Does your association know what questions to ask before raising assessments, or how to collect them with electronic funds transfer? If you were short on funds, would you know how to finance a capital improvement project? Can the association treasurer make sense of the financial statement? Does the association need fidelity bonding, and should it apply for tax-exempt status? The answers to these and dozens more questions are answered in Community Association Finances, a collection of 31 articles from CAI's award-winning Common Ground magazine covering assessments, cutting costs, generating revenue, budgeting, protecting assets, reserves, investing, and taxes.

For more than 20 years, Common Ground Magazine has shed light on community association governance, operations and management with articles written by industry pioneers, professionals and volunteer homeowner leaders—all of whom have helped make common-interest living one of the most successful forms of housing in America today.

Frustrating and fascinating, irrational and irresistible, community association living requires a special kind of guidance that can only be found in the pages of Common Ground. That guidance is now available in one place, as Common Sense from Common Ground presents some of the magazine's best articles, conveniently arranged by topic.

Contents

Assessments

Questions to Ask Before Raising Assessments
By Gregory J. Salvatore

Seven Ways to Violate the FDCPA and How to Avoid Them
By Thomas C. Schild

Ten Ways to Get the Money Your Association is Due without Breaking the Law or Alienating Residents
By Christopher Durso

How to Collect Assessments with Electronic Funds Transfer
By James M. Cachine

Cutting Costs

How to Cut Costs and Help Trim the Fat from Your Association's Budget
By Kenneth Budd

Save with Bulk Buying
By Marjorie Jean Meyer

Five Ways to Reduce Water Costs
By James M. Cachine

How to Increase Light and Decrease Electric Bills
By Dick Pruess

Generating Revenue

How to Finance a Capital Improvement Project
By Mary Alex Dundics

13 Ways to Generate Non-Assessment Income
By Howard A. Goldklang

How to Issue and Sell Homeowner Association Bonds

By Jerry C.M. Orten and Robert D. Hoehn

Budgeting

Common Budget Mistakes Community Associations Make
By Brad Brady

Nine Short Steps to a Long-Term Budget
By Howard Goldklang and Gregg Lotane

Put Some Fun in Financial Reports
By David Fisher

Financial Statements Made Simple
By Gayle L. Cagianut and Sandra K. Grunewald

Protecting Association Assets

Things to Ask When Hiring an Accountant
By Gayle Cagianut

Three Intangibles that Raise Property Values
By Marc Binenfeld

Fidelity Bonding: Who Needs It?
By Barry J. Scarr

Common Contract Problems and How to Avoid Them
By Paul M. Cairns and Kenneth E. Chadwick

Simple Steps to Avoid Embezzlement
By Alan Crandall

Tips to Keep Your Association Out of Financial Trouble
By Dana James

Reserves & Investments

Six Steps to Find a Reserve Study Firm
By Jack Boepple

How to Get Started on Your Reserve Study
By John P. Poehlmann

How to Tell if Your Reserves are Adequate
By Robert M. Nordlund

Three Reasons to Update Your Reserve Study
By John P. Poehlmann

How to Get the Maximum Return for Reserves with Minimal Risk

By Gayle Cagianut

Taxes

Should Your Association Apply for Tax-Exempt Status?
By Howard A. Goldklang

How to Avoid an IRS Audit
By Peggy McGinnis

Tax Returns: 12 Common Mistakes and How to Avoid Them
By David B. Price