Where Did the Cash Go?

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 1/1/25-11/18/25.

No Board votes on withdrawals from Reserves were reported in Board Minutes.

Why did no one alert the Members that Total Assets were declining? The Board Presidents did not. The Treasurers did not. Other board members did not. The Finance Committees did not. The Management Companies did not.

I started recommending a forensic audit of the Association in April 2021, after long-time Treasurer George Reynolds died. A forensic audit covering 5-6 years should be conducted now.

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