Spending Money | BC Strata corporations | CRF, Operating Fund, Special Levies
Turn on closed captioning. Visit to download the transcript, slides and Q&A. In this webinar for BC strata owners (condo, townhouse, bare land and commercial), strata councils and managers, lawyer Shawn M. Smith talks about the differences between the operating fund, the contingency reserve fund, and special levies; what spending is permitted from each of those funds; emergency expenditures and unapproved expenditures; and how to deal with surpluses and deficits.
00:00 introduction
02:18 The Basics: Common expenses & Funds
05:18 Operating Fund
07:20 Contingency Reserve Fund (CRF)
09:53 Special Levies
12:49 Which fund for which expense?
13:59 CRT Case #1 Greene v. KAS 1244
16:57 CRT Case #2 Dirks v. EPS2744
18:21 CRT Case #3 Meybodi v. EPS 869
19:48 CRT Case #4 Hodgson v. LMS 908
21:27 CRT Case #5 Borland-Spry v. EPS4534
24:49 BC Supreme Court LMS 509 v. Andresen
31:35 Emergency expenditures
37:23 Unapprov
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