Finance Committee Report - Oct. 7, 2025

When the Finance Committee gives a report, what does it mean? Below is the report of Finance Committee chair, William Hill, at the Board Meeting on October 7, 2025. 

This information is from the Minutes of that meeting, which I did not attend. Remember - this was the monthly meeting before the November 18 election, when a new Board (majority) was elected and seated. Danny Trapp was still the President.

If these are all bids to be approved, is the Finance Committee "report" the proper place on the Agenda for them?

Why was there no report on the financial state of the Association? The "report" is only about money to be spent.

ATV Maintenance: $648.90 – Approved 

Column Repair (56 Barony Place): $600 – Approved

Waverly Place Sign: <$100 – Approved

Light Poles (10 units) by C.E.S.: $18,846 – Approved

Fountain Repairs by McCormick Lifestyle: - Front: $28,980 - Entrance: $29,380 - Total: $58,360 –Motion by Tanisha, Approved (Did anyone ask what "Front" means and what "Entrance" means?)

Tree Removal & Replacement by Green Earth (Summit Pkwy): $1,020 –  Approved

Dead Pine Tree Removal (Willow Park): $800 – Approved

Tree Removal & Grinding (Magnolia Park): $1,500 – Approved

Cypress Tree Removal (Summit Pkwy & Food Lion): $2,100 – Approved

Willow Park Lighting (McClerkin Electric): $3,836.93 – Approved

Light Pole Troubleshooting: - Founders Ridge: $220.38 – Approved

Pole #89 on Pkwy: $250 – Approved

Stone Chapel & Founders Ridge: $220.38 – Approved

Electricity Restoration (Pkwy & Hard Scrabble Rd): $6,119.57 – Approved - $9,000 in fees saved

Brick Wall Repair (Business Park & Summit Pkwy): $6,950 – Approved

Association Audit (L. Douglas Johnson CPA): $7,039 – Approved [emphasis added]

Green Earth Tree Work at Hardscrabble Entrance/Exit: $30,738.50 –  Approved

The total, which does not appear in the report, is $139,349.66. Is this money already budgeted, or are these expenses unbudgeted? If unbudgeted, where will the money come from?

The HOA had never posted the 2024 Annual Audit, and I assumed that entry about the Audit was for the completed 2024 Annual Audit. The deadline for the 2024 Annual Audit was August 31, 2025 (PRM, Art. ,  §. That's if you disregard the Art. III, §19(g) of the By-Laws, which provides a date of about May 1st (120 days after the end of the fiscal year (which is December 31)).

I was wrong.

I have learned that $7,039 is the bid from Mr. Johnson to complete the 2024 Annual Audit. It seems to me that the Board owes the Members an explanation about this.

Was the 2024 Annual Audit never ordered?

If it was ordered, from whom, at which price, and by when to be finished?

If it was ordered but not finished, why not?

Why didn't Danny Trapp or William Hill ever inform the Members of the delay?

Is this one of the messes that the new Board inherited?

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