Mailing or e-mailing Minutes and Monthly Financial Reports

Started by JeanneK3 • 7 replies • 1380 views

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JeanneK3 (Maryland)
Posts: 562

Posted:

Does anyone have a problem with getting Condo/HOA Board Meeting Minutes and/or Monthly Financial Reports mailed or e-mailed to them? Maryland has a law saying that any homeowner can have access to association books and records by going to the property manager's office during normal working hours but this can be a hardship for people who must work. I've heard that other states have laws that say such materials must be sent to homeowners upon request. Can anyone tell me which states? Thanks.

PaulM (Pennsylvania)
Posts: 1,347

Posted:

JeanneK3: You must refer to your official documents which will state how often financials must be communicated to members. Usually, the proposed budget is presented at the annual meeting for approval and ratification. If the budget is accepted as presented, these are the numbers the Board is to work with; however, some documents do give a small percent (5%) maximum they can go over. Some communities also give quarterly reports.

Refer to the search box for other posts on these subjects.

JeanneK3 (Maryland)
Posts: 562

Posted:

Paul: My condo documents are silent on this issue as are many of the older condo/HOA documents in Maryland. Some homeowners have been told to go to the management office (in another county) for Board Minutes which is why Maryland is considering a law to make such documents available by mail or e-mail. I believe Arizona already has such a law. Does anyone know if this is true?

DonnaS (Tennessee)
Posts: 5,671

Posted:

Jeannie,
I am in Florida, home of the mamoth HOA and CONDO statutes. Even with all that we have, there are no requirements for any association to e-mail or mail any minutes or financial statements to anyone on a personal level. These documents can be written into a monthly newsletter or posted in a conspicuous place for all to review. Florida requires that they be made available for all to inspect but not required to be mailed individually.

SusanW1 (Michigan)
Posts: 5,202

Posted:

A motion made and passed by the general membership ordering the Board to provide minutes of the meeting to all members could be made at the next AGM. Unless ordered to do so,(or in state or local or bylaws) the board has no obligation to produce THEIR meeting minutes to anyone. AGM minutes must be provided upon request.

JC3
Posts: 290

Posted:

We have some members asking about read only access to the actual bank account. What problems do you see with this?
(Our minutes are posted on our site as soon as approved.)

SusanW1 (Michigan)
Posts: 5,202

Posted:

What do they hope to find out? What information are they seeking?

The Board has adopted a budget (hopefully). Monthly reports are made, with revenues and expenditures compared to the budget, a P/L statement, and a Balance sheet (hopefully). That information should suffice any member.

Any more would be an audit, for goodness sake!

DonnaS (Tennessee)
Posts: 5,671

Posted:

JC3,
A problem that I see with everyone being able to see the bank account is that too many cooks spoil the stew. Just what your Treasurer and P.M. need is people seeing the numbers, not knowing what some of them are for, the phone ringing constantly to know what the numbers mean, and most important. THose bank numbers should be as secure as possible. How many people need to know association secure information? Not everyone in my opinion. Yes, a member has the right to know where their money is being spent but not all information should be made public. Just look at our government, Everyday they want to know more about our secured information and someday, nothing will be safe anymore. Even all of these posts can be viewed by an order from a judge.

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