Reserves

Community associations come in all sizes. They vary in age, amenities provided, and maintenance
obligations. Careful planning for future repairs and replacements is not only in the
best physical and fiscal interests of the community association, it is required by law in some
states. Maintaining a reserve fund not only meets legal, fiduciary and professional requirements,
it also minimizes the need for special assessments and enhances resale values.
Every community association requires a different amount of cash in reserves to complete
repair or replacement projects on schedule without special assessments or loans.
How does an association properly determine and compile adequate reserves to fund
necessary repair and replacement costs? By conducting reserve studies….Read More

Governance

Developed by Dr. John Carver, the Policy Governance model defines the role of the
board as this: the board, on behalf of the owners, must see to it that the organization
achieves the desirable while avoiding the unacceptable. Period. This model of governance
allows boards to feel comfortable about delegating the day-to-day operations to
staff so they can focus on the bigger picture—longer term needs of the organization.
Organizations nationwide have embraced this model with great success. Because it is
universally applicable, it works for organizations that are new or mature, large or small,
profit or nonprofit and troubled or successful. One example of Policy Governance in
action can be seen in First Colony Community Services Association (FCSSA)…Read More

Strategic Planning

Strategic planning is more than ensuring your association will remain financially sound and
be able to maintain its reserves—it’s projecting where your association expects to be in five,
ten, or fifteen years—and how your association will get there. It is a systematic planning
process involving a number of steps that identify the current status of the association,
including its mission, vision for the future, operating values, needs (strengths, weaknesses,
opportunities, and threats), goals, prioritized actions and strategies, action plans, and monitoring
plans…Read More

Financial

A community association’s governing documents and management contracts will define
formal roles and responsibilities in the budget process. These roles should be communicated
in a constructive manner to all involved to ensure that appropriate expectations
exist. Below is an outline of the responsibilities of volunteers and professional staff typically
charged with developing community association budgets…Read More

Security

A community association board has many responsibilities—setting goals and approving
budgets; conducting open, fair, and well-publicized elections; organizing events that foster
neighborliness and a sense of community, to name a few. But a board’s chief responsibilities,
arguably, are to maintain and enhance the common areas and protect home values. Many
communities seek to fulfill these responsibilities with security features, vendors, and systems
that protect residents and property. The goal of this Best Practices Report is to give you an
assessment and review of many community security systems and features—including useful
tips and tools—to help meet residents’ crime prevention needs…Read More

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