Approved by the Board of Directors on August 26, 202
Approved by the members on December 16, 2025 by a 2/3 majority vote
Table of Contents of the Bylaw – PDF below
Purpose of this by-law
The purpose of this Spending By-law is to help the Co-op control and track its spending. It sets out
the rules for how the Co-op’s money is spent and who must give permission for each type of spend-
ing. Ultimate control of spending rests with the membership who must approve the annual budgets
each year.
Repeals
Priority of this By-law and conflict with other by-laws
References to other by-laws
Laws that apply to Woodsworth Co-op
Co-operative Corporations Act and Human Rights Code
Funding program laws
Changing by-laws
Definitions
Authorization of spending
No personal benefit: about conflict of interest
Operating budget
Staffing and Management
Capital budget
Major commitments
Interest on savings
Budget control
Detailed monthly report to the Board
Reporting to members
Emergency expenses
What are emergency expenses
Authorization of un-budgeted emergency expenses
Reporting un-budgeted emergency expenses
Disability accommodation expenses
Fair, open and objective business practices
Consultants for capital contract administration services
Contracts
Management spending
Bids and quotes: rules for all spending except routine or non-discretionary
Expenditures under 1% of total market housing charges budget (TMHC)
Expenditures between 1% and below 2.5% of the TMHC
Expenses of 2.5% of the TMHC or more
Confidentiality Agreement – bids and contracts
Choosing a quote or bid
Signing officers
Attachment A Confidentiality Agreement – Bids and contracts