Finances
The “Finances” category contains articles and court case decisions that involve issues relating to a homeowners association’s finances.

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HOA Directors Must Conduct Periodic Reviews of Finances and Annual Financial Audits or Reviews

- Finances
HOA directors have a duty to periodically conduct HOA finance reviews and also do detailed financial audits of the association’s
Is Your HOA Meeting Its Responsibilities Concerning Financial Statements?

- Finances
State laws and the governing documents for homeowners associations impose requirements for the preparation and distribution of financial statements for
- Finances
It is common practice for the board of directors for a homeowners association to designate one or more individuals to…
Understanding the Board’s Role in Connection with Association Reserve Studies

- Finances
State laws and the governing documents for a homeowners association typically contain provisions that mandate the establishment and maintenance of
Don’t Overlook the Need and Importance of HOA Financial Audits, Reviews, or Compilations

- Finances
State laws and/or an association’s governing documents typically contain provisions that require a homeowners association to have periodic financial audits,
- Finances
The directors of a homeowners association are vested with the responsibility of properly managing the business operations and the common
HOAs Must Have Controls and Follow Proper Procedures For The Use of Reserve Funds

- Finances
A prudent board of directors should have a dual signature requirement for withdrawal of funds over a specified minimum dollar
HOAs Should Proactively Implement Measures to Protect Against Insider Fraud

- Finances
Internal frauds committed by officers, directors, managers, and other employees in a position of trust are common threats that homeowners
Michigan Ct. Says HOA Assessment to Fund Construction Defect Litigation was Invalid

- Case Decisions, Construction Defects, Finances
UNPUBLISHED Michigan Appellate decision (March 24 2015) This case involved a dispute between a homeowners association (“Association”) and husband and