Monthly Financial Statements - who understands them?

Has anyone noticed that the Treasurer never gives a report on the financial status of the HOA at monthly board meetings? At least, a previous Treasurer used to say every month that the HOA was in great shape financially (whether it was or not).

When it's time for the Finance Committee to report, she presents a series of Motions for spending money.

Why isn't a report given on the state of the finances? Why hasn't anyone explained Danny's comment in the May 2024 Summit Scoop - "We have a monument hurdle to overcome financially"?

On Page 1 of the financial summary for the second most-recent month (at the September meeting, the financial report for 7/31/2024 was distributed) the Variances to the 2024 Budget are listed. They are presented in a way that might mislead many of the homeowners.

For example, in the category of Electricity/Lighting Repair (GL-5010) the Year-to-Date (YTD) Variance is ($5,251.01). Many might understand the number in parentheses to mean "Under"-budget or less than the budgeted amount. However, ($5,251.01) actually means that the HOA has spent $5,251.01 (82%) more than it planned to by that month-end date.

The Irrigation Contract is $27,230 (62%) over-budget for the year (so far). I find the legend (explanation) to be misleading because it offers the annual budget ($75,000) but the monthly contract cost ($10,140), which is $121,680 annually. How is that "extra" expenditure ($46,680) to be paid?

The On-Site Staff (GL-6005) is running way ahead of the budget. Why? This should have been established last November-December. As of 7/31/2024 this Line Item is over-budget by $13,620.75. An explanation such as, "The board is aware as to the reason this [sic] over-budget and it will remain over budget the remainder of the year." To me, this sounds like Kamala Harris word-salad. What, exactly, is the reason?

Why did Janitorial Services (GL-6265) jump from $5,000 for the year to $18,600. This is another example of disguising the increase by labeling it annual for the Budget but monthly (instead of annual) for the actual amount. The monthly maintenance charge is $1,550. 

What in the world are they getting for $1,550 for maid service in the office???

Why are homeowners demanding answers?

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