Timeline for HOA Budgets and Reserve Studies
Following is an example of an ideal timeline for a homeowner association that has a December 31 fiscal year-end.
| May 1 | Authorize reserve study provider to start reserve study process. |
| June 1 | |
| July 1 | Send reserve study to board for approval. |
| August 1 | Send budget draft to board for their review. |
| September 1 | |
| October 1 | Send budget for next fiscal year to owners. |
| November 1 | |
| December 1 | Last day to send budget for next fiscal year to owners. |
| December 31 | Fiscal year-end. |
Zero - Based Budgeting
Zero-based budgeting is a financial planning method in which every expense item must be justified and approved for each new budget period starting from a zero base instead of relying on prior budgets. Unlike traditional budgeting that uses previous budgets as a baseline and makes adjustments from the prior budget, zero-based budgeting starts from the ground up.
Pacific Reserve Studies
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