Free tools / HOA budget spreadsheet
HOA budget spreadsheet template
A simple yearly budget for a small association, filled in with a worked example for 24 homes so you can see how the numbers fit together. Replace the example with your own.
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What is in the budget
| Section | What goes there |
|---|---|
| Income | Regular dues, plus anything else you expect: late fees, interest, clubhouse rentals. |
| Operating expenses | One line per kind of cost, with last year's actual next to this year's budget. |
| Reserve contribution | What you set aside this year for large future repairs. |
| Dues per unit | Total to collect divided by the number of units, per year and per billing period. |
The worked example
Maple Court has 24 homes. It expects to spend $28,000 on operations and to put $6,000 into reserves, so it needs $34,000. Split equally, that is $1,416.67 a home each year, or $354.17 a quarter. You can check the sum with the dues calculator.
How to use it
- Put last year's actual spending in the "last year" column. Your bank statements are the source.
- Adjust each line for this year. Insurance and utilities usually rise; call your insurer rather than guessing.
- Add the reserve contribution. If you have a reserve study, use its figure.
- Check the dues per unit against what owners pay now, and against any limit on increases in your governing documents or state law.
- Present it to the board, and to the owners in the way your documents require.
A template is a starting point, not financial or legal advice. Some states require particular budget disclosures, reserve studies or notice to owners. Check your state's statute and your governing documents.
When the budget is adopted, DuesDesk can bill the dues, track what you spend against each line, and show budget against actual all year. Start free.