RVSCA Annual Financial Comparison

See below for a comparison of Income Statements from 2011 to Sep 2015 for our community.  Per HOAMCO, we received an “unqualified” audit this year and last, but that does not mean either audit was perfect.  In 2014, a former board member discovered errors in the audit and contacted the audit firm to schedule a meeting to discuss the errors.  The meeting was cancelled by the Board.  A new audit firm was hired after the former firm declined to audit our financials this year.  In the same time period, resignations, re-appointments, and a changing of the guard occurred.  In 2015, after a County investigation into unlicensed businesses, it was discovered that no Gross Receipts Taxes were paid on Advertising Revenue in the RoundUp newsletter since 2008, which could lead to fines and penalties.  A resident asked about this issue at a Board meeting this year, but did not receive a satisfactory answer.

It is HOAMCO’s responsibility to track financials, produce reports, guide the Board, and ensure transparency – especially when we have had no Treasurer since July 2014.  Make sure you ask about the financials at the Annual Meeting – and make sure you get your proxies to the Community Manager before 5PM Monday or your votes may not be counted at the Annual Meeting.  Last year’s photo of the Community Manager altering proxy votes was pretty embarrassing for the Board – don’t expect more transparency this year.  Last year, they cheated to win.  Let’s hope we won’t have to endure another “rah-rah” speech from the Association Attorney and the HOAMCO CEO again this year.  What did Einstein say about the definition of insanity?  Keep voting for the same people, folks ….

Click HERE to download a copy

FC 2015 Pg 1

FC 2015 Pg 2

 

Advertisements

Comments are closed.