Open Letter

Open Letter to the Edgewood Community:
The Truth About the Reserve Fund

Dear Neighbors,

My name is Shane Hill, and I have been advocating on behalf of the Edgewood community because I believe every resident here deserves to know the truth about what is happening with the Association and its financial future. Many of you have expressed frustration, confusion, and even fear about rising dues, deferred maintenance, and the lack of transparency from the Board. I share your concerns, and I want to provide some clarity about a major issue: the reserve fund.

The reserve fund is essentially the Association’s savings account. It’s the money set aside to pay for major repairs and replacements to shared property, like roofing, roads, plumbing, fencing, bridges, and drainage systems. Responsible HOAs regularly contribute to their reserves to avoid surprise special assessments and to maintain the property over time.

Unfortunately, this Board has been misleading homeowners about how much money is actually in that account. In 2024, the Board told the community that the Association’s reserves were funded at 55%. But when we obtained the official Reserve Study conducted by a professional firm, it showed the real funding level was closer to just 8%. That is a shortfall of over $450,000 in a small 108-unit community. The Board’s claim wasn’t just a mistake. They deliberately inflated the reserve balance by pretending we would collect thousands of dollars from each homeowner through special assessments—assessments they never disclosed, never proposed, and never actually planned to collect.

Even now, the Board continues to mislead the membership. In the financial disclosures for the fiscal year ending 2025/2026, the Association indicated that projected reserves will be insufficient each year to meet repair and replacement obligations. To fill that gap, the Board told the reserve study firm that a $1,389 budget shortfall per unit would be covered by special assessments. The accounting firm, Browning, was instructed to prepare financial documents under the assumption that these assessments would be collected. However, the Association has not informed its membership that these assessments are necessary or forthcoming. This ongoing lack of disclosure perpetuates the same pattern of mismanagement and continues to obscure the true financial condition of the Association from the very people who fund it.

Why does this matter to you?

• If you’re a homeowner: You rely on accurate financials to vote on budgets, understand your dues, and make decisions about your property. False numbers rob you of the ability to make informed choices.
• If you’re a buyer or seller: Real estate disclosures provided to escrow use the Association’s budget and reserve numbers. Misrepresenting reserve funding means that potential buyers may be tricked into thinking the community is financially sound when it’s not. That could mean lower offers, legal liability, or transactions falling through.
• If you’re a resident: You’re seeing firsthand the consequences of poor management. Roofs are leaking, pavement is crumbling, fences are failing. Projects are delayed year after year. Everyone is paying more in dues, but the money is not being used wisely or transparently.

This isn’t just a financial oversight—it’s systemic mismanagement. Worse, the Board has responded to resident concern with threats and intimidation. When I tried to go door-to-door to talk to neighbors and collect signatures for a recall petition, the Board threatened to call the police. Residents who ask difficult questions about the budget are banned from attending HOA meetings. Instead of welcoming discussion, the Board is actively silencing it.

This Board has suppressed dissent by issuing cease-and-desist letters through legal counsel to those organizing recall efforts or public websites, including www.edgewoodhoa.org. These threats appear to be SLAPP tactics — Strategic Lawsuits Against Public Participation — intended to silence public oversight.

But we are not giving up.

We have filed a formal police report detailing the fraudulent financial disclosures. We are pursuing every available avenue—legal, civic, and political—to expose the truth and protect our community. We have submitted evidence to state and local authorities, and we are working to ensure that future financial statements are honest and accountable.

Most importantly, we are fighting for a future where residents have a voice. Where meetings are open, documents are accurate, and no one is threatened for caring about their home.

If you have questions, want to help, or need more information, please reach out. We are stronger together, and together, we can take back our community from those who have lost sight of their duty to serve us all.

With determination and respect,

Shane Hill
Community Advocate