These are the common fees assessed to the owners of the units based on the unit factor based on the current year budget.

These are supplemental charges that may have come up due to violation, lease agreements, and the likes of it. It also includes additional sundry income such as fees collected for keys, fobs, cards, laundry income, social club dues, interest on operating funds, NSF fees, etc. In addition, this may also account for the transfers between the operating fund and reserve fund.

Contract expenses include cleaning fees, building maintenance, mechanical maintenance, plumbing fees, and grounds maintenance.

Grounds maintenance operating expenses include landscaping improvements and snow removal in addition to the contract.

General maintenance operating expenses involve cleaning fees, condominium repairs, and improvements in addition to the contract.

Mechanical maintenance operating expenses include elevator maintenance, heating costs, and other mechanical expenses in addition to the contract.

Amenities & Recreation operating expenses refer to any costs associated with shared recreational spaces such as the exercise room, pool expenses, etc.

Site salaries contribute to operating expenses if the condo corporation has its own staff exclusive to the condominium which equal gross salary less deduction expenses (CPP, EI, etc) and cost of any group benefits if applicable.

Resource operating expenses involve utilities including heating, electricity, water, sewer, etc.

Administrative and professional operating costs include insurance, management fees, professional fees (audit, legal), bank charges, photocopying, telephone, office supplies, etc.

Interest Income from the association's reserve accounts and CD accounts are usually booked under the reserve fund.

The monthly transfers from the checking account to reserve accounts are all accounted as an income under the reserve fund in order to reflect the isolation of the cash from the normal operations.

It is the best practice to have the loan amortization be automatically deducted from the association's savings account. Thus, the categorization of Loan Payments Interest should normally be booked as an expense under the reserve fund.

Since Reserve Study refers to the estimated future costs for major repairs, replacements (like roofs, elevators, paving), and capital improvements for a shared property (condos, HOAs), identified in a professional analysis to ensure enough funds are saved, preventing big special assessments later, this expense is also categorized under the reserve fund.