This update is devoted solely to the audit of the New Member Fee refunds and of the financial statements of our HOA. The checks for the refunds are on target to be issued by the end of this month, if not in the days following. The overall audit of the financial results of our HOA, however, are delayed, and I want to explain why.

As those members in attendance during the November 4 Board meeting will recognize, the Board took some time in Executive Session to review items of a sensitive nature to ensure decisions could be made and action taken, specifically with regard to the refunding of the New Member Fees. The audit process has been thorough to ensure accuracy, but was also met with delays as a result of obtaining documentation from the former management company and title companies involved in closings, and to reconcile which closings were inaccurately recorded to the incorrect Association (Vista).

In addition, the Board addressed what has been recognized as a potential conflict of the Association’s auditor performing both reconciliation efforts and a regular annual audit of the financial statements for the calendar year 2023. As a result of the disengagement with the Association auditor for the 2023 audit, and the remaining reconciliation work to be done, I have recommended (and the Board is considering) to have the 2023 audit incorporated into the 2024 audit. At the time that the Board is transitioned completely from Toll Brothers to homeowners, we will have an audit done to address this transition, encompassing all financial statements to date.

-Bill Cirkus