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Maine Alliance for Road Associations

fiscal year and calendar year

  • 18 Apr 2018 10:53 AM
    Message # 6109067
    Deleted user

    Does anyone have any advice as to using fiscal vs calendar year for the tax year?

  • 19 Apr 2018 5:52 AM
    Reply # 6110330 on 6109067
    Deleted user

    Our road association bases dues on the City's valuation and their tax bill comes out in September. I tried using that as the beginning of the fiscal year but it was just to darn confusing to me. Trying to track what happened in 2007-2008 versus 2008-2009, for example. So I requested that our by-laws state that our fiscal year is the calendar year. It makes my life and work as the secretary/treasurer so much easier. Our annual meeting notice goes out in June with the meeting held in July, our notices for dues goes out in September and are due by December 31. All in the same fiscal/calendar year.

  • 04 Jun 2018 2:49 PM
    Reply # 6284968 on 6109067
    Deleted user

    Our fiscal year starts in September for a couple reasons. We have a lot of summer only residents and so hold the Annual Meeting either in July or August to make it easier for more members to attend. Although it is a bit confusing, splitting years, it also makes it easier to break up the maintenance seasons for tracking budgeting and actual expenses. We budget for an entire winter season, spring grading and at times, fall grading. Not much happens in the summer. Hope this helps.

                            The Maine Alliance for Road Associations


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