Board of directors; annual audit
In plain English: Requires the board to have an annual financial audit, review, or compilation completed within 180 days after the fiscal year ends, and to make it available to members within 30 days of a request. It gives homeowners a yearly window into the association's finances.
33-1810. Board of directors; annual audit
Unless any provision in the planned community documents requires an annual audit by a certified public accountant, the board of directors shall provide for an annual financial audit, review or compilation of the association. The audit, review or compilation shall be completed no later than one hundred eighty days after the end of the association's fiscal year and shall be made available upon request to the members within thirty days after its completion.