Finance 101 for Community Managers – Get a leg up on 2019 budget prep and financial review
IN THIS ISSUE CONFLICT OF INTEREST DISCLOSURE REQUIREMENTS FOR COMMUNITY MANAGERS The who, what, when and how of California’s recently enacted statutory requirements. NEW FINANCIAL REVIEW REQUIREMENTS Navigating the legislative changes to the Davis-Stirling Common Interest Development Act and how it impacts boards that do not have monthly meetings.
SPRING 2019
Be Ready for All Seasons with Strategic Planning Improve Operations, Increase Property Values and Strengthen Community Engagement BY JOHN F. BAUMGARDNER, ESQ. – CHAPMAN & INTRIERI, LLP
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community’s character and property values can be directly related to the maintenance of an association’s common areas. Community upkeep can also impact an association’s membership level of satisfaction, either positively or negatively. To safeguard an association’s ability to effectively and efficiently conduct maintenance, it must tackle long-term, strategic planning related to its maintenance, repair, and replacement obligations. Effective longterm, strategic planning will identify and
ensure compliance with an association’s obligations, engage the membership in decision making, and evaluate alternatives to current practices.
Identifying And Ensuring Compliance With Association Maintenance Obligations An association’s maintenance obligations are often provided within the association’s governing documents. These obligations are generally established by the original builders of the property to
designate common areas maintenance vs. separate interest maintenance. Depending on the type of community (i.e., condo vs. single family homes), the vast majority of these critical maintenance obligations may fall on either the association or individual homeowners. Although these documents cover most maintenance obligations, additional obligations can be found within the Davis-Stirling Act (Civil Code § 4775) and product warranty information for Continued on page 2