Homeowners should demand a forensic audit

Did you read about the president of a Virginia teachers association who is charged with embezzling $410,000?

And how about people closer to home (Columbia, S.C.) who are being changed with stealing large amounts of money from their employers?

One way to prevent that (or catch it early) is to have a thorough audit by a completely independent auditor. Let's call it a "forensic" audit.

Has the Summit HOA ever had such an audit?

I suggested it after George Reynolds died in April 2021. He was the long-time treasurer of the HOA. In my opinion, whenever a long-time treasurer of a non-profit organization leaves - for any reason - the organization should have a thorough, independent audit. Keyword: independent.

In one year (2021) the HOA had three treasurers: George Reynolds, Paul Hill, and Vernell Butler.

Right there is a good reason for a thorough audit.

Then CAMS recommended a CPA who has ties to CAMS. How's that for independence?

When the auditor gave her presentation of the audit last summer, there were virtually NO questions. Seriously?

The books for 2022 should be closed now, and CAMS should publish the full-year financial results at the February 7th board meeting. The board skipped the January meeting without notice to the Members so, right now, the latest financial information available is as of October 31, 2022.

Had there been a January board meeting, the November 30, 2022 financials should have been available, and at the February board meeting, the December 31st monthly and full-year financials should be available.

Next board meeting: Tuesday, February 7, 2023, 6:30PM at Brookland Baptist Church Northesst.

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