Budgeting 101 for Multifamily Affordable Housing Projects

The Operating Budget is the financial foundation of a property. It establishes reasonable financial goals for a property and provides guidelines for accomplishing them. The financial performance of a property is measured by comparing the monthly financial statement, which reflects income and expenses, to the budget. A budget serves as both a guide and a safety check: a guide in that it sets realistic financial goals for the property, in light of the owner’s requirements and the property’s ability to generate income, and a safety check in that it establishes expense limitations and income requirements. This three-hour live webinar will assist property managers in understanding types of budgets, styles of budgeting, budget preparation, expenses relating to property operations, and reserve accounts. Manager participation in budget preparation is crucial – this session will assist managers in their understanding of that important role.