💰 Pillar 1: Financial Opacity & Mismanagement

A 267% assessment increase with no independent audit, no reserve study, and troubling self-dealing patterns

The Assessment Escalation

Since 2010, CVHOA annual assessments have increased from $24 to $88 — a 267% increase — without a reserve study, without an independent audit, and without detailed accounting of where the increases have gone.

YearAssessmentIncreaseCumulative
2010$24—Baseline
2014$40+67%+67%
2018$60+50%+150%
2021$72+20%+200%
2023$80+11%+233%
2025$88+10%+267%
🚩 Key IssueThe $72 assessment was voted on in what appears to have been an executive session discussion, bypassing the transparency that open-meeting requirements demand.

The Frank Barber Question

Board minutes from July 2015 reference contractor Frank Barber performing water mitigation and timber work. Questions arise about billing and self-dealing when the same contractor is working on common areas and board members' adjacent private properties.

🚩 Self-Dealing PatternMinutes reference Barber performing work on White Falcon Court — where a board member resided — with questions about whether HOA funds were used for improvements that primarily benefited adjacent private properties.

"Can't Spend on Individuals"

When a board member suggested the HOA should "help others" in the community, the response was that the HOA "can't spend on individuals." Yet contractor work benefiting specific board members' properties was approved without the same scrutiny.

No Audit, No Reserve Study

Despite collecting approximately $52,360 annually (595 homes × $88), CVHOA has never conducted an independent financial audit or a reserve study. Homeowners have no way to verify that funds are being spent appropriately. FireWise mitigation alone has cost "tens of thousands" according to minutes, with no detailed accounting available.

✅ What You Can DoRequest all financial records under CRS §38-33.3-317: bank statements, check registers, contractor invoices, and the last 5 years of income/expense reports.