(IL) Posting Financials on PM's Website

At our June meeting, BOD approved April financials and meeting minutes and both were posted on website. This is the first year we have begun doing this and I was just told that May financials, per legal, may be posted on website without Board approval. I was under the impression that it is the Board's decision how/when/where this information is communicated. Does Legal overridge BOD decisions? Thanks. -Renee

Renee,

The key word here is "may". This word provides an option to post it vs. a requirement to post it. In my organization, we only post approved minutes of the Board. Since the financials are part of the minutes package (Treasurer's report), they will be posted when the entire minutes are posted. However, we do post draft minutes of general membership meetings. Mainly because its only once a year and it forces the Secretary to write them while the issues are still fresh.

I should note that our minutes are in a members only area and require a password to access.

As for legalities, All boards must comply with Federal and State laws. However, it has been my experience that many of the laws associated with records are that they must be made available upon request of the member. Therefore, as long as the Board makes them available when requested, they are complying with the law. Typically, posting them on the website for members to review without asking is usually going above the requirements in the law. Of course, you will need to read your own HOA/Condo and/or Corporation laws to see if this is true for IL.

Tim

Hi Steve,

I'm not sure if that comment was about our Associations practice or for someone else.

We're not trying to hide anything. We rely on 1 volunteer to post the items and it's just easier for the entire package to be posted vs. part of a package and then deleting, making changes to the web page and posting the complete package.

The Volunteer is already spending 2 hrs a day checking the site for forum spam along with tracking and banning IP's associated with the posting of forum and referral spam. Additionally, Website statistics show that 97% of the visitors are Spammers, 1% potential buyers, .5% non-board members and 1% board members (who already have the info) and .5% of using links to locate schools/parks in the area.

Even though the website isn't really utilized by the membership, I still believe that it is a valuable tool. Others might say if the membership isn't using it, it's not worth the time, energy or expense. Then our only obligation would be to provide info to those who specifically ask for it and as a report at the annual meeting.

Boards can only make the information available. They can't make the member read the information provided.

Tim

You might want to be VERY careful about posting financials that would expose any delinquent owners. There are privacy laws in the state of AZ that will not permit that.

Both meeting minutes and financials are posted on PM's website; password is required.
My apology for not being specific...the BOD meets every other month where we approve the previous BOD Meeting Minutes that also include financial reports as well. It is the "off month" financial reports I am questioning. I was told, per legal, that they can be posted at anytime on PM website. How can the PM post those reports if the BOD has not accepted them in the first place?

I dont know Arizona laws, but another way to avoid legal privacy concerns about unpaid dues would be to record a lien, even for $100 of unpaid dues with the state. This would make it public info and available to everyone. Then post the list of liens on your HOA web site with a link to the state/county web site with the image of the lien.