Definition
A financial statement showing an HOA's assets, liabilities, and equity at a point in time — a snapshot of its financial position.
The balance sheet is a snapshot of the association's financial position on a given date. It lists what the HOA owns (assets, including operating and reserve cash), what it owes (liabilities), and the difference (equity or fund balances).
Reviewing the balance sheet tells the board whether reserves are where they should be, how much cash is on hand, and whether obligations are piling up. It's one of the core reports a treasurer should present regularly.