10/15/2018 League Of Oakmont Maintained Area Associations

BUDGET TIME

(Again & Again!)

This is a reminder that in accordance Civil Code 5300, during the next few weeks associations will be finalizing their Operating Budgets for 2019.

Civil Code 5550 requires a Reserve Study every three years (refer to Community Association Statute Book 2014 Edition last distributed to all associations with the LOMAA Handbook Section C update for requirements).

The Pro-forma budget is due to be distributed to association members not more than 90 days or less than 30 days before the beginning of the Fiscal Year. The annual distribution of association policies and annual disclosures should be included with this distribution.

Next Board Meeting, Monday, November 5, 12:00 PM, Room B

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