agencydude
Registered User
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I have a quick question about mud act.
In section 19 of mud act it says you use the sinking fund to pay for non recurring maintenance or improvements.
Let's say from the service budget you have some unexpected savings.
Could you use these savings to fund the non recurring maintenance or improvements in the current year?
In this scenario do you have to go through the process of checking with members at the agm can you go ahead and do these non recurring maintenance or improvements?
Or because you are using funds from the service budget you then don't have to ask members their permission even if its for non recurring maintenance or improvements?
In section 19 of mud act it says you use the sinking fund to pay for non recurring maintenance or improvements.
Let's say from the service budget you have some unexpected savings.
Could you use these savings to fund the non recurring maintenance or improvements in the current year?
In this scenario do you have to go through the process of checking with members at the agm can you go ahead and do these non recurring maintenance or improvements?
Or because you are using funds from the service budget you then don't have to ask members their permission even if its for non recurring maintenance or improvements?