Extraordinary Expense

Extraordinary expenses are unexpected costs that arise during the year that have not been planned for in your operating budget and are of an emergency nature. An extraordinary expense is used when cash flow is an issue and funds are required to pay urgent invoices.

Please address any repairs that could affect the health and safety of your residents or further damage a building immediately.

Extraordinary expenses do not include those items that would be covered within your insurance policy. If there’s an event that creates such an expense, such as water damage from a broken pipe, check your insurance coverage first and contact the company immediately.

In cases where the unexpected cost is not covered by insurance, please  contact your Non-Profit Portfolio Manager  to determine whether the expense qualifies as an extraordinary expense.