What must an annual budget mailing generally include?

The correct answer highlights the importance of transparency within community associations regarding potential conflicts of interest. An annual budget mailing typically includes disclosures about items received by board members, which need to be valued at $15 or more. This requirement exists to ensure that residents are aware of any gifts or benefits that board members might receive, which could influence their decision-making.

Such disclosures foster trust and accountability, as they allow community members to have insight into the financial dealings surrounding their association's governance. This practice helps in mitigating any concerns about conflicts of interest and reinforces ethical standards within the management process.

While budget estimates for future years, projected increases in assessment fees, and summaries of decision-making procedures can all be significant components of a community's financial communication, they are not universally mandated for inclusion in the annual budget mailing in the same way that disclosures about board member gifts are.