Service 03 · Funds
Reserve and operating funds, checked separately and clearly
Reserve money can only be used for major repair and replacement of the common elements. We check that the corporation kept the two funds apart, followed its reserve fund study, and approved every transfer properly.
What's included
What you get with this service
Contribution check
Actual reserve contributions compared with the funding plan.
Expenditure review
Reserve spending tested against what the Act allows.
Interfund transfers
Each transfer traced to board approval.
Investment confirmation
Reserve investments confirmed with the institution.
Investment rules
Holdings checked against permitted investments.
Board flags
Gaps reported to the board before owners ask.
Why it matters for your condo
The reserve fund is usually the largest pool of money a condo corporation holds. Owners care about it most, and it is where generalist auditors most often miss condo-specific rules.
3 years
Typical cycle for a reserve fund study update in Ontario.
2 funds
Kept strictly separate, every year.
1 clear note
Explaining the reserve position to owners.
What your property manager will provide
We send these as a dated checklist before year-end, so nothing is a surprise.
- Most recent reserve fund study
- Funding plan & notices
- Reserve investment statements
- Board approvals for transfers
- Major repair invoices
Common questions
What if our contributions don't match the study?
We report it to the board in plain language with the size of the gap, so the board can decide how to address it before the next budget.
Do you prepare reserve fund studies?
No. Studies are done by qualified reserve fund planners. We audit the reserve fund against your study.
Fixed-fee proposal
Get a proposal that includes reserve fund review
Two minutes, no documents needed. We reply within one business day.
Often included alongside
Next step
An audit your board can follow, delivered before the AGM clock runs out.
Tell us about your corporation and we will send a clear, fixed-fee proposal. No documents needed to start.