no volunters

Started by MichaelJ8 • 11 replies • 1357 views

💬 Join us to post & get advice from 50,000 HOA & Condo leaders.

⚡ Takes 30 seconds

Already a member? Log in

MichaelJ8 (Illinois)
Posts: 113

Posted:

What do you do if NO ONE and I mean NO ONE steps up and volunters do be a treasure. I have done it for over 3 years and am tired of it. I do not see how I can sell my place if there is no treasure. Forget what the cc's state or the state says they just look at you and go there way. 99% of the condo owners are over 65, as I am, and they want nothing to do with the position. HELP

DavidW5 (North Carolina)
Posts: 565

Posted:

Being the treasurer does not mean that you have to do all the work. I suggest you have the board consider a proposal to increase the dues to allow the hiring of a bookkeeper/accountant to "assist" you in carrying out the treasurer's duties. Perhaps just the threat of a dues increase will get someone else to step up.

JonD1
Posts: 2,350

Posted:

I don't understand why the lack of a Treasurer would prevent you from selling.

Do you have an MC?

If so what role do theynhave in handling the property's finances?

If you are planning to sell your property do so and then the lack of volunteers will no longer be YOUR problem.

Sad to say not all that uncommon of a story.

Somebody else do it......................

BrianB (California)
Posts: 2,820

Posted:

it is usual that the board votes or appoints a treasurer, so turn in your resignation to the board, and let them worry about it. One of the other board members must become the treasurer.

MichaelJ8 (Illinois)
Posts: 113

Posted:

I like the idea of hiring an accountant. Can someone tell me if they have an accountant what all does he do. (Collect the dues, make reports, year end taxes, pays the bills, etc. You would still need a treaure to ok the bills, right. Anything else?

MelissaP1 (Alabama)
Posts: 13,836

Posted:

In our situation one of our members owned an accounting firm. That meant we just automatically had that person in the Treasurer's position. However, in other cases the Treasurer can just be a "figurehead" position. They may work as a laison with presenting the information of the bookkeeping service to the meetings or in similar capacity of whatever the board decides the responsibilities should be. I wouldn't have them managing the funds as much as just making sure the bookkeeping reports are produced and presented to the meetings.

Your HOA and the bookkeeping service can work together to define responsibilities or duties. We had a two signature system set up with ours. That meant they wrote out the checks per board request and signed them. We had 2 board members (Usually Officer positions) on the signature card at the bank that also signed the checks. This provided a checks and balances system. This also could be an area the Treasurer could do. They could be the required signature with the President or any combo that works. Keep in mind these checks are a little higher in costs as they are specialized. However, they are well worth the money.

Apathy is the Number 1 issue in a HOA. Just try to make sure there is always a "Bigger fish". Someone will step up if the responsibilities change. The President can even act as Treasurer (but NOT as Secretary) for the interim until things are put into place.

Former HOA President

MichaelJ8 (Illinois)
Posts: 113

Posted:

"Apathy is the Number 1 issue in a HOA." You want to see apathy, visit us. That is why i feel it is time to leave. As treasure I just did not want to leave them hanging out to dry, so to speak when i try to sell. I am not sure whether loan companies would loan mortgages if we had no treasure. Appointing someone to a position and then having them do it looks like a problem to me.

MelissaP1 (Alabama)
Posts: 13,836

Posted:

Why would a mortgage company not loan money out because there is no Treasurer? They could care less about those details. They are more concerned about the financial situation of the HOA and number of rental units. Mortgage companies don't have to obey the rules of the HOA or inform their clients of it. So thinking that your HOA doesn't have a whole board has no relevance on if you can sell or not. There's a whole different ball game related to that.

Former HOA President

TimB4 (Tennessee)
Posts: 21,062

Posted:

The position of Treasurer is that of an Officer and is different from being a Director and they have different duties.

Typically, Officers are appointed from amongst the Directors but unless your governing documents specify that this occurs (some might only specify one or two offices must be filled by directors, then the Board may appoint whom they wish.

Most governing documents prohibit directors from being paid. However, there is usually nothing preventing the Board from paying Officers for the performance of their duties.

Expecting that your governing documents have the same language you board could consider:

Making the Office of Treasurer a paid position and still appoint a treasurer from amongst the Directors, hire an employee or higher an independent contractor to perform those duties and be appointed as Treasurer.

Another option would be to hire an independent contractor as bookkeeper to get the mail, track assessment payments and make deposits. This would only require the treasurer to pay bills, track deposits & expenses, and make reports. (this is what our Association does).

Hope this helps,

Tim

MichaelJ8 (Illinois)
Posts: 113

Posted:

thanks for setting me straight on the mortgage compmanies. I just assumed that with no proper board they would not loan. My error.

JM10 (California)
Posts: 503

Posted:

We've had a figurehead treasurer under and management company. So the person who was treasurer was a director, but that isn't necessary (he can just be an officer). The collections, taxes, etc. was all done by the management company.

Now we have a board member who is a treasurer and buys things before there's been any meeting on it or attempts to overcharge people for "damage" (lost that court case so the gain was really a HOA loss).

Have a management company/accounting firm do the deed. Less time and you don't have to worry to much.

Still every member should want to hear the treasurer's report every month to make sure there are any mistakes, accidental or intentional.

MichaelJ8 (Illinois)
Posts: 113

Posted:

JM10,
Who ok's the bills and who writes the checks? In my association they want someone to do it all, as long as it is not themselves.

🎯 You've read this entire discussion

Join the conversation with 50,000 HOA & Condo Leaders:

✓ Ask follow-up questions
✓ Share your experience
✓ Get expert advice
✓ Access 350,000 discussions

Create Free Account →

⚡ Takes 30 seconds

Already a member? Log in here