Page 3 - TheGardensOfEdgemereBrochure
P. 3
2017 Year in Review
Prudent Maintenance & Financial Management
Board’s objec0ve: fiscally responsible management and streamlined opera0ons with focus on controlling costs as well as
strategic investments to preserve and increase property value
• Surplus: $52K (2.8% of Budget)
• Reserve Fund: closing balance of $799K
• U0lity costs: $12K (2%) below last year due to decreases in Ontario Hydro rates and lower water consump.on
• Maintenance fees: 0.5% ↑ (+$49K) for F'18 with Key Highlights as
follows:
• +$23K (7.45% ↑) towards incremental Reserve Fund contribu.ons (as
per study)
• +$30K (5%↑) toward higher U.lity costs
TO BE UPDATED
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