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Disclosure of Co-op BudgetJan 09, 2014

I believe Co-ops are required to prepare annual audited financial statements, but the budget is not part of those statements. If a co-op is not sold out, the sponsor is required to prepare an annual amendment to the prospectus in NYS. Usually, the budget is included in that document, which would also list the unsold units and other investments of the sponsor. We usually provide copies of our budget at our annual owners meeting in the spring.

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