Why Did the BOD Fail to Approve a Good Budget?

The Voting Members of The Summit's HOA should hold the Board of Directors responsible for not meeting its fiduciary responsibility regarding the 2025 Budget. 

What was that responsibility?

To consider and approve a 2025 Budget that would meet the financial requirements of operating the HOA on a solid financial footing. That meant increasing the Annual Assessment by at least 10%.

The problem is the lack of legitimate Voting Members, who represent the homeowners in their neighborhoods. A problem within that problem is that the "acting Voting Members", who are "recognized" even though they are not legitimate, don't hold the Board accountable.

The Board did not even hear the 2025 Proposed Budget in an open Board Meeting. The Members who attend monthly board meetings did not hear the Finance Committee request a 10% dues increase. The public never heard any discussion of the Budget. The Finance Committee apparently did not refuse to slice-and-dice the budget and hack it apart to get to a "balanced" budget.

If the Finance Committee had refused cut down the proposed budget and had refused to remove expenses that it knew the HOA would have anyway, the Board would have been forced to increase dues.

Projects are not included in the 2025 Budget. The contribution for Reserves is pitiful ($3,000). In 2020 $163,965 went into Reserves. In 2024 ZERO was budgeted for Reserves.

Every dollar in Reserves should be accounted for and dedicated to a future project. There is no "extra" money.

This is serious, folks. We're not playing Monopoly™.

Did the two new directors have any idea on what they were voting on November 12? Or did they just go along with the herd? They were elected as new directors less than an hour before the vote on the Budget. When did they study it and compare it to the 2024 Budget and Expenses?

How many of the other five directors knew it was a bad budget/Why did they vote Yes? 

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