Homeowners associations face several challenges when it comes to managing your finances. You have to stay on top of all funds coming in and going out, keep an eye out for fraud or embezzlement, and confirm you have a solid long-term financial strategy for the community. HOA board members don't always have a strong understanding of accounting for this type of organization, which can lead to mismanaged funds and other problems. Use these five tactics to avoid accounting problems with your HOA.
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