Where Did Funds Come From?

The annual Assessment of the HOA didn't increase until January 1, 2026, and then it went up only $50.00. Why only $50.00? 

The Board could not increase the Assessment more than 10% without approval of the Voting Members. Ten percent of $510.00 ($255.00 x 2) was $51.00. $50.00 was less than 10%. ($50.00 was not enough!)

The question of whether the Voting Members would have approved a larger increase is irrelevant. There weren't, and aren't, enough legitimate Voting Members to do anything!

One current board member said the dues had not increased in 15 years. Everyone knows that costs increased in the past 15 years!

If operating costs increased but dues didn't, where did the funds come from?

I can only guess, but a factual answer is available. The past Board Treasurers should know. The past Board Presidents should know. The past Boards should know. And the current Treasurer, President, and Board should know.

Are "The Three Monkeys" alive and well in The Summit? "Hear no evil. See no evil. Speak no evil."

My guess is that the money that was budgeted for Contributions to Reserves never made it to Reserves. That money was used to fund increasing Operating Expenses. The Boards were duty-bound to direct those contributions to Reserves, and they failed to do so.

Like Charlie Kirk said, "Prove me wrong."

Elsewhere on this blog I have commented on the shocking drop in Cash & Cash Equivalents and the reduction in contribution to Reserves from $163,965 (2020) to $0.00 (2024) and $3,000 in 2025.

The PRM requires that the annual budget be prepared by first accurately estimating the Expenses of the Association. Once you know how much money is needed, then the Budget Sub-Committee of the Finance Committee has to find it  (PRM, Art. III, §C. ¶4(f)). 

It wasn't done that way, because Boards did not want to raise the Assessment. That was a failure of fiduciary responsibility. The current Board must not continue that failure.

This is why the Board must populate the (HOA's) Neighborhood Committee and charge them with fulfilling the Mission as stated on the website.

The clock is ticking. There are only 235 days until the next Board election (Nov. 10, 2026 (if the Board Meeting is not held on Election Day, Nov. 3, 2026)). That is plenty of time to get Neighborhood Meetings held in all 28 communities and to elect Neighborhood Committees and Voting Members.