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Do we need to vote on how much reserves to spend on roof repairs? We have $300K available in our HOA account.

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As an HOA does the board of directors have to make active deposits into our reserve (contingency) fund? If so what are the interval requirements.

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We just did a wind mitigation upgrade. Can condo reserve dollars be used for wind mitigation in this case?

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What is the difference between a reserve account and a general bank account where we have some non operational monies put aside? 

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Is there any restriction on where Condo Reserve funds can be invested in Pennsylvania?

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What percentage of condo funds should be kept in reserves?

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Please note that blog comments and postings are not legal advice, rather only the opinions of our readers.
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