Control of Future Fees A NEW APPROACH TO FINANCIAL STRATEGIC PLANNING BY PAUL E. PAKOS I f you are a property manager or board member of a condominium or homeowner association, like most others, you do a respectable job of creating a strategic plan to maintain your community in future years. You have a Capital Reserve Study to guide you and you schedule major capital repairs accordingly. That takes care of the physical assets, but what about your financial assets? Chances are that you assume that the income will always be there because you have the authority to increase fees and/or levy assessments as necessary. While you may have the authority, unless you have a reliable forecast not only of future expenses but also of the fee levels required to meet those expenses, you run the risk of your fee levels becoming a problem. December 2019 CONDOMEDIA 45