We could borrow from CWF but then we are obligated to raise a special levy to replace the funds we borrow within 90 days.
The Act says in S76 (2) (below), that within 90 days you are obliged to “determine” the amount to be refunded, it doesn’t say you have to refund it within 90 days. It goes on to say that this comes under S 81 (5) which says it can be paid in instalments – it also doesn’t say how large or frequent those instalments should be.
Even if your strata manager says the Act means you have to pay it back in 90 days, who is going to complain if you interpret it a different way? The strata manager is bound to follow the OC’s instructions (within the law) you are not obliged to take their advice.
76 Use of administrative fund or capital works fund for purposes of other fund
(2) The owners corporation must, not later than 3 months after the transfer or use, determine the amount to be levied as a contribution to the fund from which the transfer or use was made to reimburse the amounts paid from the fund. Section 81 (3) and (5) apply to a contribution determined under this subsection.