Association Funding Budgeting Assessments And Reserves (MI)

Association boards have a variety of responsibilities in administering the affairs of a condominium or homeowner association. Some of the most important responsibilities include ensuring that the association has sufficient funding to maintain, repair and replace items within the community, to carry insurance, and to maintain adequate funding for all of its obligations. To help communities understand those responsibilities, this article will address association budgets, sources of funding for the association, and long-term planning for major repairs and replacements.   Read the article…………………………………