Who typically prepares the annual operating budget for the community association?

The Treasurer of the association is typically responsible for preparing the annual operating budget. This role involves a foundational understanding of the community’s financial status, assessing past expenditures, and projecting future income and expenses. The Treasurer collaborates with other board members, gathers input from various committees and stakeholders, and ensures the budget aligns with the community’s objectives and financial goals.

By overseeing the financial planning process, the Treasurer ensures that the budget reflects the community’s priorities and maintains adequate funding for necessary services, maintenance, and improvements. This position requires financial literacy and a thorough understanding of the community’s operational needs, making the Treasurer the key player in establishing a sound fiscal plan for the year.