Your budget is everything to your community association!
A well-crafted budget determines the social activities you can provide, the maintenance you undertake, the capital improvements you embark upon and more. Your ability to increase your property values, deliver exceptional service to your community, improve security, minimize the risks to your association and enhance your residents’ lifestyles all hinge on making the most of your budget. We understand that budgeting can be a daunting task, but it doesn’t have to be.
Check out the articles below for information on all the things that go into a successful budget and how to keep your association on sound financial footing all year long.
Budget Planning and Financial Management Resources:
- Seven Steps to Preparing a Budget That Works
- Four Ways to Maintain Your HOA’S Financial Fitness
- The Seven Most Essential Financial Best Practices for Your HOA
- Your Next Community Budget in Nine Easy Steps
When it comes to planning your next annual budget, there are a lot of factors to consider. You need to prioritize what matters to your community, look at least three years ahead and carefully consider your reserves, expenses and income.
Our easy-to-follow budgeting checklist provides thirteen, simple steps to develop an effective budget for your association. Learn how to execute an efficient process and what to examine including your
- Expenses
- Reserves
- Utilities
- Insurance coverage
- Maintenance plan
Get more information on how working with a professional property management company can help your community remain fiscally fit.