With deteriorating bank balance sheets and the lowering of the bank ratings, we are reminded that Boards of Directors have a statutory and fiduciary duty to maintain and invest community association funds wisely and safely. With the current low yields and lower assessment revenues there may be a tendency for some associations to want to forget that the Florida statutes are quite clear about commingling, investing and reporting when it comes to your association funds.
Community Association Property Management, Palm Beach Co., Florida
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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. ...
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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....
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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. ...