Every year your Board must present to the membership a budget for the following year. This annual budget is a road map for the Board to reference throughout the year.

Planning a budget is a tedious process as you are estimating potential costs of many different items, from insurance, to landscaping, to potential maintenance repairs. Most communities have a reserve study conducted to help determine future costs and needs for the community. Looking to the past and the trends that presented themselves in your financials are good tools for developing a great budget.

Once the Board has drafted and approved the budget, it is then sent to all homeowners, and then a meeting is held to ratify the budget according to the Association's documents and/or State statutes.