How should the general assessment be calculated from the budget?

The correct approach to calculating the general assessment from the budget involves determining the annual expenses, subtracting any other sources of income (such as fees from amenities or services), and then dividing the net amount by the ownership percentage of each member in the community association.

This method ensures that the assessment is equitable, as it accounts for the total necessary funding to cover the association's operational costs while considering any income that can offset those costs. By dividing by the ownership percentage, it also establishes a fair share of expenses for each member based on their stake in the community.

This practice promotes transparency and financial responsibility within the association, as every member contributes their proportional share based on ownership. It is a standard accounting practice in community management that helps maintain the financial health of the association.