Edgewood HOA 2025/2026 Financial Disclosures

⚠️ Key Findings from Edgewood HOA Financial Disclosures

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1. Disclaimed Accuracy of Financial Statements

The accountant (Browning Reserve Group) clearly states:

“The information in this report is based on representations provided by the Board of Directors of the Edgewood Townhomes HOA.”

• The financial projections rely entirely on Board-supplied data.
• The accountant did not verify the data independently.
• Statements may not reflect actual or enforceable assessments or obligations.

⚠️ This disclaimer means that if the Board misrepresents funding or assessment plans, the entire financial report will be misleading.

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2. Special Assessments Were Assumed—But Never Disclosed or Collected

• Reports assume special assessments will be collected from each homeowner.
• Example: a $1,389 per unit shortfall is shown in the documents, covered on paper by assumed assessments.
• These assessments are not being collected or disclosed, artificially inflating the reserve balance.

This isn’t an isolated incident — past financials show the same pattern:

• In 2024, a ~$1,470 special assessment was “planned” but never collected or communicated to residents.
• In 2023–2024, a $4,167 per-unit shortfall appeared in financial disclosures but was similarly never assessed or resolved.

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3. No Accurate Reserve Funding

2025/2026 reserve fund projections continue to show annual shortfalls, “solved” on paper by fake or unapproved assessments.

• Actual reserve funding remains critically low, with a multi-year shortfall gap.
• The reports create the illusion of solvency, with no supporting real-world collections.

⚠️ This misleading practice affects buyer due diligence, lender risk, homeowner confidence, and escrow disclosures.

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⚠️ Summary

• Report is not verified by the accountant; relies on Board assumptions.
• Special assessments are falsely included, inflating reserve health.
• Same deceptive pattern in 2023–2024 with a $4,167 shortfall left unresolved.
• These practices are systemic, recurring, and materially misleading.

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Shane Hill

The Edgewood Community of Residents

We are not endorsed by any HOA board.

community@edgewoodhoa.org | (279) 252-8072 | www.birdcageheights.com