Effective HOA financial management is crucial for the stability and growth of any community association. Properly managing your HOA’s finances ensures that resources are allocated efficiently, reserves are adequately funded, and all financial obligations are met in a timely manner.
Here, you’ll find expert articles, tips, and insights on budgeting, financial reporting, reserve studies, and much more. Whether you’re a board member looking to enhance your financial skills or a community manager seeking best practices, our blog posts cover a wide range of topics to help you navigate the complexities of HOA financial management.
Stay informed and empowered with the latest insights on creating effective budgets, maintaining accurate financial records, and planning for your community’s long-term needs. Explore our collection of articles to learn how to navigate the complexities of HOA financial management and keep your association financially sound.
Year-end is fast approaching and you want to make sure your HOA or Condo is on track with its accounting needs. Jot down these year-end accounting preparation tips and key dates for your HOA & Condo so you have the best experience.
This is the time of year when many Boards are working on their 2023 budget. The new year will likely see many communities raising their fees to keep pace with rising costs due to inflation. As a result, we’ll also likely see communities looking at ways to save money by doing more things themselves rather…
Are you a new member on your HOA Board, working on figuring out the in’s and out’s of your Board duties? Or are you a seasoned HOA leadership veteran who would like to learn more about a new reporting system your HOA has implemented? Most importantly, are you looking to become a pro at reading…
The most commonly known types of community associations are Homeowner’s Associations (HOAs) and Condominium Owners Associations (COAs). But those major classifications are only the tip of the iceberg when it comes to other names and types of associations. Community Financials offers financial management for many other types of common associations. Here are a few more…
There are always some owners that don’t pay their Homeowner Association (HOA) or Condo charges on time. Some owners don’t pay for many months – and the list of delinquent owners and the amount of money owed gets larger when there is a recession. The amount of uncollected money causes a financial problem and risks…
In our continuing education class “Financial Best Practices for Homeowner Associations and Condo Communities” we recommend managers and board members close old bank accounts. In this post we are going to discuss why you should close your old HOA and condo bank accounts. Reason #1 – More Work More bank accounts means more accounts to…
We’re all aware that the economy has a rhythm or cycle and is also referred to as a business cycle. When the cycle is on an upward trajectory people’s financial situation is improving and as the cycle turns downward their financial situation can deteriorate. The U.S. is experiencing the second longest economic expansion in post…
Russell Munz, Founder
Certified Manager of Community Associations (CMCA)
Expert Financial Oversight
Experience the difference with our professional financial services designed specifically for HOAs and condo associations. Simplify your finances with our expert support.
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