This Is our Village

Thursday, April 26, 2012

expenditures of condo ass

i wonder does the oficer o the condo  have free reign on how to spend  the ass .money..  seems  like there should  bw some check or balnce on items..say  ones  over 250  or  so   what he or she considers important  may  not  be by  other not  :talking about  minor  items..what  do u think??


  1. The treasurer should be able to spend up to a designated amount -- say $50 without approval, but all costs above that should be board voted. That's what the board is for.

  2. First you get frugal Officers with a penchant for DIY :-)
    Board meetings create a budget with $$ for each line item – that is one control.
    You require 3 competitive prices for any purchase.
    We have SOPs, eg we only buy bushes and trees, no annual plants that require extra care and die.
    There is a $50 petty cash for supplies.
    Emergency purchases (eg to prevent further damage) outside the budget require Board mtgs. or some discussion.
    That is how we do it.
    (Who were you calling 'ass'!)


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