Should Co-op / Condo Boards Create a Five-Year Capital-Improvement Plan?

If you prepare for the worst, you’re better off in the long run. Except when you’re not. A few years ago, the American Institute of Certified Public Accountants (AICPA) suggested that every co-op and condo’s financial statement contain information about the remaining useful life of — and the replacement cost for — all the building’s infrastructure. Makes sense, right? Not to some attorneys and accountants.    Read more…..

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