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Budgeting

Learn more about how your Homeowners' Association prepares the budget.

Who prepares the budget?
The Management Company presents a draft for the Board's review and approval.

What goes into creating a budget?
The Association's year-to-date income and expenses are reviewed along with other supporting documents, such as a Reserve Study, to compile a financial plan for the following year. Income is based on the number of owners in the Association. Expenses are based upon approved operating costs within the organization.

When are the budgets published?.
Once adopted by the Board, the budget is submitted to the Membership for ratification. 
A copy of the proposed budget is distributed to all Members at least two weeks ahead of the Ratification Meeting.

Who approves the budget?
Per state law, unless 51% of the Members reject, either in person or by proxy, the budget is automatically ratified. 

Can I see an existing budget?
A copy of the current budget is available for review and download via the archive link below.

Budget & Financial Report Archive