One of the most important
responsibilities of the board is to manage the associationís funds,
The board takes this responsibility seriously.
These are the procedures the board insist on to protect your money:
- Association financial records are reviewed annually by a certified public accountant.
- Bank statements are reconciled promptly each month.
- The balance sheet and profit and loss statement are reviewed each month, and expenses are compared to the budget each month.
- The association has a collection policy that safeguards cash flow.
- All association volunteers and personnel who have access to association funds are bonded.
- Kickbacks are prohibited and any possible conflict of interest must be disclosed.