Category: Finance

Finance
2014 July Cutting Costs – Without Cutting Corners

As the 2012 federal legislative fiasco over the debt ceiling—as well as any number of other spending bills proposed since then—demonstrated, balancing a budget can be like pulling teeth. Balancing a condo or HOA community's budget can some…

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Finance
2014 July Budgeting and the Bottom Line

Preparing the annual budget is by no means an easy task. Those charged with preparing condominium or HOA budgets will soon begin reviewing costs, gathering data and projecting expenses for the coming year. Communities, businesses, individu…

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Finance
2013 August It's a Capital Idea

These days, just about everyone is cutting back on spending, whether to make ends meet, save for something special or a rainy day, pay off debt or fund their retirement. Consumers are cutting coupons, looking for deals and keeping a cl…

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Finance
2013 July Follow the Money

 If you want to find out about the history of a town, region or country, head to  a museum or look it up on the Internet. If you want to find out about your  family’s history, look at your photo album, whether it’s in a book or online. And…

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Finance
2013 July Coping with Arrears

 The foundation of any properly run co-op or condo building rests on residents  paying their monthly maintenance fees on time and in full, with no delays or  delinquencies. Unfortunately, because of the lingering effects of the Recession  …

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Finance
2013 July Watch Your Language

 A major building rehabilitation for a large condominium community included  impact-resistant replacement windows, at a six-figure cost for materials alone.  The owners’ association advanced money to the contractor to buy the windows. When…

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Finance
2013 February Letting it Slide...

 It’s the same dilemma that single-family households across the U.S. are facing:  What bills need to be paid immediately and what bills can wait? And should we  stretch ourselves thin, taking more out of our bank accounts to pay for privat…

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Finance
2012 December By the Book

 Unless you have a degree in accounting, your first board meeting could come as a  bit of a shock. You probably knew board members oversee the finances of your  association but who knew there were so many records to produce and filing  dea…

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Finance
2012 September Flush with Cash

In December 2008, the National Bureau of Economic Research announced that the United States was in a recession that had started back in December 2007. The official announcement was old news for most Americans. Most financially…

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Finance
2012 July Understanding Finances

For a crystal-clear picture of how an association is doing, there are few better lenses than the community's budgets and financial reports. From an investment perspective, they show the association board, property managers, the unit ow…

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