Financial Management of the Association

Healthy finances are critical to the sound operation of a community association. There are many factors that play into the financial management of an association, including accounting controls to protect the association’s assets, well thought out and implemented budgets to ensure there is enough operating capital to over the ordinary expenses of the association, andGo to Resource

Best Practices Report #4 Financial Operations (Published by Community Association Institute Research Foundation)

Financial Operations It is CAI’s purpose to foster vibrant, responsive, competent community associations that promote harmony, a sense of community, and responsible leadership. Given that the fiscal health of the association has a direct impact on every member of the community, proper management of financial operations is an important element of building better communities. WhileGo to Resource

Tips For Protecting Your Association Finances

Volunteer boards of directors of condominiums, cooperatives, and homeowners’ associations often perform a number of functions vital to the successful self-governing of the association: fostering community harmony, maintaining common areas, and establishing and enforcing rules. The ability of the association to perform these functions depends upon its success as a business.  One of the mostGo to Resource

Budgeting For Owner Associations: Pre and Post CCIOA

A.     Budgeting in General Prior to actual budget approval, consider the following: Set goals.  Review, revise and update goals each year.  Involve the community and Owners through meetings, opportunities to serve on committees and questionnaires. Establish a planning process for each service offered to community to assist with budgeting process. Each service provided by theGo to Resource

What are the Odds of Winning: Profit Centers in Nonprofit Community Associations

INTRODUCTION Profit centers in nonprofit corporations.  The first thing that probably comes to mind is “But, we can’t make money, we’re a nonprofit.”  True.  Most Community Associations are nonprofit organizations.  However, the ability to “make a profit” if you are a nonprofit organization exists none the less. Remember, the primary distinction between for profit corporationsGo to Resource
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