October, 20 2022 - Published by Grand River Chapter - Author(s): Shalon Seebach, BBS, LCCI
Does Our Condo Budget Have to be Breakeven?
A breakeven budget is one where the anticipated revenue is the same amount as the expected total expenses. A good starting point is to consider the accumulated General (or Operating) fund balance. Should the condominium carry a surplus? The Condominium Act of Ontario acknowledges there could be a surplus – in subsection 84 (2) they indicate a surplus can be used for ...
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