Budget Surplus & Bylaws

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  • #370555
    arnie920
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    Does your budget not include reserve contributions?

    #370556
    ginnie34
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    Unfortunately that’s how these hoas work. There’s no real consequence when boards don’t follow the bylaws. Members like you and me really have no other option but to sue.

    #370563
    bsmoker
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    yes, we budgeted for $12420 to go into reserves, which it did. I have the 2021 budget and the year end financials. We have very specific verbiage in our bylaws about surplus’s and how they need to be credited back. I pointed this out, now I am the bad guy

    #370567
    arnie920
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    Well then, as ginnie34 pointed out, you might have no other choice but to take legal action (or scare them that you’re going to) if your board isn’t listening to you. It’s sad but there’s nothing else we can do if our boards don’t follow the bylaws except to sue.

    #370604
    bsmoker
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    Thank you all for the responses. I have typed up a letter with all the documents, financials, budgets, and bylaws. I mailed it to the management company and requested a written response within 15 days.

    This is why I hate HOA’s. The bylaws state I have to pay by the 5th of the month or they would tack on fees… Its ironic how they pick and choose which bylaw they want to enforce.

    PS – I found a funny Defund the HOA yard sign i bought. Cant wait to trigger them HAHAHAH

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