Reserve funds

Home/Tag: Reserve funds

Inheriting a Financial Mess

2020-08-04T16:21:05-05:00

By Dale Gifford, PRA, RS, PCAM, AMS, CMCA Regional Project Manager, Complex Solutions, LTD - Silver Sponsor 2020 I was just elected to the board. I have read the reserve study and we are so far behind. How willwe ever catch up? As a new board member you may have inherited the financial mess that others have created.Unfortunately some associations are in a less than ideal financial situation. It is important foryou to properly perform your responsibilities as a board member, and to try and get theassociation on the right track to an ideal financial position. As a board you need [...]

Inheriting a Financial Mess2020-08-04T16:21:05-05:00

How Can My Association Use the Reserve Funds?

2020-08-04T16:22:01-05:00

By Dale Gifford, PRA, RS, PCAM, AMS, CMCA Regional Project Manager, Complex Solutions, LTD - Silver Sponsor 2020 You have your association’s reserve analysis in hand, you have created a reserve fund line itemin your financials, you have opened a reserve fund bank account, and you have made your firstdeposit of reserve funds into your reserve fund bank account. You have reserve expenses andyou want to use those reserve funds, so what are the guidelines you need to follow whenspending the money in your reserve fund? (9) (a) Unless a majority of the members of the association of unit owners vote [...]

How Can My Association Use the Reserve Funds?2020-08-04T16:22:01-05:00
Go to Top