Where is the 2024 Proposed Budget?

When the Board of Directors held its monthly meeting on November 7th, why wasn't the Proposed Budget for 2024 presented?

Surely, the Finance Committee had completed its work. The Summit's HOA is not operating like the Federal Government, is it? IS IT?

There is supposed to be a Summit Assets Committee - 
("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."), 

That sub-committee has no Chair and no members. The Finance Committee should have been working diligently on the 2024 Proposed Budget. It should have delivered that Budget to the BOD on November 7. Had it done so, the BOD would have had a month to consider it, before approving it on December 5, the next regular BOD meeting. Who are the "members from the general community" who gave input?

Will the HOA have a balanced budget for 2024? How great will the shortfall in income be? Is the HOA planning to spend more than it takes in? If there is a deficit, how will that deficit be met? Should Reserves be tapped to meet a budget deficit? Is it wise (or legal) to use Reserves for operating expenses?

Did anyone at the November 7th meeting hear even any mention of the proposed budget?

Why not?

Because the Agenda for monthly meetings does not ever include any items under New Business or Old Business! Then it's easy to skip over important business items, such as budget and election of officers.

CAMS should be providing expertise to the BOD in business matters. That's what a professional HOA management company gets paid to do. That's why the HOA pays the big bucks to CAMS. 

The Board should hire a business consultant to advise it on the adequacy and quality of services from CAMS, and it should retain an independent accountant to help it correct the problems with the financial statements and its understanding of them.

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