Board of Directors Corner

Dear Fellow CTC Residents,

Welcome to Winter! After the shocking cold this week I'm sure the rest of winter will feel positively warm! I hope everyone enjoyed a slower pace over winter break and that this note finds you enjoying the slowly lengthening days and settling in to the routines of the new semester. 

At our last board meeting we approved the budget for the 2019-2020 fiscal year that starts in July. There are two main expense portions to our budget: the University requirement for use of and to maintain the property, and internal costs of CTC (administrative/co-op expenses for community programming and staff, utilities such as electric/water/gas/internet, grounds maintenance such as lawn maintenance and snow removal, and general maintenance repair and staff costs).While CTC has some control over our internal budget, the University requirement portion is fixed by the University and is out of our control. For the next fiscal year the University requirement is increasing by 4%, on par with previous University increases. While last year we were able to keep the rent at the same rate, we can no longer absorb the University's increase without increasing rent. Our dedicated staff has worked to minimize CTC's internal expenses overall to partially absorb the University's increased requirement so that our rent will only go up by 2.2%. Please know that the board and CTC staff do not take these increases lightly or as a matter of course. The new rent scheduleis set, but don't worry--it doesn't go up until July! 

We also voted on a slightly modified fee schedulefor this fiscal year. Unlike the rent, these new rates will go into effect on March 1st, 2019. Be advised of new and adjusted fees to the schedule, such as the non-member surcharge.

We look forward to seeing everyone at the annual members meeting on April 3, 2019! It's a wonderful opportunity to gather the entire community together as we elect our new board. Currently there are two open board seats due to board members needing to step down for various reasons. Additional seats will be voted on at the election. In the meantime, if you have any interest in serving on the board we'd love to have you! If you're curious, you're welcome to sit in on a monthly board meeting to see what it's like. Joining the board is a great way to meet people, learn about the inner workings of this housing cooperative, and make a real difference in directing its future. 

Stay warm! 

Kate
 

Board of Directors Meeting are the 3rdTuesday of every month at 6:00pm. 

Share your improvement suggestions or compliments by way of emailing, online or in the office.

Phone: 651-646-7526
Fax: 651-646-3319