Every month, your property management company, a board member, or someone with financial experience should be producing some sort of financial reporting for your community. These reports provide an overview of your community’s revenue and expenses against your financial projections or budget. If not, this should be your first order of business at the next board meeting. It’s that important! Do these reports look like a jumble of numbers and complicated terms? Don’t worry and keep reading! With a basic understanding of budgets and reporting, you’ll not only understand the information, but you’ll be able to ask the important questions necessary to effectively oversee your community. Read the article………..
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