HOA Reserves - FL

Started by NicholasL1 • 1 replies • 1701 views

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NicholasL1 (Florida)
Posts: 2

Posted:

Our HOA is thinking of switching from a straight line reserve to a cash flow method. Does the Board need to have a meeting to do the switch? Does the membership have to vote on it?

RogerB (Colorado)
Posts: 5,067

Posted:

Nicholas, the Board can decide. One question to answer is will this affect tax reports. I much prefer to using cash accounting because the members can understand the reports.

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