If you serve on a community association board or manage a community association you know that October means budget season. This seemingly straightforward task of lining up revenue and expenses can be complicated by two factors.
First, expenses keep going up and second, residents are resistant to assessment increases. To complicate matters in the post Great Recession world, federal mortgage regulations direct lenders to look at the
community association budget,
property management budget,
One of the most important roles of the Board of Directors for a community association is to establish the direction of the association and allocate the necessary resources. Most of this work is done through the approval of your annual budget, which many of you just completed for 2013. The resources you have available to allocate in this process include both dollars and human resources. Dollars take the form of the assessments you collect for operations and reserves, and human resources are the time required of your community management team, the board and other volunteers. One way to assure that you use these resources wisely is to create an annual plan also referred to as an Annual Calendar.
routine preventative maintenance,
calendar of events,