---
title: How do we financially classify new roof project on our books?
description: Condo Association had major roof damage. Received a check from Insurance Company. Roofs have no book value. Whats proper way to record theses transactions.
image: https://www.condoassociation.com/hubfs/Stock%20images/Concentrated%20young%20couple%20calculating%20bills%20sitting%20on%20the%20sofa%20in%20the%20living-room.jpeg
---

[Skip to content](https://www.condoassociation.com/blog/how-do-we-financially-classify-new-roof-project-on-our-books#main-content)

# How do we financially classify new roof project on our books?

| [Budgets & Finance](https://www.condoassociation.com/blog/topic/budgets-finance) |  

<https://www.facebook.com/sharer/sharer.php?u=https://www.condoassociation.com/blog/how-do-we-financially-classify-new-roof-project-on-our-books>

<https://twitter.com/intent/tweet?url=&text=https://www.condoassociation.com/blog/how-do-we-financially-classify-new-roof-project-on-our-books>

<https://pinterest.com/pin/create/button/?url=https://www.condoassociation.com/blog/how-do-we-financially-classify-new-roof-project-on-our-books>

<https://www.linkedin.com/shareArticle?mini=true&url=https://www.condoassociation.com/blog/how-do-we-financially-classify-new-roof-project-on-our-books>

## What do you think? Question:

Our Condo Association had major roof damages from a tornado. Have received a check from the Insurance Company . We will have the roofs repaired over the next few months. The Roofs have no value on our books. What are the proper way of recording theses transactions.  Beavercreek Ohio.

<https://www.facebook.com/sharer/sharer.php?u=https://www.condoassociation.com/blog/how-do-we-financially-classify-new-roof-project-on-our-books>

<https://twitter.com/intent/tweet?url=&text=https://www.condoassociation.com/blog/how-do-we-financially-classify-new-roof-project-on-our-books>

<https://pinterest.com/pin/create/button/?url=https://www.condoassociation.com/blog/how-do-we-financially-classify-new-roof-project-on-our-books>

<https://www.linkedin.com/shareArticle?mini=true&url=https://www.condoassociation.com/blog/how-do-we-financially-classify-new-roof-project-on-our-books>

## What do you think? Answers (3)

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

***Comments and postings are not legal advice**, but are the opinions of our readers. This forum and its contents are being monitored. Please be respectful of each other. *  
  

## Related Posts

### [Should all condo owners pay same repair bill?](https://www.condoassociation.com/blog/should-all-condo-owners-pay-same-repair-bill)

### [How long can condo association hold on to assessment money?](https://www.condoassociation.com/blog/tabid/19257/bid/103624/How-long-can-condo-association-hold-on-to-assessment-money.aspx)

### [How long can a condo association hold onto assessment money?](https://www.condoassociation.com/blog/tabid/19257/bid/99789/How-long-can-a-condo-association-hold-onto-assessment-money.aspx)

```json
{
  "@context" : "https://schema.org",
  "@type" : "BlogPosting",
  "dateModified" : "2024-10-01",
  "datePublished" : "2024-10-01",
  "headline" : "How do we financially classify new roof project on our books?",
  "image" : [ "https://www.condoassociation.com/hubfs/Stock%20images/Concentrated%20young%20couple%20calculating%20bills%20sitting%20on%20the%20sofa%20in%20the%20living-room.jpeg" ],
  "mainEntityOfPage" : {
    "@id" : "https://www.condoassociation.com/blog/how-do-we-financially-classify-new-roof-project-on-our-books",
    "@type" : "WebPage"
  }
}
```