Financial Stability of the HOA

If you are reading this, I know that you are not the problem.

The financial stability of the HOA depends on all property owners paying their dues on-time; i.e., by July 31.

As of April 30, 2025 the Accounts Receivable (Line 1200 in the financial statements) of the HOA totaled $479,433. That is, likely, almost entirely unpaid dues and is $99,694 higher than one year ago.

And a year ago they had just written off approximately $100,000 of bad debt without ever discussing it at an open Board meeting or voting on writing it off.

The Board did not follow the rules in the PRM (Art. III, §C, ¶3 Bad Debt Write-Off Procedures.)

The Allowance for Uncollectible Accounts (Line 1300) is $299,167. This number hasn't changed for 12 months and cannot be accurate.

In six years I haven't heard the Board discuss the bad-debt problem or make any decisions about reducing it. Why haven't they addressed this growing problem?

If you think the Board needs to pay closer attention to the Collection Policy of the HOA and the Collection Activity by CAMS, you might want to let them hear from you.

Let the Board know how you feel about that debt to the HOA. Ask what they intend to do about it, and ask them to report at the next Board meeting.

Then attend the next meeting and be sure they do.

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