Email this pageCost Factors To Be Used In 2008 Fiscal Year Budget For Private and Municipal Non-Profit Housing Corporations

Subject: Cost Factors To Be Used In 2008 Fiscal Year Budget For Private and M unicipal Non-Profit Housing Corporations

Legislation/Regulation                                                             Release 07-08

Operational

The cost factor is a regional inflationary factor which is used in the calculation of operating subsidy in 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.

All private and municipal non-profit housing providers must use the cost factor specific to their region in the calculation of the operating subsidy for their fiscal year beginning 2008. 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).

Further instructions on budget preparation are provided in the ministry’s publication A Guide For Non-Profit Housing Corporations, Operating Budget and Annual Information Return, Non-Profit Housing Program, which was released in January 1995.

Region Cost                               Factor for 2008

Northwestern                                2.07%

Northern                                       2.08%

Eastern                                        2.24%

Central                                         2.07%

Metro                                           1.72%

Southern                                       2.07%

Southwestern                                 2.07%

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