HOA Budget vs. Reality: Late Fees, SNAPP, and Governance Failure at the Former John Hancock Center

This article examines how late-fee enforcement at 175 East Delaware Place HOA diverged sharply from its adopted budget and governing documents. Despite budgeting $32,000 in late-fee income, the association collected only $750 in four months -- while issuing credits that exceeded charges. The analysis explores unauthorized practices tied to a payment platform, breakdowns in internal controls, fiduciary risk for the board, and what owners and buyers should demand to restore accountability.