CAI-NJ Aug.2018 (w)

BUDGET MARKS... from page 17.

“Ask what can be done now that will improve the value to the unit owners in the future.”

Servicing: New Jersey • New York Pennsylvania • Connecticut

address it sooner than later and put it behind you. 4. Look to the Future – Board’s should not only consider the budget for the next year but future years as well. Ask what can be done now that will improve the value to the unit owners in the future. 5. Consult Your Professionals — Boards have a difficult job to do but do not have to go at it alone. Managers are the number one resource for professional advice, and other pro- fessionals such as engineers, attor- neys, insurance agents, accountants and service providers can also be a valuable resource in understanding the value of services. 6. Think VALUE –Make decisions based on value rather than cost. Shifting the thought process more towards value should improve the association’s long term financial health. If you follow these steps, you’ll be sure to “Hit Your Marks!” n

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