1. Put essential records in one place
Gather your governing documents, current budget, financial statements, vendor agreements, insurance information, and meeting records. Identify who maintains each record and who needs access.
2. Assign an owner to recurring work
List the tasks that repeat: reviewing transactions, billing dues, handling owner questions, preparing meeting materials, and following up on maintenance. Give each task a responsible person and a backup.
3. Establish a financial review routine
Agree on a regular time to review bank activity, outstanding balances, and budget performance. Document decisions so the next review starts with a clear record.
4. Make it easy for owners to reach the board
Choose a consistent place for questions and requests. Explain what information an owner should provide and how your board will follow up.
5. Plan for the next board
Keep a transition checklist with account access instructions, open requests, upcoming deadlines, and the location of important documents. Keep passwords in a secure password manager, separate from general community documents.
General organizational guidance. Adapt your board’s practices to its governing documents and applicable requirements.
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