DorrinndaF (Michigan)
Posts: 17
Posts: 17
Posted:
In April I contacted my HOA with a request for a copy of the current Ledger. My request was declined because I did not "provide a reasonable purpose for needing this document"
Could anyone shed any light what a reasonable purpose would be apart from to protect my economic interests as it relates to my interest as a member. By reviewing the financial information I want to
assure myself that the trustees have not breached their fiduciary duties by otherwise acting in bad faith.
A little bit of history - the board requests that boat stickers are purchased for $5, last year I purchased 2 of these boat stickers and at the year end Ledger there was no entry in the ledger regarding this purchase - I was told that they use this money for "petty cash" yet there is no record of a petty cash fund in any of our financials.
Our bylaws state that any purchases made over $200 not approved in the annual budget has to be approved by the general membership in special meeting - The board made a purchase of "play equipment" totaling $2000 without informing the members. When questioned they stated that the board voted on this expenditure however there is no mention of this vote taking place in any minutes recorded.
Any advice would be appreciated.
Could anyone shed any light what a reasonable purpose would be apart from to protect my economic interests as it relates to my interest as a member. By reviewing the financial information I want to
assure myself that the trustees have not breached their fiduciary duties by otherwise acting in bad faith.
A little bit of history - the board requests that boat stickers are purchased for $5, last year I purchased 2 of these boat stickers and at the year end Ledger there was no entry in the ledger regarding this purchase - I was told that they use this money for "petty cash" yet there is no record of a petty cash fund in any of our financials.
Our bylaws state that any purchases made over $200 not approved in the annual budget has to be approved by the general membership in special meeting - The board made a purchase of "play equipment" totaling $2000 without informing the members. When questioned they stated that the board voted on this expenditure however there is no mention of this vote taking place in any minutes recorded.
Any advice would be appreciated.