Under this ruling, owners may ….

Under this ruling, owners may vote to apply any excess membership income for the year to the following (or subsequent) year’s budget requirements. Failure to approve the revenue ruling limits the tax filing options available to the association and can mean increased tax liability for the current fiscal year.

For Mutual election questions, contact Senior Portfolio Specialist Ripa Barua at ripab@lwsb.com. For GRF election questions, contact Jenna Dever at jennad@lwsb.com.