Condo Q&A

Condo associations and the obligations provide financial records

Written by CondoAssociation.com | Mon, Nov 22, 2010 @ 07:04 PM

Today’s “Condo Law” column in the HI-Riser discusses the obligation of the Condo Association to make records available to owners. We have always done our best to fulfill our obligation. Recently I have two information requests that I am fulfilling. The work time involved is quite large, and I imagine that the actual intent of one of the requesters was exactly that—to make work for the office. The other requester wants us to write a 38 year history of the changes made to our HVAC system. “Who is responsible?” is the leitmotif of his/her demand. More work, some of it impossible. e. g. who was responsible for a change made 15 years ago? However, I don’t see a way around this. We are obligated to follow the law. The person who asked for the bank records, and canceled checks, and statements, and CDs was asked what was going to be done with these records. Paraphrased answer: "I’m going to give them to my accountant who will verify that everything is okay." But the Association’s accountant has audited the same paperwork at a cost of $6500. In effect, this Owner wants to audit the auditor. Does this owner think that our CPA is in collusion with a bunch of crooked Directors? I am wondering whether it is true that this owner is actually going to spend $6500 for her or his own personal audit—or is the Owner just playing power games? I think you know the answer. What should we do?