Common use of Operating Surplus Clause in Contracts

Operating Surplus. The Provider may retain the Operating Surplus and it may be used in order of priority as follows: a. remedy an Operating Deficit incurred in a previous Fiscal Year; b. establish and maintain the Operating Reserve; c. transfer to the Capital Fund; d. improve affordability of the Market Rent Units while still maintaining the resident income mix; or e. any other purpose that is consistent with the provision of affordable housing, as approved by BC Housing.

Operating Surplus. The Provider may retain the Operating Surplus and it may be used in order of priority as follows: a. remedy an Operating Deficit incurred in a previous Fiscal Year; b. establish and maintain the Operating Reserve; c. transfer to the Capital Fund; d. improve affordability of the Market Rent Units while still maintaining the resident income mix; or e. d. any other purpose that is consistent with the provision of affordable housing, as approved by BC Housing.