posting bank ledger on HOA website in real time for transparency?

JackS20 (North Carolina)
Posts: 271

Posted:

any concerns about posting bank ledger on our website in real time for increased transparency? password protected. self managed hoa. 2 out of 5 board members are against it. they say financials are board's concern not residents. Costs $80 per year for this service.

SheliaH (Indiana)
Posts: 6,964

Posted:

Uh, finances ARE a homeowner concern. All of you are business partners in a sense because all homeowners co-own the common areas and are legally obligated to pay assessments to care for them and comply by communuty rules.

That said, posting the bank can wait until after the account has been reconciled, which you should be doing when the statements arrive, along with balance sheets and board meeting minutes (minutes must be approved at the next board meeting to be official.)

That should be enough transparency assuming the documents are complete and accurate. If not, it may be time for you and your neighbors to consider if a change in the board makeup is necessary. Start with attending some meeting so you can hear for yourself what's going on.

If it is not right do not do it; if it is not true do not say it. Marcus Aurelius

TimB4 (Tennessee)
Posts: 21,059

Posted:

Our HOA provides a budget update at each board meeting.

A budget update being, Budgeted amount, amount spent/collected to date, remaining available funds/expected income
This is done on a spread sheet so each line item is seen.

This update is part of the Treasurers report and attached to the minutes.
The minutes, with all attachments, are on the Associations website (members only area).

JackS20 (North Carolina)
Posts: 271

Posted:

our HOA has a very poor history of being transparent and most people don't care because dues have never been that much, currently $90/year, but used to be double that. for over 20 years all we got was a yearly budget, never a document that showed what was actually spent. No board minutes, no announcements of when board meetings will be so no one could ever attend. When I became president that all changed, but 2 old school board members want everything to go back to the way it was. The CCR's have been changed, but lets face it, one would have to sue them to results and most will not do that.

So before my term is up I'd like to pass this financial transparency amendment as well as an amendment to make it easier to sue the board for failure to do thier basic duties like hold annual elections, disclose financials, etc. the amendment says the HOA agrees for smalls claims court as the venue and gives damages up to $1500 against the HOA for failure to carry out board duties.

DeanJ
Posts: 1,786

Posted:

Quote:

Posted By JackS20 on 08/23/2025 11:10 PM
any concerns about posting bank ledger on our website in real time for increased transparency? password protected. self managed hoa. 2 out of 5 board members are against it. they say financials are board's concern not residents. Costs $80 per year for this service.

Sounds like your issues are mistrust and micromanagement, not transparency.

How many time a day, week or month does a board member desire or need to check the bank ledger in real time? How many times would a non-board member owner need or want to do this?

My HOA has this service free of charge for board members for the last 3 years. I do not recall a single instance where a board member said they used it. We meet monthly, review the financial statement, and post the information for the owners. Allowing password protected access to you ledger for the owners is nuts.

DeanJ
Posts: 1,786

Posted:

Quote:

Posted By JackS20 on 08/24/2025 6:37 AM
our HOA has a very poor history of being transparent and most people don't care because dues have never been that much, currently $90/year, but used to be double that. for over 20 years all we got was a yearly budget, never a document that showed what was actually spent. No board minutes, no announcements of when board meetings will be so no one could ever attend. When I became president that all changed, but 2 old school board members want everything to go back to the way it was. The CCR's have been changed, but lets face it, one would have to sue them to results and most will not do that.

So before my term is up I'd like to pass this financial transparency amendment as well as an amendment to make it easier to sue the board for failure to do thier basic duties like hold annual elections, disclose financials, etc. the amendment says the HOA agrees for smalls claims court as the venue and gives damages up to $1500 against the HOA for failure to carry out board duties.

Cool, we have a real pandemic as an owner I am getting $1,500.

TimB4 (Tennessee)
Posts: 21,059

Posted:

I agree with transparency.

I agree with putting minutes, budgets, etc. on an association website.

I agree with holding the Board accountable.

I disagree limiting actions to small claims court.
As a board member, you not only have a fiduciary responsibility to the membership, but a duty to act in good faith, with due care, and with loyalty to the association (i.e. the corporate entity).

To limit actions to small claims court and setting a financial penalty for such claims, you would be violating your duty to the Association.

Instead, I would consider serving additional terms until you can get other like minded people on the board to maintain the transparency you set up.

