Spending Money | BC Strata corporations | CRF, Operating Fund, Special Levies

Turn on closed captioning. Visit to download the transcript, slides and Q&A. In this webinar for BC strata owners (condo, townhouse, bare land and commercial), strata councils and managers, lawyer Shawn M. Smith talks about the differences between the operating fund, the contingency reserve fund, and special levies; what spending is permitted from each of those funds; emergency expenditures and unapproved expenditures; and how to deal with surpluses and deficits. 00:00 introduction 02:18 The Basics: Common expenses & Funds 05:18 Operating Fund 07:20 Contingency Reserve Fund (CRF) 09:53 Special Levies 12:49 Which fund for which expense? 13:59 CRT Case #1 Greene v. KAS 1244 16:57 CRT Case #2 Dirks v. EPS2744 18:21 CRT Case #3 Meybodi v. EPS 869 19:48 CRT Case #4 Hodgson v. LMS 908 21:27 CRT Case #5 Borland-Spry v. EPS4534 24:49 BC Supreme Court LMS 509 v. Andresen 31:35 Emergency expenditures 37:23 Unapprov