Condo Smarts: Plan budget, contingency inputs to anticipate future risks (BC)

/ Owner - February 27, 2020

Q: Read the Q&A………………………Our strata corporation is one of the properties where our deductible has gone from $25,000 to $100,000 dollars as a result of two claims last year. We approved our annual budget in December and now are projecting a short fall of about $65,000 with the insurance increases.  A number of questions have arisen as a result. Are we permitted to call a special general meeting and amend our budget part way through the year? This would seem to be the easiest solution.

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