Interim Financial Statements
Adams Stirling PLC


In addition to annual financial statements, boards normally receive unaudited financial statements quarterly or monthly at their board meetings. They are often generated by the association's management company and may be prepared using accrual or modified accrual accounting. (Civ. Code §5200(a)(3).) Interim statements normally contain the following records:

Board Duty to Review. Boards have a duty to review their association's financial records as prescribed by statute. See also, approving unaudited statements.

Membership Review
. Boards should routinely include financial reports or at a minimum a summary "Treasurer's Report" in their minutes and then post them for membership review. If the association has a website, the minutes and financial reports should be displayed in a members-only portion of the website. Any private information in the reports must be redacted.

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Adams Stirling PLC