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Disappearance Of HOA Income Into Thin Air

Our Board adopted our 2018 Budget in December 2017.
And an annual income budget item in it was identified as $4,320. However, it should have been $6,480, and unit owners started to send in their assessments for that income budget item at a rate of $45.00 per month.

It follows that at the end of 2018, unit owners will have paid in $6,480 as income but only $4,320 will have been recorded as income in the 2018 Audit so as to agree with the income of $4,320 identified in the 2018 Budget. And effectively $2,160 will have disappeared into thin air.

And my questions are "Where could the $2,160 be found in financials or whatever?" And "Should our 2018 Budget be amended and how?" And "Who will be at fault - our management company, or our Board that adopted the 2018 Budget?"
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Can buyer be forced to pay cash upfront for condo?

I want to buy a condo. The HOA told me you can't buy the 
condo with a mortgage. Cost must be ALL cash up front. 
Is this legal?
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Condo association cut of my gas for non-payment

My condo association cut off my gas for non-payment of association fees, leaving me with no heat during the winter. What are my rights? Is this legal?
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Co-mingling of expenses between condo association and unit owner projects

I would like to know how to assess who is liable for damages caused by faulty foundations. I live in a small (7 units) self-managed condo. We have been undergoing repairs to our buildings for approximately 6 months. I just received an ACCOUNT QUICK REPORT from the president. I am concerned because the report reflects payments for work being done on the President's unit and one other which is not only repairing the damages incurred but also the complete redesign of the bathrooms, replacing the floors, etc. with upgraded materials, changing plumbing and electrical outlets. I am being assessed these costs. Also included in the accounting are charges made to pay for upgrading the president's garage. The report shows all expenses being commingled. There is no definition as to who is responsible for what. She is also paying a general contractor for supervision? There is also a bill for replacing the tile on our balconies. I have never seen a bid for this work, nor do I know who is doing the work.
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Where does our condo association profit go every year?

For more than three years I have been been trying very hard to find out - without success - where my Condo's surplus net income goes each year. It appears to me that it just disappears into thin air, and that bothers me.

However, it it has occurred to me that it can be prevented by returning it to unit owners. And apparently it can be according to our Condo's bylaws 1.) and the Maryland Condominium Act , 2.), where they say:

1. Condo Bylaw: "Any amount accumulated in excess of the amount required for actual expenses and reserves and any Common Profits shall, in the discretion of the Board of Directors, either be returned to the Unit Owners in accordance with each Owner's Percentage interest in Common Expenses and Common Profits or be credited according to each unit Owner's Percentage Interest in Common Expenses and Common Profits to the next monthly installments due from Unit Owners under the current fiscal year's budget, until exhausted, or be used for any other purpose as the Board of Directors decides, provided such use is for the benefit of the Condominium and the Council or the Unit Owners."

2. Maryland Condominium Act: "All common profits shall be disbursed to the unit owners, be credited to their assessments in proportion to their percentage interests in common profits and common expenses, or be used for any other purpose as the council of unit owners decides."

Please note: In 1.) Our Condo bylaw says the Board of Directors has discretion to make the choice, but in the case of the Maryland Condominium Act it is the Council of unit owners who decides.

Two very important questions are: "Which one rules?" and "Which one benefits the Condominium and the Council of unit owners the most?"

Please also note: The intention is to prevent (my) condo's annual surplus net income disappearing into thin air."
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HOA Board Expense Budget Questions 

Reviewing the Approved Budget and Actual Budget for Misc Expense over the past two years I am a bit disconcerted. Here are my concerns:

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Condo Board -Budget Review for 2018

This is the first time in 28 years the Condo Board and Property Management have shown condo owners a review of proposed 2018 budget and actual budget/outcome for 2017. I do have a couple of questions: 1) The 2017 budget shows only dates from 1/01/2017 thru 9/01/2017 (Annual Meeting date, I surmise)

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Does our condo complex need a financial audit?

I live in a small 10 unit condo complex in Alaska. The Declaration was legally amended to change the audit requirement to a review of the books every other year by a licensed CPA. About a year ago I requested a copy of the latest audit and learned one had not been done for at least seven years. At the last owners meeting the manager stated that for small condo associations a federal tax return suffices for an audit. I have researched state laws and could not find anything that backed up the manager's statement. Has anyone heard a tax return suffices for a review? What will a review of the books reveal? Shouldn't the manager encourage the board to follow Declaration requirements until they are legally changed?
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More on HOA, FHA and delinquencies

On another thread, Louise quoted some FHA guidelines, and my question pertains to this part: "Delinquent Dues: No more than 15% of units can be arrears in their assessments more than 60 days."

What about a small condo with only six units? Each owner is already more than 15 percent of all owners.

Question 1) If one owner is behind in paying HOA fees by more than 60 days, we are in violation of the FHA guidelines--right?

Question 2) What else does "more than 60 days" mean? Can it also mean that if one owner owes only one month's fees but still owes for the month of June in October (more than 60 days), we are in violation?

Question 3) If each of two of the six owners is late in paying one month's fees and both pay after 30 days but before 60 days, are we in violation?

It seems more difficult for a small condominium to stay on the "approved" side of FHA guidelines than for a large condo of 20 units or more. Does the FHA take size into consideration at all? Next year, we will apply for re-certification, and I am concerned about how strictly the FHA applies its guidelines to small condominiums.
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How to qualify for FHA approval?

Is 70% owner occupation the qualifier for FHA approval in Connecticut? Our condo has the designation of "FHA approved" but we are well below the 70%

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