Precipitous Drop in Reserves

Does anyone remember this day in November 1973? Trust me. "I'm not a crook." 

Has any Member of the HOA been watching the precipitous drop in Reserves in the past 12 months? Has the Board been watching? Has the Finance Committee been watching Has anyone ever heard a motion by the Board to move money out of Reserves?

Where did over $400,000 go in 12 months?

Source: HOA June 2025 Financial Results
Does the Board know?

Does the Finance Committee know?

The Board never authorizes Treasurer to withdraw funds from Reserves. How does it happen?

Are there discussions and decisions in the private, secret, closed, pre-board meetings? Why aren't Minutes of the pre-board meetings published?

The Board approves numerous motions at board meetings every month for $40,-$50,-$60,000 without ever identifying what accounts will pay for them.

The HOA has had a succession of Treasurers in the past five years, many of whom did not have a financial or money background. Nice people (some of them), but ...

  • George Reynolds (January 2016* - April 2021)
  • Paul Hill (May 2021 - April 2022)
  • Vernell Butler (May 2022 - November 2023)
  • Linda Potter (November 2023 - November 2024)
  • LaToya Adams (November 2024 - May 2025)
  • William Hill (July 1, 2025 - present)

Why haven't the forensic internal and external audits been released to Members? They were ordered in mid-May 2024!

Why doesn't the Treasurer ever inform the Board and the Members about the state of finances at monthly meetings. 

Much money is being spent out of Reserves. Virtually nothing is going into Reserves. In 2024 the budgeted contribution to Reserves was NOTHING. In 2025 only $3,000 was to go into Reserves.

Compare that with $163.965 as the budgeted contribution to Reserves in 2020. And smaller amounts in 2021-2022-2023. And not a peep out of the Treasurer or the President. No warning. No words of caution.  


* Source: Summit Scoop, January 2016

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