[ Events ]
Saturday Seminar for Condos & HOAs
September 7 | In Bellevue, WA
For Community Association Board Members, Managers & Owners
Saturday, September 7, 2019
8 a.m. to 12:30 p.m.
“Budgeting Basics, Financial Controls and Legislative Requirements”
About Saturday Seminars: Education For Your Community Association
Date & Time
Registration & Breakfast:
8:30 a.m. – 12:30 p.m.
$35 (through 8/23)
$45 (though 9/4)
$55 (after 9/4)
$69 (through 8/23)
$79 (though 9/4)
$89 (after 9/4)
[ 9/7/2019 Seminar Topic ]
Budgeting Basics, Financial Controls and Legislative Requirements
A Seminar For Current & Future Board Members & Community Leaders
Budgeting is one of the primary responsibilities of boards of directors and management companies. Without a proper budget, financial statements are less meaningful. Without proper financial controls, the board, manager, and ownership can be at risk. We will discuss legal requirements, budget preparation, and 10 pitfalls to avoid.
WUCIOA: Did you know that there is an Act that went into effect July 1, 2018? The Washington Uniform Common Interest Ownership Act (WUCIOA). Although many sections of the Act apply to new communities, Section 326 “Adoption of Budgets – Assessments and Special Assessments” applies to ALL communities. The section addresses the budget and ratification process, the contents and disclosures included in the budget, including a statement about whether the association has a reserve study that meets the requirements of Section 331 (Reserve studies), and special assessment ratification process.
You will also learn about:
- Accounting methods, budgeting models and requirements.
- Budget components, steps to developing an accurate operating budget.
- How to incorporate the reserve study into the budgeting process.
- Looking at cash flow and retained earnings to measure the financial health of the association.
- Approval process and disclosure requirements.
- Steps for meaningful financial controls, and the basics of audits and the auditing process.
This budget class is in its 16th year and is one of CAI’s most popular classes. Be ready for an interactive session, with plenty of opportunity to ask questions and discuss budgeting and financial issues facing your community.
Printable PDF Registration Form
WSCAI 19101 36th Ave W, Ste 205
Lynnwood, WA 98036
Heather Hutchison, CMCA, AMS, PCAM
General Manager, First Hill Plaza Condominium Association
Heather Hutchison, CMCA, AMS, PCAM, is the General Manager at First Hill Plaza. Heather also lives in the First Hill neighborhood and is a member of the First Hill Improvement Association Board of Directors. She enjoys finding opportunities to support the healthy growth and enhancement of this vital and evolving portion of the city.
Heather was born and raised in Montana and moved to the Pacific Northwest shortly after graduating from Montana State University. In her free time, Heather loves to travel, having ventured to China, Europe and the United Kingdom in recent years. When closer to home, she enjoys getting lost while exploring new neighborhoods, hiking, photography and indulging her two spoiled felines.
Jeremy Newman, CPA
Owner, Newman & Associates CPA, PC
Jeremy Newman, CPA, brings a decade of experience providing audit and tax return services to the homeowners and condominium owners association industry. Annually, Jeremy’s original firm completes nearly 1,500 association audits and reviews in the Southwest. In May 2018 he purchased the Cagianut & Company, CPA practice, to continue providing outstanding audit and tax services to Pacific Northwest associations. The PNW practice services almost 900 Associations annually. Prior to entering the Community Association industry in 2008, Jeremy held finance and accounting positions with companies in the real estate industry; and was an audit manager with Ernst & Young LLP’s real estate audit practice.
Jim Talaga, RS
President, Association Reserves, WA
Jim Talaga, RS, is the President of Association Reserves, WA. Jim and his staff have been responsible for over 9,300 Reserve Studies in the Pacific Northwest since 1997, serving a wide range of facilities and interests. Prior to joining Association Reserves, Jim worked with his father for a decade building custom homes, and as a certified Real Estate appraiser. He is a noted authority on reserves and property issues, and a longstanding speaker and educator for the Community Association industry. Jim was a member of the Community Associations Institute Legislative Action Committee for eleven years, where he regularly participated in proposed legislation, and the drafting of laws affecting community associations. Jim is a credentialed Reserve Specialist (#RS 66), and has periodically served as a board member of two HOA’s.