{"id":317354,"date":"2025-11-25T05:50:53","date_gmt":"2025-11-25T05:50:53","guid":{"rendered":"https:\/\/peraltafinancing.com\/uncategorized\/budget-yeah-i-think-we-have-a-budget\/"},"modified":"2025-11-25T05:50:53","modified_gmt":"2025-11-25T05:50:53","slug":"budget-yeah-i-think-we-have-a-budget","status":"publish","type":"post","link":"https:\/\/fivemor.com\/?p=317354","title":{"rendered":"Budget? Yeah\u2026 I Think We Have a Budget."},"content":{"rendered":"


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As a HOA manager <\/a>I was often approached by potential clients,<\/a> at their wit\u2019s end with HOA <\/a>issues. Often these issues were about financial issues. I would usually ask them about their budget. Far too often I would get a response like. \u201cBudget? Yeahhh\u2026 I think we have a budget.\u201d In most of these cases there was either no budget at all, or a budget that hadn\u2019t been given a second look since the day it was compiled. \"budget_yeah_we_have_a_budget\"<\/a><\/p>\n

Budgeting for an HOA <\/a>is more than just writing down estimated expenses. Proper budgeting will help the board to be responsible with association<\/a> funds and reach their financial goals. Here are some tools and tips that will help your HOA<\/a> create and stay on budget.<\/p>\n

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Use the Right Tools<\/h2>\n<\/header>\n

It\u2019s nearly impossible to budget properly without the right tools. And no, an excel sheet is not all that you need. While excel has it\u2019s place and can be useful, every HOA should have accounting software. This software will help you budget, track expenses, and generate reports. But most importantly it will allow you to establish a financial history that will help you budget more accurately in the future.<\/p>\n<\/section>\n

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The treasurer is responsible to oversee and report on financials. But what does that mean? Whether the reports are prepared by a manager<\/a> or not, the treasurer should be doing the three R\u2019s at least monthly.<\/p>\n