Barony Place I/Barony Place II

 At 4:55PM today, the HOA office emailed "information" about Amendment No. 10,  Capital Contribution Assessment. That email was sent out on behalf of The Summit Community Board of Directors. The Directors are Brenda Bryant, Noel Weatherbee, Angelo Turley-Moore, Linda Potter, Jeff Lummel, Tanisha Holmes, and William Hill. Notably, the attachment was titled, " Why Vote YES on Amendment 10? " (Bold and capitalized YES were in the original.) Think: why is this Amendment so important to the Board? Because The Summit's HOA is running out of money. Over the past few years several boards of directors have collected money and budgeted for Reserves. They silently reduced the Reserve Contribuition and spent your money on operations. I have covered that in other articles here. In 2020 the Contribution to Reserves was budgeted at $163,965. In 2024  the Contribution to Reserves was budgeted at $0.00. Did your Annual Assessment ($510/year) go down? No! In 2025  the Contributio...

Where did $784,041.41 go in four years? When the 12/31/2025 Financial Operating Results were finally posted this week, it was possible to calculate the shrinkage in Total Assets over a four-year period. The year-end Total Assets are shown below for five years (2021-2025). The amount in parentheses is the reduction in Total Assets in that one year. $1,872,391.80 - 12/31/2021 $1,837,205.30 - 12/31/2022 (-$35,186.50) $1,596,952.66 - 12/31/2023 (-$240,252.64) $1,535,754.14 - 12/31/2024 (-$61,198.52) $1,087,350.39 - 12/31/2025 (-$448,403.75) $35.186.50+$240,252.64+$61,198.52+$448,403.75= $785,041.41 In four years the Total Assets shrank $785,041.41. Note that they shrank $448,403.75 in just one year, from 12/31/2024 to 12/31/25. The Board must explain this to the Members. The Board had three treasurers in 2025. LaToya Adams (1/1/25 to mid-May), (no Treasurer from mid-May to 7/1/25), William Hill (7/1/25-12/1/25), Linda Potter (12/1/25-12/31/25). Danny Trapp was Board President from 1/1/25-...