Role of the Treasurer

 Is The Summit's HOA paying the price for the revolving door on the Treasurer's office?

Since November 2023 there hasn't really been a Treasurer's Report at board meetings, and there wasn't much of a report at meetings before that.

In the past two years the Treasurer has just made a bunch of motions to spend money. There hasn't been a "report" of HOW the Association is doing. Are financial matters improving? declining? It's the job of the Treasurer to guide and manage income and expenses of the HOA.

Prior to that, many reports were, to the effect, "everything is in good shape". It wasn't, but that's what Members were told. Attention should have been given to putting the HOA's money to work at higher interest rates than 0.05% or 0.75%, but the then-Treasurer was worried about early termination fees for premature withdrawal of CD funds.

How long do you have to think about moving money from 0.05% to 3% or higher? About five seconds!

As I wrote previously, 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)

Rumor has it that William Hill plans to quit after the election on November 18, possibly paving the way for Danny Trapp, if he is re-elected, to try to appoint Vernell Butler to the Board and then engineer his election by the Board to Treasurer.

* Hill is not the legitimate Treasurer of the HOA. He was improperly appointed in a private, closed, pre-board meeting on July 1st that Danny Trapp called an "executive session" (it wasn't). Then Hill came out of that meeting as Treasurer.

The appointment should have been made in the public board meeting on July 1, with the vote of the Board. Then there should have been an election by the board of Hill as Treasurer (and Weatherbee as Secretary).

The HOA does not have a legitimate Treasurer OR Secretary, as required by State law.

Comments

Post a Comment

Popular posts from this blog

June 3rd BOD Meeting now Closed to Members

The HOA office sent out an email at 3:29PM that read, in part, Due to Brookland Baptist Church being unavailable to accommodate the scheduled Board of Directors meeting on June 3rd, the meeting will now be held at the Summit Association office. Please note that space is limited at this location; therefore, only Voting Members and Committee Chairs will be invited to attend in person. One would think they would splash a message on the homepage of the HOA's website and change the location in the Calendar on the website; but No to both.  This last-minute change is highly adverse to the interests of the Members of the Association. The HOA must have some deal with Brookland Baptist Church Northeast for the rental of the meeting room. The dates must be arranged for the year. The HOA makes a "donation" to the Church for the use of the room. It's actually not a "donation", because the HOA receives something of value in exchange; i.e., the use of the meeting room.  Wh...
Read more

What? No trampolines?

OK, you trampoline fans. Are your rights and privileges being tramped on by your Board of Directors? The office sent out an email just before 2:00PM threatening you with a dreaded violation notice and the possibility of fines, if you dare to put a trampoline in your yard.  This is what the email from the office said,  " Please be advised that, pursuant to Section 13, Page 22, Article XII of the covenants, no structure of a temporary nature shall be placed upon any unit or any part of the properties. This includes, but is not limited to, tents, temporary gazebos, shacks, trailers, and any other structure of a temporary nature.  "Kindly note that trampolines are classified as temporary play equipment and, as such, are not permitted within the community. We ask that you ensure there is no trampoline present on your property to avoid receiving a violation notice and subsequent fines." What do the Covenants say? "Section 13. Tents. Trailers and Temporary Structures. Exce...
Read more

What Story Do the Financials Tell?

At the May 6, 2025 Board of Directors meeting, the March Financial Operating Results were available. Did you pick up a copy? Was there any discussion of them? Usually there is not. Do board members examine them before the meeting? Does anyone on the Board really understand them?  Look at the page for the Operating Expenses - Variances. Twelve Line Items are shown. No totals are shown. Big mistake. But are the totals intentionally omitted? For these 12 Items the total of "YTD Variances" is $61,784.93. As of the end of March, the HOA has over-spent the 2025 Budget by $61,784.93. Look at the reason given for the over-spending in Line Item GL-5111 Irrigation Contract. "This is over budget and will remain over budget due to the 2025 budget is $75,000 and the monthly contracted cost is $10,140." Is this worded to intentionally confuse any reader by stating the annual amount in the budget, but the monthly amount for the contracted cost? If the yearly contract for Irrigat...
Read more