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Cost Factors To Be Used In 2017 Fiscal Year Budgets For Private and Municipal Non-Profit Housing Corporations

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Ontario SHNotifications          

Subject: Cost Factors To Be Used In 2017 Fiscal Year Budgets For Private and Municipal Non-Profit Housing Corporations

SHB - unchecked box Legislation/Regulation Release 16-05
SHB - unchecked box 
Operational


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 2016. 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 Non-Profit 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 Factor for 2017

North-western

2.51%

Northern

2.39%

Eastern

2.95%

Central

2.46%

Metro

2.55%

Southern

2.69%

South-western

2.60%

 

For more information, please contact the ministry:

Davidson Omole
Telephone: 416-585-6314
E-mail: Davidson.Omole@Ontario.ca

Erich Freiler
Telephone: 416-585-6193
E-mail: Erich.Freiler@Ontario.ca

Keith Extance
Director, Housing Funding & Risk Management Branch
Ministry of Housing