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| Providing Community Association Insurance for over 25 years: D&O Liability, Crime Products, Umbrella Coverage and Property Manager's Errors & Omissions Liability. |
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RS
(Florida)
Posts:1
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| 10/17/2006 7:50 AM |
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| We were finally able to get out our old board using a recall. We have been working on next year's budget and wondered if HOA funds (collected thru yearly fees from the homeowners) can be budgeted to some of our committees, such as the Welcoming Committee and the Events Committee or can these funds only be strictly used for Landscaping, maintenance, reserve, utilities and paying our management company...we are in Florida...I can't seem to find a reference as to what collected funds can be used for. If we want to use HOA money for an event, say a Spring Festival, do we have to raise money for that or can we budget for that thru HOA funds? |
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RogerB
(Colorado)
Posts:3725
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| 10/17/2006 8:11 AM |
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| FS, I believe these are appropriate HOA expenses so long as all owners may attend or derive benefit. In Colorado funds are budgeted for social functions and committee and Board meeting expenses. I know of some associations that have parties where alcohol is provided. I totally discourage this and do not think it is appropriate. |
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Roger Borcherding
Official HOATalk.com Sponsor
DARCO Property Management (Colorado)
(303) 925-0150 
*See legal notice below (end of page) or go to www.hoatalk.com/legal |
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CharlesW1
(Georgia)
Posts:821
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| 10/17/2006 8:12 AM |
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RS,
I could be wrong but, I would think you would budget for these expeses for such events. If the board doesn’t budget for them, then it would be extremely difficult for your community to enjoy all the benefit because of the limited funds.
I think this would be a go!
We have a budget of $500.00 per event! I hope this is the case if not then we have been spending HOA money on these events. OOPS
Chuck W.
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Charles E. Wafer Jr. |
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MikeS1
Posts:0
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| 10/25/2006 6:34 AM |
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| We established a Welcoming Committee with a very modest budget and it was a big success. Every new homeowner gets a little welcome basket filled with valuable information about the community and the area. The P.M. notifies the Committee chair when a new owner resident moves in and the renters are a little harder to track; however, it's a great way to communicate with the new homeowner when they first move in, so that they know about simple things like trash, recycle day, parking policies, etc. I highly recommmend it. |
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WilliamT
(Arizona)
Posts:489
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| 10/25/2006 7:01 AM |
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Mike, would you provide some details on what you have in the welcome basket. We would like to develop one in our community.
Thanks in advance. |
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MikeS1
Posts:0
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| 10/25/2006 7:47 AM |
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William, I've asked for an inventory of the welcome basket and I do know that it has a handy, smaller document similar to the pdf that I'm going to reference here, but it will take a day or two to get this info. I saw a sample package at one time (and it was very nice), but don't remember exactly all the items that were in the package. Here's one item that was included in a smaller more convenient format. Copy this URL into your browser and check it out. http://www.unionmills.com/documents/welcome.pdf
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MikeS1
Posts:0
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| 10/25/2006 10:22 AM |
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William - FYI - The welcome basket consists of a plastic utility basket, a flashlight, a candle, an inexpensive tackhammer set and picture hangers, along with the magnet holding contact phone numbers for essential services, as well as UM Committees and information.
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WilliamT
(Arizona)
Posts:489
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| 10/25/2006 10:25 AM |
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| Thank you Mike |
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