05
LEAN ON
PROFESSIONALS
Preparing a budget can be intimidating.
Fortunately, board members don't need a
financial background to budget and plan
effectively. Although some associations
have the treasurer or a budget committee
lead the charge, many associations
outsource financial functions to an HOA
accountant or professional community
manager. These experienced individuals
can confirm financial accuracy, monitor
regulatory compliance, and eliminate bias.
Make sure your association isn't required—
both by your governing documents and
relevant laws—to engage in the services of
a certified accountant.
While professional oversight is
recommended, board members should be
closely involved with budget preparation,
as they're ultimately responsible for the
approved budget. All members must
understand where money is being spent
and why, as well as the reasons behind
increases or other changes.
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