Given that the fiscal health of the association has a direct impact on every member of the community, proper management of financial operations is an important element of building better communities. This Best Practices Report, published by the Foundation for Community Association Research, includes performance benchmarks for how to establish financially healthy communities as well as case studies that illustrate the implementation of those benchmarks in real communities.
Financial Operations is also available as a free PDF download. However, for those who want a printed version, it is available here at cost.
Contents
Section One: Overview and Introduction
Financial Operations
Budgetary Responsibilities
Section Two: Accounting Practices & Financial Statements
Accounting Practices
Accounting Basis Used for Financial Statements
Financial Statements and Reports
Section Three: Assessments, Taxes, and Investments
Assessment Collection
Federal Income Tax Filing Responsibilities
Investments
Bid Requests/Request for Proposals
Case Studies of Strategic Planning
Case Study #1: The Oakridge Estates Community Association
Case Study #2: Kiawah Island Community Association
Case Study #3: Riverbend at Leisure World
Additional Resources
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