Condo Smarts: Can a strata refund an operating budget surplus to owners? (BC)

/ Owner - May 6, 2023

Dear Tony: Our strata corporation was left with a $125,000 surplus at the end of the year. In addition to the annual budget, we authorized contingency funds to be used for the repair of several roofs, which was transferred to the operating fund. Because of construction delays and a decision to not have our windows cleaned, and the termination of the caretaker, we saved $45,000 from the operating and $80,000 from the roof repairs.   Read the Q&A……………………………….

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