Condominium Associations are required by FS Chapter 718.111 (13) to provide their membership with year end financial reports. In the last few years, sections of the statute were changed and in some cases are now more restrictive and complicated. In order to comply with the statutes and with this important Board of Directors duty, the following is a review of the financial reporting requirements for condominium associations governed by FS Chapter 718.
Community Association Property Management, Palm Beach Co., Florida
-
Stop Using “No Name Service” for Your Community Association Bookkeeping
With today’s ever increasing state and federal regulations, rising delinquencies and resultant cash flow issues, community associations are under ever increasing pressures to have proper financial accounting performed on their behalf. It is time to stop using “No Name Bookkeeping Service” and a hire a bookkeeping company that specializes in servicing community associations. ...
-
A Series: Roles of Each Position on a Board of Directors – The Secretary
The following is a part in a series of a description of the roles and duties of each officer on a Board of Directors. Previously, we wrote about the role that a President and Vice President both play on a Board of Directors and in this article we will discuss the role of a Secretary....
-
Fair Housing Laws vs. a Community Association’s CC&R’s
Sometimes federal Fair Housing Laws will trump a community association’s Covenants, Conditions and Restrictions (CC&R’s). CC&R’s are contained in the association’s documents and they were written by the developer to ensure that a community was to be maintained in the future with a consistent character and vision. ...