Condominium Property Regulation s. 20.03

(1) A proposed budget referred to in section 20.01(4) must
contain the following information for the 12-month period
specified in the proposed budget:
(a) the projected total rev enue of the corporation;

Section 20.04 AR 168/2000

(b) the projected total expenses of the corporation;
(c) the specific projected exp enses, each of which must be
listed under one of the following categories:
(i) maintenance and repairs;
(ii) insurance;
(iii) utilities;
(iv) condominium management services;
(v) other contracted services;
(vi) the reserve fund study;
(vi.1) in the case of a conversion, the converted property
study or building assessment report, as applicable;
(vii) other expenses;
(d) the projected payments in to the reserve fund or a fund
described in section 23(7);
(e) the name and credentials, if any, of the person who
prepared the proposed budget, and the date on which the
proposed budget was prepared.
(2) The person who prepares the proposed budget may include an
estimate for inflation in respect of projected expenses.
(3) A proposed budget must provide for a reasonable amount of
the projected total revenue of the corporation to be deposited in the
reserve fund or a fund described in section 23(7).
(4) A proposed budget may be delivered to a purchaser only until a
budget for the corporation's fiscal year is prepared by the
corporation under section 30(4) of the Act.
AR 181/2017 s5;138/2021

RTA Residential Tenancies Act

20.03 Content, delivery of proposed budget