Meet the new HOA Board of Boca Rio Townhomes, well actually it's the same old Board.
After much fanfare and promises of change a few months back after appointing a new Board President and a new Property Management Company, nothing has changed. In fact, things may be getting worse for the members of Boca Rio Townhomes. The personnel changes were only for show, the "new" Board President, Thomas Russell had actually been on the board for some time and was simply appointed to the role of President. The new management company appears to be a clone of the old one.
Here though is where things seem to be headed off a cliff. The HOA Board of Boca Rio Townhomes cannot produce an audited financial statement within the allotted time specified in the Association By-laws. When asked at the board meeting if the board had produced a financial statement for the fiscal year ending on December 2023, our new property manager, Lee Willocks from Starfire Management told those present at the meeting that no, there was no statement. When asked when the financial statements would be made available, she replied "we're working on that" but was unable to give a firm date, she also mentioned something about the financials needing to be fixed before giving them over for an audit. Although the treasurer of the HOA, Marina Baghramyan was in attendance, she offered no explanation for the delay. It is her responsibility to oversee the finances on an ongoing basis so that a proper audit can be performed within the allotted time frame (90 days). Clearly, she has failed to perform her only duty. She has one job, keep proper books.
While you as an association member are responsible to pay your dues on time every month to the tune of $280.00, the HOA Board tasked with the responsibility of managing that money is currently derelict in their duties. The Board had 90 days to produce an audited financial statement. To date they have not even provided the information necessary to complete an audit. It's time for the HOA Board to show us the money or resign.
Red Flags at Boca Rio Townhomes