Posting Monthly Financial Statements in North Carolina

Hi Rose,

Homeowners associations are required to keep sufficiently detailed financial records and make them reasonably available for examination as required by the bylaws, in accordance with the North Carolina Planned Community Act Section 47F-3-118. Similar provisions exist for condo associations under the North Carolina Condominium Act Section 47C-3-118 and the North Carolina Unit Ownership Act Section 47A-20 (for condominiums created before October 1, 1986).

In addition, homeowners and condo associations under the North Carolina Planned Community Act and North Carolina Condominium Act must make an annual income and expense statement and balance sheet available to all owners at no charge and within 75 days after the close of the fiscal year to which the information relates.

The governing documents may also outline certain requirements when it comes to financial reporting and posting.