In this class, we will discuss the issue of handling surplus funds (meaning when the association comes in under budget) at the end of a fiscal year. We will discuss CCIOA’s provisions on surplus funds and discuss best practices to follow when the board may not know whether there will be surplus funds. Since we are on the topic of potentially refunding money, we will discuss what happens when the practices do not follow the allocated interests or when we know that the allocated interests are wrong. We will discuss allocated interests that may be based on incorrect square footage measurements and discuss how to put it all back on a proper path.