Condo Q&A

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

Written by CondoAssociation.com | Tue, Jul 23, 2019 @ 01:25 PM

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.