<img height="1" width="1" style="display:none" src="https://www.facebook.com/tr?id=1061566567187268&amp;ev=PageView&amp;noscript=1">
Skip to content

Condo association reserve gone and board refuses owners questions


I live in a 100 unit condo in Illinois. Our condo is 15 years old. We have less than one year of board minutes, and financial records. We show reserves from only a few months ago. There have been no capitol expenditures for at least ten years, but the board refuses to say what happened to the reserves from those years. Most concerning, there was a very large special assessment three years ago, that the board said was a mistake, and not needed. They said they would use it to build up the reserve. These funds have disappeared. The board refuses to answer any questions or give any account about the missing reserves. We are not sure what we should do now.

Answers (16)

What are your thoughts on this topic? Please share your answers below. We ask that you remain respectful of each other, and be advised that responses are monitored.