by Guest Author | Feb 25, 2021 | Community Associations, COVID-19
The COVID-19 pandemic is leading to higher operating expenses and unanticipated costs for many community associations. Taking note of financial impacts now can help associations better prepare for the future.
by Kiara Candelaria | Jul 8, 2020 | Community Associations, COVID-19
Some community association boards have sought guidance about whether using reserve funds is appropriate to address potential cashflow issues caused by COVID-19. Here are some things to consider.
by Amy Repke | May 4, 2020 | CAI, Community Associations, COVID-19
Nearly 75% of community association board members express being “confident” or “very confident” regarding the current budget, though almost half expect assessment delinquencies to increase in 2020, according to a CAI survey conducted in late April.
by Guest Author | Apr 14, 2020 | Community Associations, COVID-19
Despite common areas and amenities being closed due to COVID-19, it’s still necessary for community associations to collect assessments to meet ongoing maintenance requirements and contractual obligations.
by Daniel Brannigan | Oct 23, 2019 | Community Associations
Just like for-profit businesses, association boards should work diligently to develop annual budgets that estimate revenue and expenses for the upcoming fiscal year. A properly drafted budget can help prevent reduced services, deteriorating property, or special assessments.