4. FUNDING

 

There are three sources which provide funds to operate the Centre:

 

  • All the costs of operating and maintaining the building are the responsibility of BHRSO as defined in the lease. These costs include heating, electricity, salaries of the Office Staff, cleaners and repairs to the HVAC System and equipment. These costs are recovered by BHRSO through the monthly allocation process from condominium fees as per the Reciprocal Agreements.

 

  • Improvement/enhancement costs are funded through a $1.00 per unit per month charge, known as the Levy Fund, included in condominium fees and held by BHRSO. Funds will be used to make various purchases and facility changes, as proposed by the Board and approved in an annual budget process.

 

  • BHCC operational expenses for such items as minor repairs and improvements, kitchen and washroom deep cleaning, miscellaneous equipment and materials, etc. are funded through Events, the Honour Bar and Private Bookings.