SheliaH (Indiana)
Posts: 6,964

Posted:

Seems like apathy is strong in your community, otherwise the board wouldn't have gotten away with simply providing an annual budget and nothing else for 20 years. Sorry it took that long before people saw the light. Or have they?

Homeowners elect the board, so if the board isnt providing the transparency, those people need to be voted out or recalled. A bit more drama may ensue, but faster than a lawsuit. Your bylaws generally dictate how the association is run, so there should already be language addressing elections, duties of the board, etc., so it's a matter of the HOMEOWNERS doing their job and use their power to ensure the people they elect are managing the association correctly.

You didn't say how many board members you have, but if it's 5 or more, three can outvote these two who want to impede progress. Why not encourage as many of your neighbors to attend the next meeting and when this comes up, ask them point blank why they feel financials aren't the business of homeowners who pay the assessments. Let's see what they say in front of everyone.

If it is not right do not do it; if it is not true do not say it. Marcus Aurelius

JackS20 (North Carolina)
Posts: 271

Posted:

Quote:

Posted By TimB4 on 08/24/2025 11:31 AM

I disagree limiting actions to small claims court.
.......
To limit actions to small claims court and setting a financial penalty for such claims, you would be violating your duty to the Association.
.....
Instead, I would consider serving additional terms until you can get other like minded people on the board to maintain the transparency you set up.

it's not limited to small claims owners could still sue in Superior court which I've been told pretty much requires a lawyer and $3000 to start the party. Never did it myself.

I can't get anyone to serve on the board, most people are not interested. some interesting facts from our most recent ballot which had almost 100 votes. there are 5 board members :

One surprising result is they way HOA board members voted very differently vs the membership:

60% of board members think the hoa should be able to foreclose over any amount of past dues. meanwhile 90% of the membership wanted it limited to $1000 or more or one year before it starts.

80% of board members think they should set the budget and not need membership approval. Meanwhile 80% of membership think they should get a vote to approve the budget.

60% of board members think they should be able to veto members votes. Meanwhile 85% of owners think no vetoing should happen.

JackS20 (North Carolina)
Posts: 271

Posted:

Quote:

Posted By DeanJ on 08/24/2025 7:59 AM

Posted By JackS20 on 08/23/2025 11:10 PM
any concerns about posting bank ledger on our website in real time for increased transparency? password protected. self managed hoa. 2 out of 5 board members are against it. they say financials are board's concern not residents. Costs $80 per year for this service.

Sounds like your issues are mistrust and micromanagement, not transparency.

How many time a day, week or month does a board member desire or need to check the bank ledger in real time? How many times would a non-board member owner need or want to do this?

My HOA has this service free of charge for board members for the last 3 years. I do not recall a single instance where a board member said they used it. We meet monthly, review the financial statement, and post the information for the owners. Allowing password protected access to you ledger for the owners is nuts.

Well I saved the HOA $8000 in fees from the mgt company due to their incompetence so you might have a point that I mistrust others, but with a 20 years history it's no longer about mistrust it's a pattern of incompetence that has to change. do you actual have something constructive to ad? I would say I'd liek to check it a few times a year. and I'm probably the only one who would care, because everyone else doesnt' want to be bothered.

SheliaH (Indiana)
Posts: 6,964

Posted:

You said the HOA has a poor history of being transparent and “most people don’t care because dues have never been that much.” THAT’S the real problem – I’m sure the management company did have its issues because it’s easier to manipulate board members who don’t want to actually THINK about decisions that have to be made to run the association, and they especially don’t want the blame when things go to shit because they weren’t paying attention.

But your neighbors are just as guilty – they put up with this for 20 years and still don’t care if you’re correct that no one besides you cares about the bank ledgers. Has there been a demand to see the bank ledger on demand? If not and you’re taking steps to ensure they’re complete and accurate, save the $80 and use it for something else.

If you have concerns about the ledger, talk to whoever’s making those entries to make sure you understand the process and don’t be afraid of doing a periodic audit of all the association finances to ensure there’s no mismanagement, embezzlement or that stuff. Bring the association treasurer with you to make sure he or she also understands. The CAI website has several education resources on association finances – you may want to take a look and get a few books (maybe all of them will cost around $80) so you’ll have a better idea of how it’s supposed to work and what to listen out and look for if the numbers look funny.

