You just became the HOA treasurer. Maybe you volunteered. Maybe nobody else would do it. Either way, you are now personally responsible for the association's money.

This is not a ceremonial role. The treasurer is the financial steward of every dollar the community collects. Here is what to do in the first 90 days.

Week 1: Get access

Before you can do anything, you need access to the financial systems.

  • Bank accounts. Get signatory authority on all HOA bank accounts. This requires a board resolution and a trip to the bank. Do not skip this. If the previous treasurer is the only signatory and becomes unavailable, the HOA's money is frozen.
  • Accounting records. Get the login credentials, files, or software access for whatever system the previous treasurer used. QuickBooks, spreadsheets, a shoebox of receipts. Whatever it is, get it now.
  • Insurance policies. Request copies of all insurance policies. General liability, property, D&O, fidelity bond. Confirm they are current.
  • Governing documents. Read the financial sections of the CC&Rs and bylaws. They define your authority, spending limits, and reporting obligations.

Month 1: Assess the situation

Now that you have access, figure out what you are working with.

  • Review the last 12 months of bank statements. Reconcile them against the accounting records. Look for unexplained transactions, missing deposits, or checks that do not match invoices.
  • Check the current bank balances. Compare operating and reserve fund balances against what the books say. If they do not match, find out why before doing anything else.
  • Review the current budget. Is the association collecting enough in assessments to cover expenses? Are reserve contributions being made? Is the budget realistic?
  • Look at accounts receivable. How many owners are behind on dues? How far behind? What collection efforts have been made?
  • Review vendor contracts. What recurring expenses does the HOA have? Landscaping, insurance, utilities, management fees (if any). When do contracts expire?

Month 2: Fix the foundation

Based on what you found in month one, start fixing problems.

  • Set up proper accounting. If the previous treasurer used a spreadsheet, move to real accounting software. CommunityPay provides double-entry fund accounting designed for HOAs. The ledger tracks operating and reserve funds separately, and every transaction is enforced and auditable.
  • Separate operating and reserve funds. If they are in the same bank account, open a separate reserve account. Fund commingling is a fiduciary violation in most states.
  • Start monthly reconciliation. Every month, reconcile bank statements against the books. This catches errors and fraud early. It takes 30 minutes if the books are clean.
  • Address delinquencies. Send collection notices to owners who are behind on assessments. Follow the process defined in your governing documents. Late fees should be applied consistently per the schedule.

Month 3: Report and plan

  • Produce financial statements. At minimum: balance sheet, income statement (budget vs. actual), and reserve fund status. Present these at the board meeting. Distribute to homeowners if required by your state or governing documents.
  • Review the reserve study. If the HOA does not have one, get one. If it is more than three years old, get it updated. The reserve study drives the reserve contribution amount in the budget.
  • Prepare for the annual budget. If the fiscal year end is approaching, start the budget process now. The budget should be based on actual expenses from the current year plus known changes for next year.
  • Set up recurring reports. Monthly financial statements to the board. Quarterly or annual statements to homeowners. AR aging reports for tracking delinquencies.

The ongoing discipline

After the first 90 days, the treasurer's job becomes routine: monthly reconciliation, monthly financial statements, quarterly board reporting, annual budget preparation, annual audit or review (if required).

The work is not glamorous. It is the single most important board role. Every other decision the board makes depends on accurate financial information. Get it right and the community runs. Get it wrong and the community pays.