Dear Owners,

A very worried homeowner received below email upon inquiring about misrepresentations in the financial statements provided by the Board.

The board has hired lawyers to defend them against complaints of accounting discrepancies.

It seems that the Board is failing to properly account for income and expenses as required by generally accepted accounting principles.

Illinois Condominium Act requires Association to prepare their financial statements in accordance with generally accepted accounting principles.

When can homeowners expect financial statements to be corrected?

Why there has been no audit for last 3 years?

What is that the Board is trying to hide from homeowners?

If you purchased your condo in last 3 years, you may be entitled to compensation. Contact your attorney and let them know you were provided false accounting.

Naper Place News