Did you receive the Annual Report by 4/30/2023?

It's amazing what you can find the Governing Documents, if you just wait for it to bubble up to the surface.

Read this in the By-Laws:

Art. III, C, Section 19 Accounts and Reports

"The following management standards of performance will be followed unless the Board by resolution specifically determines otherwise: 

        [(a) - (f) not shown] 

"(g) an annual report consisting of at least the following shall be distributed to all Members within one hundred twenty (120) days after the close of the fiscal year: (1) a balance sheet; (2) an operating (income) statement; and (3) a statement of changes in financial position for the fiscal year. The annual report referred to above shall be prepared on an audited or reviewed basis, as determined by the Board, by an independent public accountant; provided, upon written request of any holder, guarantor or insurer of any first Mortgage on a Unit, the Association shall provide an audited financial statement. During the Class “B” Control Period, the annual report shall include certified financial statements."

Contact the office and inform them that you did not receive the annual report (audited) by April 30, 2023. The fiscal year ended 12/31/2022.

Ask for an explanation in writing why the management standard of performance was not followed. Ask for a copy of any Resolution adopted by the Board that specifically determines otherwise.

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