Budgeting - What's the Point?
Winston Churchill once stated that, “Plans are of little importance, but planning is essential.” There are several different facets of a community association that allow it to operate properly and effectively, but none so important as the organization’s financial stability. Within the next couple of months, managers, Boards, and committees will begin acquiring costs of current contracts and projections for the upcoming year to start the arduous process of creating the operating budget for next year.