Unless the governing documents impose more stringent standards, the board shall do all of the following: (a) Review, on a monthly basis, a current reconciliation of the associationâs operating accounts. (b) Review, on a monthly basis, a current reconciliation of the associationâs reserve accounts. (c) Review, on a monthly basis, the current yearâs actual operating revenues and expenses compared to the current yearâs budget. (d) Review, on a monthly basis, the latest account statements prepared by the financial institutions where the association has its operating and reserve accounts. (e) Review, on a monthly basis, an income and expense statement for the associationâs operating and reserve accounts. (f) Review, on a monthly basis, the check register, monthly general ledger, and delinquent assessment receivable reports.
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