HOA Treasurer Duties

A homeowners association (HOA) treasurer is the board officer who keeps the association’s financial records, pays its bills and reports its finances to the board and the owners. Three layers of rules set those duties:

• The declaration and bylaws, which name the office and list its tasks.
• The state’s corporation law, which requires an incorporated association to have a treasurer or a chief financial officer.
• The state’s HOA or condominium act, which adds rules on budgets, reports, records and payments.

Each layer exists to protect money that the board holds but does not own. This guide covers HOA treasurer responsibilities as California, Florida and Texas statutes set them.

A table later compares 15 states. Condo associations have their own statutes, and the condo ownership guide explains the ownership basics.

On this page

What are the four duties of a treasurer?

The treasurer’s four core duties are keeping financial records, handling payments and delinquencies, preparing the annual budget, and reporting to the board and owners. Each duty rests on a statute in at least one state, and the sections below cite them.

California’s Corporations Code Section 7213 sets the baseline for an incorporated association. The corporation must have a treasurer or a chief financial officer. When the association’s own rules name no chief financial officer, the treasurer fills that role.

On owner accounts, Texas Property Code Section 209.0063 fixes the order in which an association applies money it receives. Delinquent assessments come first, then current assessments. Attorney’s fees and collection costs tied to assessments follow, then other attorney’s fees, fines and any other amount owed.

Under Texas Section 209.0062, an association with more than 14 lots must adopt payment plan guidelines, and any plan it offers must run at least three months. On budgeting, Florida’s HOA act requires an annual budget with estimated revenues, estimated expenses and the estimated surplus or deficit at year end.

Does a treasurer handle money?

Yes, through oversight of HOA dues, invoices and payments. Section 720.303(13) of Florida’s Chapter 720 bars an association and its officers from paying association expenses with a debit card issued in the association’s name.

Section 720.3033(5) also requires insurance or a fidelity bond for every person who controls or disburses association funds. The statute names the treasurer in that group.

HOA treasurer report template

No Florida statute prescribes one layout for a treasurer’s report. Florida’s Section 720.303(7) instead sets how much accounting work the year-end financial report needs. The level runs from a cash receipts and expenditures report up to compiled, reviewed or audited financial statements, based on total revenue.

Total annual revenue	Level required	Source
Under $150,000	Cash receipts and expenditures	Fla. Stat. 720.303(7)
$150,000 to under $300,000	Compiled	Fla. Stat. 720.303(7)
$300,000 to under $500,000	Reviewed	Fla. Stat. 720.303(7)
$500,000 or more, or 1,000 or more parcels	Audited	Fla. Stat. 720.303(7)

Under Section 720.303(7), the association must finish the work within 90 days after the fiscal year ends, or contract with a third party to do it. Each member then gets a copy, or a written notice that a free copy is available on request.

Under the same Section 720.303(7), the copy or notice goes out within 21 days after completion and no later than 120 days after year end. A petition from 20 percent of parcel owners for a higher level requires a members’ meeting within 30 days to vote on it.

The smallest tier also works as a template for a monthly summary. Florida’s cash receipts version lists receipts by account and expenses by classification. The classifications include security, professional and management fees, taxes, insurance, utilities, lawn care, building maintenance and reserves.

A workable monthly summary follows the same classifications and adds three lines:

• Income by account, such as dues and special assessments.
• Expenses by classification, matched to invoices and the approved budget.
• Reserve balance, late accounts and the variance from budget.

Key fiduciary duties

A treasurer’s key obligations to the members are to handle the association’s money for their benefit and to avoid personal gain from it. Florida’s Section 720.303(1) says officers and directors are subject to Section 617.0830 and have a fiduciary relationship to the members.

Section 720.3033(3) also bars any officer, director or manager from accepting a kickback. A knowing violation is a third-degree felony. Fiduciary duties for directors cover the wider board standard.

Does a treasurer have to be a board member?

No statute cited on this page requires a treasurer to be a board member. California’s Section 7213 says the board chooses the officers, who serve at the board’s pleasure unless the association’s own rules say otherwise. One person may hold several offices unless those rules forbid it.

The section does not say the treasurer must sit on the board. The association’s rules settle the question, and a licensed attorney in the state can confirm how they apply.

