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Treasurer warns of missing records, unpaid taxes and collection push
Summary
Treasurer reported $244,129.42 in total association funds but flagged longstanding record-keeping failures, an estimated $54,694.84 revenue loss from bad contact information, unpaid employee taxes that may trigger $20,000–$24,000 in penalties, and an accounts-receivable collection strategy.
The Treasurer presented a detailed financial summary showing account balances and an investigation into billing and member-record errors that have left the association with missed collections. "The total is $244,129.42," S1 read aloud when listing balances, and the report estimated an association revenue loss of $54,694.84 tied to incorrect mailing addresses and ownership gaps in records.
Board members said the office will pursue overdue accounts above a stated threshold (the meeting recorded a collections threshold of $600) and prepare lien notices where appropriate. The Treasurer and staff also described hiring outside tax/accounting assistance to resolve unpaid employee taxes; the report said the association faces an estimated penalty in the range of $20,000 to $24,000 for missed payroll filings and payments from previous years.
