Did You Know You Can Budget For Education?

budgeting best practices blog

One of the greatest investments a society can make is in the education of their young.  The same principles apply to members of a condominium or HOA board.  Educating those who have volunteered their time; charged with making decisions that impact the entire community, one of the biggest personal investments for most, should be a priority.

Jack Thew, Director of his Naperville condominium association, is a fierce proponent of board education.  “After becoming a board member and later an officer, I have made it a priority to attend as many seminars as possible, some several times over, because you always pick up something new or had not thought about before. Taking CAI’s best business practices and weaving them into the governance of an association makes it run easier, more efficient, and with fairness to its unit owners,” he said.

Now as volunteers, many board members do not take advantage of attending educational courses through CAI as there is a cost involved.  Why not budget for that expense when it can benefit the entire community?

“I think Associations should be adding either a combined budget amount or separate line items to their budgets for board member education to allow board members to obtain training in the matters affecting associations”, said Brad Schneider, CPA at Condo CPA.

There are many nuances involved in effectively leading a condominium or homeowner association, and with the constant change in state and federal laws it is becoming more and more difficult for volunteer board members to serve.

Sheila Novak, President of her Naperville homeowner’s association said, “CAI’s educational courses have given me the knowledge and confidence to lead our 15-year old association through strategic planning, tactical maintenance, and reserve accumulation. Bravo, CAI, and thanks!”

Every association should consider budgeting their CAI membership in order to obtain access to education courses that are included at no charge as a member benefit. Your membership will expand your knowledge and understanding of the vast world of community association management and provide you with the tools and resources to run your association successfully.

Brittany Ryan, CMCA

Property Specialists, Inc.

SHARE IT ON