A Glowing Financial Report - Seriously?

You won't want to miss the Minutes of the December 6, 2022 HOA board meeting!

Do you know where to find them? Go to www.summithomeowners.com. Then hover over RES,IDENTs and click on DOCUMENTS. Then click on Board of Director's Minutes. Then click on December 2022.

The first worthless report of the Finance Committee you'll come to reads "The committee researched CD rates for CD's [sic] that are maturing. The monies being spent on projects have been previously allocated."

That tells you a lot, doesn't it?

Continuing scrolling down to Page 19, "Financial Summary and Variance Report" for 10 months (through October 2022).

I've been questioning for months why the HOA has so much money in Operating Accounts. How about $634,144.53 ($64,366.46 + $1,001.34 + $323,557.66 + $245,219.07)?

No one seems to think there is any problem with earning on 0.01% on $232,038.06 in one Reserves account.

Look at Page 20 and the interest rates being earned on large amounts in Reserves accounts. Does this instill your confidence in the ability of the Finance Committee to be good stewards over your money?

Of course, the Board won't listen to me. I'm just a lowly Resident and am not recognized by the Board. 

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