Assessment Increases Not Adequate

Many associations have approved a budget for 2026 but have not increased their assessments sufficiently to cover all known and anticipated expenses including at least 10% of the budget for reserves. These associations and their members should anticipate special assessments next year and possibly a delay in getting essential work completed. It is the responsibility of all HOA boards to approve a budget that covers all expenses. See: Breach of Fiduciary Duty by Directors of Homeowner Associations.