Barony Place I/Barony Place II

The bid to perform the 2024 Annual Audit was approved by the Board on October 7, 2025. The bid was $7,039, about $3,000 higher than the previous year's fee by a different, local auditor. The 2024 Annual Audit was completed and dated February 4, 2026 (the day after the February 2026 Board Meeting). The 2024 Annual Audit was received on or before February 24, 2026, according to the Town & Country Property Manager's Report included with the Minutes of the March 3, 2026 Board Meeting. Why didn't the Board Treasurer mention receipt of the 2024 Annual Audit at the March 3, 2026 Board Meeting? The HOA's procedures for the Annual Audit are found in the Procedures Reference Manual (Art. III, §C,  ¶2a-j). The Annual Audit was due by August 31, 2025 (¶2c), but it hadn't even been ordered yet from L. Douglas Johnson, CPA yet. Why not? Danny Trapp was Board President. William Hill was Board Treasurer. CAMS was the property management company. Why wasn't the 2024 Annual...

It's way past time for the Board of Directors (the majority; i.e. the four officers) to stop being nice. It's time to address the elephant in the room. It's time for a "State of the HOA" address by the President of the HOA. This should be in-person and on ZOOM, so that many Members (homeowners) can view it. It should be recorded and archived on the HOA's website. The HOA is a business. It is a South Carolina non-profit corporation. It has Covenants and By-Laws. It has published Guidelines for conducting business. It is a corporation, not a charity or an after-school club. Where did $445,000 go between 1/31/2025 and 1/31/2026? What's the whole story behind the $126,352 annuity purchased in 2024, and who is the Annuitant? Ninety percent (90%) of Accounts Receivable may be uncollectible, according to the 2024 Annual Audit. How bad is the current status of Reserves? Th Indigo Dam repair is likely to impact remaining Reserves severely. The HOA may have to incre...

The just-released 2024 Annual Audit must be giving heartburn to at least some of the Directors of the HOA. The "new" Board majority (since November 18, 2025) must be outraged by the mess in which it finds itself. If they don't step up and tell the truth, they could find themselves embroiled in the mess and, quite likely, cupable and liable. The situation with the annuity is worse than I thought. From the monthly financials released for October 2025 and December 2025, I made an assumption that the annuity had been purchased by the HOA late in 2025. Now I know that I was wrong. From the 2024 Annual Audit, just published on the HOA's website, it is now clear that the annuity was purchased in 2024, not in 2025! The Auditor, L. Douglas Johnson, CPA, had this to say about the annuity: "Note 8. Cash Surrender Value of Annuity   "The Association purchased a single premium deferred annuity (SPDA) in 2024 for a lump-sum payment of $126,352.  The SPDA earns a fixed i...

The 2024 Annual Audit has finally been posted. To view it, go to the HOA's website: www.summithomeowners.com Hover over RESIDENTS, then click on DOCUMENTS. Click on Annual Audits . Click on 2024 . It was due by August 31, 2025, but work by the CPA in Greensboro, N.C. wasn't even approved by the (old) Board until October 7, 2025. Very important information is in the 2024 Annual Audit about the annuity purchased by the HOA. According to the CPA, the annuity was actually purchased in 2024, not in 2025.  More information to follow about the annuity AND the declining financial situation in 2024, which is the year of the audit.  Members don't really know what the financial condition of the HOA is. What does the Board know that Members don't know? The Reserve situation declined through 2025 and now, in 2026, is about to worsen. The best thing the "new" Board can do is be totally honest with the Members. The "old" Boards brought the current situation on by...

This afternoon the office emailed most Members and some residents about the rising costs of vandalism. Unfortunately, no details were provided. Why didn't the message give even one example of vandalism or a few? Why no examples of cost of damage? How effective have the cameras been, after the HOA spent thousands of dollars on them? Plus no one on the Board took responsibility for the announcement by including the name of the officer or director responsible for the message. The Budget is already so tight that it doesn't even squeak. There is no wiggle room for increased expenses. Most budgets provide a little "grease" for unexpected expenses. Not the HOA's 2026 Proposed Budget. I have previously expressed my opinion that the $50.00 annual increase in the 2026 Assessment was insufficient. It wasn't enough, but it was just under the 10% increase that the Board could levy without Voting Member approval. Today's message warns of "increased assessments or a...

Was there a pre-board meeting on March 31st? Pre-board meetings (workshops) are usually held one week prior to the monthly Board Meeting. There should be Minutes of that meeting (and all other pre-board meetings). Good luck in ever getting to see them! Will there be a monthly Board Meeting on the first Tuesday of April, which is April 7th? If so, where will it be held? Will it be held at the North Springs Park Community Center? Somewhere else? Will it be open to Members and residents? To what degree of Transparency are Members entitled? Are they entitled to know what the Board of Directors is doing on their behalf? The Directors are stewards of the Members' money. Speaking of money, what do the left-overs of Team Danny have to say about the $445,000+ drop in Cash between 1/31/25 and 1/31/26? The Treasurers (LaToya Adams, William Hill, and Linda Potter) should know exactly where that money went! Will they just hum a verse of "Don't Worry, Be Happy"? And what do they ha...