Board Meeting Good Practices - Reviewing Bank Statements
 |
October 08, 2010 |  |
Kristen Bailey |  |
 |
 |
0 Comments | Share Link |
Boards of directors should be reviewing monthly bank statements issued by the condominium corporation's bank or trust company, for both the operating and reserve fund accounts of the condominium corporation.
This step should be part of the routine of the montly board meetings, to ensure that your board is being prudent in accordance with its obligations under the Condominium Act, 1998, to manage the affairs of the corporation, and to perform the corporation's duty to control, manage and administer the assets of the corporation.
Recent Posts
- THE TEN THINGS YOU NEED TO KNOW ABOUT SMOKING IN CONDOS
- Swan v. Goan
- Interim Injunction - Cigar Smoking Prohibited on Condominium Property
- Sarah Computer Consulting Inc. et al v. PCC 421
- Justice David M. Brown Finds That Manzoor Moorshed Khan Orchestrated a Massive Fraud
- The Case for Better Consumer Protection for Condominium Owners
- Keeping the Peace in Condos and Rule Enforcement - A Manager's Opinion Matters
- Dealing with Disruptive Directors
- Condo Superintendent and Other Employment Contracts
- Renewed Hope - Changes are Coming by Marco Graziani
- Requisition to remove board invalid for misrepresentations
- Should We Consult Our Lawyer? Good News and Bad News
- Condo Ordered to Pay Damages to Residents Affected by Second-Hand Smoke
- Don't Let the Bedbugs Bite - Dealing with Bedbugs in Condos
- When will a condominum board's decisions be reviewed by the courts?
- Communication: Be Smart and Err on the Side of Caution
- Social Media: Condominium Corporations Must Protect Their Cyberspace
- MCC 173 ats. The Courthouse Block Inc.
- Collecting Chargebacks - Good News and Bad News
- Invasion of Privacy Recognized as a Cause of Action – What Does it Mean for Condominiums?
- The Impact of HST on Closing Costs: Buyer Beware!
- Are unit owners entitled to attend condo board meetings?
- Is your Condo ready for HST?
- Asbestos – A Thing of the Past? Maybe Not!
- Municipal By-Laws and Condominiums – What a Condominium Board Needs to Know
- How can a Board of Directors amend a declaration?
- Are Your Condominium Corporation's Rules Discriminatory?
- Can a condominium restrict rentals in Ontario?
- Human Rights Tribunal and Pool Restrictions
- Condos in the News
- Requests for Records under the Condominium Act: A Clear Warning to Unit Owners
- Swimming Pool Safety
- Springtime in Toronto, Pets and Enforcing Rules
- Is your condominium's address for service up to date?
- Hoarding in a Condominium
- Toronto condominium corporation was vicariously liable for superintendent's actions
- Rear Deck Case Affirms Condominium Corporations’ Rights
- Board Meeting Good Practices - Reviewing Bank Statements
- Dangerous Neighbours
- Bill 79 proposes significant changes to the Condominium Act, 1998
- Important Information Website for Ontario Condominium Residents
- Condo Board's Decision Making Process - A Recent Case
- Occupiers Liability - A Recent Case
- Can an Ontario Board of Directors Ban Smoking Inside Condominium Units?
- Government gives more time to "top up" reserve funds
- New Mortgage Rules for Homebuyers
- Are you thinking about purchasing or selling your house or condominium unit?
- Mediation/Arbitration Procedures By-Law
- Small Claims Court
- Revising a Condo Corporation's Organizational By-law
- Blanket Alteration Agreements - A Good Idea?
- Policy Regarding Use of Handheld Electronic Devices while Driving
- Inaugural Blog Posting - Condominium Classification
- Unions and Condominiums: Think they Can't occupy the same space? Think Again!
- 2009 Condo Conference
- Amend the Condominium Act, 1998 to Avoid the Creation of Tenements
- Insurance Deductibles: Who must pay them?
- City of Toronto Water Supply By-Law
- Whose interests does a board have to consider when managing the affairs of the corporation?
- Alteration or No Alteration: The implications of the McMahon Hot Tub Case
- Cap on Closing Adjustments
- Interested in hearing of your successes
- Mandatory Metropasses for New Toronto Condominiums
- The Home Renovation Tax Credit and Common Element Renovations
- Court of Appeal Delivers its Decision in the McMahon Hot Tub Case
- Snow and Ice Removal - A Warning to Landlords
- Meetings Code of Conduct
- Avoiding Fraud at Condominium Corporations
- No Smoking Rule
- Decorating for the Holidays
- Insurance Claims: Second Opinions are Valuable!
- The Mezuzah Conundrum - Religious Fixtures on Common Element Doorposts
- Mould - A Growing Issue
- Testing First Blog
- Sample Article Blog
Categories
- 1998
- Condo Litigation
- condominium act
- Condominium Act, 1998
- Condominium Corporate Law
- condominium litigation
- Employment / Labour
- General Interest
- litigation
Tags
- access
- address for service
- alteration
- alterations
- asbestos
- bank statements
- bedbugs
- best interests of the corporation
- bill 79
- blanket alteration agreements
- board decisions
- board meetings
- business judgment rule
- buying a condominium from a builder
- buying a resale condominium
- by-laws
- case summary
- changes to the condominium act
- chargeback
- classification
- closing adjustments
- code of ethics
- collection
- common elements
- compensation
- condo commando
- condo conference
- condo news
- condo websites
- condominium act
- condominium act 1998
- condominium classification
- condominium documents
- condominium maintenance and repair
- condominium resident questionnaire
- consumer protection
- corporate policies
- court decision
- court of appeal
- court order
- damage
- decision making
- declaration
- declaration amendment
- defamation
- director liability
- directors
- discrimination
- disruptive owner
- documents
- dog
- duties of board
- electronic records
- employee
- employment contract
- enforcement
- federal changes to mortgage rules
- fire department
- fobs
- fraud
- governing documents
- harassment
- hazard
- hoarding
- holiday decorations
- home renovation tax credit
- hst
- human rights
- human rights tribunal
- injuction
- injury
- insurance claims
- insurance deductibles
- invasion of privacy
- keys
- legal opinion
- legislation
- liability
- lien
- litigation
- loan
- maintenance and repair
- manager
- mandatory metropasses
- mcmahon hot tub case
- meetings code of conduct
- minutes
- misrepresentations
- mould
- municipal by-laws
- negligence
- no smoking rule
- nuisance
- occupiers liability
- ontario government
- operating account
- oppression
- oppression remedy
- organizational by-law
- pests
- pets
- physical injury
- preventative measures
- protecting owners' interests
- punitive damages
- purchasing a condo
- real estate
- religious decorations
- removal
- rentals
- request for records
- requisition
- reserve fund
- reserve funds
- review board
- rules
- safety
- sample
- section 107
- section 117
- section 134
- section 47
- slip and fall
- small claims court
- smoking
- snow removal
- social media
- success stories
- superintendent
- swimming pool
- swimming pools
- termination of employment
- unions
- vicarious liability
- water supply by-law