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Does your condo association budget break-out reserves?

| Condo Reserves |  


Question:

In our yearly condo association budget recap given to us at the annual meeting, savings are listed, but none of it is designated for reserve funds. In our projected association budget for the next year, there are no categories for replacement projects and reserve funds. It is all just one big guess. The condo association board will not change this or deal with this. Please don't say read your condo association bylaws because the board doesn't give a rip what the bylaws say about anything! In Minnesota we have HOA laws but no State agency to enforce them. Do other HOAs include reserve information in their actual budget summary sheets? If so, what does it look like?


Answers (7)

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