"Honey, We Can't Be Out of Money...,

 ... we still have some checks left."

You've heard that one before; right?

The April 2025 Financial Operating Results were just posted today, along with the Results for March 2025 and February 2025.

Page 2 of the packet is the page of Variances - the line items that are over-budget. It is the longest list I've seen in years of inspecting the financial reports. Keep in mind; I am not a CPA or an accountant.

The first mistake on that page is no Total. But that's good, because few probably would total up the YTD Variances (that's Year-to-Date). No total? no questions. There are variances for 13 Lines, and they total $58,590.94. That's over-budget for the year through April 30, 2025.

Is "extra" money needed to pay these variances? From where will it come? The 2025 Budget was already so tight it wouldn't even squeak! Remember how the HOA failed to raise dues in past years and even ducked in November 2024?

On Page 4 of the April Report it reads, "The Summit Financials are currently operating in good shape and operating under budget by $44,461.20." Really?

Why am I thinking of the last radio transmission from The Titanic just before it hit that iceberg on April 15,  1912?

The explanations given for the variances ought to produce a roomful of bald board members with apoplexy! Here are a few of them:

$2, 949.36 S&S (a CAMS affiliate) "This is over budget due to 2 S&S invoices being paid in the same month." GL-5072

$6,116.00 Federal Income Tax. "This item was not budgeted for in 2025." WHY NOT?

$2,090.00 State Income Tax. "This item was not budgeted for in 2025." WHY NOT?

Why is the HOA paying Federal and State income taxes? It's a non-profit corporation.

$15,560 Irrigation Contract. "This is over budget and will remain over budget due to the 2025 budget is $75,000 and the monthly contract cost is $10,140." $10,140 x 12 = $121,680. Why was the budget $75,000, when the contract was $121,680? Where is that extra $46,680 coming from?

Why is Line 2330, SCS Administrative Costs, $37,347.38? That's a monthly amount. SCS is part of CAMS. Last year that Line was running $21,-27,000/month. In December 2023 I got kicked out of the Finance Committee meeting for asking what those expenses were for? Nobody knew.

If Elon Musk owned this business, he'd fire everyone!

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