text: As at December 31, 2013, no mortgages or vendor debt had floating interest rates except for four demand loans totaling $3.9 million. These 
  loans have an interest rate of prime plus 1.0% ‑ 2.0% (December 31, 2012 ‑ prime plus 1.0% ‑ 1.5%). Killam also has one construction loan of 
  $14.8 million with a floating interest rate of prime plus 0.75% and consequently, Killam is exposed to short‑term interest rate risk on these loans. 
  
  **Liquidity Risk**
  Liquidity risk is the risk that the Company may not have access to sufficient debt and equity capital to fund its growth program and/or refinance 
  its debt obligations as they mature. Senior Management manages the Company’s cash resources based on financial forecasts and anticipated 
  cash flows. The maturities of the Company’s long‑term financial liabilities are set out in Notes 12 to 15 of the consolidated financial statements. 
  The Company structures its financings so as to stagger the maturities of its debt, thereby minimizing the Company’s exposure to liquidity risk in 
  any one year. In addition, the Company’s apartments qualify for CMHC insured debt, reducing the refinancing risk on mortgage maturities. The 
  Company’s MHCs do not qualify for CMHC insured debt, however, they continue to have access to mortgage debt. 