Where Are the Audits?

Why hasn't the 2024 Annual Audit been delivered to the Board yet and released to the Members?

According to Art. III, §C, ¶2 of the PRM, the audit is to be completed by August 31st.

However, according to the By-Laws (Art. III, Section 19 Accounts and Reports (g)), the audit should have been sent to Members by May 1st.

"(g) an annual report consisting of at least the following shall be distributed to all Members within one hundred twenty (120) days after the close of the fiscal year: (1) a balance sheet; (2) an operating (income) statement; and (3) a statement of changes in financial position for the fiscal year. The annual report referred to above shall be prepared on an audited or reviewed basis, as determined by the Board, by an independent public accountant; ..." [emphasis added]"

The fiscal year of the HOA closes on December 31st.

Which has higher authority - the By-Laws or the PRM? Answer: the By-Laws! The Board should know this!

Why haven't the 2023 Forensic Internal Audit and the 2023 Forensic External Audit been released to the Members? Those were authorized by the Board on June 18, 2024.

Letticia Craps (accountant, not CPA) was retained for $4,800 to conduct a 2023 forensic internal audit.

Becca Brendle, CPA, was retained for $3,500 to conduct a 2023 forensic external audit. Brendle is the same accounting professional who conducts the Annual Audit for the HOA.

Has either completed and delivered the forensic audit to the HOA? If so, when, and why hasn't it been acknowledged and made available to the Members? Where will it be posted?

Shouldn't these three audits be listed in Old Business on the Board Meeting agenda every month?

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