This course builds on the information learned in California Law Module II. The material incorporates real-life examples and hands-on activities to help you learn how to analyze and use reserve funding plans; budget for conversions and new construction; and utilize the budget and reserve study to help the board make fiscally responsible financial decisions.
- Know how the boards assessment powers impact budgeting
- Be familiar with the foundations of operating budgets
- Differentiate budgets according to CID product type and size
- Be familiar with specific considerations when budgeting for new projects and conversions
- Budget for troublesome and frequently forgotten line item expenses
- Differentiate between, and calculate, fixed and variable assessments
- Resolve prior year issues, such as inter-fund liability, budget excesses, deficits and calculate cash position
- Understand how construction defect litigation impacts a budget
Who Should Take This Course?
- Community managers who are new to the association budgeting process
- Accounting personnel
- Community managers who want to earn the CAFM certification
Prerequisites: None. Prior attendance at FIN200 is recommended.
Continuing Education Units (CEUs): 4
Course Length: 4 hours
Download a Registration Form if you prefer to email or mail in your registration.
Don’t see an offering near you? You can join a wait list to bring this series to your area through CACMs Request a Course program.
You may also qualify to take this series by correspondence if you have two or more current years of verifiable community association management experience. Learn more.