A letter, sent to the board, and shared with The Wedgefield Examiner, is provided below. As always, the resident's name has been removed.
WPA Office <wedgeassoc.com@frontier.com>
Subject: 2015 Financial statement errors
Priority: Normal Date: Wednesday, April 22, 2015 5:33
Kathy, please make copies of this email and distribute to each Board member and the WPA correspondence file.
I have been reviewing the 2015 Financial statements for Account 41210: Current Assessment Late Fees, and I find that there are errors.
In the January statement, the published monthly value is $20.00, and the published YTD value is $20.00 - We charge no late fees for payments in this month.
In the February statement, the published monthly value is $200.00, and the published YTD value is $480.00 - We charge no late fees for payments in this month.
In the March statement, the published monthly value is $880.00, and the published YTD value is $1,160.00.
Certainly, an error in the YTD values for January and February will change the published YTD value for March.
But the March monthly value of $880.00 appears inconsistent with the published value of $17,725.00, (Account 40050: Current Year Assessments)
(880/20 = 44 lots/units) and 17,725.00/500 = 35.45 lots/units)
Please confirm the findings in this email, and supply me with an explanation if my findings are incorrect.
