Post Financial Reports Before BOD Meeting?
Should the HOA post monthly financial reports online before the Board of Directors meetings? Why should it do that? The reports are complicated. It's difficult for most Members to read and understand them. If Members had some time to examine them and compare them with previous months, Members could ask intelligent and appropriate questions at Board Meetings. Ex., Members could ask about the Variances. Why are Line Items over-budget? Members could ask for explanations of the two charts, which make no sense at all. The legend on the Reconciled Operating Cash Chart shows two lines: Operating Cash and Net Cash. Yet the chart contains only one line. If your EKG looked like that, your doctor would have you in the ICU. Members could (should!) ask why, on the Reserve Accounts Trends chart, there is a steady decline from May 2024 to January 2025. Recall that the contribution to Reserves in 2024 was ZERO (and it is only $3,000 for 2025). Members could ask why Accounts Receivable (Line 1200 f...