It isn't outrageous for people to require that their homeowners'/property owners'/condo owners' association proves how it spends its money, at least once a year if not quarterly. The HOA has to keep records, for the (somewhat minimal) tax reporting to the IRS, so why can't it provide information to its members? All association agreements should insure transparency for how the dues are spent and the bills paid.
They clearly mishandled the money and left over 100 people living on the street. Some of these people owned their condo and had paid for it it full, but were not allowed to live their because they did not have electricity or gas. This is a rediculous situations and should not have happened.
How did utility bill get so high? Are individual landlords liable? The drama at Lynnhill Condominiums in Temple Hills has been building for years; the complex has a history of code violations that stretches back into the late 1990s. The complex filed for bankruptcy protection in 2010. More recently, the condo association alleged that a past management company was misusing residents' condo fees.
Requiring condo associations to file financial statements like public corporation is going to far and places undue burdens on smaller associations that are run well and openly. The Maryland case is an extreme case of dishonesty and mismanagement and should not be used to impose undue filing requirements on all associations. Condo owners should establish adequate oversight that is appropriate to their situations without the need for the government to impose more filing requirements.