Financial opacity: A lack of financial transparency in Raven Hills

 Article IX - Section 1 of the Raven Hills Homeowners Association Bylaws reads: 

The Association shall appoint an Architectural Control Committee, as provided in the Declaration, and a Nominating Committee, as provided in these By-Laws. In addition, the Board of Directors shall appoint other committees as deemed appropriate in carrying out it's purpose, such as a(n): 

(d)Audit Committee which shall supervise the annual audit of the Association's books and approve the annual budget and statement of expenditures to be presented to the membership at its regular annual meeting, as provided in Article XI, Section 8 (d). The treasurer shall be an ex officio member of the Committee. 

Later, in Article XI - Section 8. Duties: Treasurer 

The treasurer shall... keep proper books of account; cause an annual audit of the Association to be made by a public accountant at the completion of each fiscal year; and shall prepare an annual budget and a statement of income and expenditures to be presented to the membership at its regular annual meeting, and deliver a copy to each of the members. 

Financial records exist going back to 2019 in the Diversified Association Management portal for the Raven Hills Homeowners Association. The only form of accounting seems to be the monthly balance sheets.

No Audit Committee appears to exist or have existed for 2022, 2021, 2020, 2019, or any of the years prior. In fact, when asked about an Audit Committee at the most recent Board meeting (March 2023), Kevin Kinzel responded, "I don't think one has ever existed". 

Annual audits have not been completed for: 2022, 2021, 2020, 2019, or any of the years prior. 

Statements of income and expenditures have not been created or provided for: 2022, 2021, 2020, 2019, or any of the years prior. 

2023 Annual Disclosures were mailed to homeowners in March 2023 and made reference to an annual financial statement and a financial review, which seemingly does not exist. 

Susie Cooper is assigned the title of treasurer as of the last Board meeting. Her title of treasurer is also reflected on 2022 Association meeting minutes. 


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