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@arnie920 I totally get where you’re coming from. That was also something we considered. In our case, we give the management company authority to write checks up to a thousand dollars – that’s it. For larger payments, they will have to get the board’s green light. If you’re worried about abuse or fraud, put a cap on it.
Additionally, HOAs usually have internal controls set up for this type of thing. Your board should review the financial statements and reconcile bank accounts every month, at the very least. This is how you can make sure everything’s in good order. Checks and balances and all that.
