---
title: Developer still controls HOA funds with funny accounting
description: Our Florida HOA is still under developer control and to date, no funds have been placed formally in reserves although our annual financials generate a surplus each year.
---

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# Developer still controls HOA funds with funny accounting

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## What do you think? Question:

Our Florida HOA is still under developer control and to date, no funds have been placed formally in reserves although our annual financials generate a surplus each year. The surplus is just sitting in a "fund balance" per se. Our developer says he will not declare reserves because we could not access this funds for operating shortfalls if they should occur. In other words, no reserve funding is done through the annual budget. Is this appropriate?

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## What do you think? Answers (2)

#### What are your thoughts on this topic?

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## Related Posts

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### [Can we charge an upfront fee for reserve fund?](https://www.condoassociation.com/blog/can-we-charge-an-upfront-condo-reserve-fund-fee)

### [Funds taken by condo president and board members quit.](https://www.condoassociation.com/blog/funds-taken-by-condo-president-and-board-members-quit)

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