- This topic has 4 replies, 3 voices, and was last updated 7 years, 10 months ago by .
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if we collect special levies on behalf of a specific project can we use that money for another project that is deemed more important?
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Depends who ‘we’ is. A committee must spend in accordance with a budget approved by a general meeting. A little bit of practical leeway is reasonable but not a complete reversal of a general meeting decision. On the other hand, a general meeting can rescind a previous decision and replace it with an alternative decision.
Section 81 (4) of the Act says this (my emphasis in bold): If the owners corporation is subsequently faced with other expenses it cannot at once meet … it must levy … a contribution to the administrative fund or capital works fund, determined at a general meeting of the owners corporation, in order to meet the expenses.
Just my opinion but I think you are locked into paying for the original purpose for which the money was raised. That said, I think Sir Humphrey is right that no one is going to be jailed if a general meeting diverts the funds to an unexpected and more pressing issue
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