As the year comes to an end, take a few minutes and assess the health of your association. Use the flowchart below to help you get off to a good start at the new year. Some things to Consider:

Insurance

Oregon law requires the board to review its insurance policies and coverage annually. ORS 100.417(3) & ORS 94.640(3).

Reserves

ORS 100.175(3)(a) & ORS 94.595(3)(a) require that: "The board of directors of the association annually shall conduct a reserve study or review and update an existing study to determine the reserve account requirements."

Finances

ORS 100.417(4) & ORS 94.640(4) require an association to file annual tax returns if necessary.