Asset Evaluation Committee - Why ignored?

There is a Standing Committee of the HOA that is currently being ignored by the Board of Directors (BOD). It is the Asset Evaluation Committee. Why is it being ignored?

The Procedures Reference Manual describes the Asset Evaluation Committee at Article II, §B, ¶11).

"11) Asset Evaluation Committee: Is responsible for establishing and maintaining an inventory of all commonly owned components for which a reserve should be maintained. It will provide an estimate of the remaining useful life and current replacement cost of each item, as well as an analysis of the current funding status of the Reserves and will recommend a funding plan for future annual contributions in the Reserve fund. The analysis is to cover all common site improvements including entrance roads, parking areas, sidewalks only at the pool areas, curb and gutter, fencing, entrance feature, site building, ponds/lakes, walking trails, and other site amenities. This committee will be responsible for maintaining the Summit Replacement Reserve Plan."

Recently, I came across a large lot, owned by the HOA since 2009, that should probably have a house on it and be generating $510/year for the HOA. This lot (Richland County Parcel R23108-09-11) has a physical address of 486 Indigo Ridge Drive and appears to be equal in size to two residential  lots.

In County records on the Internet Mapping website are correct, that parcel has Taxable, Market, and Land Values of $600. The acreage of the parcel is not listed; my guess is it is larger than ½-acre.

Recently I wrote about the 2024 Budget and the lack of any funds in that Budget going into Reserves; also, about how amounts for Reserves had dropped in the previous three years.

The HOA developed significant reserves during some past years, and they are important for future financial stability.

Will the Finance Committee and the BOD restore the Asset Evaluation Committee?

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