#13313
Jimmy-T
Keymaster

    Well, the law seems pretty clear on this:

    71What money can be paid out of the sinking fund?

    (2)  … an owners corporation may disburse money by transfer from its sinking fund to its administrative fund or by meeting from its sinking fund expenditure that should have been met from its administrative fund if the owners corporation complies with subsection (3).

    (3)  The owners corporation must, not later than 3 months after the disbursement, make a determination under section 76 (1) of an amount sufficient to recoup the amount of the disbursement.

    Doesn't seem to be much room for discussion there.  But my major concern would be what kind of state your sinking fund is in, relative to your obligatory 10-year plan. 

    There's often a bit of give and take in moving money to and from funds but the problems arise when you discover it's been masking a fundamental shortfall to service short-term needs.

    The opinions offered in these Forum posts and replies are not intended to be taken as legal advice. Readers with serious issues should consult experienced strata lawyers.