Evaluating Assessments: Understanding Association Budgets in Today's Financial Climate
Community associations face complex financial decisions and often face opposition to assessment increases. As insurance premiums skyrocket, mandates force communities to save, and costs generally increase, many homeowners demand that assessments are set as low as possible. Where does that leave community operations, maintenance, and repairs? How can communities ensure that their assessments are right-sized, aligning expenditures with the actual costs of maintaining and operating the property? How can communities convince owners of a budget plan that puts the association on a financially prudent course?
Join our panel of experts to hear:
· The legal, technical, financial, and social considerations that influence community budgets
· How to quantify the gap between a current and right-sized assessments
· How to create and execute an actionable plan to support the chosen course
Community associations face complex financial decisions and often face opposition to assessment increases. As insurance premiums skyrocket, mandates force communities to save, and costs generally increase, many homeowners demand that assessments are set as low as possible. Where does that leave community operations, maintenance, and repairs? How can communities ensure that their assessments are right-sized, aligning expenditures with the actual costs of maintaining and operating the property? How can communities convince owners of a budget plan that puts the association on a financially prudent course?
Join our panel of experts to hear:
-The legal, technical, financial, and social considerations that influence community budgets
-How to quantify the gap between a current and right-sized assessments
-How to create and execute an actionable plan to support the chosen course
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Eric Churchill serves as the executive vice president at Schernecker Property Services in Needham Heights, Mass. Eric plays a crucial role in working closely with clients and the management team to deliver exceptional value and long-term solutions for condominium communities. Eric firmly believes in a comprehensive and collaborative approach to planning. He understands the importance of working together with board members, property managers, and other professionals on behalf of communities and owners to ensure each community has an accurate, practical, realistic, and actionable plan that meets their specific needs.
Norm Orban is a partner with the law firm of Allcock & Marcus in Braintree,
Mass. His sole focus is representing condominiums and homeowners associations
in Massachusetts and Maine. He provides associations with general
representation and with litigation matters in state and federal courts. He has
been an active member of the CAI New England Chapter since 2017 and is
presently on CAI New England’s Board of Directors
Continuing Education Credit
This program provides 1 credit toward:
- Certified Manager of Community Associations recertification
- Association Management Specialist redesignation
- Professional Community Association Manager redesignation
To earn credit, you must be personally registered for this program and print the certificate of completion to document your participation.
Manager Certifications and Designations
Certified Manager of Community Associations (CMCA®)/ Association Management Specialist (AMS®)/ Professional Community Association Manager (PCAM®)/ Large-Scale Manager (LMS®)
Management Company Designation
Accredited Association Management Company (AAMC®)
Business Partner Designations and Distinctions
Reserve Specialist (RS®)/Community Insurance and Risk Management Specialist (CIRMS®)/Educated Business Partner
