The New HOA Treasurer

About this book

You said yes. Now there’s a checkbook, a reserve study nobody has read, a list of neighbors who are behind on their assessments, and a board meeting next month.

Most HOA and condo association treasurers get the job with no training at all. This course walks you through your first year in six practical sessions, with plain-English explanations built around a neighborhood association you’ll get to know along the way, whether your association manages itself or pays a management company.

• How to take over from the last treasurer, and what to collect before they leave
• Billing and posting assessments, and a fair, written collection policy for owners who fall behind
• Operating vs. reserve money, the reserve study, and special assessments done by the book
• Overseeing a management company: accounts in the association’s name, and the bank statements in yours
• Budgets owners will accept, the annual audit or review, and Form 1120-H vs. Form 1120
• Simple controls that protect the association’s money and your good name

Each session ends with discussion questions to work through with your outgoing treasurer, your board, or your community manager. A companion workbook with practice exercises and reproducible forms is available separately.

The treasurer books are general education for volunteers. They are not individual tax, legal or accounting advice; for your organization's specific situation, consult a qualified professional.