Plan for future funding
 33. (1) Except in the case of a corporation to which subsection (2) applies, the prescribed period of time for the purpose of subsection 94 (8) of the Act shall be the fiscal year of the corporation following the fiscal year in which the reserve fund study is completed.  O. Reg. 48/01, s. 33 (1). (2) In the case of all reserve fund studies that a corporation created before the day section 94 of the Act comes into force is required to conduct after that date under subsection 31 (1) and within 15 years after the date of the first reserve fund study that it is required to conduct after that coming into force date, the prescribed period of time for the purpose of subsection 94 (8) of the Act shall be 15 years from the date of that first reserve fund study.  O. Reg. 48/01, s. 33 (2); O. Reg. 21/10, s. 1. (3) The notice that the board is required to send under clause 94 (9) (a) of the Act shall be in a form specified by the condominium authority and approved by the Minister. O. Reg. 435/20, s. 1. (4) The form of the notice shall provide for the following to be included: 1. An indication of which owners are entitled to receive the notice, identified by, i. indicating that all owners in the identified condominium plan are entitled to receive the notice, or ii. setting out the unit address of each owner entitled to receive the notice. 2. An overview of the contents of the form of the notice. 3. A statement that the board has reviewed the reserve fund study. 4. A statement setting out the name of the corporation. 5. The signature of the individual signing the notice on behalf of the corporation and an indication of the date on which the notice is completed. 6. For the summary of the reserve fund study, i. a statement that the corporation has obtained the reserve fund study to satisfy the requirement under subsection 94 (1) of the Act for the corporation to conduct periodic studies to determine whether the amount of money in the reserve fund and the amount of contributions collected by the corporation are adequate to provide for the expected costs of major repair and replacement of the common elements and assets of the corporation, ii. an indication of the class of the reserve fund study, of the classes specified in section 28, iii. a statement of the name of the person who conducted the reserve fund study and the date on which the study was completed, iv. a statement of the name of the corporation that is the subject of the study, v. a statement of the information referred to in clause 29 (3) (b), except the information in subclauses 29 (3) (b) (i) and (viii), including a table, labelled as the “Cash Flow Table”, that shows a recommended funding plan projected over a period of at least 30 consecutive years beginning with the current fiscal year of the corporation and, for each year, includes, A. the estimated opening balance of the reserve fund, B. the recommended amount of the annual contribution to be made to the reserve fund, C. the estimated amount of inflation-adjusted expenditures to be made from the reserve fund, D. the estimated interest that will be earned on the reserve fund, E. the increase, if any, in the recommended amount of the annual contribution to the reserve fund from the previous year, expressed as a percentage, and F. the estimated closing balance of the reserve fund, and vi. an explanation of how the corporation has made the reserve fund study available for examination. 7. For the summary of the proposed plan for the future funding of the reserve fund, i. a statement that the board has reviewed the reserve fund study that is the subject of the summary mentioned in paragraph 6, ii. a table, labelled as the “Contribution Table”, that shows for each year of a period of at least 30 consecutive years beginning with the current fiscal year of the corporation, A. the amount of the annual contribution to be made to the reserve fund, B. the amount, if any, by which the contribution to the reserve fund is to increase from the contribution in the previous year, expressed as a percentage, C. the amount and a description of any other contribution to be made to the reserve fund during the year, including special assessment contributions and loan contributions, and when during the year each contribution is to be made, and D. the total of the amounts set out in sub-subparagraphs A and C to be contributed to the reserve fund, iii. an indication of whether the board has adopted the recommended funding plan set out in the reserve fund study, iv. if the board indicates that it has adopted the recommended funding plan set out in the reserve fund study, a statement that the board will implement the funding plan in accordance with the Contribution Table mentioned in subparagraph ii, v. if the board indicates that it has not adopted the recommended funding plan set out in the reserve fund study, A. a
statement of, 1. the opening balance of the reserve fund, 2. the minimum reserve fund balance during the projected period, 3. the assumed annual inflation rate for reserve fund expenditures, and 4. the assumed annual interest rate for interest earned on the reserve fund, B. a
statement that the board has proposed a plan for future funding as set out in the Contribution Table mentioned in subparagraph ii, C. a confirmation that the plan is based on the information in sub-subparagraph A, and D. an explanation of how the plan differs from the reserve fund study, vi. a statement of the amount of the total recommended annual contribution to be made to the reserve fund in the current fiscal year, vii. a statement of whether the amount mentioned in subparagraph vi is equivalent to the amount that has been budgeted for the annual contribution to the reserve fund for the current fiscal year and, if not, an indication of the difference between the budgeted amount and the amount mentioned in subparagraph vi, expressed as a percentage, viii. a statement that the board has determined that the plan for the future funding of the reserve fund described in this notice will ensure that, in accordance with the regulations made under the Act, the fund will be adequate for the purpose for which it was established, and ix. an explanation of how the corporation has made the proposed plan for the future funding of the reserve fund available for examination. 8. Based on the proposed funding plan, a statement of, i. the amount of the increase, if any, in contribution to the reserve fund in respect of an owner’s unit for the current fiscal year and for each of the three fiscal years following the year in which the reserve fund study is completed, or ii. if notice is given in respect of all units, the amount of the average increase, if any, in contribution to the reserve fund per unit for the current fiscal year and for each of the three fiscal years following the year in which the reserve fund study is completed. 9. A statement of the date on which the proposed plan for the future funding of the reserve fund will be implemented in accordance with subsection 94 (10) of the Act. 10. Any other information relating to the reserve fund study or proposed plan for the future funding of the reserve fund that is necessary for administrative purposes. O. Reg. 435/20, s. 1. (5) The form of the notice shall be entitled “Notice of Future Funding of the Reserve Fund” in English and “Avis concernant le financement futur du fonds de réserve” in French. O. Reg. 435/20, s. 1. (6) The condominium authority shall publish the form of the notice, (a) on its website and in any other way described in its administrative agreement; and (b) in any other format that the condominium authority considers advisable. O. Reg. 435/20, s. 1. PART V   AMALGAMATION