community as well – they are equally impacted by budget increases and spending; as such, they are watching out for the best interests of the association. Boards should strive for honesty and openness in everything they do. This will create an environment of cooperation and trust.
One effective means of achieving this is to provide a breakdown of expenditures. An analysis of the association’s budget can be graphically illustrated in pie chart format, making it easy to visualize the line items or categories and the percentage of total operating income being spent on each. For example:
Monthly assessment for the calendar year = $200 • General & Admin – 27% • Maintenance – 14% • Contract Services – 32% • Reserves – 27%
The best method for communicating this type of information is a community website. An association website is an essential communication tool that can be utilized to create goodwill and a positive reflection on your community.
• In the above example, a detailed write-up by your board treasurer explaining the budgeted expenses could accompany the pie-chart visual, helping the homeowners to understand the process and alleviating concerns.
• Improvement projects completed throughout the year (new trees planted on the property, monument improvements, roof replacements, clubhouse redesign, tennis court resurfacing, a fishing pier installed on the pond, etc.) can be showcased in a photo gallery.
• Individuals participating on committees can be recognized for their contributions to the betterment of the community.
• A monthly column or bulletin by your property manager is a great vehicle for providing project updates to help keep homeowners informed.
• For those communities with a clubhouse and a complete calendar of events, a social committee or social coordinator can keep the website updated with current activities taking place.
Most homeowners nowadays are fairly computer savvy, but you may still have those holdouts who prefer to remain “old-school.” If you find there is a lack of interest among residents in a community website, another viable option for keeping homeowners informed is a monthly newsletter. Don’t have the time to produce one? More than likely, someone in the community with the skills and talents in this area would be willing to volunteer their time; or perhaps a committee could be established. Ad space made available to local vendors not only provides the necessary revenue to
22 | COMMON INTEREST®
• Spring 2019 • A Publication of CAI-Illinois Chapter
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