1.
|
Read the yearly audited financial statements and keep your copies so you can refer to them later.
|
2.
|
Attend all owner meetings and ask the auditor to explain anything that you do not understand.
|
3.
|
Ask to read the current and the previous Reserve Fund Studies. Look for any changes that don't seem right.
|
4.
|
Examine the current utility bills to see if they are being paid in full and on time.
|
5.
|
Ask to look at the monthly cancelled cheques and compare them to the invoices. See if they match.
|
6.
|
If you are not allowed to
examine the corporation's records, or if outrageous fees are demanded
before you can see them, then be very suspicious that the board is
trying to hide something.
|
7.
|
If there are major expenses being spent but there is no sign of much work being done, then something is wrong.
|
8.
|
Start a requisition for a special owners meeting to remove the directors.
|