Approved by the Board of Directors on August 26, 202
\nApproved by the members on December 16, 2025 by a 2\/3 majority vote<\/p>\n
Table of Contents of the Bylaw – \u00a0PDF below<\/p>\n
Purpose of this by-law<\/p>\n
The purpose of this Spending By-law is to help the Co-op control and track its spending. It sets out<\/em> Repeals Attachment \u00a0A Confidentiality Agreement – Bids and contracts<\/p>\n\n\t\t
\nthe rules for how the Co-op\u2019s money is spent and who must give permission for each type of spend-<\/em>
\ning. Ultimate control of spending rests with the membership who must approve the annual budgets<\/em>
\neach year.<\/em><\/p>\n
\nPriority of this By-law and conflict with other by-laws
\nReferences to other by-laws
\nLaws that apply to Woodsworth Co-op
\nCo-operative Corporations Act and Human Rights Code
\nFunding program laws
\nChanging by-laws
\nDefinitions
\nAuthorization of spending
\nNo personal benefit: about conflict of interest
\nOperating budget
\nStaffing and Management
\nCapital budget
\nMajor commitments
\nInterest on savings
\nBudget control
\nDetailed monthly report to the Board
\nReporting to members
\nEmergency expenses
\nWhat are emergency expenses
\nAuthorization of un-budgeted emergency expenses
\nReporting un-budgeted emergency expenses
\nDisability accommodation expenses
\nFair, open and objective business practices
\nConsultants for capital contract administration services
\nContracts
\nManagement spending
\nBids and quotes: rules for all spending except routine or non-discretionary
\nExpenditures under 1% of total market housing charges budget (TMHC)
\nExpenditures between 1% and below 2.5% of the TMHC
\nExpenses of 2.5% of the TMHC or more
\nConfidentiality Agreement – bids and contracts
\nChoosing a quote or bid
\nSigning officers<\/p>\n