RCW 64.90.475
Accounts and records—Reconciliation.
(1) The association must establish and maintain its accounts and records in a manner that will enable it to credit assessments for common expenses and specially allocated expenses, including allocations to reserves, and other income to the association, and to charge expenditures, to the account of the appropriate units in accordance with the provisions of the declaration.
(2) To assure that the unit owners are correctly assessed for the actual expenses of the association, the accounts of the association must be reconciled at least annually unless the board determines that a reconciliation would not result in a material savings to any unit owner. Unless provided otherwise in the declaration, any surplus funds of the association remaining after the payment of or provision for common expenses and any prepayment of reserves must be paid annually to the unit owners in proportion to their common expense liabilities or credited to them to reduce their future common expense assessments.
[ 2018 c 277 § 316.]
Structure Revised Code of Washington
Title 64 - Real Property and Conveyances
Chapter 64.90 - Washington Uniform Common Interest Ownership Act.
64.90.015 - No variation by agreement.
64.90.020 - Separate titles and taxation.
64.90.025 - Applicability of local ordinances, regulations, and building codes.
64.90.035 - Supplemental general principles of law applicable.
64.90.040 - Construction against implicit repeal.
64.90.045 - Application—Construction.
64.90.050 - Unconscionable agreement or term of contract.
64.90.055 - Obligation of good faith.
64.90.065 - Adjustment of dollar amounts.
64.90.070 - Electronic signatures in global and national commerce act.
64.90.075 - Common interest communities, new.
64.90.080 - Common interest communities, preexisting.
64.90.085 - Common interest communities, amendments to.
64.90.090 - Prior condominium statutes.
64.90.095 - Election of preexisting common interest communities.
64.90.100 - Common interest communities, nonresidential and mixed-use.
64.90.105 - Common interest communities, out-of-state.
64.90.110 - Exempt real estate arrangements.
64.90.115 - Other exempt covenants.
64.90.200 - Common interest communities, creation of.
64.90.205 - Reservation of name.
64.90.215 - Construction and validity of governing documents.
64.90.220 - Description of units.
64.90.225 - Declaration—Contents.
64.90.230 - Leasehold common interest communities.
64.90.235 - Allocated interests.
64.90.240 - Limited common elements.
64.90.245 - Maps—Exception—Amendments—Requirements—Recording.
64.90.250 - Development rights.
64.90.255 - Common elements and units—Alterations.
64.90.260 - Unit boundaries—Relocation.
64.90.265 - Subdivision and combination of units.
64.90.270 - Monuments as boundaries.
64.90.285 - Amendment of declaration.
64.90.295 - Rights of secured lenders.
64.90.300 - Master association.
64.90.305 - Delegation of power to subassociations.
64.90.310 - Merger or consolidation.
64.90.315 - Addition of unspecified real estate.
64.90.320 - Large scale communities.
64.90.325 - Judicial termination.
64.90.400 - Unit owners association—Organization.
64.90.405 - Powers and duties.
64.90.410 - Board members, officers, and committees.
64.90.415 - Period of declarant control—Transition.
64.90.420 - Transfer of association property.
64.90.425 - Transfer of special declarant rights.
64.90.430 - Contracts and leases—Termination.
64.90.435 - Organizational documents.
64.90.440 - Maintenance, repair, replacement—Liability of unit owner—Inspection.
64.90.455 - Unit owner voting.
64.90.460 - Liability—Tolling.
64.90.465 - Conveyance or encumbrance of common elements.
64.90.475 - Accounts and records—Reconciliation.
64.90.480 - Assessments and capital contributions.
64.90.485 - Liens—Enforcement—Notice of delinquency.
64.90.495 - Association records.
64.90.500 - Association as trustee.
64.90.513 - Electric vehicle charging stations.
64.90.520 - Officers and board members—Removal.
64.90.525 - Budgets—Assessments—Special assessments.
64.90.530 - Financial statements—Association funds.
64.90.540 - Reserve account—Withdrawals.
64.90.550 - Reserve study—Contents.
64.90.555 - Reserve study—Demand—Enforcement.
64.90.560 - Reserve account—Reserve study—Reserve disclosure—Liability.
64.90.600 - Applicability—Waiver.
64.90.605 - Public offering statement—Liability.
64.90.610 - Public offering statement—General provisions—Notice.
64.90.615 - Public offering statement—Common interest communities subject to development rights.
64.90.620 - Public offering statement—Conversion buildings.
64.90.625 - Public offering statement—Disclosure document.
64.90.630 - Public offering statement—Contract of sale—Conveyance restriction.
64.90.635 - Purchaser's right to cancel.
64.90.640 - Unit resales—Resale certificate.
64.90.655 - Conversion buildings—Tenant rights—City and county requirements—Violations.
64.90.660 - Conversion buildings—Common interest community units—Report.
64.90.665 - Express warranties.
64.90.670 - Implied warranties of quality.
64.90.675 - Implied warranties of quality—Exclusion or modification.
64.90.680 - Warranties of quality—Breach—Actions for construction defect claims.
64.90.690 - Promotional material—Labeling requirement.
64.90.695 - Improvements—Duties of declarant.