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| Saturday, February 04, 2012
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DaniaA
(Florida)
Posts:1
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| 05/27/2011 8:12 AM |
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| I am a License Cam, but my question concerns the duties of each member, as I am the Treasurer in my community. We have several Board members that are questioning who should be allowed to sign checks, and the duties of each, I want to explain it, but feel that if I take a copy of your replies, would hold better. Thank you |
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DonnaS
(Tennessee)
Posts:5671
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| 05/27/2011 8:42 AM |
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Dania,
Common sense and most organizations call for at least 2 signatures, the President and the Treasurer. My Florida HOA signed checks ahead of time once they were addressed (aka Bell South, FPL, etc) and had them on file at the Management companies office so they could cut the checks without chaasing down the 2 officers. Some checks will be annual such as taxes, filing fees and such so those were signed by the officers at the time of billing. It is not that tough a job to pay the bills if you keep them organized.
Okay!!! Now, you, the licensed CAM need to kick into your training and inform the Board who does what for the association according to the wording in their documents. You get paid to advise the Board as to how to stay within their guidelines and the State Statutes. |
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RogerB
(Colorado)
Posts:4645
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| 05/27/2011 9:18 AM |
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| Dania, If you are a Licensed CAM why do you want others opinions before advising the Board? Show the Board their governing documents. If this issue is not addressed recommend the Board pass a resolution to define the policies and procedures to follow. I would allow several Board member to be signees of the checking account and have one authorized signee (or two for unusual checks) sign checks which have been prepared by the Treasurer or Manager. Some payments, such as utilities and trash, may be setup with the bank for EFT payments. |
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JanetB2
(Colorado)
Posts:1328
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| 05/27/2011 9:22 AM |
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Hi Dania:
If the Treasurer in your association does all the accounting instead of a bookkeeper or accountant, then I recommend two other signatures besides the Treasurer. If you have an individual outside the HOA doing the accounting then the Treasurer and one other officer sign, generally it is the President but really does not matter as long as two sign and the bills are paid.
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