Overview

As an interested condominium owner-especially a new board member-you want to get up to speed with your homeowners association's (HOA) financial health. Here are some questions addressed by this book. Does your HOA have sufficient reserves? How does a reserve study help to keep long-term budgeting on track? How do you create an annual operating budget? How do you manage cash flow when you incur large, unexpected expenses? How can prudent financial planning avoid special assessments? What's an annual review? Which tax forms does an HOA file? What type of insurance does the HOA need to buy? Do my contractors have proper insurance? What is fiduciary responsibility? What is the difference between officers and directors?

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