Source of Funds For That $139,349?

In the Minutes of the October 7, 2025 Board Meeting are approved expenditures totaling $139,349.66. See the Finance Committee Report in those Minutes.

Every month the Board approves requests for spending, and no one ever asks where the money is coming from. Some of the spending is for Operations; other spending is for or on capital projects. But no one asks; no one tells.

Also, every month the Minutes do not show the total for all the spending approved.

A popular quote is, "We can't be out of money. We still have some checks left." Was this the financial policy of the previous Board of Directors (before the November 18, 2025 election)?

Reserves have been dwindling fast, because of insufficient contributions to Reserves that should have been in the Budgets. In 2024 ZERO was budgeted for Reserves. In 2025 only $3,000 was budgeted for Reserves.

The Proposed 2026 Budget, to be voted on tonight, shows $91,081 for Reserves. (In 2020 the budgeted contribution to Reserves was $163,965.) But it will take a hawk's eyesight to be sure that money actually reaches Reserves and does not get side-tracked for Operating Funds.

The $50.00 increase in Annual Assessment, effective January 1, 2026, is far insufficient to service the financial needs of The Summit. The new Board will address that.

I anticipate that the "new" Board (the majority of four) will stop shielding the Members from bad news. I expect they will be honest with the Members about the cost of operating and maintaining The Summit.

Otherwise, The Summit might as well be renamed The Titanic.

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