Having a budget process to plan for and predict expenses can preserve the fiscal health of your association. Kara Cermak, a CAI national faculty member, and Steve Silberman, an experienced community association accountant, team up to discuss ways to think outside the box about operating expenses, reserves and much more. Learn how to prepare, execute and evaluate a successful budget and fulfill your fiduciary duties.

Topics

• How to create and balance a budget
• The difference between operating budgets and reserves
• Bad-debt write-offs and review of collection matters
• How to categorize expenses
• How to plan for maintenance on common elements

Speakers:

Kara Cermak, CMCA, AMS, PCAM, is president of Rowell Incorporated AAMC. She has 21 years of experience with the company, managing communities and on-site managers, overseeing the day-to-day operations of the organization, and heading the community management budget and accounting department. She has served as a board member for the Illinois chapter of CAI for eight years, including one year as president, and speaks regularly for the local chapter. She teaches three courses for CAI, including The Essentials of Community Association Management (M-100).

Steven M. Silberman, CPA, is a vice president and secretary at Frost, Ruttenber & Rothblatt. He joined the firm in 1978 and has been instrumental in building the condominium and homeowners association specialty area from five association clients in 1978 to more than 400 association clients currently.

Continuing Education Credit

This program provides one 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.

Registration Information

All registrants will have full access to this on-demand, online recording for 120 days.

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^®)

Service Provider Designations and Distinctions

Reserve Specialist (RS^®) / Community Insurance and Risk Management Specialist (CIRMS^®) / Educated Business Partner