W.C. from New Haven County writes:
Dear Mister Condo,
Is there a way that the board can be checked on in reference to expenses when they are not being provided?
Mister Condo replies:
W.C., all invoices, bank statements, and such are records of the association. As such, they are subject to review by any member of the association who inquires. There may be a fee associated with inspecting these records and you may need to make an appointment to do so but the records must be made available to you. If you request to see these records and are denied, you have the right to sue to make the records available.
Typically, individual records are not provided to members as a matter of course. The Board is charged with keeping the expenses of the association in line with the Annual Budget, which was approved at the Annual Homeowners’ meeting. If the Board is spending more than that amount or you suspect dubious activity, you may wish to inspect he records. However, checking individual receipts may not show any impropriety. An audit of the books by an outside firm is your best bet to keep an eye on expenses and/or missing funds. If you do not suspect wrongdoing or missing funds, I might just tell you to trust the people you have elected to do their jobs and safeguard the association’s funds. All the best!
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Checks and Balances for Condo Board Expenses: https://t.co/ZwoCo34hMe