2024 Management Contract

Do homeowners (Members of the HOA) have the right to inspect the Management Contract that the Board and CAMS agreed to?

Here is what the By-Laws say in Art. VI:

Section 4. Books and Records. (a) Inspection by Members and Mortgagees. The Declaration, By-Laws and Articles of Incorporation, any amendments to the foregoing, the rules and regulations of the Association, the membership register, books of account, and the minutes of meetings of the Members, the Board, and committees shall be made available for inspection and copying by any holder, insurer or guarantor of a first Mortgage on a Unit, Member of the Association, or by the duly appointed representative of the foregoing, at any reasonable time and for a purpose reasonably related to his or her interest in the Unit at the office of the Association or at such other place within the Properties as the Board shall prescribe.

The Management Contract with CAMS is not specifically mentioned, and you can bet your bottom dollar that CAMS and the Board will refuse a Member's request to inspect the contract.

However, it should be available during an inspection of the Minutes of Board meetings. The contract would have been approved by the Board at some point, and a copy of the approved contract ought to be attached to the Minutes as a permanent record.

How much, in total, is the HOA paying CAMS? From the 2023 Budget,

$  75,500 Management Fee's [sic]
$140,000 On-Site Maintenance*
$ ?? CAMS has two subsidiaries that the HOA pays

Recorded under "Other Current Liabilities" in the Balance Sheet every month are payments of $25,000-plus to SCS (Southern Community Services) for Administrative Costs (Line 2330). That amount changes every month (August 2023: $28,261.38), but there doesn't seem to be any corresponding payment on the Statement of Revenues and Expenses. Is an additional $300,000+ going to a CAMS affiliate every year?

What is the second CAMS affiliate? And how much goes to it?

And, speaking of Budget, where is the 2024 Proposed Budget?

* Deceptive accounting entry. Line 6005 is actually On-Site Management (compensation of office employees). It is not On-Site Maintenance. Why does the Board tolerate misleading Association Members?

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