Who typically is responsible for approving the annual return to the Condominium Authority of Ontario?

The responsibility for approving the annual return to the Condominium Authority of Ontario typically rests with the Board of Directors. This group is entrusted with the overall governance and management oversight of the condominium corporation, making them accountable for important decisions, including financial reporting and compliance matters.

The Board of Directors plays a critical role in ensuring the accuracy and completeness of the information submitted in the annual return, which is essential for the corporation's transparency and accountability to its residents and regulatory authorities. This return includes vital information such as financial statements and management practices, which the Board must verify before submission.

While property management may assist in preparing the return by compiling data and managing the logistics, the authority to approve the document ultimately lies with the Board of Directors. Other entities, like a Residents’ Committee, typically do not have direct managerial authority in this context, and financial advisors provide expertise but do not have decision-making power regarding the approval process.