Here at Columbia Association (CA), we believe that our organization’s budget is a tangible demonstration of our priorities and values.
Approving CA’s budget is one of the key tasks and biggest responsibilities the Board of Directors undertakes every year. This is when the Board determines investments in CA’s programs and services, allocates funds for capital projects and sets limits for the Annual Charge and membership rates.
The budget input and approval process culminates in late February when the budget for the upcoming fiscal year is approved. CA’s annual budgets begin on May 1 and end April 30 the following year. That means Fiscal Year 2024 (FY 2024) begins on May 1, 2023. Click here to access past budgets and financial information.
This year’s process starts in August when we ask for the public’s feedback through an online survey. Click here to download a timeline for the FY2024 process.
The Board is scheduled to start discussing FY 2024 during its regularly scheduled work session on September 8. The Board is set to narrow down top priorities and vote on those at the meeting on September 22. You’re always welcome to participate in Resident Speakout, which happens at the start of every Board meeting and work session. Those meetings are also live streamed and recorded on YouTube.
CA staff reviewed the Board’s approved priorities and the community’s input before publishing draft allocations for the FY2024 capital budget and a draft operating budget split into fixed and changeable expenses. This breakdown allows the Board and the community to consider how much of the budget can actually be altered and what trade offs may have to occur to make any changes. That pre-draft workbook was published in late October.
This was followed by a second online feedback opportunity. During a regularly scheduled meeting on October 27, the Board discussed the draft in the fixed/changeable expenses format.
CA staff held a special information session on November 1, where the public is invited to bring additional comments and questions about the budget process. Click here to watch a recording of that information session.
The Board discussed feedback from all channels during their regularly scheduled meeting on November 10 before voting on the draft capital allocations and the draft operating budget – based on the fixed and changeable expenses format – on December 8.
Staff has now released a draft budget for the Board’s consideration and approval. You can find the detailed version of the FY2024 draft budget below, as well as a transmittal letter that provides an overview of factors and considerations.
We will update information throughout the FY24 process, so bookmark this page and check back for more information.
