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 1Authorize reserve study provider to start reserve study process.
June 1
July 1Send reserve study to board for approval.
August 1Send budget draft to board for their review.
September 1
October 1Send budget for next fiscal year to owners.
November 1
December 1Last day to send budget for next fiscal year to owners.
December 31Fiscal year-end.

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