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Does Your HOA’s Budget Include a Line Item for “Bad Debt?” ….. It Should Read More »
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Should Your Condominium or Homeowners Association Borrow Money? Read More »
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Accounting Assistant Steals $148,000 from HOA by Setting Up Company with a Similar Name Read More »
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Ct. Rules HOA Failure to Maintain Does Not Justify Homeowner’s Nonpayment of Dues Read More »
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Understanding the Basics of a Reserve Analysis for Your HOA Read More »
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Class-Action Lawsuits are Being Filed Against HOAs for Charging Excessive Fees Read More »
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Is Your HOA Meeting Its Responsibilities Concerning Financial Statements? Read More »
It is common practice for the board of directors for a homeowners association to designate one or more individuals to be the “authorized” signers on HOA bank accounts. Some boards adopt resolutions that authorize all of the current board members to sign on the association’s accounts in an effort to make sure there is always someone available to sign necessary checks. Some may even authorize property managers or other personnel who are not directors of the association to sign on the accounts. Other associations are more restrictive and elect to authorize some, but not all directors to sign on the HOA bank accounts in order to maintain stricter control over the association’s funds.
Authorized Signers on HOA Bank Accounts Read More »
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Understanding the Board’s Role in Connection with Association Reserve Studies Read More »
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