Cohousing-L Mailing List: Re: Guidelines for teams managing budgets

[Peter Orbeton (peter.orbeton]

Echoing the Reverend Dr. and Mac; quite similar at Nubanusit Neighborhood &
Farm.

About a decade ago, when Treasurer, I cribbed an approach someone had
posted here because our process had been excruciatingly painful, rejiggered
things, and we've been using it since. Budget items are assigned one of
three categories:

Inescapable - Got to do this. Long Term Reserves, for example.
Traditional - Want to keep doing this. Professional washing Common House
windows, for example.
Initiative - Want to do this; new. EV charging stations, for example.

Historically, Inescapable takes the whale's share; the rest is minnow feed
in reality. Team's understand their Traditional line items can vary
depending on our financial circumstances. Can't overemphasize the
importance of a realistic Contingency bucket.

Thanks to this forum for pointing us to the methodology.

Regards, Peter Orbeton


On Wed, Jan 10, 2024 at 2:57 PM Marjorie Kamine <mkamine [at] gmail.com> wrote:

> We just consensed on our first new annual budget after our HOA turnover.
> All teams were involved in setting their team budgets and now we want to
> encourage them to "own and track" their budgets and stick within them as
> best as possible. We know that unexpected expenses that they didn't think
> of in just one year of operating might come up and Finsnce is wondering if
> anyone can share your "budget guidelines for teams." Do you have policies
> in place regarding when teams need to come to Finance if they have gone
> over or anticipate going over, and does your Coho have a threshold amount
> that a team is requesting that might actually need to go to the community
> to consense on? Any guidance, samples of guidelines would be appreciated.
> Marjie at River Song Cohousing, Eugene. mkamine [at] gmail.com
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