 One of the most integral parts of managing a Community Association is creating a budget to help guide the year. Next to the governing documents, the budget is the most important management tool and here’s why: - The Association budget outlines expected expenses which will be paid for through collected assessments. The budget allows an association to provide the most “real” assessment number to assign each unit. - The Association budget shows potential buyers into the Community what their assessments go towards, and that their Association does their due diligence with finances. How does an Association budget get made? The Board, along with the guidance of the Community Manager, will utilize the prior years’ budget as a baseline for creating the current/future budget. Several line items are consistent year to year, while others will come and go based on a reserve study, past projects, upcoming projects and identified future expenditures by the Board. A reserve study is critical to creating an accurate budget to accommodate for expected replacements and properly fund the reserve account. A reserve study also helps the Association accurately budget for Assessments to avoid a Special Assessment down the line. Community Managers keep a pulse on the consumer price index to adjust annual increases in Community trash, Association insurance, Community snow removal, Landscaping Maintenance and other Community line items that are affected by inflation and inform the Board so they can properly adjust those line items accordingly. Association Budgets are a complex process with lots of moving parts and are the piece that drive Assessments and functionality of the future of the Community. When they are done correctly, an Association should not see a Special Assessment or giant increase in overall monthly Assessments. Bree O'Neil - Community Manager
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 Cristi Agan Accounting Associate 7 Year Work Anniversary What is your favorite thing about DAM/our team?
We have fun! #workhardplayhard Based on your experience, do you have any advice for HOA professionals (company wide)? Stay positive! What three words would you use to describe DAM/culture? Fun, Committed, Community Oriented When you were a kid what did you want to be when you grew up? Stewardess What’s your favorite activity to do outside of work? Going for walks What’s your favorite number? 36 & 8 What's the last thing you did that was new to you? Ziplining!  Happy June everyone!
This year has flown by, it is hard to believe that summer officially begins on June 21st. If you have not already begun, it is time to focus on your landscape. Below are some useful tips to assist in the preparation of summer landscaping. Watering Water lawns and other plants during the morning hours. This practice will supply your landscaping with a stash of water to get them through the day. Colorado Springs and many surrounding cities have water restrictions in place, you may water up to three days a week from May 1 to October 15 before 10am and after 6pm. Something to also keep in mind is that overwatering drowns the turf, as the porous spaces that otherwise would hold important oxygen for the plant are filled with water. The result is the development of shallow root systems for the turf. Do not leave any water retaining receptacles (toys, old tires, etc.) around the yard. They make ideal breeding places for mosquitoes and other pests. Mowing While mowing the lawn, do not remove more than one-third of the leaf blade at a time, and remember to rake up grass clippings after mowing. Weeds If weeds are showing up, be proactive and get them handled before they get out of control. Weeds steal moisture, nutrients, space, and light from your plants. Good air flow conditions around plant foliage will help reduce diseases. Additions and maintaining your landscaping. Give your plants a boost with fertilizer. Fertilizer provides your lawn and landscaping the essential nutrients to grow faster and healthier. Happy lawns have fewer weeds. Kelsey Knudson - Community Manager |
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