No units: 65
Groupe Engitec took over the management of this building in April of 1996.
As it can be seen from the financial statements the reserve funds was at $92,278 and the expenses were higher than the revenues by $5,910 (the association was running a deficit of $ 5,910) as of January 31, 1996.
At that time the balance left in the mortgage for the superintendent’s apartment was $72,000.
Within six years (see financial statements as of January 31, 2003) the reserve fund more than doubled to $215,392, the expenses decreased to $240,814 (the expenses in 1996 were $256,430), the balance left in the superintendent’s apartment is at $10,000 and investments of over $300,000 have been made to upkeep the building.
The enclosed document reflects some of the above statements : < Batiment # 2 Financial Doc . >
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