Budgeting and Special Assessments – Common Mistakes

The CCIOA budget process is still unclear to many, especially when it comes to pre-CCIOA communities and imposition of special assessments.  When is owner approval required and when do we ratify?  Can the Board ever unilaterally set a budget for the next fiscal year without owner approval or ratification?  Can associations ever impose additional assessments (such for insurance deductibles) without having to go through the owners?  In this session, we will discuss the process in detail and address the typical mistakes we see associations making, so that you don’t have to repeat other communities’ mistakes.