Financial Resources

Most co-ops in BC work with outside professionals – bookkeepers, accountants, management companies – to assist with their finances. Support can include recordkeeping, budgeting, revenue collection and other elements. Here you will find some resources that can be particularly helpful in connection with managing subsidy programs and rent supplement agreements, and with defining the role of a potential finance committee.  

 

We’ve also recently added a suite of resources concerning financial controls.  

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Arrears Payment Agreement

Arrears Policy – Discussion Notes

Data Handling and Storage

Demand for Payment

Finance Committee – Job Description

Finance Policies – Discussion Notes

Financial Controls 1: Background

Financial Controls 2: General Guidelines

Financial Controls 3: Budgeting and Forecasting

Financial Controls 4: Accounting and Reporting Systems

Financial Controls 5: Authorization and Approval Processes

Financial Controls 6: Guardrails on Personnel and Paying Members

Financial Controls 7: Audits and Fraud

Financial Controls 8: Training and Education

Financial Controls 9: Financial Document Retention

Financial Controls: Document List

Financial Reporting Policy

Monthly Arrears Report to the Board

Notice of Board Meeting – Termination for Arrears

Share Purchase – Loans Available to Co-op Applicants

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