The Board of Directors adopts the budget approximately 45 days before the close of the fiscal year. (Barnside’s fiscal year is January 1 – December 31.) Prior to adoption, a proposed budget summary is mailed to all owners. An open hearing is held to allow owners to comment and make suggestions on the proposed budget. During the year, the Treasurer reviews the monthly financial statements monitoring the budget. Residents and Board members can make suggestions for future budgets. Those requests are gathered and, if possible, made a part of the next year’s budget.