The End of the Ten-Cent Budget

"When I was a boy, bread cost ten cents." Sixty years ago my father delivered groceries in Bellevue, so I guess he would know. But Bellevue's Main Street was dirt then, and travel to Seattle was via the Mosquito-fleet. Things have changed. Bread now costs a few dollars, and every time my father buys a loaf of bread, I hear about it. Budgeting has changed for community associations as well: the ten-cent budget (the one-column, divide-by-twelve version) is no longer an accepted standard. Increasingly complicated mixed use communities, large master planned associations with sub-associations, high-rise buildings, and an increasing number of services for community associations demand that . . . to read more of this article by Marshall Johnson, PCAM, President of The CWD Group Inc., AAMC, click here.

Hiring Professionals - A Win-Win Approach

One of the key questions facing volunteer homeowner association boards is, "When should we hire a professional to assist us?" This question can apply to professional management companies, construction professionals, grounds maintenance, accountants, attorneys and reserve consultants. One of the features of HOA Boards is that they are governed by volunteers. As a result there can be a wide variety of individual experience in association governance - a combination that can . . . to read more of this article by Thomas D. Jonez, Goff & DeWalt, LLP click here.

Audits, Budgets, Reserves: Who Cares?

Your CAI Communications Committee sat around the planning table in June and listed topics for the annual "financial" issue of this magazine: reserve studies, funding reserves, budgets, audits, insurance, maintenance and hiring professionals to make all of this happen. "Kind of boring," said one member. "I know, but it's really important," said another. "That's right," we all murmured. But I'm new to this. So, I can ask the questions. To read more of this article by Margo Keller click here.

New Washington Reserve Study Law - Practical Approach

According to our old friend Jim Strichartz, the first condominium recorded in King County was in 1964, named El Condo. This is the coolest name I've ever heard for a condo. Forget Tall Trees, Whispering Brook, etc. - give me El Condo. I was born in 1964 and I would like to think I've gotten better over time - you know, learned from my mistakes. I'll argue condominiums are a little slower in their progress. My experience with condominiums and perhaps personal idealism tell me a law to disclose the most significant expenses likely to be faced over time is generally a good thing. In fact . . . to read more of this article from Jim Talaga, RS, President, Association Reserves Washington click here.

Funding - Your Association's Reserve Account

As I'm sure you're aware, there are many benefits to living in a homeowners association. From great amenities such as parks, play areas, and swimming pools to having your yards maintained and houses painted (depending on your specific association), the benefits are numerous. However, with these types of benefits, there are also costs associated with their maintenance and repair. The association, through its board of directors, is obligated to fulfill this fiduciary responsibility and ensure there are adequate funds available to repair and maintain the physical property. While enjoying the benefits, it's sometimes easy to forget that the funds . . . to read more of this article from April Ahrendsen, Community Association Banc click here.