A strata corporation must meet various conditions before it can spend money from its operating fund or CRF. There are similar prerequisites before a section may spend money from the section’s operating fund or CRF.

A strata corporation may only spend funds from the operating fund if the expenditure is consistent with the purpose of the fund, and:[80]

• the eligible voters have authorized it in the budget,
• the eligible voters have approved it by a 3/4 vote at a general meeting,
• the expenditure falls within a discretionary spending power in a bylaw or, alternatively under the Act, to spend without prior approval,
• the fiscal year has ended without approval of the next annual budget, or
• there is an emergency.

The Strata Property Act permits...(click to read more)

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