We want to thank all of the attendees of the Community Association Institute Rocky Mountain Chapter’s 2019 Spring Trade show and Conference that participated in our class Friday March 15th in Denver, CO. 80 Managers and Board Members learned about HOA and Condo financial best practices by Community Financials.
The class started by reviewing three community embezzlement case studies to learn what not to do. Each case highlighted theft by different parties: a Board President, an Onsite Manager and a Management Company and then prescribed how they could have been prevented. Then we discussed Accounts Receivable and Accounts Payable tools and technology that could help prevent fraud. Lastly, we detailed the Top 4 Financial Reports to operate a community, why they are important, how to read them and how some could have prevented embezzlement crimes.
The class was approved by Colorado’s Department of Regulatory Agencies Division of Real Estate and also the Community Association Managers International Certification Board (CAMICB) for continuing education credit.
If you want to learn more about how theft occurs at condos and HOAs and how to prevent it you can read our series of blogs titled:
Association Greed, Board Members, Managers and Missing Money. You can start with this case study in Arizona.