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Forums > Homeowner Association > HOA Discussions
Subject: Finance Committee
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Author Messages
DH5
(California)

Posts:3
03/10/2010 2:15 PM  
I am a member of our community HOA Finanace Committee where we were formed as a result of ongoing inquiries to various serious fiancial cosiderations and out of control spending by the BOD.
These meetings are conducted with a board member (financial controller) present most of the time although he rarely resovles nor provides any feedback or documents to clarify certain.
This person has oftentimes refused to provide reasonable data or explanations for expenditures that are becoming more and more suspicious.
Now he states he will no longer attend our meetings, or when we proclaim we will reschedule our meeting at his convenience. We are structured with his attendence for this person to be a laison between the FC, BOD, and management.
Any suggestions where we go from here?
Thank you
DanielH1
(California)

Posts:481
03/10/2010 2:53 PM  
Your situation is not clear.

Did the current Board form the HOA Finance Committee to investigate a previous Board? Where does the Finance Committee get its authority?

If the Financial Controller to attend your meetings, you can remove him or start a petition to remove him from any officer position and/or Board Member position but I don't think that there is any way that you can force him to attend.

You can probably eventually figure out where the money went but not why it went there. Different Board Members might have different reasons why they voted to spend the money for a particular project.

What are you trying to accomplish? Do you think that you can get some of the money back somehow? Are you just looking to "name and blame"?
RogerB
(Colorado)

Posts:4647
03/10/2010 4:04 PM  
DH5, what is your basis for statomg there is out of control spending and what are the serious financial considerations? If you really have evidence to support theft or financial wrongdoing get a thorough audit and try to replace the responsible Board members. The Board member in charge of finances is not the person from which to expect honest answers since they probably would be involved in any financial wrongdoing.
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Forums > Homeowner Association > HOA Discussions > Finance Committee



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