If a budget isn’t passed, can a strata corporation still spend money?

Until a new budget is passed, a strata corporation may only spend money on approved expenditures as set out in the previous year’s budget. 1
The strata corporation may also make unapproved expenditures up to those amounts set out in section 98 of the Strata Property Act, SBC 1998, c.43 or as set out in the strata corporation’s bylaws.

 

 

 

Notes:

  1. Strata Property Act, SBC 1998, c.43, s.104(3)