Five Tips For Cold Weather Planning

DON'T LET SNOW BURY YOUR BUDGET 不 5 TIPS FOR COLD WEATHER PLANNING 正 You can't predict the weather, so how do you anticipate how much you'll need to spend on snow removal this winter? Plow through these helpful tips. 1) Start with last year's costs Find out: If your weather patterns indicate the need for a deferred snow removal fund. • How much did you pay for snow removal services last winter? • Take a look at last year's vendors' costs. While you can't predict frequency of visits, you can anticipate service call fees. • Contact local snow removal providers and compare estimates to ensure you're getting the best price and quality! Move It If you've spent more than you anticipated on snow removal, look for budget surpluses from last year to offset costs. Check for surpluses in your: • General operating fund •Working capital • Deferred snow removal fund Reallocate $4 Ease an avalanche of budgetary bad news by reallocating funds from other expense categories to cover your snow removal shortfall. 4. Avoid Getting Buried When surpluses and reallocations won't cover the deficit that a hard winter has created, you've got to take action by issuing a special assessment or amending your budget for the year. Hot Tip for Snowy Days: A good property management can help you plan and execute effective actions to weather whatever comes your way! • Special assessments can be paid in installments over time. • An amendment to the budget can enable you to make up the shortfall within a certain time period. • Absolutely avoid carrying over the deficit into the next year. Nobody Likes Getting Snowed Communication is essential, so keep your community members informed. Time your news right: requesting more money due to weather when there's snow on the ground can yield better results than asking on a warm, sunny day. REMEMBER THESE TIPS -- When the season changes you'll be springing forward in good fiduciary health. For more information, contact FirstService Residential. FirstService RESIDENTIAL %24 3