Summit Assets Committee - MIA?

Listed on the HOA's website is this important committee - the Summit Assets Committee. What is it?

Summit Assets

Mission: This Sub-committee, is responsible for establishing a balanced annual budget, and presenting it to The Summit Community Association, Inc. Board of Directors for approval. The budgeting process considers input from all levels and includes members from the general community.

OPEN, Chair

This committee is important enough to be listed on the website, but it is not important enough to have a chairman or any members.

NOTE the final line in the description of its work:

The budgeting process considers input from all levels and includes members from the general community. [emphasis added]

Did you ever hear any mention at a board meeting about a call for participation by Members (homeowners), other than those privileged to be appointment by the HOA president?

Ever see any mention in The Summit Scoop? Ever receive an email from the Association, inviting you to participate?

Why don't any of the other board members ask the president to appoint people to the Summit Assets Committee? Would the president (or the Treasurer) lose some control, if the "general community" got involved?

Several years ago the Proposed Budget was available on the HOA website, so that Members could view it and make suggestions. The last year for that was 2021.

But, when you look at the 2021 Budget item on the website, what you find is the 2020 Budget and the 2021 Proposed Budget. You will not see the 2021 Final Budget. That should have been posted in December 2020.

To see the 2021 Approved Budget, you must look at the "2022 Budget".

And, when you look at the 2022 Budget, under Contracts you see only $75,500 (Line 6000) as Management Fees. One would think that is the only amount paid to CAMS, when the actual CAMS contract is much, much larger. You'll also see $140,000 (Line 6005) for Salaries, but the HOA doesn't have any employees.

In the 2023 Approved Budget you see the Line 6005 is re-named "On-Site Maintenance." It's not "maintenance". It's management! It is the same $140,000 that was Salaries in the prior year.

Some homeowners with finance or accounting experience on the Summit Assets Committee or the Finance Committee would be very helpful.

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