DorisW1 (Arizona)
Posts: 2
Posts: 2
Posted:
For the state of AZ,does the funds collected for special assessment required to be used in the calendar year they are collected?
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Special Assessment
Started by DorisW1 • 3 replies • 487 views
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SheliaH (Indiana)
Posts: 6,964
Posts: 6,964
Posted:
That's a legal question, so you need to ask a private attorney. I don't know if there would be a statute on this anyway - what did your board tell you (if you didn't ask them, do so).
If it is not right do not do it; if it is not true do not say it. Marcus Aurelius
JohnC46 (South Carolina)
Posts: 14,265
Posts: 14,265
Posted:
Doris
The answer is no. I have seen Special Assessment spread out over 5 years. I seen them go to build the Reserves so no telling when they will be spent. The whatevers are usually spelled out in the request for such.
The answer is no. I have seen Special Assessment spread out over 5 years. I seen them go to build the Reserves so no telling when they will be spent. The whatevers are usually spelled out in the request for such.
GeorgeS21 (Florida)
Posts: 3,808
Posts: 3,808
Posted:
Special Assessment can normally be used per the explanation of or plan for the funds.
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