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    kathycollier's Avatar
    kathycollier Posts: 2, Reputation: 1
    New Member
     
    #1

    Jun 22, 2010, 09:33 AM
    Can reserves for a homeowners assn be spent on excess snow removal exp
    Can reserve acct funds for homeowners assn be used for excessive snow removal and landscape expenses?
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
     
    #2

    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's Avatar
    kathycollier Posts: 2, Reputation: 1
    New Member
     
    #3

    Jun 22, 2010, 01:11 PM

    The answer helped. Thank you.
    ballengerb1's Avatar
    ballengerb1 Posts: 27,378, Reputation: 2280
    Home Repair & Remodeling Expert
     
    #4

    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's Avatar
    Clough Posts: 26,677, Reputation: 1649
    Uber Member
     
    #5

    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!

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