Timeline for HOA Budgets and Reserve Studies
Following is an example of an ideal timeline for a homeowner association that has a December 31 fiscal year-end.
May 1 Authorize reserve study provider to start reserve study process.
July 1 Send reserve study to board for approval.
August 1 Send budget draft to board for their review.
September 1 October 1 Send budget for next fiscal year to owners.
November 1 December 1 Last day to send budget for next fiscal year to owners.
December 31 Fiscal year-end.
Nationwide Accounting Services