All in one pile

I have asked out HOA treasurer to provide a Balance Sheet at the annual meeting coming up in April. She has always provided a P/L for the year and that's it. This has been going on for at least 5 years.

The E-O-Y balance of the checking account is shown at less than $1,000, with all end of year "surplus" moved into what is called the "Reserve fund" (as required by our bylaws)

This Reserve Fund is up to over $500,000 now, but no where does it say where these funds are kept. I happen to know some are in interest bearing accounts at various banks. Should not they be revealed so we can see exactly where this $$ is kept? (It could be under someone's mattress, for all we know.)

Also - a group of women do various fundraisers in order to remodel the community center's kitchen. The goal is $10,000. At last count, they claim they have $3,000 of it. But no where can it be seen on any financial report given by the treasurer. I asked and she said, "It's in the Reserves." Again, should this not be on the Balance Sheet, showing up as a separate fund?

I think the fundraised money should be kept in a seperate account and should be able to be accounted for. What documentation do they have on the amount of money raised, how and when it was raised, etc.?

Yes, I also think the banks or institutions where your money is kept should be public information. They don't need to give you bank account numbers but should have a breakdown of what is where.

And yes I do agree that if you ask for a balance sheet you should get a balance sheet...

I would continue to poke at this bubble as whatever is inside you want it flushed out. Could be totally innocent but lack of transparancy leads to issues.