What Are the Duties of our HOA Treasurer?

The SCSH Homeowners Association is a $10 million corporation. Our SCSH By-laws specify the duties of the Treasurer.

Here are the duties of Treasurer as defined by Section 11.10 of our by-laws:

"(a) Keep and maintain, or cause to be kept and maintained, adequate and correct accounts of properties and business transactions of the Association, including an account of its assets, liabilities, receipts. disbursements, gains, losses, capital, retained earnings and other matters customarily included in financial statements

(b) deposit all monies and other valuables in the name and credit to the credit of the Association with such depositaries as may be designated by the Board

(c) disburse funds of the Association as may be ordered by the Board.

(d) render to the President and other directors whenever they request it, an account of all his or her transactions as Treasurer and of the financial condition of the Association.

(e) have such other powers and perform such other duties as may be prescribed by the Board or the by-laws."

It is the responsibility of the Treasurer to respond to the President and/or any other director with respect to information that they want on the financial condition of the Association. This means the President and/or other Board members can request any financial reports from the Treasurer that they deem necessary to properly oversee the financial status of the community.