Tag Archives: budgeting

Governance/Board Duties

From time to time you may hear that the board of the association operates in a fiduciary capacity for the homeowners. Or you may read about the board’s fiduciary responsibility in the governing documents. Just exactly what does this mean?

Fiduciary duty simply means the board has an ethical and legal obligation to make decisions in the best interests of the entire association. That’s a small explanation for a very big responsibility.

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CO: FROM THE HOA FILES: It’s budget time again

News items of national interest regarding Condominium and Homeowner associations, compiled by the Community Associations Network

Does your association struggle with preparing a balanced budget on time? Now is the time to carefully consider the obligations, needs and expectations of the association. Follow these guidelines for successful budgeting:
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