On August 13, 2009, the Florida Dept. of Business & Professional Regulations completed its investigation of the complaints filed against OM Condo Association for failure to provide unit owners with audited copies of the 2006-2008 year end financial reports in a timely manner. Simply stated, OM was found to be in violation of section 718.111(130) and was issued a warning letter pursuant to rule 61B-21.002 FL Adm. Code.
Several months ago on this blog, Donald McLoughlin (whom I do not know personally) urged unit owners to unite and contact the FL Dept. of Business & Professional Regulations regarding the above matter. There certainly were several owners who voiced their continual outrage about not receiving the financials, yet it appears that only two people (according to the state's letter) followed through with a formal complaint. I am one of them, and I assume the other was Mr. McLoughlin.
Before I contacted the state, I gave Don's suggestion a lot of thought . I decided to do what I considered the right thing, even though I realized it might upset some Board members and staff. By law we are entitled to receive yearly financials in a timely manner. I felt that since I abide by the association rules, including paying all maintenance and special assessments on time, that as a unit owner I was (and am) entitled to accountability of where our money is being spent. This is not to imply that there has been any wrong doing on the Board's part pertaining to where the money is being allocated. It is simply the law that unit owners are entitled to receive yearly financials in a timely manner. End of story.
I do, however, feel badly that manager, Rick George is being cited for this violation. He is an employee of the the Board and must act at their pleasure. From my observations I think that Rick is a hard worker and is doing the best job he can with the resources available. It is the responsibility of our elected Board to comply with the state regulations, just as we are expected to follow the association regulations. I urge unit owners to become proactive rather than reactive in solving our differences with the Board and with the commerical owners.
I would think everyone wants to see our investment in OM stay healthy and thrive.
Posted by
Nancy Paton - Unit 302
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Is that all they got is a warring letter?
ReplyDeleteAre the going to use are condo money to pay a fine if there is a fine?
When are we going to get the audited copies for 2006,2007,and2008? when? when? when?
What are they hiding????
Are they going to investagate who paid for the penthouse balconies???
ReplyDeleteThank you very much for this blog and your updated post.
ReplyDeleteThings appear so lopsided at the Ocean Manor that I do not belive nothing will ever change.
A million plus dollars has not been disclosed and a small fine is not the answer. Jail terms would be required.
Do not feel sorry for the CAM.
Can a complaint be filed with the IRS for taxation or is the OM tax exempt?
ReplyDeletehttp://en.wikipedia.org/wiki/Embezzlement
ReplyDelete