---
title: Board and property manager hiding $350K mistake in HOA reserves
description: Our HOA board and property manager found a $350k mistake in out reserve budget but refuse to tell anyone.
image: https://www.condoassociation.com/hs-fs/file-13173178-jpg/images/reserves-resized-600.jpg
---

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# Board and property manager hiding $350K mistake in HOA reserves

| [Budgets & Finance](https://www.condoassociation.com/blog/topic/budgets-finance) |   [Condo Reserves](https://www.condoassociation.com/blog/topic/condo-reserves) |  

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## What do you think? Question:

![hoa reserves](https://www.condoassociation.com/hs-fs/file-13173178-jpg/images/reserves-resized-600.jpg)I was on the our [HOA](https://www.condoassociation.com/CondoAssociation/tabid/83434/Default.aspx) board and volunteered for the budget committee. We located well over $350,000 of errors in the $897,000 [HOA reserve](https://www.condoassociation.com/blog/tabid/19257/bid/8320/What-is-a-Condo-Association-Reserve.aspx). Records show this has been going on for three years. Even through I have a witness when finding these mistakes the BOD and [Property Manager](https://www.condoassociation.com/index.php) wanted to hide them from the owners. At the annual meeting they denied they were aware of any mistakes and this was the first they heard about it. This was an outright lie to the owners. Some of this is documented via email and the corrections made on the final reserve. In the process we were repeatedly denied all financial records. The HOA Board pushed the budget thru even known there were more errors to deal with. Does anyone know if legal action should/can be taken?

6SEAYRH3YDKP  

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## What do you think? Answers (10)

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

***Comments and postings are not legal advice**, but are the opinions of our readers. This forum and its contents are being monitored. Please be respectful of each other. *  
  

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