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New first time treasurer

Started by CynthiaT4 • 8 replies • 441 views

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CynthiaT4 (California)
Posts: 1
Posted:
I have a new first time treasurer serving the board. She wants to see the last two years financial records. I have no idea why. She said she is doing this for herself and to the residents to be more transparent on the accounting. Can she request all prior financials prior to her term?
KerryL1 (California)
Posts: 14,550
Posted:
Are you on the Board, Cynthia? Or are you some sort of property manager? The wording " I Have" is confusing to me.

In CA (and many states) any owner can inspect their Assn. records by requesting them in writing. The records that may be inspected, let's say financial records, may go back two years plus the current year. It's a very good thing your new treasurer wants to review them. Why does it seem like a problem?

For details, visit Davis-Stirling.com, Mian Menu, Records or Records Inspection for CA.
JohnT38 (South Carolina)
Posts: 1,631
Posted:
Quote:
Posted By CynthiaT4 on 03/02/2021 2:24 PM
I have a new first time treasurer serving the board. She wants to see the last two years financial records. I have no idea why. She said she is doing this for herself and to the residents to be more transparent on the accounting. Can she request all prior financials prior to her term?

I would certainly hope so. There are lots of good reasons to do this.
JohnC46 (South Carolina)
Posts: 14,265
Posted:
Quote:
Posted By JohnT38 on 03/02/2021 2:50 PM
Posted By CynthiaT4 on 03/02/2021 2:24 PM
I have a new first time treasurer serving the board. She wants to see the last two years financial records. I have no idea why. She said she is doing this for herself and to the residents to be more transparent on the accounting. Can she request all prior financials prior to her term?


I would certainly hope so. There are lots of good reasons to do this.

I agree. Denying her such is hiding as far as I am concerned.
TimB4 (Tennessee)
Posts: 21,059
Posted:
Quote:
Posted By CynthiaT4 on 03/02/2021 2:24 PM

She wants to see the last two years financial records. . . . Can she request all prior financials prior to her term?

YES.

This is allowed by Statute and, likely, by your governing documents.

They should not see any assessment ledger other then their own lot - this is for privacy concerns.

However, all other financials would be open.

NOTE: You don't have to provide copies.
You simply have to give time for them to review the records.

Since you are in CA, see: RECORDS INSPECTION MENU from davis-stirling site
SheilaJ1 (South Carolina)
Posts: 291
Posted:
Quote:
Posted By TimB4 on 03/02/2021 4:10 PM
Posted By CynthiaT4 on 03/02/2021 2:24 PM

She wants to see the last two years financial records. . . . Can she request all prior financials prior to her term?


YES.

This is allowed by Statute and, likely, by your governing documents.

They should not see any assessment ledger other then their own lot - this is for privacy concerns.

However, all other financials would be open.

NOTE: You don't have to provide copies.
You simply have to give time for them to review the records.

Since you are in CA, see: RECORDS INSPECTION MENU from davis-stirling site

Why can’t she see the assembly ledger? Sounds like your pro HOA bs again.

She is a director and an officer she can pretty much see anything.
SheilaJ1 (South Carolina)
Posts: 291
Posted:
Assessment* ledger
TimB4 (Tennessee)
Posts: 21,059
Posted:
Quote:
Posted By SheilaJ1 on 03/02/2021 4:24 PM
Assessment* ledger

I went back and reread the initial posting. I misunderstood what it said.
It appears that the individual requesting the records is the Treasurer.

There is zero reason why the Treasurer shouldn't have access to all financial records of the Association for the past x years (x = number of years records are retained based on Association policy)

In my original posting, I had thought the poster was the new treasurer and someone else was requesting access to the records. IF that were the case, my advice was simply advising what the law says:

HOA RECORDS NOT SUBJECT TO INSPECTION

Civil Code §5215. Redacting Information.

Shelia, I thank you for having me reread the initial posting in order to clear up my misunderstanding.
SheilaJ1 (South Carolina)
Posts: 291
Posted:
Thank you Tim

The only thing that could probably be withheld is attorney discussions that involved this particular director.

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