Financial Controls

From the beginning of establishing Chestnut Hills Homeowners Association, we established a controlled financial environment for the association funds. We divide the financial responsibilities between two board members. The treasurer writes checks, balances the checkbook and provides financial statements. Another board member makes deposits and previews the checks that the treasurer writes.

This is one way to ensure that the funds are appropriately used. Separating the duties of those involved in handling the funds (especially balancing the checkbook and making deposits) creates a trustworthy system.