Preparing and Assembling the Budget Every community association must have a budget. This is required at various levels of the law as well as in the governing documents. Budgets mandate the procedures to determine the applicable requirements for reserves. The association should consider the needs and desires of the homeowners. What services do they require? Are they required on a daily, weekly, monthly or annually basis? Budgets should also account for any unexpected expenses as well. Budget due dates depend on the association and is generally noted within the bylaws. Typically, budgets are done by either calendar year or fiscal year. Your association manager will typically put together a proposed budget and then the Board, which may contain a budget committee, will review, and approve. It is important that the budget committee does not just budget for money it expects or does not have. An example, you shouldn’t budget for late fees or fines; if income is not expected then do not budget for it. The association can take into account the needs of the homeowners. Budget line items are either mandatory or discretionary. Mandatory line items are a need or obligation such as water, insurance and taxes. Discretionary line items are a desire or expectation such as a pool or playground. While discretionally line items can be ranked based on the desires or wants of the homeowners, mandatory items must always be budgeted for.
Key Association Management
商务咨询服务
Clinton Township ，MI 48 位关注者
Managing Condominium and Homeowners Associations throughout Southeastern Michigan for over 28 years!
关于我们
Key Association Management specializes in condominium and homeowner association management throughout southeastern Michigan. At Key Association Management, our managers are professional consultants to a board of directors. Our main objective is to use our experience and knowledge in the industry to strategize with a board on what their unique needs and goals are of their association and how to develop the best plan to achieve them. In addition, we recognize that the world around us is changing and at a very fast pace, which is why we believe that continuous adaptation to change and the need for an exceptional customer experience is so important in today’s growing association management industry. We manage associations to help them grow and prosper. We provide our clients with professional advice and guidance to help develop and implement a system that will fulfill each unique goal. We are your association strategists and we help solve the unique needs of each of our clients, while making relationships our priority. “We are the Key to your success!”
- 网站
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www.key-am.com
Key Association Management的外部链接
- 所属行业
- 商务咨询服务
- 规模
- 2-10 人
- 总部
- Clinton Township ，MI
- 类型
- 上市公司
- 创立
- 1995
地点
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主要
获取路线
15760 19 Mile Rd
G
US，MI，Clinton Township ，48038