HindmanSanchez

Financials & Reserves Resources

             

Now that the economy is at an upturn and associations are feeling more financially stable, many associations are investing in capital improvements for their communities.  Whether it’s installing a new swimming pool in the community, installing all new roofs, or upgrading the playground equipment, these types of projects are expensive and, oftentimes, require associations to… [Read More]

Loans vs Special Assessments

Date Posted: Friday, February, 27th, 2015

Suppose an owner in your association has requested access (inspection and/or copying) to certain financial records of the association.  What are the obligations of the board to provide this information?  Can it withhold any information?  Can you charge for access?  The answers are provided for in Colorado law (both the Colorado Common Interest Ownership Act… [Read More]

CCIOA Budget Process

Date Posted: Thursday, July, 31st, 2014

The Colorado Common Interest Ownership Act (“CCIOA”) provides a step-by-step process for budget ratification for communities created after July 1, 1992.  Associations created before July 1, 1992, and those that are otherwise exempt from CCIOA, are not required to follow the CCIOA budget ratification process and must follow the budgeting and assessment processes set forth… [Read More]

Board Members’ Rights and Duties Concerning Association Funds

Date Posted: Thursday, July, 31st, 2014

Board members owe several overarching fiduciary duties: the duty of reasonable care and attention, the duty of loyalty to faithfully pursue the community’s interests, and the duty of obedience to follow the association’s governing documents and policies. To fulfill these duties, a community association board member must exercise appropriate financial stewardship. Responsible fiscal responsibility has… [Read More]

http://www.hindmansanchez.com/resources/newsletter/associations-and-loans-review-your-documents-before-plunging-in/

Lakewood, Colorado

555 Zang Street, Suite 100

Lakewood, Colorado 80228-1011

Phone: (303) 432-9999

Toll Free Number: 1(800) 809-5242

Loveland, Colorado

1635 Foxtrail Drive, Suite 201

Loveland, Colorado 80538

Phone: (970) 377-9998

Toll Free Number: 1(800) 809-5242

Colorado Springs, Colorado

7660 Goddard Street, Suite 226

Colorado Springs, Colorado 80920

Phone: (719) 634-8333

Toll Free Number: 1(800) 809-5242

1(800) 809-5242

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