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Boards must carefully consider their options for complying with New York City's local laws, such as Local Law 97 and facade repairs, by exploring options such as refinancing, assessments, and capital reserve studies to ensure the best budgeting options.

Condominiums with commercial units often pay a significant source of income for the corporation, but boards need to ensure they are not being shortchanged by checking the declaration and bylaws to ensure commercial units are being charged properly. (Print: Condo Commercial Income: Are You Being Shortchanged?)

A property manager at First Management Corporation worked with a building that confronted a 400% increase in insurance premiums due to a major fire, but was able to find a carrier willing to cover the building for $510,000 and pass a ban on e-bikes to prevent future premium costs. (Print: How To Keep Insurance Costs in Check)

A board of a Lower East Side building successfully completed a $2 million capital project, despite unexpected cost overruns, by following the book and building a 20% buffer into the assessment and line of credit. (Print: When Cost Overruns Multiply)

The Imperial Sanford Building in Flushing, Queens, is working with HANAC to comply with Local Law 97 by replacing windows, conducting facade repairs, switching to No. 2 fuel oil, and taking advantage of incentive programs, which will save the building up to 70% on energy fuel usage and consumption. (Print: A Profile in Energy Courage)

Virtual annual meetings have become more popular due to their higher participation rates and ability to keep meetings on track, while hybrid meetings can be tricky due to the need for additional staff and costs. (Print: Virtual Meetings: Mastering the Hybrid)

Boards can finance building maintenance and compliance upgrades by using lines of credit, capital assessments, and tax abatements, while communicating the building's needs to shareholders or unit-owners. (Print: Finding Finances)

The condop in Manhattan's Chelsea neighborhood created a detailed capital plan to pay for extensive facade repairs, major infrastructure projects, and a 10% reserve requirement, while also communicating with shareholders and unit-owners to avoid surprises. (Print: Financing: Balancing Peter To Pay Paul)

Escrow accounts can help co-op and condo boards manage cash flow by setting aside funds for predictable expenses, while open communication between the board and management company is essential for effective financial management. (Print: Why Cash Flow Is King)

Donald Einsidler, the president of Einsidler Management, worked with two co-ops to refinance their balloon mortgages, increasing the amortization period from 30 to 40 years, and saving the co-ops money on principal and interest payments. (Print: Mortgage Refinancing: Even With Penalties, It Sometimes Makes Sense)