Financial Reports

Overview of the FY 2024 budget process

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.

CA’s budget cycle

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.

Next steps

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 will review 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. Those drafts are set to be published on October 21. 

This will be followed by another online feedback opportunity. Click here to access the latest survey. During a regularly scheduled meeting on October 27, the Board will discuss the draft in the fixed/changeable expenses format.

CA staff will also host a special information session on November 1, where the public is invited to bring additional comments and questions about the budget process. Registration details for this virtual session can be found on the event page. You can also click here to register directly via Zoom.

The Board will discuss 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. At that point, CA staff will work through the new year to draft a budget for the Board’s consideration and approval.

We will update information throughout the FY24 process, so bookmark this page and check back for more information.