What penalties are there if an HOA is underfunded? We are at 50%.

Does New Jersey state law require an audit? We send out monthly statements of Operating & Reserve accounts. An audit seems a waste of funds.

Can our HOA change its fiscal year from July to January?

Our condo association has never paid taxes. Should we be paying?

I am the owner of 2 unit condo. I have tried to refi the lower rental unit into a 15 or 30 year fixed mortgage. I am always told I can not do that because I own both units.

What percentage of money should ideally be kept in the reserves ?  Also what happens when the whole board resigns?