It’s truly hard to believe the turn of events in the past 6 weeks at Poudre Overlook HOA:
- The Board holds invalid election on 3/19 to block open seat
- The only recruit is a homeowner getting 10% of HOA revenue in “verbal agreement” for “consulting”
- Board overcomes obvious Conflict of Interest with unanimous vote to the bless “verbal agreement”
- Board lies about prior quotes for bookkeeping services at $340/mo, and approves $500/mo outlay
- Board refuses to consider at least 4 new quotes found in 2024 for $320-360/mo
- Board then simultaneously approves increase to $800/mo without any Board vote!
To people outside of Poudre Overlook, this sounds like impossible fiction. Extremely hard to believe such actions are contemplated, let alone acted upon. Yet, here we are.
Of course, part of this is due to inference. So, for full transparency, the information comes from the Monthly Financial Reports, which were just posted on 4/26/24.
An email has been sent to the POHOA Board to request comment, and to confirm that the $800 billed for “accounting services” is the new monthly amount. We see this amount in both February and March, so it appears that the amount paid to Ms. Hutchinson was increased prior to the vote on 4/9/24.
There still has been no response to the document request for copies of Ms. Hutchinson’s invoices, to verify what is being billed for these amounts.
Since Ms. Hutchinson would be receiving $9600 annually at $800/mo, it is certainly reasonable to ask why we are not considering bookkeepers who can do the work for less than half this amount. And, since there are at least 4 vendors who can do so, it’s not like we are just taking a lowball offer. It appears to be the market price, and the POHOA Board has offered no explanation or response to questions about why these estimates are not reasonable.
