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Treasurer reports accounting overhaul, $546,000 in multi-year outstanding assessments
Summary
The treasurer summarized 2025 financials, described modernization of accounting systems and internal controls, and reported outstanding assessments totaling about $546,000 across 2020'2025 plus unrecoverable dues of $233,362.12.
The treasurer reported the association implemented an accounting modernization during the 2025 fiscal year to convert historical data, correct posting errors, reconcile bank activity and establish consistent internal controls to support future audits.
"Total invoices for 2025, $375,809," the treasurer said, and provided a multi-year summary of receivables and recoverable balances. The treasurer listed outstanding accounts receivable for recent years and said outstanding assessments from 2020 to 2025 total about $546,000; unrecoverable prior dues were identified as $233,362.12. The report said $117,942 was an outstanding current accounts receivable balance and described work with professional services to address payroll and compliance issues.
Board members discussed collection options, with the secretary and others noting the association plans to place liens on properties owing more than a $600 threshold and to follow bylaw procedures for suspending voting rights of nonpaying owners. The treasurer said improved records and reconciliations are intended to make regular audits feasible and to increase transparency for members.
