[co] Management Company Claims "no Invoices Exist" For $40k+ In Utility & Insurance Payments. What Are My Next Legal Steps?

Location: Aurora, Colorado

I’m a homeowner in a Colorado HOA and I’ve run into a brick wall with our management company. I’m hoping for some legal perspective or advice from anyone who has dealt with "missing" and discrepancy in provided records in CO

I requested an inspection of records under C.R.S. § 38-33.3-317 (CCIOA). The management company initially sent some PDFs, but they are missing invoices for the exact months I requested. First claiming that all invoices requested had been provided, then backtracking and stating that if the requested invoices were not in current PDFs that they "did not exist."

The Few statements that the HOA management company DID provide show huge payments being made (in the financials), but there are no matching invoices.

• Water/Sewer Discrepancy: July/August financials show ~$8,100 paid, but the invoices provided only total ~$3,000. Where is the other $5,100 going?
• Insurance Mystery: May/June financials show $20,000 monthly payment, but the only insurance invoice provided shows a monthly premium of $8,729.00 for that month.

Under Colorado law, they are required to maintain "detailed records of receipts and expenditures."

1. Is this considered a "refusal to provide records" if they claim they simply don't have them?
2. Are there statutory penalties in Colorado for failing to maintain these records? (I believe there's a $50/day penalty for late production, but does that apply if they claim they don't exist?)
3. Should I be pushing for a forensic audit or going straight to a demand letter from a lawyer?

I have cited the CCIOA to them already, and they just keep repeating that they "sent what they have." Any advice on how to handle an evasive management company in Colorado would be greatly appreciated.