If it is not right do not do it; if it is not true do not say it. Marcus Aurelius

DeanJ
Posts: 1,786

Posted:

Jack,

I would never be on a board of a self managed HOA.

The reason is simple, I am not volunteering my labor to lower your assessments. The management company provides services for the board and the owners. If the HOA is self managed, it means to board has to accept all the duties of the management company for free.

What about everyone misses about HOA living is people buy property and pay a fee to increase there leisure time and reduce the stress of home ownership.

When boards decide to self manage, the percentage of owners wiling to do this is declines.

If you want an HOA where people are willing to serve, every board should make it easier for the next members, not more difficult.

JackS20 (North Carolina)
Posts: 271

Posted:

Quote:

Posted By DeanJ on 08/26/2025 10:03 PM
Jack,
1.The management company provides services for the board and the owners.
2. If the HOA is self managed, it means to board has to accept all the duties of the management company for free.
3. What about everyone misses about HOA living is people buy property and pay a fee to increase there leisure time and reduce the stress of home ownership.
When boards decide to self manage, the percentage of owners wiling to do this is declines.
4. If you want an HOA where people are willing to serve, every board should make it easier for the next members, not more difficult.

1. wrong, read any mgt company contract they all specify contact with only the board and they will always defend the board vs the single homeowner. They serve the board and often token service to appease the owners, who they could care less about.
2. No the bylaws can be revised to allow payment of board members.
3. maybe for a condo, in our SFH the HOA does nothing to increase the leisure time of owners.
4. False narrative that self management is more work. I spent more time arguing with mgt companies. I've set up an email to print system where board members can simply email letters to a company that will print and mail them for the board. IT's just as much work as before when mgt would ask us to email it to them. now we email it to the printer.
We have 2 inspections a year is the only thing that is more work. takes 30 to 40 min each, set up with google forms and automatic mailing to you guessed it the same printing company.

DeanJ
Posts: 1,786

Posted:

Quote:

Posted By JackS20 on 08/31/2025 8:21 AM

Posted By DeanJ on 08/26/2025 10:03 PM
Jack,
1.The management company provides services for the board and the owners.
2. If the HOA is self managed, it means to board has to accept all the duties of the management company for free.
3. What about everyone misses about HOA living is people buy property and pay a fee to increase there leisure time and reduce the stress of home ownership.
When boards decide to self manage, the percentage of owners wiling to do this is declines.
4. If you want an HOA where people are willing to serve, every board should make it easier for the next members, not more difficult.

1. wrong, read any mgt company contract they all specify contact with only the board and they will always defend the board vs the single homeowner. They serve the board and often token service to appease the owners, who they could care less about.
2. No the bylaws can be revised to allow payment of board members.
3. maybe for a condo, in our SFH the HOA does nothing to increase the leisure time of owners.
4. False narrative that self management is more work. I spent more time arguing with mgt companies. I've set up an email to print system where board members can simply email letters to a company that will print and mail them for the board. IT's just as much work as before when mgt would ask us to email it to them. now we email it to the printer.
We have 2 inspections a year is the only thing that is more work. takes 30 to 40 min each, set up with google forms and automatic mailing to you guessed it the same printing company.

If I lived in an HOA with a $15 annual HOA fee, that would be one thing, but I live in 125 SFH community with an annual budget of $350,000 a year. If my community self managed, no one would be on the board.

i am not answering the phone and taking complaints. If the homeowner has a complaint about a contracted service, I am not taking the complaint, calling the contractor, scheduling a resolution, and following up with the owner.

I am not meeting with the lawn care company to discuss the solution to this year’s invasive weed.

I am not soliciting or meeting with contractors to get bids.

I am going to keep the financial records, do the banking, and answer account questions for the owners. I also I am not the person taking the calls wanting their late fee waived. I am not the person sending out late and foreclosure notices for non payment,

I am not walking 4 hours twice a year for inspections and then being the same person sending out and following up on violation notices and imposing fines.

I am not keeping current to changes to state and federal law and reporting to the board what they need to do to remain in compliance.

If we have a property damage insurance claim, I am not meeting with the adjuster or arguing the settlement.

We give our manager a task list at the end of each board meeting what we want accomplished and it gets done. You assign those tasks amoung you board members for completion.