Governance Failure: How Treasurer Inaction Forced Revocation of Authority & Threatened Services
Date: Dec 31, 2023 Category: Association Governance / Financial Transparency Summary Effective HOA governance relies on the timely payment of vendors who maintain our community. In late 2023, a significant lapse in financial administration occurred when Radius at Whisman Station HOA in Mountain View CA Board Treasurer Patrick Szeto failed to release payments for essential services for over 100 days. This inaction persisted despite explicit warnings from vendors regarding interest charges and confirmation from management that such delays were a recurring issue causing the Association to incur late fees. Consequently, the management company was forced to intervene by revoking Director Patrick Szeto’s invoice-approving authority. The Fiduciary Duty of the Treasurer Under the Davis-Stirling Act and our governing documents, Board officers—particularly the Treasurer—have a fiduciary duty to act with the care o...