WHAT BOARDS DON'T GET- AND WHAT THEY GET WRONG BY NENA GROSKIND Of all the obligations with which condominium association boards are charged, preparing the annual budget is among the most important. The budget defines the community's priorities, sets its funding requirements and affirms its financial health. It requires trustees to estimate the revenue needed to operate the community and calculate the dues owners must pay to provide those operating funds. That sounds straightforward, and the math involved is pretty simple. But the budgeting process is often anything but. Planning July 2019 CONDOMEDIA 31