Protecting the financial health of your association is a primary responsibility as a board member. It is important to consider all factors that contribute to financial success as you create and manage your budget. This includes partnering with the right banking and insurance providers. Your management company plays a key role in guiding you. Making the right decisions and proper oversight can lead to more effective budgeting and long-term stability.
-
What attributes should you look for in financial and insurance partners?
-
Is your association receiving the best rate of return on funds? How would you know?
-
What’s your fiduciary responsibility as a board member?
-
What insurance gaps do you want to avoid to mitigate risk to you and your association?