Net Income in Townhouse ociation?

It's not all that unusual for the operating account to sometimes show negative income, but it IS bad if your reserve account is also under-funded. Being under-funded is so dangerous. There should be a reserve account that has funds for things like street lights, painting fences, landscaping, sealing the roads every few years (these items vary by community). The people who run your HOA probably don't want to be the "bad guys" and raise fees. In the long run this is going to hurt them. Ask if they have a current Reserve Study. This is a packet that will explain how much money you should expect to have to cover future expenditures (ex: 2012 replace pool furniture $8,000). It should have lots of charts; one will tell you how under-funded you are. If you are only talking about the operating account its possible the HOA had a large expense this month and just hasn’t taken money from the reserve account yet.