A condominium association’s board of directors has a seemingly endless list of responsibilities, but one of the most important – at least in terms of its impact on the membership – is the adoption of an annual budget. In simple terms, adopting a budget requires the board to balance two competing realities: (1) the association’s “legal” obligation to collect enough money to properly insure, maintain and administer the condominium, and (2) the board’s “practical” desire to minimize the financial burden that assessments place on the co-owners.   Read the article………………………………..