Blog Posts with the #CondoFinances tag
February 4, 2021 - Educational
Does Our Condo Budget Have To Be “Breakeven”?We want to carry some surplus in our operating fund – is that ok, and if so, can we plan for it?
January 28, 2021 - Educational
Why Do You Still Use Cheques?Why are you still using cheques? It cannot be because they are expensive, or a hassle to get two board members to sign. It cannot be because your vendors enjoy chasing you down and maybe even intercepting you before it hits the postal box.
December 17, 2020 - Educational
Financial Statements - What Are Our Options?The financial statements of your condominium corporation are an important tool. While most condominium corporations are required to have an audit completed, some smaller corporations can waive this requirement... are there other types of financial statements available?
October 15, 2020 - Updates for Members
Fraud: Make Sure the Board Is Drinking Their Morning CoffeeJane woke up early on a Sunday morning and decided she was going to get as many errands done as possible to prepare for the upcoming vacation. She decides to look for the forms to renew her passport. She starts her coffee brewing and sleepily googles “passport renewal”.
September 9, 2020 - Educational
Condominiums and TaxesCan income from interest and rentals jeopardize your condominium’s non-taxable status? This article will help you to understand which income sources may attract income tax as well as how to determine if your corporation should register for Harmonized Sales Tax.
August 5, 2020 - Educational
Your Financial Statements – The First Thing You Should ReadAre your financial statements credible? Read your auditor’s report to discover your auditor’s opinion.
July 30, 2020 - Updates for Members
Electricity Providers’ Requirement for a Security DepositWhen a condominium is presented with the requirement from an electricity distributor (ex. local municipal hydro corporation) to pay a security deposit, the Conditions of Service of the electricity distributor should be reviewed to ensure the request complies with the Ontario Energy Board Distribution System Code.
May 21, 2020 - Educational
Education Videos Spotlight: Finances and Government Assistance ProgramsShalon Seebach discusses how to manage a Condominium's cash flow during COVID-19.
April 16, 2020 - Educational
Condo Finances and COVID-19The COVID-19 pandemic is something no one could have predicted or budgeted for, and we are all struggling in one way or another...
January 2, 2020 - Educational