The Annual Budget serves as a road map for the Association. Future projections are generally based on historical trends, with the addition of known future projects. Establishing a sound budget is an important aspect of the Board’s fiduciary responsibility and the approved document sets the course for the fiscal year as well as ensuring that future projects will be planned for through the Reserve allocation within the annual budget.
With a professional management company, the Community Manager typically creates a draft of the budget. But, sometimes, the HOA or POA board, a financial committee or both will prepare that draft, which is then sent to the Community Manager for review. In either situation, the Board will work closely with their Community Manager to prepare a budget for the coming year.
Want to learn more? Check out our blog post on budgets.
See image to the right for an example of an approved budget.
Most Neighbors maintain that the biggest benefit of their association is preserving the value and integrity of their individual investment.
Previous
Next
Since opening our doors in 1991, CAMS has been an industry leader in community association management. CAMS is an AAMC, Accredited Association Management Company, which ensures your HOA that our team has the experience, knowledge and specific industry expertise needed to provide the highest level of service and trusted guidance to your community. Our community management team is made up of local experts available in each of the areas we serve throughout North and South Carolina.
Regional Office Locations: Wilmington, NC - Southport, NC - Morehead City, NC - Charlotte, NC - Raleigh, NC - Myrtle Beach, SC - Columbia, SC - Charleston, SC - Greenville, SC
877-672-2267
Account Login
Register
New to CAMS?