Budgeting in General

Prior to actual budget approval, consider the following:

• Set goals. Review, revise and update goals each year. Involve the community and Owners through meetings, opportunities to serve on committees and questionnaires.
• Establish a planning process for each service offered to community to assist with budgeting process.

Each service provided by the Association has five phases:

• establishment
• maintenance
• restoration
• improvement
• cancellation

Each phase has four "budget planning" parts:

• Planning - Does the Association need it, want it? How much will it cost?
• Implementation- Contracts, Financing, Construction
• Evaluation- How is it working? Is it meeting the Association's goals? Is the Association getting its money's worth?
• Community Feedback- Does the community like it, use it, want it? Are they satisfied with the cost?

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