Condo Q&A

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

Written by CondoAssociation.com | Wed, Mar 8, 2017 @ 12:04 PM

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.