NYC co-op apartment owners:

Do you receive or have access to your building’s annual budgets? My management company refused my request and told me that it is not customary to share budgets with shareholders.

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I am pretty sure the coop board has to provide it if requested. I have a condo and I get the financial statements, which includes the actual vs budgeted expenses.

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That sounds shady. As shareholder you have the right to see and APPROVE the budgets.

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I thought the same. Apparently, our board approves the budget. But at a minimum, it should be presented to the shareholders at the annual meeting.

Go to the board for that. My coop has monthly meetings to update on financial.

I also joined one of the committees to get a peek under the hood.

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