Condo Association Management Blog

Condo Association Reserve Funds: Use and Regulations

Posted on Sun, Mar 7, 2010 @ 08:30 AM

Regarding Reserve Funds: Can the Condo Association Boardreserve funds utilize reserve funds to make needed improvements? Can one reserve fund by reallocated to another to accomplish the improvement? Does the majority of the condo association need to vote to re-allocate funds or can the Board re-allocate the funds as needed without a vote if they make the condo association aware at a monthly meeting? I'm a Florida Unit owner and am not fully aware of the FL 718 statutes or the Florida Administrative Codes regarding use of reserve funds

Tags: Budgets & Finance, Condo Reserves