April is National Volunteer Month, an excellent time to celebrate the volunteers that help community associations thrive. Fiduciary duty is a critical component of successful volunteer leadership. It governs every decision and every action a board takes.
Things have stabilized at the Hammocks Community Association near Miami more than three years after local prosecutors began filing criminal charges against previous board members for allegedly defrauding owners of more than $2 million in a financial fraud scheme. Every instance of financial fraud serves as a reminder, professionals say, of the importance of owner vigilance and the need for safeguards and controls.
