Understanding the Basics of Board Financial Reporting

As a property manager or community association board member, sometimes it’s tough to remember that associations are businesses. Some of them are pretty large, with hundreds of thousands of dollars in dues collected and expenses paid each year. That requires regular, proactive monitoring to ensure that issues, like mistakes or variances, are quickly identified and addressed. In rarer situations, this oversight can uncover theft or fraud.    Read the entire article……………………………….

Editor

Recent Posts

2 found dead after firefighters battle Goose Creek condo fire (SC)

Two people were found dead after an early morning fire on Pine Shadow Drive.   The…

7 mins ago

Condo Records and the New Checklist Law (FL)

Suppose you ask for access to certain condominium records, they are never given to you,…

32 mins ago

Making Your Property Accessible

In both condos and apartments, owners and homeowner associations are responsible for making their properties…

3 hours ago

Australia: Lithium-Ion Battery Safety in Strata-Titled Properties

Lithium-ion batteries are ubiquitous in modern life, powering everything from smartphones and laptops to electric…

4 hours ago

Buying a Home in an HOA? Why Reviewing CC&Rs Matters

Thinking about purchasing a condominium, townhome, or other residence within a homeowners association (HOA)? Be…

4 hours ago

Age-old fencing for residents’ dogs runs afoul of new homeowners association president

Question: Our homeowner’s association states in its declaration that “all fences, other than those installed…

4 hours ago