I am newly elected to our condo association board and am learning the ropes, so to speak. I recently heard about IRS Resolution 70-604. At our annual meeting, the property manager asked for a voice vote on moving the year end excess to the Capital Reserve Account., citing Res. 70-604. I am confused and somewhat angry that somehow we always manage to roll over some excess, yet not even 2 months ago we had a special assessment because there was simply no money to pay for an unexpected expense. This is a small HOA (30 units) and is only 7 years old, with a healthy reserve balance, and yet we've had 2 special assessments in the five years we've lived here. With well over $120k in the reserve fund, I feel that we should pay our current bills before banking it all. Incidentally, the Capital Working Fund was absorbed into the Reserve Fund by an earlier board, even though it was to be in segregated accounts. That has never been rectified. Thanks for your input.