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Frequently Asked Questions

What types of community associations do you serve?

We work with condominium associations, homeowner associations (HOAs), cooperative buildings, master associations, mixed-use properties, and other common interest communities. We also assist owners, board members, attorneys, developers, and finance committees seeking independent financial and governance expertise.

How do you uncover fraud, waste, or financial misconduct in an association?

Our investigations combine forensic accounting, document review, reserve study analysis, financial modeling, interviews, and on-site observations. We follow the money, reconcile conflicting records, test assumptions, and identify issues that traditional reviews often overlook.

What makes a budget credible?

A credible budget is supported by realistic assumptions, historical trends, reserve funding requirements, tax obligations, contractual commitments, and documented operating needs. We frequently identify budgets that omit known expenses, underestimate future costs, or rely on unsupported assumptions.

Can an association receive a clean audit opinion and still have financial problems?

Yes. An audit evaluates whether financial statements are fairly presented in accordance with accounting standards. It does not determine whether reserve contributions are adequate, whether budgets are realistic, or whether assessments are sufficient to meet future obligations.

What is a "sham reserve study"?

A sham reserve study is an analysis that materially understates a community's future repair and replacement obligations, whether through error, negligence, unrealistic assumptions, or incomplete component inventories. We evaluate reserve studies by examining supporting documentation, assumptions, funding models, and actual property conditions.

Can a reserve study hide a financial problem?

Yes. A reserve study can understate future funding needs by extending useful lives, reducing replacement costs, deferring projects, or omitting projects altogether. The result may be lower assessments today but larger special assessments and reserve shortfalls later. We help boards and owners evaluate whether reserve study assumptions are reasonable and adequately supported.

When should a board seek an independent review?

Independent reviews are often appropriate when assessments are increasing rapidly, reserves appear underfunded, major projects are being deferred, owners have lost confidence in financial reporting, management recommendations cannot be fully explained, or litigation is being considered.

Do you provide expert witness and litigation support services?

Yes. We assist attorneys, associations, directors, and owners with financial analyses, damage calculations, reserve funding issues, budget disputes, governance matters, records examinations, and expert testimony in community association-related matters.

Can you assist with buyer or lender due diligence?

Yes. We help prospective purchasers, lenders, investors, and attorneys evaluate association finances, reserve funding, special assessment risks, governance practices, and long-term financial sustainability before major decisions are made.

Tell us about your community association concerns

Tell us how we can help

Frequently Asked Questions

Wondering about your association’s financial health, governance, or risk exposure? Schedule a free, no-obligation consultation — confidential, independent, and answerable only to you.