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What does an HOA treasurer do?

Discover the essential duties of an HOA treasurer, from managing finances to facilitating community relations for effective neighborhood governance.

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Reviewed by:

D. Goren

Head of Content

Updated Dec, 6

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What does an HOA treasurer do?

 

The Role of an HOA Treasurer

 

The HOA treasurer is the board member who manages the association’s money and financial records. Their job is to keep the HOA financially healthy, transparent, and compliant with state laws and the governing documents.

 

Core Responsibilities

 

  • Budget creation: The treasurer prepares the annual budget by reviewing past expenses, expected future costs, and planned projects. “Depends on the community” means each HOA has different needs—condos require more maintenance spending, while single‑family HOAs may focus on landscaping or amenities.
  • Tracking income and expenses: They record all money coming in (dues, fees) and all money going out (bills, repairs, contracts). This ensures accuracy and prevents overspending.
  • Reserve fund management: The treasurer oversees savings meant for long‑term repairs such as roofs, paving, or pool resurfacing. They follow a reserve study, if the state requires one, to decide how much money must be set aside each year.
  • Financial reporting: They provide monthly or quarterly reports to the board and yearly summaries to the members. Clear reports help homeowners understand how dues are used.
  • Working with professionals: Many HOAs use accountants or management companies. The treasurer reviews their work, approves invoices, and ensures records stay correct and accessible.
  • Handling assessments and delinquencies: They track who has paid dues. If someone falls behind, the treasurer follows the collection process set in the governing documents and state law.
  • Compliance: They make sure financial practices follow state statutes, IRS rules, and the HOA’s bylaws.

 

What the Treasurer Does Not Do

 

  • They do not control all decisions alone: Spending and budget changes usually need full board approval.
  • They do not act as the HOA’s personal banker: All funds belong to the association, not the treasurer.

Overall, the HOA treasurer is the board’s financial manager: they safeguard the money, maintain accurate records, and ensure the community’s financial stability.

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