[BWGHOA]

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Typically the financial reports supplied monthly for residents are a Balance Sheet and an Income Statement. Should they also be provided with how many homeowners have paid their dues and how many have not? Just the number of, not names or addresses. I believe that should only be disclosed to the Board Members, correct? Are there other financial reports that HOA Members should have access to? Thank you,

[profdan_h]

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Hi BWGHOA,

It really depends on your CC&Rs and bylaws. What do these documents say? Do they require the board to disclose the number of homeowners who are up-to-date and the number who are delinquent?

Just know that there are consequences involved if your board chooses to reveal this information. It is true that, for most HOAs, that type of information is only available to the board members.

As for other financial reports that members must have access to, it, again, depends on your CC&Rs and bylaws. You should also check your state laws for all of these issues.

Hope this helps.

[numerus]

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Generally, the HOA is only legally required to provide the financial statements of the association. A break down of owners paid vs. unpaid, would be entirely at the discretion of the board.

In our experience, they’re only required to provide it when a new owner is obtaining financing, or an existing owner is refinancing, and the lender could potentially request the amount of dues, number of homes, delinquency rate, etc. to understand the financial stability of the community before approving a home loan.

Hope this helps!

[Author]

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