Ceasar Larrach worked as a general manager for Associa managing Sun City Shadow Hills HOA, a 3,450 unit community association for people 55 and older. Managers dipping into association money is nothing new. We have reported on numerous instances. The only reason this HOA found the theft was that Associa had discovered a “financial discrepancy in the HOA’s accounts connected to Larrach of at least $100,000. Click here for more on the story.
The trouble is that may association board member have no access to there own records. They lack their own framework for their own association. Instead they rely on management which does not have adequate framework or framework like giant Associa which was not adequate to protect against embezzlement by its managers until after the fact when the money was long gone.
Community associations need their own independent framework for their own documents, emails, governance, etc. that the association controls. Office of the Board is that easy-to-use framework which intelligently protects associations, their boards and owners. With Office of the Board in place, thefts like Larrach do not happen and associations can keep an eye on their own financial records and not depend on third parties to stumble upon thefts after the fact.