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NEWSWIRE
Bringing Pertinent Industry News To Your Desktop

Borrow From the Future
 
Some associations may be experiencing cash flow problems during the COVID closures.  In times like these, it helps to have a healthy reserve fund.  The Civil Code allows for a temporary transfer of reserve funds to the operating account, to cover cash-flow shortages and other operating expenses - see section 5515(a).
 
If your association is seeing an increase in receivables and delinquencies, this might be an option to consider.  The funds transferred from the reserve account have to be repaid within 12 months unless it needs to be delayed further.  It’s interest-free money to help float the dip in cash flow.
 
Our Reserve Study department will work with you, at no cost or obligation, to determine how much is available to transfer, what items to defer if needed, and structure a repayment plan.
 
Need a Proposal? We'd be happy to help!
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California Builder Services
334 Shaw Avenue, Suite 135
Clovis, CA 93612

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California Builder Services · 334 Shaw Avenue, Suite 135 · Clovis, CA 93612 · USA

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