Florida Budgets and Financial Planning for Community Association Management

$35.00

Learning Objectives

  • Discuss the Florida State Statutes and the Florida Administrative Codes that govern community associations' budgets and financial requirements.
  • Identify and discuss the two main components of the budget.
  • Explain the information and the historical data that must be gathered to inform the budget preparation process.
  • List the requirements for maintaining and reporting financial records.
  • Identify the statutory requirements for budget meeting notices.
  • Describe the required content for an association’s operating budget.
  • List the guidelines to establish mandatory reserves.
  • Explain the pooled reserves method.
  • Summarize the steps to determine a reserve schedule.
  • Identify management procedures and tax implications of surplus funds.
  • Describe the procedures to calculate and collect assessments.
  • Explain the fiduciary duty of the board when preparing the budget.
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