There is perhaps no task more important than protecting the financial health of your HOA or condo association. Every board member has a fiduciary responsibility to always do what’s in the best interest of the community. Failure to create, maintain, and communicate financial processes and reporting can result in long-lasting damage to property values and your HOA or condo association’s reputation. More often than not, disputes, controversies, and negative impacts are caused by poor financial management rather than deliberate deception and fraud. Identifying and combating fraud is another topic altogether. If you’re a board member tasked with financial responsibilities it can be tough. Even small HOA and condo buildings have complex financial processes and reporting requirements. Add to this the volunteer nature of board membership, and financial missteps — intentional or not — are not hard to imagine.Reach out to us today. Let’s talk.

Tags: community association volunteering, community management role, HOA Finance, Condo Association Management, HOA Administration

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