A Whopping 70% of Association-governed Communities are Underfunded
October 16, 2014 No Comments
Underfunded reserves is a financial reality throughout the United States.
Underfunded reserves is a financial reality throughout the United States.
When we begin a relationship with an Association client, one of the first items we request is a copy of the Governing Documents.
Anyone who has owned a car for an extended period of time has gone through this dilemma: “Well, something is definitely wrong
The role of a board member is to maintain, protect, and enhance the assets of the association. Typically, the most significant assets and related expenses of an association are those identified within a Reserve Study.
In our June newsletter we looked at the decision points for which components are deemed appropriate within the reserve study versus those factored in the operating budget.
Because association boards are run by volunteers with typically high turnover, fundamental education will always be at the heart of their success.