Posts

Showing posts from April, 2023

Why Interest Rates are so low

This week I heard an explanation for why the interest rates earned on a large amount of HOA Reserves are so low. Could it possibly be correct? The reason given me was that CAMS has told the HOA's Board of Directors which bank or banks it wants our money in.  A s of February 28, 2023, t he HOA has $424,295 sitting in Operating Account 3355. And $170,588 sitting in Operating Account 9113. And $245,692 in Operating Account 9621. No interest earnings are disclosed for those three Operating Accounts, two of which are at CIT (whatever that is) and the third is at NSB (whatever that is). Then there are the Reserves. $232,048 at 0.01%. $104,728 at 0.55%. $109,069 at 0.35%. $238,585 at 0.75%. And other amounts are somewhat higher rates of interest. Is this malfeasance on the part of the Board of Directors? These are HOA dollars, not CAMS dollars. Is CAMS really controlling where the HOA puts its money? Should most of the members of the Board of Directors be removed for this fiscal irrespons

HOA Office closing early on Friday (May 26)

The Summit HOA office will close early on Friday, May 26, for the Memorial Day week-end. A notice was sent out today, April 27, about this closing. 1. Why was the notice sent out a month ahead of time? 2. Why is the office closing early on Friday? It's a workday. 3. Has the Board of Directors told CAMS what the office hours will be? Or does CAMS decide what its hours will be and then tell the HOA? 4. Why was the closure sent as an attachment and not merely as an email? 5. Was the copy I saw the only copy with the message rotated 90º out of normal reading view? 6. Pools open May 6th. How many homeowners and residents will be denied pool use on the holiday week-end, due to the office closing early on Friday and being closed on Saturday?

Financial Incompetence of Board, Finance Committee, CAMS?

What kind of financial lightweights are there on the HOA's Finance Committee, Board of Directors, and at CAMS? Why do I ask this? According to the February 28, 2023 financial statements, which are attached to the April 4, 2023 Minutes of the Board meeting, your HOA's money is hard at work - for the banks, that is; but not for the HOA! The HOA has $842,026.60 sitting in Operating Funds (cash). Operating Account #3355 at CIT: $424,295.58. Why is there nearly three months' operating expenses kept in a (checking?) account? Any interest being earned? Debit Card Account #2178 at CIT - $1,449.38. What is that debit card account? Who uses that? Who audits usage? Operating Account #9113 at CIT - $170,588.81. "MMK" What's that? Money Market? Any interest being earned? Why not disclosed? Operating Account #9621 at NSB - $245,692.83. "MMK" What's that? Money Market? Any interest being earned? Why not disclosed? What bank is "NSB"? The HOA has $1,14

How long have people been on the Board?

How long have current board members been on the HOA board? Several years ago I suggested to the board that their terms-of-office should be listed on the website. If you look on the HOA's website (www.summithomeowners.com) you can't even find the names of the Directors and Officers. You have to look in The Summit Scoop, but terms are not shown. In odd-numbered years four directors are to be elected by the Voting Members of the 28 Neighborhoods. In even-numbered years three directors are elected. In November 2022 three were elected: Vernell Butler, Dennis Rybicki, Vicki McCarthy. Vicky quit three months later. Her reason was never explained publicly, but I can tell you what it was (even though Vicki and I have never spoken). Tanisha Holmes (Whitney Falls) was appointed by the Board to succeed Vicki. In November 2021 four directors should have been elected, but President Justin Martin set it up for five to be elected. George Reynolds had died in office (April 2021), and the board

Special Assessment Possible?

How would you feel about a $3,000 Special Assessment levied by the HOA against you and every other HOA Member (homeowner)? Article X, Section 4 in the CC&Rs allows this. Are you aware of that? Should the Board do everything possible to eliminate the possibility of such a Special Assessment? What is the Board doing that might just lead directly to such an Assessment? The HOA, by actions of the President (Justin Martin), the Treasurer (Vernell Butler, and the Safety Committee Chair (Dennis Rybicki) entered into a contact with the Richland County Sheriff's Department, effective February 1, 2023. They arranged for special patrols in the Summit at a cost of $48.00/hour. In the Special Duty Agreement is a Liability clause. It reads,  "The Requestor will hold harmless the Richland County Sheriff's Department from any and all claims or liabilities resulting from service and indemnify RCSD for any loss due to any injury of its employee unless there is a determination of neglige

How many true committee members?

