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!