2023 Annual Report - Two Months Late

Have you received your copy of the 2023 Annual Report yet? I know at least one Member (homeowner) who has not.

Yesterday I was informed by a board member, "While we do our best to follow the By-Laws, we are still a group of volunteers trying to serve our community in the best way possible. Trust me, we are fully aware of issues that need to be addressed and don't need your incessant emails to "educate" us."

Nice, huh? Why are they so close-mouthed about the issues? One issue is the "monumental hurdle to overcome financially" about which HOA President Danny Trapp wrote in the May Summit Scoop.

Yes, volunteers. Yes, "trying". Here what this board of directors needs to learn. They need to learn to direct more and do less. That's why the HOA has a Board of Directors, and not a Board of Volunteers. That's why the Board hires a HOA management firm.

So, to the Annual Report.

Contact the office and request the 2023 Annual Report, which they might call the Annual Audit. In past years it has been delivered to the Board before the end of April, as it should be. Often in June it is officially presented to the Board by the Auditor, an outside CPA. If you don't receive it within 2-3 days, re-contact the office. Call 803.865.0609 or email HOA@summithomeowners.com

In the By-Laws is Art. III Board of Directors, Section C Powers and Duties, ¶19 Management, 

"(g) an annual report consisting of at least the following shall be [emphasis added] distributed to all Members within one hundred twenty (120) days after the close of the fiscal year: (1) a balance sheet; (2) an operating (income) statement; and (3) a statement of changes in financial position for the fiscal year. The annual report referred to above shall be prepared on an audited or reviewed basis, as determined by the Board, by an independent public accountant; ... "

For those who don't know, the Fiscal Year of the HOA is the Calendar Year, ending on December 31. 

Understanding the expense of printing and distributing such a report to 2,480 Members (that's you), the Report could be prepared and placed in an easily-found place on the HOA's website.

An email could be sent to all 2,480 Members; oh, wait, the office only has email addresses for about 1,900 Members (homeowners). A postcard could be sent to the other 580, informing them where they can inspect (and print, if they wish) the 2023 Annual Report.

Instead, there has been not a peep out of the office or the Board about this. The Annual Report (Audit) was not mentioned at the May or June board meetings. There won't be a July meeting, unless it is re-scheduled.

The HOA contracts with CAMS, which advertises on its website that it is "an industry leader in community association management." Its "...team has the experience, knowledge and specific industry expertise needed to provide the highest level of service and trusted guidance ..." Its "... community management team is made up of local experts ..."

CAMS should be reminding the Board of important dates, such as the distribution of the Annual Report. (Maybe it did.)

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