Indiana COA Requirements to Keep Accounting Records

Hi Jeanette,

You may refer to the Indiana Condominium Act Section 32-25-8-8(a), which states that associations must keep detailed, accurate records in chronological order of the receipts and expenditures affecting common areas and facilities. If the association is incorporated as a non-profit, you may also refer to the Indiana Nonprofit Corporation Act of 1991 Section 23-17-27-1(b), stating that the association must keep appropriate accounting records.

Apart from this, kindly refer to the COA’s governing documents to find the recording and audit requirements.