Standard business practices should be strictly adhered to regarding the bidding process, annual operating budget, and capital improvements greater than 5% of the annual budget.

I have attended the board meetings over the last year and have read the minutes of the previous years’ meetings and I repeatedly witness the failure to utilize standard business practices. I want to assist the board in achieving greater compliance with standard business practices.

                                                              EXAMPLE

A bid was obtained by a single director and subsequently approved by the "Board Majority" without any scrutiny or due diligence by our current Treasurer, and candidate for re-election, Jim Kramer, the management company, or the remaining two "Board Majority" directors. The bid consisted merely of a one-page, hand-drawn map of our roads, leading to a contract that cost the association $178,195.13, with an additional contract awarded to the same vendor for approximately $25,000. This process starkly deviates from LCPOA policy and standard acceptable business practices, which require that bids clearly outline the deliverables, timeframe, terms, and conditions, and include properly executed signatures from both the vendor and an authorized representative(s). "Accepting bids that lack critical elements such as clear deliverables, defined timeframes, specified terms and conditions, and properly executed signatures is neither safe nor proper. This failure to adhere to standard business practices not only jeopardizes the integrity of the bidding process but also exposes the association to significant risks, including the potential for fraud and embezzlement."

                                ​​​​​​​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​