What Should Your Yearly HOA Goals Look Like?
If you’re a board member, ask yourself this:
How should my community and I define our annual HOA goals?
Kick off the year by taking a close look at your financials. When you review and update your annual budget, ensure it accounts for upcoming needs, routine expenses, emergency repairs, and healthy reserve contributions. A realistic budget not only keeps operations running smoothly but also provides a solid foundation for everything else you’ll tackle throughout the year.
At the same time, keep in mind that:
Over time, HOA documents can become outdated or inconsistent. A yearly review of your bylaws and CC&Rs can help identify unclear language or areas that need legal updating. This is also a good time to make sure enforcement policies and voting procedures are clearly defined.
Now that your annual budget and governing documents are updated,
It's easier to build trust through transparent communication. Make a point of strengthening your connection with homeowners: hold open board meetings, carve out time for questions, and share regular updates so everyone feels included.
Remember this: setting goals is just the beginning.
Tracking and evaluating progress makes those goals achievable. Mid-year board sessions can help review progress and discuss any adjustments if needed. End-of-year evaluations also make it easier to set next year’s objectives.
Final Thoughts
Annual goal setting keeps your HOA proactive and on track. Whether your board is experienced or just getting started, HOA Simplified can help: a structured, forward-looking approach will keep things running smoothly!
Key Definitions that might help:
Annual HOA Goals: The objectives set by the board at the start of each fiscal year, often covering budget targets, governance updates, communication milestones, and operational projects, to guide the association’s priorities.
Routine Expenses: Recurring operating costs, landscaping, utility bills, janitorial services, small repairs, that are necessary to maintain everyday community functions.
Emergency Repairs: Unplanned, urgent repair costs (e.g., broken irrigation, storm damage) that fall outside normal maintenance and must be funded promptly to protect property and safety.
Enforcement Policies: The formal procedures and penalties (warnings, fines, liens) the board follows to ensure homeowners comply with CC&Rs and association rules.
Voting Procedures: The methods and timelines by which homeowners cast ballots on elections, rule changes, or special assessments (mail‐in ballots, online voting, in‐person voting), as defined by bylaws and state law.
Board Sessions (Mid-Year & End-of-Year): Structured checkpoints, often informal workshops or retreats, where the board reviews progress on annual goals, adjusts strategies, and sets objectives for the remainder of the year or the next cycle.
Evaluations: Formal reviews at mid-year or year-end where the board measures actual outcomes against goals, financial performance, governance updates, communication effectiveness, to inform future planning.
