Budget

General principles

In this section you can:

• Create a new budget
• Edit a draft budget
• Apply a draft budget
• View your old budgets

Each budget includes a revenue part and an expenditure part

Budget Contributions correspond to all fees paid by the co-owners. They include the amounts required to pay current annual condo fees as well as those paid into various funds such as the contingency fund or the self-insurance fund.

Unlike annual contributions, exceptional contributions are temporary and must start or end on a specific date.

The application will calculate the contribution of each unit, parking and/or locker depending on their respective share.

The units will then be automatically billed on the 1st of each month.

Expenses are budgeted account by account.

Budget creation process

To create a new budget, click on Create new budget.

You must define budget contributions and expenses (see below).

Once completed, click Save to save your budget project. You can then rework your project later.

Draft Status

As long as it remains in draft status, your budget is not applied and does not affect unit billing. You can continue to modify it until you’re ready to apply it.

Once your budget is approved, you can apply it by clicking on Apply budget. Then set the application date of this budget and click Apply Budget again.

AppNFlat will calculate the new contributions for each unit, parking lot and /or locker and will apply them on the first day of the following month.

Retroactive Application

If your budget is applied retroactively, AppNFlat will calculate the retroactive share of each contributor and invoice it on the day your budget is applied.

Creating a forecast budget

Budget contributions

To add a new contribution, click on Add a contribution.

Settings

Name	Contribution Name
Amount	Total annual amount of the contribution
Account	Accounting category where the contribution will be deposited (for example: Contingency fund, Condo fee).
Contribution type	Spread over twelve months: The contribution will be divided equally over 12 months and billed each month. Temporary contribution: The contribution will be applied only during a specific period. When you choose this option, you must define: Start date: First day when the contribution will be billed End date: Last day when the contribution will be billed The monthly amount will be calculated by dividing the total amount by the number of months between the start date and end date.
Applies to	Each contribution can have different contributors. For example, you can set up a specific contribution for parking owners or 3rd floor units. You can select contributors one by one or by group: All units, All parking lots, All lockers Each contributor's share is calculated using the following formula: Contribution = (Contributor's share × total contribution) / (sum of all contributors' shares)

Expenses

You can specify the budgeted expenses category by category.

To add a new category, click New Account.

You can add a note for each expense to provide details or justification. These notes are visible when you view the budget.

Modifying a provisional budget

In order to rework your draft budget, select Draft budget in the Budget drop-down menu.

An alert will confirm that the budget is provisional and has not yet been applied.

Click Edit at the top of the page to modify your provisional budget.

Modifying the budget follows the same principles as creating it (see previous section)

Once your changes are complete, click Save. You can rework your budget until it is applied.

Apply a draft budget

To apply a draft budget, click Apply budget.

Specify the application date of this budget.

Click Apply budget again.

Once applied, the budget cannot be modified.

AppNFlat will calculate the new contributions for each unit, parking lot and/or locker according to the formula:
Contributor’s share = (Contributor’s share * total contribution) / (sum of all contributors’ shares)

The new contributions will be applied on the first day of the following month.

If your budget has a retroactive component, AppNFlat will calculate the retroactive share for each contributor and invoice it on the first day of the following month.

View previous budgets

To view a previous budget, select the budget in question in the Budget drop-down menu.

An alert will confirm that this budget has been applied.

You will not be able to modify it.

Budget preview

Preview Before Applying

Before or during budget application, you can preview the impact on each unit to verify all calculations are correct. This is especially helpful to check retroactive adjustments before finalizing the budget application.

How to access the preview:

• During application: When you click Apply budget, a preview automatically displays at the bottom of the window before confirming the application.
• As a preview: Click Preview budget, select the desired application date, then view the preview.

Information displayed:

The preview details, for each unit:

• New monthly fees: Broken down by month for the 12 months of budget application, including:
  • Unit fees
  • Parking fees (if applicable)
  • Locker fees (if applicable)
• Old monthly fees: Amount billed according to the previous budget
• Budget adjustment: If the budget is applied retroactively, an adjustment will be calculated:
  • A credit will be applied if the new fees are lower than the old fees
  • An invoice will be issued if the new fees are higher than the old fees

This preview allows you to verify the amounts before finalizing the budget application.

Send email to co-owners

You can inform co-owners of the new monthly fees resulting from the budget.

Sending from preview:

• Click Preview budget
• Select the application date
• Click Send email to co-owners

An email will be sent to all owners

Sending during application:

When applying the budget, check the option Send email notification to all co-owners

Co-owners will automatically receive an email after the budget is applied

Email content:

Each co-owner will receive a personalized email containing:

• A table detailing their new monthly fees for the 12 months of budget application
• The amount of the budget adjustment (credit or invoice) if the budget is applied retroactively
• The budget application date

Co-owners will receive the email in the language they have chosen in their account.

You can customize the email sent to co-owners in the section Communication / Automated Emails / Budget Notification.

Cancel budget application

If you have applied a budget by mistake or wish to modify it, you can cancel its application.

How to cancel:

• Select the applied budget in the Budget drop-down menu
• Click the red Unapply budget button at the top of the page
• Confirm your action in the confirmation window

Consequences of cancellation:

Corrective transactions created when the budget was applied will be deleted

Unit monthly fees will be recalculated according to the previous budget

The budget will revert to a draft budget that you can modify

A new entry will be added to the building operations log

Warning

Canceling a budget deletes all corrective transactions that were created when it was applied. Make sure no payments have been made in connection with these transactions before canceling the budget.