Sunday, 15 May 2016

Inflation Rates & Maintenance Fees

Every year in the month of September, unit owners receive the details of the new fiscal year, more or less with the same broken record blaming the unreasonable increases in monthly “Maintenance Fees” on the dramatic rise in energy/hydro prices. According to the operational doctrine of The Board and management experts who prepare the budget, it is next to impossible to limit the increases to the annual inflation rates published by “Statistics Canada”.

One striking case study that seriously undermines the argument of The Board and the management experts who prepare the budget on behalf of The Board, is the annual budget increase of 2.76 per cent  
adopted by The Toronto Police Services Board for the fiscal year 2015/2016.

The Police force of the city owns a headquarter, dozens of police stations, labs, warehousing facilities and all of them consume energy purchased at the same commercial rate all consumers in Toronto (including our Board) are invoiced for.

The “Owners Alliance” has addressed to The Board, multiple times during the last few years, the following question: “If the Federal Government of Canada can run the entire country based on inflation figures published by Statistics Canada, why can’t The Board limit “Maintenance Fees” increases to the same inflation figures?”

With the release of the annual budget figures of The Toronto Police Services, we rephrase the old question and ask our Board: “Why the five decision makers are refusing to confine the increase of “Maintenance Fees” to the same figure of 2.76% adopted by The Police Force, and spare us from the heavy financial burden of contributing hard earned money to the deeply rooted and well established unsustainable trend of 100% increase in “Maintenance Fees” every 10 years??????????? 

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