1. Governing Documents

Confirm all governing documents are up to date and accurate. If your association implemented any approved and recorded amendments, those should be saved with the master governing documents. If there are any changes that the Board would like to make to the governing documents, you should review and discuss these with your management company and attorney.

2. Legislation Updates

Determine if any new laws or ordinances that impact your HOA/COA are going into effect and make adjustments to guarantee compliance. As always, check with your association’s lawyer if clarification is needed.

3. Budget Plans

Schedule next year’s budget approval date now so you’ll have plenty of time to review all financial statements, expenses, historical trends, receipts, and any other items. Don’t forget to check for any price increases with utility companies, insurance carriers and any other vendors to avoid surprises.

4. Audit & Tax Plans

While your HOA’s/COA’s tax filing date may be months away, reach out to your association’s CPA now and schedule time in February to complete your taxes or conduct an audit. When tax season arrives, you’ll be prepared to meet deadlines and grateful you planned ahead.

5. Reserve Funds & Studies

Review your reserve study to ensure you have budgeted for your capital projects in the coming year, and to ensure your reserve account funds are in line with where they should be according to your reserve study.

6. Emergency Action Plan

Revisit your emergency action plan to ensure it’s up to date. Be sure it has all the necessary information and ensure that residents have access to the emergency action plan.

7. Insurance Policies

Confirm you’ve made all insurance payments, ask about premium increases, identify any new risks, and guarantee your association is covered properly and in compliance with all HOA/COA requirements.

8. Vendor Contracts

Conduct annual performance reviews with vendors and make sure your HOA/COA is getting what it wants and is charged appropriately for the services rendered. If vendors aren’t meeting agreed-upon expectations, consider interviewing other companies.

9. Inspect Assets

It’s good practice to inspect all of your association’s buildings and amenities on an annual basis. Anything your HOA/COA is responsible for maintaining, including furnishings and décor should make it on the list. This way, you can gauge the health of your assets and plan for necessary repairs, maintenance, or replacement. You might also recommend improvements or upgrades. Regular inspections ensure your assets remain in excellent condition and prevents unplanned spending.

10. Meeting Schedules

Even if dates are tentative, mark the annual meeting, board meetings, and committee meetings on the calendar so people can make plans to attend. Don’t forget to account
for seasonal adjustments and note when meeting notifications must be sent.

11. Maintenance & Renovation Calendar

Walk the property with your maintenance vendor(s) and identify areas that need to be addressed. Schedule each task for the month it should be completed, and inform residents of any amenities that may be affected and their closure/reopening dates.

12. Special Event & Holiday Calendar

Create and communicate a special events calendar for the upcoming year now to increase attendance and awareness. Note on-site office and building closures on the calendar as well.

New Year, New Community

With so many initiatives battling for your board’s attention, it can be tough to decide which ones will make the most impact on your community’s bottom line. Use these ideas as a guide to keep you on track all year, or use them as a starting point to brainstorm a custom plan for your community. Be sure to check out Ardent’s YouTube page for informational videos designed to help you and your board maintain your associations overall health.