Homeowners still waiting for 2022 Annual Audit

The 2022 Annual Audit still has not been posted to the HOA's website!

The Audit was presented publicly to the board at the June 6th monthly board meeting. What is the delay? Of what is the board afraid?

The board members probably received a copy of the Audit before the June 6th meeting. At least, they should have. Then they could have studied the audit and been prepared to ask questions on June 6th.

Is there anyone smart enough on the board to understand the Audit? Is there anyone brave enough to ask important questions in public? Apparently not.

A request was put to the board prior to the July 25th pre-board meeting to discuss the delay and direct the CAMS property manager to post the Annual Audit without further delay.

Obviously the board doesn't consider anything that I might have to say as worthwhile, but a smart board would have posted the 2022 Annual Audit by now.

The longer the delay, the more suspicion centers around the Audit. Exactly what did Becca Brendle, CPA, put in the Annual Audit and, more importantly, what did she put in her Management Report that accompanied the Audit?

Board members have a fiduciary responsibility to the Members of the nonprofit corporation that operates the HOA. There are South Carolina State laws that protect the Members (that's you, the homeowners) of the corporation.

The S.C. Attorney General does not, as a rule, investigate HOAs. BUT S.C. Code of Laws 33-31-171 does allow the A.G. to investigate S.C. nonprofit corporations, which The Summit Community Association, Inc. is.

SECTION 33-31-171. Investigation by Attorney General authorized.

The Attorney General, or any of his assistants or representatives when authorized by the Attorney General, may make investigations into the organization, conduct, and management of a nonprofit corporation, domestic or foreign, operating in this State. Every such corporation shall permit the Attorney General or any of his authorized assistants or representatives to examine and take copies of all its books, accounts, records, minutes, letters, memoranda, documents, checks, vouchers, telegrams, articles, bylaws, and any and all other records of any such corporation as often as the Attorney General may deem it necessary to show or tend to show that the corporation has been, or is, engaged in acts or conduct in violation of its charter rights and privileges or in violation of any law of this State.

What would the A.G. uncover, if an investigation started?

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