Approved by the Members of Cameo Co-op on December 3, 2010
As our homes age, the cost of upkeep, repair and replacement increases. We will need to invest more resources to maintain our homes to a reasonable standard over their lifetime.
Increased revenue will have to come from higher housing charges,available sources or investment. This is an investment in safe, secure homes for our Members.
At the same time, we want our homes to be affordable for Members.
From now until the end of the operating agreement in 2015, we will continue to provide subsidy to any eligible Members. If there is not enough subsidy, we may need to increase the percentage of income used to calculate housing charges, increase the minimums and/or other options.
We will call on government to continue providing subsidy after our operating agreement ends.
As governments may not help, we need to develop a plan that will include:
- projecting the co-op’s financial position in 2015 and beyond and our ability to continue to provide housing charge assistance for income-tested Members
- possible changes in 2015 to requirements for proof of income and housing charge calculations for income-tested Members.
We depend on each other. The contribution of our volunteers is important to the co-op. But we will also invest in the skills we need to do the work by hiring outside skills or training members
We will look at core management standards to assess how we’re doing and plan for the future, for example, keeping our co-op in good repair, managing the finances, keeping the co-op full, meeting our legal requirements, and supporting good governance.
We believe that co-op education is critical to our success and needs to be continued to ensure the ongoing well-being of our co-op.
We believe in the principles of democracy and co-operation and understand that an interested and involved Membership is essential to the long-term success of our co-op. While considering the needs of the co-op, we will endeavour to keep our units filled with Members who:
- share our core values
- accept the responsibility of Membership, and
- are willing to:
- take pride in their homes
- meet their financial obligations
- follow Co-op Act, Rules and policies, and
- get involved in the co-op.