Who Forgot This?

Or didn't know it? Or knew it and hoped no one else did?

In the Procedures Reference Manual (PRM) are some guidelines that were developed to keep the HOA running smoothly.

One of them is found at the bottom of Page 12. 

"An unbalanced budget is not allowed, [sic] Income must equal Expenses." [Emphasis added.]

Perhaps it should have be stated differently: "Expenses shall not exceed income."

But the Finance Committee and the Board of Directors should be able to understand it as written. 

So, why did the Board approve a 2024 Budget with a $27,000 deficit? And that was after contributions to Reserves were removed!

There are ways to balance a budget. Increase collections. Lower expenses. Any other ideas?

But the Board took the easy way out. "Oh, just ignore that guideline."

And what about the PRM Art. III, C, (4)i:  "Minutes of all Budget meetings are recorded and published." Are they? I guess not, because there isn't even a "Budget Committee".

At the beginning of the year I complained about the unbalanced budget. No one listened. I said it would get worse. 

In the May 2024 Summit Scoop the HOA President wrote: "We have a monumental hurdle to overcome financially." He has never explained his statement. No one asked him at the June 18 BOD meeting. There was no BOD meeting in July. Will someone ask at the August 13 BOD meeting?

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