What write-offs?

Most homeowners (Members) should know by now of the serious financial situation facing The Summit's HOA. Accounts Receivable (Line 1200 in the financial statements) total $478,500.70, as of May 31, 2025.

This is up by $96,493.03 (25.3%) in 12 months. Line 1200 was $382,007.67, as of  May 31, 2024. And that $382,007.67 was after the Board quietly wrote off $118,917.60 in April 2024.

In the March 2025 Summer Scoop Danny Trapp, President of the Board of Directors, wrote, in part:

"The board is currently working to improve the collection policy requiring the write off [sic] of thousands of dollars due to delinquent accounts each year. These write-offs cost us all as homeowners and the practice needs to be changed."

To what write-offs is Trapp referring?

Does anyone remember any Board ever addressing write-offs in the past 5-6 years? Did they do so in private, closed, pre-board meetings? They certainly did not do it in public, open, monthly, Regular Board Meetings.

The PRM lays out the procedure for addressing write-offs. Why hasn't the Board (Boards for several (even many) years) followed it?

You can read it in the PRM at Art. III, §C, ¶3) Bad Debt Procedures. Page 16.

Why are you hearing about this from me, instead of from the HOA's Treasurer, the President, the Board, or the Finance Committee?

For how many years have I been suggesting that there is something wrong with the HOA's Collection Activity or the Association Collection Policy, or both?

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