[beccagrace]

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We have several residents who question the necessity of having cash reserves and CD’s. Our HOA is almost 20 years old, and the HOA is responsible for maintaining several areas of the campus. If we deplete the funds designated, the BOD will institute an assessment to cover the expense. Any advice how to bring resident awareness to the financial obligation the BOD is responsible for maintaining.

[timothadeus]

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Totally get this. We had the same issue in our HOA. What helped was showing how reserves prevent surprise special assessments. Once people saw the long-term maintenance costs and how CDs just help earn interest on idle funds, they got it. Transparency really goes a long way.

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