In Nevada, who is responsible for overseeing the community financials?

In Nevada, the board of directors of a community is responsible for overseeing the community financials. This responsibility includes managing the budget, approving expenditures, and ensuring that the community's funds are being used appropriately and in the best interest of the homeowners.

The board is typically composed of homeowners elected by their peers within the community, thus ensuring that the financial decisions reflect the interests of the community members. They are tasked with fiduciary duties, meaning they have to manage the community’s finances responsibly, transparently, and in compliance with relevant laws and regulations.

The property management company can assist in managing the financial aspects and may handle day-to-day operations related to finances, but ultimate oversight and decision-making authority rests with the board of directors. State government involvement typically occurs in regulatory oversight rather than direct management of community finances, and each homeowner does not have individual responsibility in managing the entire community's financials.