Condo Q&A

What does Dues Paid To Treasurer on balance sheet mean?

Written by CondoAssociation.com | Tue, Sep 3, 2019 @ 07:17 PM

This year our small 17-unit condo association employed a property management company. They handle our finances and overseeing bids for maintenance projects and the contractors.  My question has to do with a line item on our Balance Sheet that no one at the property management company can explain to us. The line item is “Dues Paid to Treasurer” and it is a line item under Equity. Has anyone seen a line item like that on their Balance Sheet and what does it mean?  Appleton, Wisconsin