A.H. from Pennsylvania writes: Dear Mister Condo, I belong to a Condominium complex in Pennsylvania (approx. 426 units) and according to the By-Laws we are to receive copies of the audited financial statements – which are useless because the auditor cites in the report that the Board basically has decided to release selective information in…
Tag: Audit
How Much Auditing of the Condo’s Finances is Required?
G.S. from Fairfield County writes: Dear Mister Condo, Our Condo Declaration states that the Association’s annual financial statement shall be audited by an independent certified public accountant. Our board claims it has the discretion to choose the “level” of audit, and that an accountant’s review of the financial statement is adequate to meet our Declaration’s…
High Overhead Costs for this Condo Roof Project!
S.C. from New Haven County, Connecticut writes: Dear Mister Condo, The association never put money aside for roofs. They couldn’t get a loan so they had a meeting and decided at that meeting to raise our common fees $100 per month. They said they sent a letter so you could vote but I didn’t get…