Cost for homeowner to review books

Sometimes, yes.

YOu're are a board member of the association. You have the right to inspect any and all records of the association, at any time. At the next board meeting, request whatever records you wish and the cost (copy only) should be a charge to the association, not you (if you request them independently, or outside the board, a case could be made that you are asking for them as an owner, not as a board member.) Since Michigan doesn't have an HOA law, the Non-profit Corporation Law would probably apply:

450.2485 Books, records, and minutes.

Sec. 485.

A corporation shall keep books and records of account and minutes of the proceedings of its shareholders or members, board, and executive committee, if any. Unless otherwise provided in the bylaws, the books, records, and minutes may be kept outside this state. The corporation shall keep at its registered office, or at the office of its transfer agent within or without this state, records containing the names and addresses of all shareholders or members, the number and class of shares held by each shareholder or the class or classes of membership held by each member and the dates when they respectively became holders of record thereof or members. Any of such books, records, or minutes may be in written form or in any other form capable of being converted into written form within a reasonable time. A corporation shall convert into written form without charge any such record not in such form, upon written request of a person entitled to inspect them.

Make sure your request is in the minutes. Follow it up with a written request, quoting the section above. If they don't allow you review the financial statement, and the supporting documents you ask for, then write the association's attorney, giving the details.

Susuan is right, you don't necessarily take possession of the actual books, but you should be able to see them, inspect them and get copies of them.

Joe

Laverne, in Florida owners are allowed to inspect records when properly requested. The only thing they're not allowed to inspect is anything which may be information that "identifies" another homeowner.

Shelly,

As Joseph says, as a member of the assn you have the right to inspect the records of the assn. I might add that applies whether your ask to see them as a board members or just a member. In fact, a board members shouldn't have to pay to see any of the assn's records.

An audit of the assn's financial records should always be performed by a licenses CPA, IMO. If you have accounting or at least bookkeeping experience you should be able to look at the financial statements and other records and make some determination as to whether some foul play has been going on. But a full-fledged audit should be perfomed by a professional and someone who is not an employee of the assn.