Not the Time for Bi-Monthly BOD Meetings

This is the wrong time for the Board of Directors to reduce its meeting frequency. At last week's Board Meeting it was announced that the Board would hold open meetings bi-monthly, with the next meeting being in May.

There is too much going on right now to duck out-of-sight every other month.

What should the Board be addressing in public?

The 2024 Annual Audit was finally received by February 24th, according to the Property Manager's report. The Audit was almost six months late! The first problem is that it hasn't been posted on the HOA's website, where the Members can read it. Did the N.C. CPA give the HOA a clean bill-of-health; i.e., an unqualified audit? 

With Board members only available by email to the office, what will push them to publish it?

The 2025 Annual Audit needs to ordered. Will it cost $7,000 (the 2023 Annual Audit cost $4,000) and be completed by an out-of-state CPA, or will Members insist that a local CPA complete the audit  of the HOA, where it's much easier for him/her to get into the office to look at the books?

How will the Board send out this required report by April 1, 2026?

"...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; ..." [Source: By-Laws, Art. III, §18(g). Page 8]

Financial Operating Statements have not been posted on the HOA's website since August. If a Member or Voting Member asks why not, should the Treasurer have to look that person in the eye and explain why not?

The Board needs to explain why the HOA owns an annuity as an "investment". Since nothing in the Minutes explains that transaction (i.e., purchasing the annuity on the life of a board member with HOA funds ($126,351.61) earmarked for Reserves). What is the Actual Cash Value (surrender value)? The Board must explain that transaction. Should an investigation of that transaction be launched? And a report of the findings released to the Members, published on the HOA's website?

The Board needs to keep the Members (homeowners) informed about changes in the office. Robert Williamson left the HOA office team on Wednesday, the day after the HOA meeting. Should that be explained? Who is in charge now? The HOA pays really good money for professional HOA management services. The 2026 Proposed Budget for Administration is $185,000/year ($15,417/month) for On-Site Management (Line 6005). That pays for an on-site property manager, an assistant, and a maintenance technician. Is the HOA getting full value? What credentials do the employees have? Are they experienced and highly-trained?

I don't know if other people (homeowners and residents) are getting replies to their emails to the office, but I am not. I have asked what the street-parking rules are. No response. I volunteered for the Covenants Committee. No response. I asked the date of the Summit Parkway wall damage (behind 14  Ricemill Ferry Drive) for an information article on my blog. No response. Maybe it's just me they are not responding to. Or maybe nobody is getting responses.

The Neighborhood Committee needs a chairperson and members. This is a critical committee. Unless the Board does something about getting many more legitimate, duly-elected Voting Members, the HOA will be unable to amend the CC&Rs and the By-Laws.

The HOA also will not be able to conduct a legitimate election of directors in November 2026

The Nominating Committee needs a chairperson and members. The chairperson should have been appointed on November 18, 2025.

I'm sure there is more.

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