JanineR (Tennessee)
Posts: 259
Posts: 259
Posted:
Is it unusual that our members have not received a monthly financial statement since October?
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Timing of Financials
Started by JanineR • 11 replies • 473 views
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KellyM3 (North Carolina)
Posts: 2,239
Posts: 2,239
Posted:
No, it's not unusual.
Ask for the monthly financial statement as the property manager likely has made one since October.
Ask for the monthly financial statement as the property manager likely has made one since October.
SheliaH (Indiana)
Posts: 6,964
Posts: 6,964
Posted:
And if you don't get it, contact your board and demand answers - at the very least you should have an annual income/expense statement available by now.
If it is not right do not do it; if it is not true do not say it. Marcus Aurelius
JanineR (Tennessee)
Posts: 259
Posts: 259
Posted:
I have done both of the above.
So have other members....
So have other members....
JohnC46 (South Carolina)
Posts: 14,265
Posts: 14,265
Posted:
Janine
How were you getting the monthly reports? Paper or electronically?
How were you getting the monthly reports? Paper or electronically?
JanineR (Tennessee)
Posts: 259
Posts: 259
Posted:
Electronically on a web portal
SheliaH (Indiana)
Posts: 6,964
Posts: 6,964
Posted:
If the web portal is still around, ask the board when the information will be posted or if it can be emailed. You say some of your neighbors are also asking questions, so my original advice still stands - get together and speak up.
If it is not right do not do it; if it is not true do not say it. Marcus Aurelius
JanineR (Tennessee)
Posts: 259
Posts: 259
Posted:
The property management company says the Board is too busy.
SheliaH (Indiana)
Posts: 6,964
Posts: 6,964
Posted:
And you didn't go to the board yourself and ask THEM because....?
you say other neighbors are concerned, so draft a letter, all of you sign it and send copies to the entire board, not the property manager. Specify a date when you expect a response. If you don't get it, your group can chip in for an attorney to write a letter on your behalf, but then you'll have to decide what happens if that doesnt work.
You may need to call for a special homeowners meeting to see if this group should remain on the board. Check your documents first to see how this is to be done a d look for people willing to step up if it comes to that. One of them may have to be you.
you say other neighbors are concerned, so draft a letter, all of you sign it and send copies to the entire board, not the property manager. Specify a date when you expect a response. If you don't get it, your group can chip in for an attorney to write a letter on your behalf, but then you'll have to decide what happens if that doesnt work.
You may need to call for a special homeowners meeting to see if this group should remain on the board. Check your documents first to see how this is to be done a d look for people willing to step up if it comes to that. One of them may have to be you.
If it is not right do not do it; if it is not true do not say it. Marcus Aurelius
JanineR (Tennessee)
Posts: 259
Posts: 259
Posted:
Thanks Sheila
We asked the Board directly and got no response.
We have been forming a group to call for a special meeting, which is causing a divide in our community.
The financials stopped getting distributed to members after some of us questioned where the money is going.
We asked the Board directly and got no response.
We have been forming a group to call for a special meeting, which is causing a divide in our community.
The financials stopped getting distributed to members after some of us questioned where the money is going.
JanineR (Tennessee)
Posts: 259
Posts: 259
Posted:
It looks like our persistence paid off.
The November and December financials were uploaded to the portal.
The November and December financials were uploaded to the portal.
SheliaH (Indiana)
Posts: 6,964
Posts: 6,964
Posted:
Very good! But don't stop keeping this board in check.
This started because people asked about spending, and the board got a notion not to provide the financials. That IS NOT the way things work. Everyone contributes to maintaining the property, so the board should be eager to say where the money is going and why. If they pull this stunt again, see my suggestion about taking further action. Good luck!
This started because people asked about spending, and the board got a notion not to provide the financials. That IS NOT the way things work. Everyone contributes to maintaining the property, so the board should be eager to say where the money is going and why. If they pull this stunt again, see my suggestion about taking further action. Good luck!
If it is not right do not do it; if it is not true do not say it. Marcus Aurelius
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