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needs to be to meet expenses. Otherwise, you will have to cram 10 pounds of services into the proverbial 5-pound budget.

5. Be thorough when explaining the budget to homeowners!

Most homeowners have some understanding of budgets. They know that money coming in has to equal money going out, or the association will head into rocky financial waters. Once you have developed a respon- sible budget with the board, take the time to prepare a comprehensive bud- get presentation for the homeowners. Take time to explain the process of preparing a budget, different consid- erations that affected how the budget was derived, reasons why some line items went up or down, and the importance of proper reserve fund- ing. Hand out or project graphics that help give a visual interpretation of the verbal presentation. Answer questions honestly and sincerely. A little legwork now can avoid upset homeowners and pushback later. Whether the budget is for a 20-unit garden condominium or a 2,000 home active adult community, the science behind budget preparation is the same. Investing sufficient time and energy to properly prepare a bud- get and then educating both boards and homeowners throughout the pro- cess should lead to successful budget cycles year after year. n

FWH Associates, P.A. has been providing essential services to property managers, community associations and contractors for over 20 years. Offering refined expertise in a variety of disciplines for our clients. • EIFS/Stucco Inspection/Evaluations • Land Surveying • Water Infiltration Remediation • Siding Replacements • Balcony Replacement Specifications • Building Façade Inspections/ Evaluations • Parking Garage Inspections/ Evaluations PROFESSIONAL SERVICES INCLUDE: Individualized Attention. A Broad Range of Expertise. • Capital Reserve Studies • Transition Reports • Expert Testimony • Construction Specifications • Landscape Design • Roof Replacements • Forensic Building Evaluations • Construction Inspection • Drainage Remediation

FWHassociates.com

1856 Route 9, Toms River, NJ 08755 732.797.3100

2 North Ave.,Ste. 305, Cranford, NJ 07016 908.276.2433

Civil EnginEErs • PlannErs • landsCaPE arChitECts arChitECts • land survEyors • rEsErvE sPECialists

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