Which process relates to the ongoing financial assessment of a condominium's budget?

The process that relates to the ongoing financial assessment of a condominium's budget is monthly financial statements. These statements provide a detailed review of the condominium's financial position, outlining income, expenses, and variations from the budget. By reviewing these monthly statements, condominium managers and boards can track how well the condominium is adhering to its budget, identify any financial issues early, and make informed decisions about future financial planning. This ongoing assessment is crucial for maintaining the financial health of the condominium, ensuring that it can meet its obligations and plan for future expenses.

Other aspects, such as repair responsibilities, external contractors, and operational quality, while important in their own right, do not directly relate to the ongoing financial assessment of the condominium's budget. They may influence financial decisions or require funding, but the monthly financial statements are specifically designed for evaluating the budgetary performance on a regular basis.