Definition : Budget forecast - Contingency fund expenses

Amounts spent by the syndicate of co-owners for work related to major repairs and the replacement of the common portions of the immovable, to be distinguished from their mere maintenance.

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 At our last Annual General Meeting, the Board of Directors presented the estimated budget for the coming year. This budget provided for a substantial increase of the common expenses, as significant work was to be carried out during the year to upgrade the elevator. Everyone did not agree with this decision, and the budget was passed! I really had the impression that during this meeting, the will of a majority of co-owners was not taken into consideration. Question: What is the power of the co-owners meeting with respect to the vote on the budget? Can it vote against an increase in common charges?
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