Condo Media - July 2012 - 6

N e w s

Inside:

CAI N E W S
MEMBERSHIP NEWS

C A I

6 Membership News 8 Upcoming Events 16 Maine News 18 Massachusetts News 20 Rhode Island News 22 Vermont News

Best Practices
Financial Operations
roper financial management is an important element of building better communities. While responsibility for an association’s finances rests with the board,

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Top Hits on the CAI-NE Web Site
www.caine.org

there are several areas in which advice should be sought from qualified financial professionals. The Best Practices report on Financial Operations, published by the Foundation for Community Association Research, can provide some of that advice.

Financial Operations and Budgeting
The board of directors, particularly the treasurer, is ultimately responsible for the association’s funds and they may not abdicate their fiduciary responsibility. Given the reality that boards are made up of a diverse group of individuals with varying degrees of financial knowledge, the report includes guidelines that should be followed to ensure sound financial operations. A broad range of topics are covered, including banking, planning, disclosure, policies, record keeping and budgeting. The budgetary roles and responsibilities of the board, treasurer, owners and association manager are defined in a community association’s governing documents and management contracts. These roles should be communicated to those involved in an effective manner to ensure that the appropriate expectations are met, and the report outlines the responsibilities of volunteers and professional staff

The CAI-NE Web site, www.caine.org, provides invaluable resources and information for volunteer board members and industry professionals. The top five pages:
1. Programs and Events: M-100 Essentials of Community Association Management 2. Helpful Resources: Condominium Statutes 3. Sponsorship and Advertising: Chapter Partnerships 4. About CAI-NE: Committees 5. Condo Media Magazine: Digital Issue

typically charged with developing community association budgets. The Foundation for Community Association Research (FCAR) and CAI are dedicated to conducting research and acting as a clearinghouse for information on community association innovations and best practices. As part of the Best Practices project, other guidelines are available on governance, reserve studies, strategic planning, community harmony and spirit, energy efficiency and transition. All the reports can be found at www.cairf.org as a free download. CM

6

CONDO MEDIA • JULY 2012

http://www.caine.org http://www.caine.org http://www.cairf.org

Condo Media - July 2012

Table of Contents for the Digital Edition of Condo Media - July 2012

Condo Media - July 2012
Contents
From the CED’s Desk
President’s Message
CAI News
CAI Regional News
Asked & Answered
Homeowner’s Corner
Financial Questions
CertaPro Painters How a Multinational Corporation Keeps it Local for Clients
Protecting Your Association’s Assets Oversight and Due Diligence
Community Association Data Released
Your Condo’s Future Planning for the Expected — and the Unexpected
Lost in Translation Statutes Allow Community Associations to Set their Own Reserve Requirements — or Not
CertaPro Painters How a Multinational Corporation Keeps it Local for Clients
Advertisers Index
Classified Service Directory
Condo Media - July 2012 - Condo Media - July 2012
Condo Media - July 2012 - Cover2
Condo Media - July 2012 - Contents
Condo Media - July 2012 - From the CED’s Desk
Condo Media - July 2012 - 3
Condo Media - July 2012 - President’s Message
Condo Media - July 2012 - 5
Condo Media - July 2012 - CAI News
Condo Media - July 2012 - 7
Condo Media - July 2012 - 8
Condo Media - July 2012 - 9
Condo Media - July 2012 - 10
Condo Media - July 2012 - 11
Condo Media - July 2012 - 12
Condo Media - July 2012 - 13
Condo Media - July 2012 - 14
Condo Media - July 2012 - 15
Condo Media - July 2012 - CAI Regional News
Condo Media - July 2012 - 17
Condo Media - July 2012 - 18
Condo Media - July 2012 - 19
Condo Media - July 2012 - 20
Condo Media - July 2012 - 21
Condo Media - July 2012 - 22
Condo Media - July 2012 - 23
Condo Media - July 2012 - Asked & Answered
Condo Media - July 2012 - 25
Condo Media - July 2012 - Homeowner’s Corner
Condo Media - July 2012 - 27
Condo Media - July 2012 - Financial Questions
Condo Media - July 2012 - 29
Condo Media - July 2012 - 30
Condo Media - July 2012 - 31
Condo Media - July 2012 - 32
Condo Media - July 2012 - 33
Condo Media - July 2012 - 34
Condo Media - July 2012 - 35
Condo Media - July 2012 - 36
Condo Media - July 2012 - 37
Condo Media - July 2012 - CertaPro Painters How a Multinational Corporation Keeps it Local for Clients
Condo Media - July 2012 - 39
Condo Media - July 2012 - Protecting Your Association’s Assets Oversight and Due Diligence
Condo Media - July 2012 - 41
Condo Media - July 2012 - Community Association Data Released
Condo Media - July 2012 - 43
Condo Media - July 2012 - Your Condo’s Future Planning for the Expected — and the Unexpected
Condo Media - July 2012 - 45
Condo Media - July 2012 - Lost in Translation Statutes Allow Community Associations to Set their Own Reserve Requirements — or Not
Condo Media - July 2012 - 47
Condo Media - July 2012 - 48
Condo Media - July 2012 - 49
Condo Media - July 2012 - CertaPro Painters How a Multinational Corporation Keeps it Local for Clients
Condo Media - July 2012 - 51
Condo Media - July 2012 - 52
Condo Media - July 2012 - 53
Condo Media - July 2012 - 54
Condo Media - July 2012 - 55
Condo Media - July 2012 - 56
Condo Media - July 2012 - 57
Condo Media - July 2012 - 58
Condo Media - July 2012 - Classified Service Directory
Condo Media - July 2012 - 60
Condo Media - July 2012 - 61
Condo Media - July 2012 - 62
Condo Media - July 2012 - 63
Condo Media - July 2012 - 64
Condo Media - July 2012 - Cover3
Condo Media - July 2012 - Cover4
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