The financial stability of a community is one of the most significant factors to consider
for a successful new year.
Budget Plans
• Schedule next year's budget approval date now.
• Make certain there are enough planning days on next year's calendar for developing
the budget, seeking homeowner input, discussing the budget at a board meeting,
approving the budget, and notifying the members about the budget.
• Review all financial statements, expenses, historical trends, receipts, reserve funds,
and any other items.
• Check for changes in utility, insurance, and vendor prices to avoid surprises.
• Address any deficits and plan to increase income, reduce spending, or both.
