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By CondoAssociation.com • March 8, 2017

Can you take HOA monies from operating account and replace from reserves?

A check was written out of pooled reserves (that was rightly a pooled reserve expense) in January of this year. Now the finance committee wants to replace the money taken from the pooled reserves with money from the operating expenses. I know you cannot use pooled reserves for operating funds, but can you use operating funds to pay for a pooled reserve item.

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Please note that blog comments and postings are not legal advice, rather only the opinions of our readers.

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