Page 12 - Balance | CHC Annual Report 2020

C H C
a n n u a l
r e p o r t

STATEMENT

Consolidated Operations 2020

2020 CONSOLIDATED REVENUE 2020 WINDSOR ESSEX CHC EXPENDITURES
$49,598,000 $43,949,000
Other Rent
5,322,000 Rental Revenue Professional Fees Supplement
22,580,000 Costs 1,572,000 Salaries, Wages
363,000
Insurance and Benefits
Subsidy: Capital Premiums 7,937,000
3,199,000 1,015,000
Office
Administration
Subsidy: Rental Municipal Taxes 1,495,000
Supplement 7,943,000
1,299,000
Interest
538,000
Utilities
6,830,000
Amortization
Bad Debts 5,611,000
Subsidy: Operating 382,000
17,198,000 Social and Recreational Materials and
Services
Programs
10,188,000
75,000

2020 Windsor Essex CHC 2020 Windsor Essex CHC
REVENUES EXPENDITURES

TOTAL: $49.5 million TOTAL: $43.9 million
Including: Including:
$22.6 million in Rental Revenues $10 million in Materials and Services
$17.2 million in Service Manager Operating Subsidies $7.9 million in Municipal Property Taxes
$1.3 million in Rental Supplement Subsidies $7.9 million in Salaries, Wages and Benefits
$3.2 million in Capital Subsidies $6.8 million Utilities
$5.3 million in other Revenues, such as: solar, rooftop $1.5 million Office Administration
antenna rentals, parking and laundry. This also includes
$1 million in Insurance Premiums
a one-time funding for capital projects.
About 50% of CHC's expenses are considered not directly
Policies set through Housing Services Act (HSA) established by the controllable by the corporation. These expenses include:
province, directly impact and restrict CHC revenue. insurance, municipal taxes, utilities, amortization and interest.

CHC continually monitors our financial position and provides regular updates to the Board of Directors. In compliance with Ontario Business Corporations Act,
KPMG, the appointed auditors for CHC, completed an audit of our financial position from January 1, 2020, to December 31, 2020. Those findings have been
summarized on pages 12-16 of this annual report

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