---
title: Condo association financial bookkeeping question
description: "NYC Condo has 120 units a current reserve $135K operating budget $1 Million and Annual Common Charges Approximately $850K Due to ruling 10% \"LINE ITEM\""
---

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# Condo association financial bookkeeping question

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## What do you think? Question:

Our New York City condo has 120 units a current reserve $135K and an operating budget $1M. Our annual common charges are approximately $850K due to ruling 10% "LINE ITEM".  We would need to budget $85K annually at current common charge to satisfy " LINE ITEM" requirement. Is there any way we can use our existing reserve of $135K to at least fund the "LINE ITEM" with the initial $85K?

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## What do you think? Answers (10)

#### What are your thoughts on this topic?

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### [How can we force board to keep more funds in our reserve account?](https://www.condoassociation.com/blog/how-can-we-force-board-to-keep-more-funds-in-our-reserve-account)

### [No condo reserves left and building is condemned](https://www.condoassociation.com/blog/no-condo-reserves-left-and-building-is-condemned)

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