Operating budget plan (İşletme projesi)
Also known as: operating budget, annual budget, işletme bütçesi
Definition
Under Turkish condominium law, the plan prepared by the manager showing the estimated annual income and expense budget and the advance each unit owner will pay.
The operating budget plan shows, item by item, the common expenses expected during the year and determines how they will be distributed among the independent units. The manager prepares the plan; the owners' assembly discusses it and approves or amends it.
The plan is notified to the unit owners and becomes final if no objection is made within the period set by law. A finalized operating budget plan becomes a strong document for collecting expense and advance receivables through enforcement proceedings; that is why it is important that it is properly prepared and notified.
Example: In a 40-unit apartment building with equal land shares and projected annual expenses of 960,000 TL, each unit's annual share is 24,000 TL and its monthly advance is 2,000 TL.
In CasaX
In CasaX you can enter the total budget and the distribution method to preview the monthly shares and publish them as recurring monthly dues.
This content is for general information only and is not legal or financial advice. Legislation may change; consult a professional about your specific situation.