Send us Fan Mail

HOA fraud happens more often than most boards realize. Here's how to make your community a harder target!
✅ Is a Reserve Study right for you? 👉 https://www.reservestudy.com/

In Episode 165, we're joined once again by repeat guest Russell Munz of Community Financials. Serving associations nationwide, Community Financials provides financial management and a variety of remote services to help HOA boards operate more effectively. One of Russell's recent newsletters focused on preventing fraud & embezzlement within HOA boards, and after reading it, we knew it was a message worth sharing with our podcast audience!

Chapters:

00:00 What financial red flags should every HOA board notice?
00:44 Why HOA fraud is more common than most boards realize
03:30 Should homeowners have access to HOA financial reports?
05:40 What financial reports should every HOA board review?
07:10 Can finance committees help prevent HOA fraud?
07:48 Why every board member—not just the treasurer—must review finances
09:16 Which financial reports matter most each month?
11:23 How did an HOA lose $11 million to fraud?
13:30 Is HOA fraud caused by bad people or bad systems?
15:04 Why transparency is your best defense against fraud
17:01 How simple mistakes allow fraud to happen
18:43 What three conditions make fraud possible?
19:49 Ad Break - Community Financials
20:20 What internal controls should every HOA implement?
22:48 How can vendor oversight prevent embezzlement?
24:22 What financial reports should boards question every month?
26:29 Why bank statements and reconciliations matter
29:22 What oversight habits catch fraud before it grows?
32:13 Why reserve accounts need the same protection as operating funds
33:00 What final steps make your HOA a hard target for fraud?
35:00 Why "trust but verify" is every board's best policy

The views & opinions expressed in this program are those of the Hosts & Guests, intended to provide general education about the community association industry. The content is not intended to provide specific advice or recommendations for any individual or organization.

Podcast Links:
Full Episode List
Watch On Youtube

Engage in the conversation!

Call our 24/7 voicemail line at (805) 203-3130 or send an email or voice memo to podcast@reservestudy.com

Nominate yourself or a Board Hero you Know!
Board Hero Nominations

Boardmember Merch Store!

Connect with Hosts on LinkedIn

Julie Adamen

Kevin Davis, CIRMS

Robert Nordlund, PE

Support Our Sponsors

Association Insights & Marketplace

Association Reserves

Community Financials

Kevin Davis Insurance Services

Stoke Light Video & Marketing

The Inspectors of Election