Common use of Establishing the Supplemental Budget Clause in Contracts

Establishing the Supplemental Budget. If for any reason the Association does not have enough money to pay all Association Expenses on a current basis, the Property Manager must prepare a revised Budget. Upon review and approval by the Board, this revision (with any changes the Board may make) will become the “Supplemental Budget” for that year. A Supplemental Budget may be established as many times each year as is needed. It may also be established due to any extraordinary item. This is any major item which was not provided for in the current Budget or in the Capital Reserve Account.

Establishing the Supplemental Budget. If for any reason the Association does not have enough money to pay all Association Property Expenses on a current basis, the Property Manager must prepare a revised Budget. Upon review and approval by the Board, this revision (with any changes the Board may make) will become the “Supplemental Budget” for that year. A Supplemental Budget may be established as many times each year as is needed. It may also be established due to any extraordinary item. This is any major item which was not provided for in the current Budget or in the Capital Reserve Account.

Establishing the Supplemental Budget. If for any reason the Association does not have enough money to pay all Association Expenses on a current basis, the Property Manager must prepare a revised Budget. Upon review and approval by the Board, this revision (with any changes the Board may make) will become the “Supplemental Budget” for that year. A Supplemental Budget may be established as many times each year as is needed. It may also be established due to any extraordinary item. This is any major item which was not provided for in the current Budget or in the Capital Reserve Account.as