What degree do you need to be a treasurer?

No statute cited on this page sets a degree or license for the office. Any qualification comes from the association’s rules. An association that wants accounting skill can hire an accountant or a management company for the bookkeeping and tax filings.

A board officer then keeps the title and the review. The HOA board seat guide lists the other seats.

Board terms and reserve rules differ by state, and both shape the treasurer’s calendar. The table compares what each statute sets in the 15 states checked.

State	Board term cap, HOA	Board term cap, condo	Reserve study	Term source
Arizona	No cap set	Same	No statute found	Statute
California	4 years	Same	Required; redone at least every 3 years	Statute
Colorado	No cap set	Same	Not required; policy must be disclosed	Statute
Florida	No cap set	8 years	HOA: not required; condo: every 10 years for buildings of 3 or more stories	Condo statute
Georgia	No cap set	Same	No statute found	Not addressed by statute
Illinois	4 years	2 years	Not required; condo budgets must fund reserves	HOA; condo
Maryland	No cap set	No cap set	Condos: every 5 years; HOAs in two counties	HOA; condo
North Carolina	No cap set	Same	Not required	Statute
New Jersey	4 years (50 or more units)	Same	Required; every 5 years	Statute
Nevada	3 years	Same	Required; at least every 5 years	Statute
Ohio	None; staggered terms required	None; staggered terms required	No study required; budget must include reserves unless owners waive	HOA; condo
South Carolina	5 years	No cap set	No statute found	HOA; condo
Texas	No cap set	Same	Not required	Not addressed by statute
Virginia	No cap set	Same	Required; at least every 5 years	Statute
Washington	No cap set	Same	Required; updated at least every 3 years	Statute

What makes a good treasurer?

No statute lists personality traits. Florida’s Chapter 720 sets a legal standard instead and treats officers and directors as fiduciaries of the members. Three habits follow from that standard.

The treasurer matches each expense to an invoice and a budget line, keeps the accounts current each month, and questions any figure with no document behind it. A treasurer who reads the reserve schedule each year also knows which repairs are coming before the board votes on the next budget.

The HOA board member responsibilities guide lists the wider responsibilities that decisions like these belong to. More board topics are in the governance hub.

Can HOA board members be held liable in Florida?

Chapter 720 of the Florida Statutes subjects officers and directors to Section 617.0830, the same provision cited above. Whether a particular director is liable depends on the facts. A licensed attorney in Florida can confirm how the statute applies to a specific case.

Do HOA treasurers get paid?

In Florida, generally not. Section 720.303(12) says a director, officer or committee member may not directly receive salary or compensation from the association for that work. The same person may not otherwise benefit financially from the service.

The statute lists exceptions, including a fee authorized in the governing documents and one authorized in advance by a majority vote of the voting interests.

California’s Section 7213 leaves room for a paid arrangement by making officers subject to any contract of employment they hold. The financial work itself can be paid separately. An association can pay a management company or an outside accountant to process bills while the volunteer treasurer reviews the results.

Whatever the pay, the review covers reserve funding. Florida’s Chapter 720 lets an association budget for reserve accounts for capital expenditures and deferred maintenance.

Some budgets do not fully fund reserves for capital improvements the association maintains. In that case, Section 720.303(6) requires a conspicuous statement in the year-end financial report that owners may face special assessments.

Who is higher, treasurer or secretary?

Neither outranks the other in California’s Section 7213. The section gives the president, or the board chair where there is no president, the role of chief executive unless the association’s own rules say otherwise.

It lists the secretary and treasurer as separate offices. The HOA president’s duties and HOA secretary’s duties pages cover the neighboring seats.

Treasurer checklist for the fiscal year

• ☐ Read the declaration and the governing documents for the treasurer’s listed tasks and spending limits.
• ☐ Confirm the state’s financial report level and its due dates.
• ☐ Match each expense to an approved budget line before money leaves the account, and log it.
• ☐ Apply each owner’s money in the order the statute or the association’s rules set.
• ☐ Check that insurance or a fidelity bond covers everyone who handles funds.
• ☐ Review maintenance, utilities and vendor contracts before the directors sign them.

Educational information, not legal advice. See the disclaimer.