How to Create a Realistic Condo Budget

/ Owner - April 19, 2022

Annually, the Condominium Manager and Board of Directors have a fiduciary duty to prepare a budget for the condominium corporation. As such, by the 8th or 9th month into the fiscal year the Condominium Manager will begin the process of preparing the operating budget for the upcoming fiscal year. A condo corporation’s budget is made up of 3 sections; Income, Expenses, and the Reserve Fund, which is legislatively required. Within these sections, however, are subsections for each.   Read the entire article……………………………….

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