HOA budget season: a simple timeline for volunteer boards

For most associations, fall is when next year's budget gets made, approved and sent to owners, and when the dues statements that fund it go out. Here's a simple timeline for a volunteer board.

Community associations collected an estimated $124.2 billion in assessments in 2025, and 30–40% of associations are self-managed by volunteer boards (Foundation for Community Association Research, 2025). If yours is one of them, this guide is for you.

A typical timeline (calendar fiscal year)

September–October: draft. Treasurer pulls this year's actual spending, vendor contracts, insurance renewal quotes and the reserve study. Draft next year's operating budget and reserve contribution.
October–November: board review and adoption. Adopt the budget at an open board meeting, following your bylaws.
November–December: notify owners. Send the budget and the new dues amount. Many states set deadlines for this. For example, California requires the annual budget report to be distributed 30 to 90 days before the end of the fiscal year (Cal. Civ. Code §5300). Check your state's law and your documents.
December: send dues statements for January 1 (or whenever your dues are due), with the amount, due date and how to pay.
January onward: track and remind. Keep a paid/unpaid list and send polite reminders before any late fee applies.

Budget checklist

Insurance renewal (often one of the biggest increases, so get quotes early).
Reserve contribution matched to your reserve study.
Landscaping, utilities, maintenance contracts and any planned projects.
Management, legal, accounting and tax-filing costs.
A realistic allowance for late or unpaid dues.

Explaining a dues increase to neighbors

Show the two or three line items that drove it, what the reserve study says, and what happens if you don't fund it. Plain numbers in one page beat a long letter.

Calculating fees for owners who pay late? Try our free HOA late fee calculator and dues letter generator.

Let us send the statements. DuesLetter prepares every owner's annual dues statement, tracks who has paid and sends polite reminders. From $149 a year for up to 100 homes.

See 3 free sample statements

Informational only, not legal or accounting advice. Timing and notice rules depend on your governing documents and state law.