Special Assessment in CAMS-managed Summer Pines HOA


Be glad ... and be warned!

Be glad you don't live in the CAMS-managed Summer Pines HOA. The office for the Summer Pines HOA is at 1200-1236 Marthan Rd, Blythewood, SC 29016.

Be warned of the Summer Pines HOA Board's tactic of hitting residents' checking accounts for an emergency $100 Special Assessment on October 1, 2023.

Summer Pines HOA is managed by CAMS - the same CAMS that manages the Summit's HOA.

How did the finances in the Summer Pines HOA get so bad? How did the Summer Pines Board of Directors come up with the idea to process an additional check for the $100 Special Assessment through homeowners' checking accounts? Is $100 just a band-aid?

Was it the Board's idea and they asked CAMS if it would make the special deduction? Or did CAMS suggest to the Summer Pines Board that a special check could just be run through?

It seems to me that it is a very unusual and "iffy" arrangement that could backfire on CAMS and on the Summer Pines HOA. Many people worry about the IRS' ability to reach right into your checking account and grab money that it "says" you owe. But a HOA?

Every homeowner in Summer Pines should immediately cancel his automatic bank draft for his dues. 

Why is this important to Members of The Summit Community Association, Inc. (your HOA here in The Summit)?

With $2,000,000 in banks, the Summit's HOA probably won't be declaring a financial emergency, even with Accounts Receives standing at $570,056.02 (7/31/2023). But it could. How would you react, if you received a message that CAMS was about to snatch money from your checking account?

I say "probably". But the Board is considering a 10% hike in the $510/year dues, even though the HOA's annual budget is $1,454,050. 

When you delivered your dues check to the CAMS office or mailed it to their Arizona check-processing center, was any record kept of the Routing Number and Checking Account Number on your check? Could there be anything, anywhere, in the fine print that could allow the HOA or CAMS to using that banking information to suck money out of your checking account? I suggest you ask, and ask in writing. Ask Justin Martin. Ask Vernell Butler. Ask CAMS.

There should be no "extra" money in the financial statements. Every dollar should be allocated and planned. 

The average monthly budget is $121,170, but the HOA maintains $875,421 in Operating Cash accounts. No accountant or CPA would ever tolerate that. 

And there is $1,010,287 in cash in Reserve Accounts.  What does the documentation look like for those funds? Is it just one big, deep pool of money? Or are specific amounts designated for specific projects?

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