asked 6 months ago

I have gone over the financials and feel that due to my findings, there is no financial sustainability in our current financial structure. Things need to change and unless we reduce our operational spend and find new ways of generating revenues, we will certainly go broke. I have calculated the working capital and the current ratio and the metric clearly shows that we barely have enough to pay monthly expenses. This is a basc metric that can be used for non-profits as well as any corporation. What I have found is that most people do not understand finance so they listen and believe what is told by the board and the finance committee. I STAND BY MY ANALYSIS THAT I AM CORRECT. If I am not correct, I would like to see proof as to why they think I am incorrect.
Due to this, I am not paying my HOA dues anymore. I refuse to provide funds to an HOA that cannot be transparent or tell us where our funds go. I will certainly pay my HOA’s if we got verification that our accounting practices are accurate. I would pay HOA’s if we could get 7 years of bank and checks. Not having any transparency clearly indicates cover up. This cover up will continue because no one will stand up to this bully crowd.
At the end of this year, we will have 1,000 in our capital account and our 5 year strategic plan shows millions in cash needed that we do not have. If we do not have cash to cover expenses, the only way to generate the cash is to increase HOA’s. Our home values will continue to decrease and this is inevitable. The current board refuses to open revenue streams, they refuse to act with fiduciary responsibility, they refuse to listen, they back the GM and the Controller to manage our future. We lack operational processes to mitigate risk. I can go on an on with the mismanagement regarding Pipers.
If you want change, stop paying your HOA’s. THis is the only way that the board will open their eyes that we have been lied to and perhaps do something about it.