Are Deficit Budgets Legal?
No. They violate the state law and our by-laws. Here is an email that notifies Mikhail Kleyman and Linda Leest of that when preparing the 2022 budget. They never went to the state to approve their plan, and did not get an attorney's opinion until the following year for the 2023 budget. My legally compliant deficit reduction plan of waiving reserves for the year as our primary way of balancing the Condo 1 operating fund is mentioned. Linda Leest did get our accountant to say in 2021 that it was okay to have the deficit reduction plan she wanted despite the obvious violation of state law and the by-laws. An attachment from the email is here . Here is the email where I bring up my concerns about the accountant approving deficit budgets. It also includes the email that approval was attached to as well as notification of the issue to our current treasurer. This email from the accounting firm contains the letter firmly stating that the previous advice about deficits was complet...

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