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Cost Factors To Be Used In 2015 Fiscal Year Budgets For Private and Municipal Non-Profit Housing Corporations

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Ontario SHNotifications

Subject: Cost Factors To Be Used In 2015 Fiscal Year Budgets For Private and Municipal Non-Profit Housing Corporations.

Legislation Regulation unchecked box Legislation/Regulation                                                                                        Release 14-05
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The cost factor is a regional inflationary factor which is used in the calculation of the operating subsidy for the budgets of private and municipal non-profit housing corporations. The cost factor for each region is reviewed annually and adjusted in accordance with changes in the Consumer Price Index for the costs of housing operations.

This notification applies to private and municipal 1978, (Section 95) non-profit housing providers currently under administration by local Service Managers, the Ministry of Health and Long Term Care or the Ministry of Community and Social Services.

Background

All private and municipal non-profit housing providers are expected to use the cost factor specific to their region in the calculation of the operating subsidy for their fiscal year beginning 2015. The cost factor is used in Line 532 of the Private Non-Profit Operating Budget Form 810(01/95), and in Line 432 and Line 532 of the Municipal NonProfit Operating Budget Form 819(01/95). When used in the budget form, the cost factor is expressed as 1 plus a decimal number (e.g. 2.10% would be expressed as 1.0210).

Cost Factors

Region Cost Factors for 2015
North-western 2.51%
Northern 2.39%
Eastern 2.96%
Central 2.46%
Metro 2.56%
Southern 2.69%
South-western 2.60%

 
For more information, please contact the ministry:

Erich Freiler,
Manager, Infrastructure and Asset Management
Telephone: (416) 585-6193
E-mail: Erich.Freiler@ontario.ca

Keith Extance
Director,
Housing Funding and Riskh Management Branch