Changes In Condo Maintenance Fees, Or "Special Funds"

[cheeryble]

The special assessments to which I refer were for specific items and work. They were not to be mixed with normal annual maintenance money and were to be reported in a separate designation for the audit.

When you say they weren't to be mixed with normal annual maintenance money etc who said so specifically?And who said they were to be reported in a separate designation?(you may be perfectly right but I note that people's perception of reality is often not in accord with the facts and am checking, because I have noted that when you have 200 residents you'll get 200 versions of how they think the world should be)

This has been disregarded by the committee/s. Because we've never had a detailed report none of the owners know where that money went and the committees aren't talking. What to do about that? Think about it - in the real world - how do you make somebody do a thing? I'd say either by direct force or via legal means - lawyers and attendant expenses. Even then the chances are small to nil that you''ll get your money back.

So who specifically have you asked, presumably verbally?You say you haven't had a detailed report.....well does that mean you had an undetailed report? What was it?BTW as you've written several TV posts about it have you written a short letter to the Juristic Person?I've noted condo residents have a tendency to get their views polarized, to not get their facts straight and also tend to personify committees as everything evil and vent their often unfounded suspicions or in your case allegations on them in a scattergun approach as a way to vent their frustration.Sure that not the case with you :-) Edited July 19, 2013 by cheeryble

[ripley]

I have written to the committees and JPMs on this matter. I have conversed and corresponded with several of them over the years. My primary question has always been: What is your problem with detailiing the expenditures/income of the Special Assessments? At least one auditor was in agreement. The AGMs, as I said, have refused to accept 2 audits.

The announcement received by the owners for the first fund was detailed as to what it was to be used for, given its own bank account and withdrawals meant to be signed by no fewer than 3 committee members. It was not to be lumped in with either the regular maintenance nor the Sinking fund.

To date we have received no accounting for the Special Assessments Fund which the committee insists has been used up, "stolen" or disappeared. The audits (refused by 2 AGMs) did mention two improvements performed in amongst other expenses but the total of these does not equal the monies collected.

Your comment is apt and I know that committees come in for a lot of unfair flack. I've served on Committees and know that those that behave as ours have deserve it. A committee has a responsibility to keep its owners advised. If they don't and if their actions are not transparent they court suspicion - even if they're personally honest. It is difficult for an owner to "get his facts straight" when the facts are concealed and reports are conflicting.

[ripley]

Forgot to mention - In one (written) communication w/ the committee & JPM re the matter of full disclosure, I was assured that a file with all of the facts, figures and supporting detail was available at th e business office and any owner was free to examine. When I went, the office said "It's not ready yet. Come in 10 days." The supposed file never appeared or was acknowledged again.