Ask The HOA Expert: Reviewing And Approving Annual Budgets

Question: Our budget process takes place in the fall so we will have an approved budget at least 30 days prior to the start of our fiscal year which begins in January. As it turns out, we hold our annual meeting in January and a new board will be elected then. All of our contracts expire next year. Should the current board review, renew and/or secure new bids for our contracted services as part of the budget process or wait for the new board to build its own budget?     Read the Q&A………..


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