Fiore Yearly Budgets
Condo association budgets are crucial for the effective management and maintenance of shared residential spaces.
The budget determines the amount of money that can be allocated to cover the operating expenses of the association, including maintenance, repairs, and improvements to the common areas.
It also outlines the contributions that each homeowner must make toward the association's financial obligations.
2023 Fiore Budgets
Approved Operating Budget
A well-planned budget is necessary to ensure that the association remains financially stable and can meet its financial obligations while keeping the fees affordable for homeowners.
The responsibility for managing the finances of a condo association rests with its board of directors. Homeowners within the association are assessed fees that are used to fund the operations of the association, including repairs and administration.
The board of directors is responsible for reviewing the upcoming year's budget, which includes setting the annual fees needed to cover the cost of services, while also maintaining a reserve for emergencies.