Thursday, January 12, 2012

Audit is legally required to be done by Burning Tree Master Association board of directors!

 Do you know:

    * why Burning Tree Master Association (BTMA) is still required legally to have an audit, even if the board of directors waste your assessment money on a review?  (Oklahoma statutes provide that any member may bring action in district court to enforce the provisions of  the bylaws. Note that
BTMA by-laws do call for an audit be done each and every year.)
      * there has never been an amendment to the Burning Tree Master Association (BTMA) by-laws. The only way an amendment can be made to the by-laws it is for 75% of all the members to vote in favor. (Legal documents providing proof of the vote for the amendment along with the copy of the amendment that was presented to the members has never been produced; just a couple of directors saying they seem to think they remember it.) 
     * which Burning Tree Master Association (BTMA) officer is legally required to cause an annual audit to be made, who it is to be made by and how quickly after completion each member is to receive a copy.




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Common Law of Business Balance It's unwise to pay too much, but it's worse to pay too little. When you pay too much, you lose a little money -- that is all. When you pay too little, you sometimes lose everything, because the thing you bought was incapable of doing the thing it was bought to do. The common law of business balance prohibits paying a little and getting a lot -- it can't be done. If you deal with the lowest bidder, it is well to add something for the risk you run, and if you do that you will have enough to pay for something better.                                John Ruskin (1819-1900)

1 comment:

  1. I'd like to see a copy of the P&L statement the treasurer is giving out at each of the meetings. Can someone tell me who has a copy of the latest one? I need to see it.

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