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Proposal raises audit threshold for resident‑owned manufactured‑home communities; advocates say change reduces costs
Summary
SB 165 would raise the financial thresholds that trigger external audits for resident‑owned manufactured‑home communities (ROCs). Supporters said the existing $250,000 threshold is outdated and audit costs can be burdensome for small cooperatives; opponents did not appear at the hearing.
Senate Bill 165, introduced on behalf of Sen. Kevin Abar, would increase the financial thresholds that trigger mandatory external audits for resident‑owned manufactured‑home communities. Grant Bossie introduced the bill and said it would keep transparency while reducing an outsized compliance burden on small cooperatives.
Abby Bronson of the New Hampshire Community Loan Fund testified in support, saying the audit threshold has not been updated in 35 years and “an audit costs about $10,000.” Bronson said many resident‑owned communities are small — averaging roughly 60 homes — and an external audit fee can represent a substantial annual per‑home cost. Under the bill, communities with under $1,000,000 in revenue would perform internal financial reviews and report to members; communities above $2,000,000 would still require a full external audit.
Supporters said the change would bring ROC financial reporting rules into alignment with thresholds used for other nonprofit entities and would reduce administrative cost pressure on low‑income households that own their homes but not the land beneath them.
Ending: The committee heard supportive testimony that the change would lower burdens for small ROCs while maintaining adequate financial transparency for larger communities.
