Download treasurer workbook (.xlsx) · Treasurer software guide · Start KindHOA
Monthly checklist (8 items)
- Post owner payments and lock the period you share with the board.
- Pay approved invoices — California reserve withdrawals need two signatures under Civ. Code §5510 (two directors or one director plus one non-director officer); reserve spending only for repair, restoration, replacement, or maintenance of the funded components (or related litigation).
- Reconcile operating (and reserve) accounts to the bank statement.
- Review delinquency aging; send notices per policy.
- California: Civ. Code §5500 monthly review (a) operating account reconciliation; (b) reserve account reconciliation; (c) actual revenues and expenses vs the current budget; (d) the latest bank statements; (e) the income and expense statement for operating and reserve accounts; (f) the check register, monthly general ledger, and delinquent assessment receivables report. Stricter governing documents control. Good practice everywhere.
- Save bank statements and treasurer report PDF in
Finance / YYYY-MM. - Deliver treasurer report in the board packet.
- Note variances vs budget — use the budget estimator when reforecasting.
Quarterly checklist
- Review reserve balances vs study — reserve basics.
- Confirm insurance certificates and vendor W-9s on file.
- Spot-check late-fee math — how HOA late fees work.
Annual calendar
| When | Task |
|---|---|
| Budget season | Adopt next-year budget; publish summary to owners. |
| Jan 31 | 1099-NEC for qualifying vendor payments ($2,000 threshold for payments after 12/31/2025 per IRS — confirm on irs.gov). |
| Apr 15 (typical) | Form 1120-H due the 15th day of the 4th month after year-end — CPA files. |
| Within 90 days of FY end (FL) | Financial report per §720.303(7) thresholds (cash / compiled / reviewed / audited). |
| Reserve study cycle | Update or commission per policy. |
1120-H worked example (CPA review required)
60-home association, $4,200 taxable reserve interest, no other taxable income:
- Exempt-function test: confirm 60%/90% with your CPA.
- Taxable income: ($4,200 − $100 statutory deduction) × 30% = $1,230 federal income tax estimate.
- Reserve interest is commonly taxable on 1120-H — KindHOA worksheets help your CPA; we do not file.
One-page treasurer report template
Month: __________
Operating balance: $__________ · Reserve balance: $__________
Collections: $__________ · Disbursements: $__________
Delinquent units: ___ · Notes: __________
Prepared by: __________ · Reviewed by board: __________
Handoff checklist (new treasurer)
- Bank signers and online banking tokens
- Stripe / payment portal admin access
- EIN letter and prior 1120-H
- Vendor W-9 folder
- Passwords via board — not personal text threads
- Import roster using workbook columns:
full_name, email, phone, address, city, state, zip, lot— then open balances in KindHOA Finance
Workbook download
The HOA treasurer workbook includes Ledger, Roster (matches neighbor import columns plus an optional balance_due helper column), Monthly_recon, and Monthly_report tabs. Use it until you are ready, then import.
FAQ
Cash or accrual for a small HOA?
Many volunteer treasurers start cash-basis for clarity; your CPA may require accrual at higher complexity — ask before year-end.
Can Florida HOAs use debit cards?
No — Fla. Stat. §720.303(13) prohibits association debit cards. Use checks or controlled ACH with board policy.
Who signs Form 1120-H?
Typically an officer the CPA designates — confirm with your preparer. KindHOA does not sign or file.
When should we hire a CPA?
Before your first 1120-H, when Florida’s reporting threshold triggers compiled/reviewed/audited reports, or when owners question fund balances.
How long keep treasurer records?
Follow Florida seven-year rule where applicable; otherwise document-retention policy and counsel.
What if I am the only signer?
Add a second signer before turnover — single-signer HOAs are a handoff risk.
Related reading
Educational only — not tax or legal advice.