Question:
Are funds allowed to be taken out of regular assessments for a capital expenditure
– Jackie
Answer:
Hi Jackie,
An HOA board might account for capital expenditures in the budget, which is then used to compute regular assessments. It can differ per association, though, so it is important to check your governing documents for guidance. Some HOAs might require a vote or approval from the membership before a board can push through with capital expenditures.
Disclaimer: We are not lawyers. The information provided on this website does not constitute legal advice.
