§5500 - Required Reviews

Unless the governing documents impose more stringent standards, the board shall do all of the following:

  1. Review, on a monthly basis, a current reconciliation of the association's operating accounts.
  2. Review, on a monthly basis, a current reconciliation of the association's reserve accounts.
  3. Review, on a monthly basis, the current year's actual operating revenues and expenses compared to the current year's budget.
  4. Review, on a monthly basis, the latest account statements prepared by the financial institutions where the association has its operating and reserve accounts.
  5. Review, on a monthly basis, an income and expense statement for the association's operating and reserve accounts.
  6. Review, on a monthly basis, the check register, monthly general ledger, and delinquent assessment receivable reports.
Notes on the Text: 

Location in "Old" Davis-Stirling:

§1365.5(a)