If you live in a Condominium Association, Homeowners Association, or Master Association, one of the responsibilities of your Associations Board of Directors and Property Manager is to prepare the Associations Annual Budget. It is a major undertaking that must be gone over with a fine tooth comb to ensure that your association will have the necessary funds to survive the following years expenses.
One of the major issues that must be considered is the Associations Reserve Fund. This is money that is set aside for major projects or repairs that must be made sometime in the future. This is a great article on
Budgeting for Reserves written by Jerry Brooks, a Florida Licensed Community Association Manager (CAM) and owner of J Brooks & Associates, Inc.
J Brooks & Associates, Inc. is a Community Association Property Management firm located in Fort Myers, Florida. They manage many Condominium, Homeowner, Cooperative, and Master Associations throughout the Southwest Florida Area.
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Budgeting for Reserves
