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Treasurer warns of missing records, lost liens and $41,000 bank discrepancy
Summary
Leilani Estates' treasurer detailed gaps in financial records dating back to 2016-2019, estimated $47,000 in lien renewals lost, $151,000 in uncollectible dues, and a $41,000 discrepancy between bank statements and the accounting system; she proposed starting a clean ledger at 2020 then auditing earlier years.
Janice Tucker, the association treasurer (as introduced in the meeting), told the board she has found substantial gaps and anomalies in the association's records and recommended starting a new accounting system beginning in 2020 followed by a forensic review of earlier years.
"There's a $41,000 error in the bank balance," the treasurer said, describing a mismatch between what the old system showed and the amounts verified on bank statements. She also reported missing paper records for 2016-2019, lost lien renewals worth about $47,000, missing invoices across multiple years, payroll reporting glitches that display checks as $0 in the older system, and an estimated $151,000 in dues that are likely uncollectible.
Janice proposed a pragmatic approach: get current records into a modern ledger (cloud backup to Dropbox), get accounts current from 2020 forward, then pursue a narrower forensic review of prior years where physical records remain. She suggested the association consider a property manager to handle day-to-day receivables and collections once books are stabilized.
Members asked whether misappropriation or theft was evident; the treasurer said she had not yet found definitive evidence of theft but identified many irregularities that merit investigation. The board agreed to tighten records management and consider follow-up steps.
