HOA Board MUST Tell the Truth

For years the Boards of The Summit's HOA blew smoke at the Members (homeowners) and failed to inform them of the worsening financial condition of the HOA. Too many Treasurers just said, "Everything is in good shape." 

The Day of Reckoning is rapidly approaching.

How can a 2027 Proposed Budget be properly prepared without the 2025 Annual Audit? Has it even been ordered yet? This Audit is due August 31, 2026 (Monday). 

The Budget Sub-Committee and the Finance Committee need the 2025 Annual Audit in order to properly construct a proposed budget for 2027. The Board has never reported that it selected an Auditor. WHY NOT?

One-third of the homeowners are delinquent on their dues. This means that two-thirds of the Members are carrying the deadbeats. For years I had written that there must be something wrong with the HOA's Collection Policy and its implementation. Never (until 8/24/26) has any Board told Members (homeowners) just how bad the financial situation is. And even the current Board failed to inform Members how back the situation is.

What happened to $445,000 in 2025? Who is the CPA for the 2025 Annual Audit? Is a thorough Reserve Study being done? Will there be enough legitimate Voting Members to convene the 2026 Annual Meeting of Voting Members and to elect three Directors?

The Board cannot continue to kick the can down the road. Will the current Board do nothing and just pass the buck to a new Board in November?


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