Across
- 2. Fund; A property savings account funded by a percentage of your association’s monthly fees that serves as a cushion to protect the building’s finances from the burden of necessary future expenditures.
- 5. The difference between the association’s assets and liabilities.
- 6. Mandatory fees that owners/members must pay on a monthly or annual basis and can differ based on the type of project and/or operating costs that need to be covered in the development.
- 7. The ethical and moral obligation of the Board to make decisions for the benefit of everyone in the community in a fair and prompt manner.
Down
- 1. Include the conduct, elections, and responsibilities of members of the board as well as provisions on the board of directors, internal governance, and the association’s operation.
- 3. The difference between expected and actual expenditures.
- 4. Type of maintenance repairs that get postponed and marked as a lower priority status in order to save costs, meet budget funding levels, or realign available budgets.