loading… Luckily, it doesn’t happen often, but we have all heard horror stories about dishonest managers or board members absconding with association money, funded through assessments paid by owners in the community. It is always a devastating situation and it leaves board members asking if there were steps that could have been taken to avoidGo to Newsletter
Financial Resources
loading… Now that accounts receivables are finally starting to shrink, many associations are working hard to stabilize their communities’ finances and planning to take care of long-deferred maintenance projects. During this upcoming budget season, boards and managers will be making important decisions about which projects can, and must, be funded next year and over theGo to Newsletter
loading… The Problem – The Unbudgeted Expense: Everything seems to be growing except the coffers: boards are faced with mounting operational expenses and increased delinquencies, without the same matched growth in revenue. And, unfortunately, not all expenses are planned – emergencies will come up. For example, if there is a big snow storm and theGo to Newsletter
loading… 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.Go to Newsletter
loading… 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 theGo to Newsletter