Examine the December Financial Results

The December 31, 2024 Financial Operating Results of the HOA should be posted now (or soon) on the HOA's website, so that homeowners will have an opportunity to examine them before the February 4, 2025 board meeting.

This Report and those of previous months can be found on the HOA's website. Hover over RESIDENTS; click on DOCUMENTS. Click on Financial Operating Results.

Pay particular attention to the "Variances", which may be shown on Page 1 or Page 2. Variances are the items in the 2024 Budget that were over-spent. 

If it's like the November 30th Report, no Total will be shown for the Variances. Grab your calculator and add up the numbers in the "YTD Variance" column. Those numbers in parentheses are the over-spent amounts. And "YTD %" is not under-budget; it is OVER-budget! See the "U" at the end of the line? That stands for Unfavorable, as stated in very small print on the page.

Be sure to look at the "reason" for GL-6005!

Has Line 6500 Legal / Professional been added to the list? As of 11/30/24 that Line was over-spent by $9,116.81. The 11-month total of $22,866.41 is even above the budget of $15,000 for the full year of 2024.

Line 6500 in the 12/31/24 Results won't include the legal fees for commencing legal action against Gus Philpott (me) in December. Expect to find that bill paid in January (this month), and see it the total in the 1/31/25 Financial Operating Results (released at the March 4, 2025).

There will be more legal fees for the lawyers' work in January and also for them to appear in court on February 11th. 

Those fees will consume a large part, if not all, of the $20,000 in the 2025 Budget for Line 6500.

If you have an opinion about the legal fees being incurred to try to silence me for writing the truth about what is going on with your HOA, please attend Board meetings and inform the Board of your opinion. 

Email them at hoa@summithomeowners.com, since they don't publish their email addresses or phone numbers. Hopefully, the office will forward your email to one or more of them. Or call the office and leave a message for them to call you back. 


Please forward this to everyone you know in The Summit by using the Share button at the top-right or lower-left of this page.

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