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Real Estate
HOA Budget Preparation Checklist
HOA Budget Preparation Checklist

HOA Budget Preparation Checklist

Run this checklist to prepare an annual budget for your HOA
1
Introduction:
2
Record basic details
3
Set target date for approval
4
Current financial status:
5
Review the most recent budget
6
Evaluate any significant variances
7
Goals:
8
Define and prioritize three to five goals
9
Determine ways of achieving the goals
10
Projected expenses:
11
List all HOA expenses
12
Determine the average monthly cost
13
Calculate the total annual budget
14
Projected income/funding:
15
List all sources of income
16
Project total annual income
17
Putting it all together:
18
Document financial data in a budget spreadsheet
19
Finalize the budget
20
Approval: Annual budget
21
Sources:
22
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