 39% Other Other 974,048 $497,139 2013 CHC - Consolidated Statement of Expenditures $ 37,592,915 2% Social Housing Management 6,904,317 4% Interest 1,599,025 18% Amortization of tangible capital 20% assets 5,666,863 Materials and services 4% 6,059,970 Bad debts 237,602 Utilities 7,564,147 15% Municipal taxes (note 4) 20% 7,398,319 Insurance premiums 701,804 16% Rent supplement costs 1% 1,460,868