Fidelity Insurance

Patricia if you read the HOA news on the main page you will have no doubt seen the rash of thefts both by management companies and treasurers in these hard times. So whatever you do I would make sure that anyone who handles Association funds is covered no matter if the law doesn't require it because your too small and that provisions are in place to discourage theft.

One of the things you can do if the bank statements go directly to the MC is for little or no charge have duplicate statements mailed directly to your treasurer from the bank, especially of reserve accounts. That way you are not dependant on numbers from the MC or for copies of bank statements from them; because they can be faked by anyone halfway competent on a computer.