Self-managed HOA · Treasurer
HOA treasurer duties: a plain-language checklist
Updated · For volunteer boards
The short version
- The treasurer keeps the association’s money records honest: what came in, what went out, and what is owed.
- Do a few things every month (reconcile, review overdue accounts, report) and a few every year (budget, reserves, year-end package, annual meeting report).
- The treasurer does not have to be an accountant, but should get a CPA for the tax return and for anything uncertain.
- Your governing documents set the details. Georgia’s statute requires financial reports at the annual meeting.
Not legal advice. This page is general information for volunteer boards. It is not legal advice, and laws and documents differ. Ask your association’s attorney before you act on it.
What the job is
In most associations the treasurer is a volunteer officer. The role is to make sure the association’s money is recorded accurately, that the board can see where it stands, and that owners get the reports the documents and the law require.
It is a duty of care, not a licence. A treasurer who keeps clear records, asks questions and uses professionals when unsure is doing the job well. Your bylaws list the exact duties, so read them first.
Every month
Block an evening each month. These are the tasks that make the year-end easy.
- Record deposits and payments in the ledger, matched to the right owner or vendor.
- Reconcile the bank account: the books and the bank statement should agree, and any difference is explained.
- Review the overdue list. Contact owners early and in a consistent way.
- Approve and pay vendor bills against the budget, and keep the invoice with the payment record.
- Give the board a one-page report: cash, dues collected, what is overdue, spending against budget.
Dues and late fees
The treasurer usually owns the dues schedule. Bill on the dates your documents set, and treat every owner the same way. In Georgia, a late charge is added to the owner’s obligation only to the extent the instrument provides, and the statute caps it. Interest is a separate item.
“To the extent that the instrument provides, the personal obligation of the lot owner and the lien for assessments shall also include:”
“A late or delinquency charge not in excess of the greater of $10.00 or 10 percent of the amount of each assessment or installment thereof not paid when due;”
The annual budget and reserves
Each year the board adopts a budget for the next. The treasurer drafts it from last year’s actuals, known contract changes and the reserve plan. Reserves are money set aside for large repairs such as roofs, paving and pools. A budget that leaves them out tends to produce special assessments later.
Check your documents for the adoption steps: how the budget is approved, how owners are told, and when a dues increase takes effect.
The annual meeting report
Georgia’s statute says that comprehensive reports of the association’s affairs, finances and budget projections are made to the owners at the annual meeting. The treasurer is the natural author of the finances part.
“At the annual meeting, comprehensive reports of the affairs, finances, and budget projections of the association shall be made to the lot owners.”
Year-end and your accountant
At year end, gather a package for your CPA: financial statements, the ledger, amounts owed by owners, bank reconciliations, vendor payments and budget against actual. Ask the CPA which tax return the association files and which vendors need a 1099. Do not guess on tax questions.
From 2027, a Georgia owners’ association registering with the Secretary of State also files a financial statement dated no more than a year before the filing. Having the year-end package ready makes that easy.
“That each registration statement include a financial statement of the owners' association dated no more than one year prior to filing.”
Controls that protect you
Money handled by volunteers needs simple controls. Two people should see each payment: one approves, another records or reconciles. The person who signs checks should not be the only one who sees the bank statement. Keep every receipt and invoice. When the treasurer changes, hand over bank access and logins in writing.
What to do next
- 1Read the treasurer duties, the dues section and the budget section of your bylaws and declaration.
- 2Get read access to the bank account and the ledger, and agree who approves payments.
- 3Reconcile the most recent month and fix anything that does not match.
- 4Build the overdue list and decide how and when owners are contacted.
- 5Draft the next budget with a reserve line, and put the adoption steps on the calendar.
- 6Set a monthly report for the board, and a year-end package for your CPA.
What HomeownerHub does about this
- Bank statement import: for a bank that is not linked, upload a CSV, OFX or QFX file, preview it, and send the new transactions to the reconciliation queue. Re-importing the same file never adds a transaction twice.
- The year-end package is one zip with the statements, the ledger, amounts owed at year end, bank reconciliation status, vendor payments and budget against actual, for your accountant. It also has a Form 1120-H worksheet and a list of vendors who may need a 1099. It is not tax advice, and the app does not file the return.
- A monthly board report is emailed on the 1st to board and admin members: cash, dues collected, overdue balances, budget lines furthest from plan, violations and approvals waiting. You can preview it first.
- A late-fee policy page checks Georgia’s cap when the board saves a policy, so a policy over the cap cannot be saved.
- A budget adoption checklist walks the board through scheduling the meeting, sending notice, recording the adoption and then setting the new dues.
The board approves every draft. HomeownerHub prepares paperwork and cites the law; it does not file for you or give legal advice.
Frequently asked questions
- Does an HOA treasurer need to be an accountant?
- No. The role calls for care and consistency. Use a CPA for the tax return, for reviewing the books if your documents require it, and for anything you are unsure of.
- What reports does a treasurer give the board?
- A monthly summary is usual: cash on hand, dues billed and collected, overdue accounts, spending against budget and the reserve balance. Your bylaws may require more.
- Can a treasurer be personally liable?
- It depends on your documents, your state and the circumstances, so ask your attorney and your insurer about director and officer coverage. Good records and the controls above are your best protection.
- What is the difference between operating and reserve funds?
- The operating fund pays everyday costs such as landscaping, insurance and utilities. The reserve fund is saved for large repairs and replacements. Keep them separate in the books.
- What should we hand over when the treasurer changes?
- The ledger, bank statements and reconciliations, the budget, the owner balances, vendor contracts, and written access to every account, with passwords moved to the new treasurer by the bank or provider.
Keep reading
- GuideGeorgia HOA late fee limit: what the law allowsA Georgia HOA may charge a late fee only to the extent its governing instrument provides for one.
- Free toolHOA board meeting agenda template (printable)A one-page agenda for any state: quorum, conflicts, treasurer’s report, violations, action items.
- GuideSelf-managed HOA in Georgia: your first 90 days as a boardIn the first 30 days, get control of the documents, the bank account and the officer list. Nothing else works without them.
- Free toolAnnual meeting notice checklist (printable)A one-page checklist for noticing a Georgia HOA annual meeting.