Many community associations are in the thick of budget preparations for their next fiscal year. A well-crafted budget reflects shared priorities, safeguards essential services, and supports long-term sustainability.
Things have stabilized at the Hammocks Community Association near Miami more than three years after local prosecutors began filing criminal charges against previous board members for allegedly defrauding owners of more than $2 million in a financial fraud scheme. Every instance of financial fraud serves as a reminder, professionals say, of the importance of owner vigilance and the need for safeguards and controls.
