A must read for board members of HOAs, condos and co-ops. Learn what is needed to make sound financial decisions for your communities. I have witnessed Board members lacking knowledge of accounting and finance. They did not understand a balance sheet or operating statement; They did not know what to do with a year-end surplus; they did not understand accruals; they did not know when to create Reserves or how to maintain them; often budgets made no sense; they approved expenditures and signed checks without knowing what they were approving. And so, this book was written to aid board members in their fiduciary responsibility to their community. This is the third edition, published February, 2016.
Language
English
Pages
64
Format
Paperback
Release
April 22, 2014
ISBN 13
9781497438576
Don't Sign That Check !: A Simple Guide For Residential Association Board Members Dealing With Accounting And Financial Decisions
A must read for board members of HOAs, condos and co-ops. Learn what is needed to make sound financial decisions for your communities. I have witnessed Board members lacking knowledge of accounting and finance. They did not understand a balance sheet or operating statement; They did not know what to do with a year-end surplus; they did not understand accruals; they did not know when to create Reserves or how to maintain them; often budgets made no sense; they approved expenditures and signed checks without knowing what they were approving. And so, this book was written to aid board members in their fiduciary responsibility to their community. This is the third edition, published February, 2016.