CAI-NJ July.2016

J U L Y , 2 0 1 6

FWHassociates.com

FWH Associates, P.A. has been providing essential services to property

managers, community associations and contractors for over 20 years.

Offering refined expertise in a variety of disciplines for our clients.

• Capital Reserve Studies

• Transition Reports

• Expert Testimony

• Construction Specifications

• Landscape Design

• Roof Replacements

• Forensic Building Evaluations

• Construction Inspection

• Drainage Remediation

• EIFS/Stucco Inspection/Evaluations

• Land Surveying

• Water Infiltration Remediation

• Siding Replacements

• Balcony Replacement Specifications

• Building Façade Inspections/

Evaluations

• Parking Garage Inspections/

Evaluations

PROFESSIONAL SERVICES INCLUDE:

1856 Route 9, Toms River, NJ 08755

732.797.3100

2 North Ave.,Ste. 305, Cranford, NJ 07016

908.276.2433

Civil EnginEErs • PlannErs • landsCaPE arChitECts

arChitECts • land survEyors • rEsErvE sPECialists

Individualized Attention.

A Broad Range of Expertise.

needs to be to meet expenses.

Otherwise, you will have to cram 10

pounds of services into the proverbial

5-pound budget.

5. Be thorough when

explaining the budget

to homeowners!

Most homeowners have some

understanding of budgets. They know

that money coming in has to equal

money going out, or the association

will head into rocky financial waters.

Once you have developed a respon-

sible budget with the board, take the

time to prepare a comprehensive bud-

get presentation for the homeowners.

Take time to explain the process of

preparing a budget, different consid-

erations that affected how the budget

was derived, reasons why some line

items went up or down, and the

importance of proper reserve fund-

ing. Hand out or project graphics

that help give a visual interpretation

of the verbal presentation. Answer

questions honestly and sincerely. A

little legwork now can avoid upset

homeowners and pushback later.

Whether the budget is for a 20-unit

garden condominium or a 2,000

home active adult community, the

science behind budget preparation is

the same. Investing sufficient time and

energy to properly prepare a bud-

get and then educating both boards

and homeowners throughout the pro-

cess should lead to successful budget

cycles year after year.