treasurer problems

Started by ValerieC • 9 replies • 2235 views

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ValerieC (North Carolina)
Posts: 25

Posted:

Would it be correct to remove the treasurer from her duties if she has not collected or followed specific procedures given her by the board to collect assessments for the year? We have offered to help her out since she had some family problems. This has happened in the past as well. However, now she refuses to give the board a list of outstanding assessments. They were due the first of the year.

MistiH (Texas)
Posts: 52

Posted:

May I suggest an audit of the books? Reading your post made me wonder what she's hiding.

Loving Life in Texas!
Misti

SwanB (Washington)
Posts: 199

Posted:

There are obviously problems going on and one of them is with communication. I would try talking through before removing because with removal you have no access to the information she has in her brain.

MistiH (Texas)
Posts: 52

Posted:

Swan, you make a good point. It is logical.

However, the accountant that I am says the longer she retains the books, the greater the possibility of mis-deed or cover up of mis-deeds that may have already occurred.

Loving Life in Texas!
Misti

ValerieC (North Carolina)
Posts: 25

Posted:

I see I am not the only suspicious one on this one.
I sure do appreciate your input! We do have some communication problems here. Another issue is that our HOA treaasurer has never required more than 1 signature on our accounts. I instructed her to add the vice-president, and she is still fighting this!

GeraldT1 (<Not Specified>)
Posts: 519

Posted:

ValerieC,

Thank the old treasurer and diplomatically reassign a new one.

GeraldT1

MistiH (Texas)
Posts: 52

Posted:

Posted By ValerieC on 07/09/2006 8:33 AM

Another issue is that our HOA treaasurer has never required more than 1 signature on our accounts. I instructed her to add the vice-president, and she is still fighting this!

IMO This is poor business practice. There should always be two signataries on a business account. Keeps people honest when there is a solid checks and balance system. Bylaws could be ammended to require 2 signatures on all checks.

Loving Life in Texas!
Misti

ValerieC (North Carolina)
Posts: 25

Posted:

Yes, we will be doing an internal audit at the meeting this month. And, an amendment would be good. May consider that for the annual meeting, but it takes a large majority to pass. Still worth the effort.

MarieG (Florida)
Posts: 11

Posted:

Very simple.....Send her a letter requesting all books and records and an accounting of the assessment for the year. This letter can be signed: Board of Directors. If your Treasurer doesn't comply , then I would go further. An amendment is a waste of time and money.

DarrellP (Oklahoma)
Posts: 8

Posted:

Our association is set up where any member can look at the books upon request. might check cc&r.

Check and see under what conditions board can remove a board member. ours is set where we can only remove for just cause.

We put a by-law in stating that any thing over 500.00 not aproved in the budget at the annualy meeting must have two signatures. (I had this put in as I am the treasurer and did not want any of the problems you are having)

Our checking account has president, vice-president and treasurer on it. It takes about 10 min at the bank to change this or the bank can fill out the forms and you can have it signed and notarized and retured to the bank.

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