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Can excess funds be used towards a condo reserve fund?


Question:

reserve-condo-fundsAt the end of each fiscal year, we have money left over, which is listed as members' equity.

Can some of that money be used to supplement a reserve that needs shoring up, instead of increasing the maintenance fees or a special assessment?

We are in Florida and can't seem to find any reference to this. Thanks in advance for your comments.


Answers (24)

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