Announcements
Important Notice: Financial Concerns Identified
After reviewing the provided financial reports, we have identified possible spending violations pursuant to the 2019 Resolution regarding the spending of homeowners dues. The Investigation Tool has been used to review available financial information and identify these concerns. It is critically important to obtain the missing years of financial reports so we can review them and determine if there are any other anomalous spending that should be investigated, which would violate the spending Resolution. Requests for missing financial reports and clarification of non-conforming line items have not been fulfilled.
🚨 CONCERN: $160,000 Expenditure Identified
Background:
Concerns about HOA finances have existed for some time, but action was prompted after three consecutive years of homeowner dues increases. These increases were justified as necessary to build reserves for future major projects, including sidewalk and street maintenance, and pool repairs.
The Issue:
Despite these purported reserve-building increases, the fiscal year 2024 financial statements show a line item of $160,000 for "Grounds Improvements". However, the 2019 Resolution regarding the spending of homeowners dues was passed that explicitly prohibits any expenditures exceeding $25,000 without a homeowner vote.
The Concern:
No homeowner vote appears to have taken place for this $160,000 expenditure. This expenditure appears to violate the 2019 Resolution. The Investigation Tool is being used to gather all available information to determine if there are any other anomalous spending that should be investigated, which would violate the spending Resolution. It is critically important to obtain the missing years of financial reports so we can review them and determine if there are any other violations.
📄 The 2019 Resolution document has been uploaded to the document library and is available here. This is an example of the type of information being gathered through the Investigation Tool to help identify potential issues.