Understanding the budgeting process: 2023

Board members come from a variety of professional backgrounds and may not have prior experience in reviewing financial documents. However, it is important for board members to have a basic understanding of financial documents and how to interpret them, as this information is crucial in making informed decisions for the association.

Watch our recent board member education webinar, Understanding the Budgeting Process. This is a great opportunity for all board members to gain insight on the process of developing operating budgets, reserve contributions and drafting a budget in real-time!
This discussion was moderated by FirstService Residential’s Megan Kucz, Regional Director with insights from Christina Arms, Accounting Supervisor.  
Don’t miss this session on:   

  • Contracted Expense Increases

  • Payroll and Payroll Related Expenses

  • Historical Expense Analysis - Reserve Contributions (where applicable)

  • Understanding the balance sheet