Mid-Year Assessment Payment Due 7/1/2025

Many homes in The Summit received the semi-annual Assessment notice last Saturday.

Whether or not you receive your notice, your $255.00 payment is due July 1, 2025. Payments received after July 31, 2025 will incur late-payment fees, and other bad things will happen if payment continues to be unpaid.

I've been going to HOA meetings since 2018, and I have never heard even one report of how many homeowners are delinquent in their dues.

As of March 31, 2025 Accounts Receivable (Line 1200) total $493,615.85.

In April 2024 the Board of Directors quietly wrote off approximately $118,917.82 ($498,657.27 - $379,739.45) without a vote and without notation in the Minutes.

The Allowance for Uncollectible Accounts (Line 1300) is $299,167.13, but that number is not accurate. Line 1300 has been the same since April 30, 2024. The Finance Committee and the Board of Directors should have been all over CAMS,  as soon as they saw that number was not changing.

Whose decision was it to write off 23.8% of Accounts Receivable (AR) without informing the Voting Members or the Members (homeowners). Danny Trapp was President at that time.

After the write-off in April 2024, the Accounts Receivable totaled $379,739.45. One year later, March 31, 2025, the ARs were $493,615.85. ARs increased $113,876.40 (30%).

If you owned this corporation, would you be making some personnel changes???

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