How much to CAMS??? $500,000+?

Do the Members (homeowners) of the HOA really know just how much the services of CAMS are costing them? Is it over $500,000/year???

Looking at the monthly financial statements, you will easily spot Line Item 6000 - Management Fee's [sic] of $75,500, which is the amount budgeted for the year.

You will see Line Item 6005, On-Site Maintenance [sic] of $140,000, which is the budgeted expense for the year. You might wonder which "Maintenance" is costing $140,000 and why "Maintenance" is listed under Administrative Expenses, but you might be busy and blow on by that.

The problem that I have pointed out for years to the Board is that the $140,000 is not Maintenance; it is Management. This is why it is listed under Administrative Expenses. That's the amount which the HOA pays to CAMS for the compensation of the women in the office. Teresa, Kenyana, and Angela (who is not even in the office).

When I looked at the June 2023 financials that were available at the August 9, 2023 monthly board meeting (and posted on the HOA's website), $27,611.38 jumped out at me. That was paid out for  SCS Administrative Costs (Line Item 2330). What could that be for? My first thought, "Oh, probably postage and mailing of the July 1st dues notices.

Good guess? Probably not, because then I looked back through the financials, starting with January 2023.

Paid for Line 2330, "SCS Administrative Costs"

Jan. 2023 $24,128.64

Feb. 2023 $22,787.21

Mar. 2023 $29,026.38

Apr. 2023 $29,341.72

May 2023 $28,236.38

June 2023 $27,611.38

                $161,131.71

This expenditure is on the Balance Sheet but is nowhere to be found on the Statement of Revenue and Expenses. Line 2330 is not there.

In fact, no expenses for any Line Item lower than 5000 are listed.

The amount paid for SCS Administrative Costs in the first six months of 2023 is $161,131.72. Would a good estimate for the year be $322,264 ($161,132 X 2)?

Add $140,000 for Line Item 6005 for the CAMS' employees in the office.

Add $75,500 for Line Item 6000 for Management Fee's [sic].

$322,264

$  75,500

$140,000

$537,764

And there might be yet another CAMS subsidiary that is being paid by the HOA.

It's looking to me like a total of $537,764 is being paid to CAMS annually for "management". No wonder the Board splits it out into different Line Items.

The amount paid to CAMS and its subsidiaries under the HOA contract should be ONE (1) dollar amount.

Is anyone feeling itchy from the wool cap being pulled over your head?

Note to anyone on the board: If you think I'm wrong, please tell me what is correct. Don't just tell me I'm wrong without explaining what, if anything, is wrong with what I've written here.