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I leave it to an accountant to comment re carrying forward, but I suspect it could just be established as an account payable or something like that.
Surpluses are a good thing. Many condos do not have that luxury.
The accountants will generally recommend that a condo board have about 3 months working capital in the current account. That is good management.
Surpluses can always be moved to the replacement reserve account. In our experience, primarily due to inflation, but also due to not planning for the future, a large majority of replacement reserves are under-funded.
I believe that any capital improvements require the approval of 75% of owners and unit factors so ‘pet projects’ are not easily completed.
