Ask SAM: HOA won’t release financial information (NC)

Q: I live in a large townhome community in Winston-Salem. Until recently, we have received quarterly financials indicating how our money was spent. Since a majority of new board members and a new property management group have come on board we no longer get this info. When I asked why at a monthly meeting, I was told they don’t have to provide this info to homeowners. Why? It is our money and we need to know how it is spent.    Read the Q&A……………