Throwing away money every month

This is the screenshot from May 2022 financials posted on the HOA's website.


While it's hard to read here, you can see the original on the HOA's website. Go to RESIDENTS, DOCUMENTS, Financial Operating Results, May 2022 (June is not posted yet), scroll down to Page 2.

You'll quickly see the extremely low interest rates posted for three accounts, and you'll see NO interest rates posted for six accounts. 

Check out these interest rates available today:   https://www.nerdwallet.com/rates/banking/cd-accounts?deposit_minimum=100000&length_of_term=1080&min_ratings=4&trk_app=landing-page-client

Why is the HOA throwing money away every month on interest rates of less than 1%?

What should YOU do? Contact President Justin Martin and Treasurer Vernell Butler and demand to know why they aren't paying closer attention. Demand that they come up with a recommendation to the Board to obtain the highest-possible, safe return on cash money. Insist that they vote to achieve higher interest rates and that they, through the proper Banking Resolution, authorize the officers to act. Then follow up and make sure they do.

Also, ask why interest rates are not reported for six accounts? Do any of the board members actually examine the financials from CAMS every month? Do they understand what they are looking at?

At the July board meeting (July 12, 2022) the Treasurer reported "Finances are healthy." Are they? No, they aren't! How will the HOA compensate for 8% inflation this year?

Show up at the August 2, 2022 board meeting and ask some hard questions. And get the answers!

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