An annual budget is the lifeblood of any financially healthy association. A properly crafted budget guides the association in financial decisions throughout the fiscal year and helps minimize unexpected costs. Generally, the membership of your community will recognize the budget as a way of determining assessment amounts. While this is an integral part of the budget, it also provides for the continuity of community services, helps the community maintain its desired quality of life, plans for activities, and provides an opportunity for the community to balance its needs versus wants. Working in tandem with financial reports, the budget is a means of controlling the entirety of the community’s financial operations.       Read the article………………..