The Central Park Owners Association Board causes an annual external audited financial statement (including a balance sheet and income and expense statement) to be prepared by an independent, certified public accountant.  It reflects the financial condition of the association at the end of the accounting period and summarizes the financial transactions in which the association was involved.  When completed, it is made available to owners. 

Working in collaboration with the exclusive managing agent of the Central Park Owners Association, the Board also causes the preparation of an annual pro-forma operating statement (budget) for the following fiscal year.  A copy is distributed to owners not less than 30 days prior to the beginning of the new fiscal year. 

Recent Central Park boards have gone far beyond the financial reporting required by law or the association’s declaration of ownership estates.  They have routinely provided financial updates in professionally prepared power-point presentations at open owner’s meetings, typically held every other month.  The updates are detailed and reflect how revenue and expenses have varied up or down from the pro forma budget.  Many of the owner’s open meetings are available for live streaming to their own personal devices wherever they may be. 

Monthly financial summaries are also archived and available on the association’s website and private- members only Facebook Page.  Additional financial information is accessible by submitting a Request for Inspection of Corporate Records and Documents.  The form is available in the Document Section of the Central Park Portal.

Every prospective new owner in encouraged to do their own due diligence in verifying that Central Park’s financial reporting methods are adequate to meet their personal needs.