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QUICK ANSWER

How should the board review its budget?

Review the assumptions, planned work and funding needs behind the numbers.

Read the draft alongside the association’s recent financial reports and planned projects. Look at what each line covers, what has changed and whether expected costs reflect your community’s needs.

Bring questions about vendor costs, repairs, insurance, utilities and reserves to management. Discuss service levels, planned work and the funding available.

Collect the board’s questions and proposed changes so they can be addressed together. Management can help revise the draft before the association follows its applicable approval process.

For your community

Find your association’s documents and homeowner links, or contact our team for help with your situation.

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General educational information. Your community’s governing documents, notices and applicable requirements determine the process for your association.