If you have been watching the listing of members of HOA committees, published in the Summit Scoop and on the HOA's website, you'd get the impression that participation in HOA matters is increasing. And you might just be wrong! How many of those people who are listed never go to a committee meeting? And, if they do go, how do they participate? Do they just sit there and go along, without ever expressing an opinion or getting to vote on an issue? Did the Safety Committee vote on the renewed and revised Special Duty Agreement between the HOA and the Richland County Sheriff's Department? Did the Contracts Committee or the Finance Committee review vote on the Agreement with RCSD? Did the Finance Committee vote before the 2023 Proposed Budget was submitted to the Board of Directors? Does the Modifications Committee vote on Final Approvals to Forms 201, after an inspection of the homeowner's property is made? In fact, how long does it take before an inspection is even made? In

New "deal" with RCSD

The HOA entered into a new deal with the Richland County Sheriff's Department for what they expect will be increased services. It comes with a very heavy potential cost. The Agreement contains a Liability clause that is very disadvantageous to the HOA and 2,480 homeowners. Aside from the fact that the Board never formally authorized anyone to re-negotiate the Special Duty Agreement, the Board also never authorized anyone to execute the Agreement. Vernell signed it, but Justin didn't. Before tonight's board meeting I wrote to the Safety Committee Chairman, with copies to the board, the HOA's attorney, and members of the Safety and Contracts Committees. Here is my message: Good afternoon, Dennis, At tonight's board meeting will you please apprise the Board of the enormous risk and unlimited financial exposure the HOA faces in the Special Duty Agreement with the Richland County Sheriff's Department that became effective on February 1, 2023? I strongly urge the boar

Ever Submit a Form 201?

Have you ever submitted a Form 201 to the HOA before you commenced a repair or improvement on your home? Did you promptly receive a Conditional Approval? After the work was done, did you inform the HOA that the work was completed? What happened then? Anything? Do you know if the work was ever "inspected"? Did you receive a Final Approval from the Modifications Committee? In writing? How soon? If you didn't, did you request one? Did you receive it? Are you and your home sitting in limbo? If you didn't receive a Final Approval, is your home still subject to being inspected and determined not to be in compliance with those all-important rules and regulations of the HOA, known as the Governing Documents? Because you received a Conditional Approval, don't you think it would be a good idea to have a Final Approval in your legal file "just in case", years down the road, someone at the HOA claimed your home was not in compliance? Avoid a legal mess then , by obt

Nov.-Dec. Financials Published - Finally

The Summit HOA has finally published the financial statements for November 2022 and December 2022. These appeared on the HOA's website yesterday, April 6, 2022, after numerous emails to the board of directors and to the CAMS headquarters in North Carolina. Of course, no explanation for the delay has been given. If you are a homeowner, write to Vernell Butler, Treasurer at  vernellbutler88@yahoo.com  and ask him the reason for the delay. He won't tell me; I'm just a lowly resident, invisible to the board and unworthy, in their opinion, of information. If you are lucky enough to get a reply, let me know. Or ask him in public at the April monthly board meeting, which has been re-scheduled to Tuesday, April 11, 6:30PM at the Brookland Baptist Church Northeast.

Where ARE the three missing financials?

The Summit HOA Board of Directors and CAMS still have not published the financial statements for November 2022, December 2022, and 2022 year-end (12 months). I'll say that most of 2,480 homeowners don't even know they are missing. Or care. But you should care. When the HOA withholds important financial information from the Members of the HOA, the Board should be held accountable. Now, you, as a homeowner, cannot hold the Board accountable. The 28 Voting Members can. Except they don't. They themselves are not even legitimate Voting Members, because no Neighborhoods are holding Annual Neighborhood Meetings. There are no annual elections of three-person Neighborhood Committees, from which the Voting Member and two Alternates are selected. What will it take to get the Board of Directors to follow its own rules?