Send us a textLearn to detect and prevent HOA fraud with these key steps. Safeguard your association’s funds and inspire transparency among your community!❗Join our LIVE Podcast April 1st 2024 on Youtube! 👉  https://www.youtube.com/watch?v=24KbKsKyoNY✅ Is a Reserve Study right for you? 👉 https://www.reservestudy.com/In this episode, we break into the complexities of HOA fraud and prevention methods. Join experts Russell Munz and Robert Nordlund as they discuss the fine line between cost-saving and fraud, emphasizing transparency in reserve accounts. Learn about the common fraud methods within community associations, from forged checks to financial mismanagement by companies and vendors. Discover the key steps for HOA board members to establish checks and balances, including financial reporting, proper bidding processes, and regular audits. As a bonus, we’ll cover the importance of homeowner involvement in financial oversight.Chapters from today's episode: Avoiding HOA Fraud00:00 Intro to Avoiding HOA Fraud02:38 How Much Money to Hold in Operating Account04:38 Is Fraud a Real Concern for HOA Reserves?07:06 How Fraud is Usually Done12:22 Is Pretty Cash an Issue?13:28 Can Zelle or Venmo Be Used?15:42 “Innocent” Forms  of HOA Fraud 17:25 What To Do As a Homeowner If You Suspect Fraud18:50 Should Multiple People Have Access?19:45 Spotting Fraud in Your HOA23:15 Does a homeowner Have a Right to Ask for Reports?27:02 Should Financial Info Be Sent Monthly?28:36 Tips for Financial ManagementPodcast Links:Full Episode ListWatch On YoutubeEngage in the conversation! Call our 24/7 voicemail line at (805) 203-3130 or send an email or voice memo to [email protected] yourself or a Board Hero you Know!Board Hero NominationsBoardmember Merch Store!Connect with Hosts on LinkedInJulie AdamenKevin Davis, CIRMSRobert Nordlund, PESupport Our SponsorsAssociation Insights & MarketplaceAssociation ReservesCommunity FinancialsKevin Davis Insurance ServicesStokelight Video & MarketingThe Inspectors of Election

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