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View Full Version : Can reserves for a homeowners assn be spent on excess snow removal exp


kathycollier
Jun 22, 2010, 09:33 AM
Can reserve acct funds for homeowners assn be used for excessive snow removal and landscape expenses?

ScottGem
Jun 22, 2010, 09:39 AM
First, please don't post the same question in multiple places.

Reserves are used to offset unusual costs or reduce future assessments. I see nothing wrong in using them to cover
Unbudgeted snow removal and/or landscaping costs.

Why ask the question?

kathycollier
Jun 22, 2010, 01:11 PM
The answer helped. Thank you.

ballengerb1
Jun 22, 2010, 01:24 PM
Yes but you must read your covenants carefully to see what they have to say about spending reserves.

Clough
Jun 22, 2010, 02:02 PM
Hi, kathycollier!

It's possible, that there might also need to be a vote by members of the Association as to how any monies might be spent.

So, whether there needs to be a vote, should be information that would be covered in documentation that concerns the Association.

Thanks!