Why is the Board Withholding the 2024 Annual Audit?

According to the Property Manager's (PM) report distributed at the March 3, 2026 Board of Directors Meeting, the 2024 Annual Audit had been received. The PM's report was dated February 24, 2026. This meant that the PM (Robert Williamson) had the 2024 Annual Audit by February 24th!

Once received, it should have been promptly posted on the HOA's website.

The Auditor reviews the HOA's financial reporting and makes a determination on the accuracy and the completeness of the year's financial reporting. He reports any errors, omissions, and corrective steps needed. The Auditor has the final word.

The 2024 Annual Audit was conducted by L. Douglas Johnson, CPA. A CPA by that name is found through a Google search in Greensboro, North Carolina. The Minutes of the October 7, 2025 Board Meeting (Danny Trapp was still Board President at that time) contain an approved Motion for $7,039. Upon first  reading, I thought that was a payment approved for a completed Audit. I was wrong. It was an approved Motion for Mr. Johnson to begin the Audit for a fee of $7,039 The Board has never explained why this Audit was approved so late in the year. An Annual Audit is due by August 31 of the following year. The 2024 Annual Audit hadn't even been started! (Unless it was started earlier in the year by a different Auditor and never finished.)

Mr. Johnson's "word" should be reported to the Members. If the Board doesn't like the Annual Audit, it can say so. But it must release the Annual Audit as delivered. Was it a "clean" Audit, or was it a "qualified" Audit?

On March 3, 2026 the Board Treasurer should have reported receipt of the 2024 Annual Audit. The Auditor should have been at the Board Meeting to present the Audit and answer questions. And there should have been a Motion to pay $7,039 to Mr. Johnson. The Audit should not just have been left buried in the PM's report, where most Members will never see it mentioned.

And now, two weeks later, the 2024 Annual Audit still has not been published on the HOA's website. Will Members have to wait until May 5, 2026 to ask the Board about it?

If you want to see the Audit, make a written request to the office. A Member's right to see it is found in the By-Laws, Art. VI, Section 4(a).

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