Operating Fund ​

The operating fund is the money your corporation uses for recurring, day-to-day expenses — insurance, utilities, snow removal, landscaping, routine maintenance, and management costs. It's the working account that keeps the building running month to month.

What it means for your board ​

Think of the operating fund as your corporation's chequing account and the reserve fund as its long-term savings. The operating fund handles predictable, regular costs; the reserve fund handles big, infrequent ones like replacing the roof.

Keeping the two clearly separate is good practice — and expected. Mixing them makes it impossible to tell whether you're genuinely saving enough for the future or quietly spending reserve money on day-to-day bills.

What the Condominium Property Act says ​

A condominium corporation funds its ongoing obligations through owner contributions, with the operating fund kept distinct from the reserve fund, which is restricted to major repair and replacement. The specifics are governed by the Condominium Property Act and its regulations.

Confirm the rules on what each fund may be used for before moving money between them.

How Qworum helps ​

Qworum keeps your operating and reserve funds as separate accounts, with every transaction categorized — so your books always show the true picture. Start a free trial.

General information about Alberta condominium concepts — not legal advice. Confirm your corporation's obligations under the Condominium Property Act.