There was a great article on what homeowners associations are allowed to do or not do in today's LA Times...I am sharing the link here. If you are a titleholder than you should request a copy of the budget. If you are thinking about purchasing a condo, the budget will be included in your HOA documents for you to approve as a contingency of your purchase. Hope this helps!
Each HOA has to have a budget and keep track of their actual expenses vs. the budgetted amounts. Please contact your Treasure and ask them to provide this information to you, which you are entitled to receive. I always recommend to my clients who are buying a condo or townhome to get involved on the Board to know how well their association is being run.