How can an HOA board streamline annual budget planning?

Budget planning process

HOALife assists boards in reviewing historical financial data and forecasting expenses. Start by compiling all past expenses, then categorize them into recurring operations and one-time projects. Engage homeowners through surveys or budget meetings to understand priorities and communicate potential fee changes.

Key steps

• Analyze history: Look at the last two years of spending.
• Project reserves: Estimate future repairs and replacements.
• Adjust dues: Balance required revenue with fairness.

HOALife’s tools

Our platform tracks expense categories, projects reserves, and provides visual dashboards that simplify the budgeting process and keep stakeholders informed.