News
July Letter from the Oaks POA Board
Posted on Jul 21st, 2024
7/20/24
Hello Oaks Neighbors:
Last weekend the Board was notified that the owner / operator of our Property Association Management Company, Oklahoma HOA Consulting, inc., unexpectedly passed away. Our primary and immediate concern was to ensure that the balance of our neighborhood bank accounts, which have been managed by Oklahoma HOA Consulting, are completely in-tact and safe. We are pleased to report that this indeed is the case. We are also pleased to report that we are able to approve individual transactions presented at the current bank and continue to meet the financial obligations of the neighborhood without interruption. The bank has been responsive, transparent, and professional in providing us with assurances of protection for our financial assets, as well fulfilling all information requests.
To date we have been unable to contact the OK HOA office. The phone has been disconnected and emails are not answered. This leads us to believe the deceased was the sole owner, without a succession plan.
So, what next. We held a special Board meeting on Thursday, July 18th, to review several important actions needed in light of these circumstances. We discussed and moved to terminate our agreement with OK HOA and hire an accounting firm to file our 2023 tax return. We also discussed next steps for evaluating and deciding upon a new HOA management company. Most importantly, the board moved to transfer all funds to a new bank, as the current financial institution has indicated it best to close our account. The process is underway, and we expect to have the transactions completed next week.
Minutes from the meeting will be posted on our website.
Between PAYHOA (online payment management tool used by Oklahoma HOA) and the bank’s 2024 records we will be able to reconcile our dues paid/not paid information. If you have not paid your 2024 POA dues, do not pay yet. We will contact you individually with a request to pay our POA association directly.
Until a new management company is hired, the Board will manage all duties previously performed by Oklahoma HOA Consulting.
We will have more to report on in the days and weeks to come. This site will be our means of informing you. Please direct any urgent questions regarding this matter to any member of our Board. We thank you for your understanding and patience. Please stay tuned.
The Oaks @ Indian Springs, Board of Directors
Hello Oaks Neighbors:
Last weekend the Board was notified that the owner / operator of our Property Association Management Company, Oklahoma HOA Consulting, inc., unexpectedly passed away. Our primary and immediate concern was to ensure that the balance of our neighborhood bank accounts, which have been managed by Oklahoma HOA Consulting, are completely in-tact and safe. We are pleased to report that this indeed is the case. We are also pleased to report that we are able to approve individual transactions presented at the current bank and continue to meet the financial obligations of the neighborhood without interruption. The bank has been responsive, transparent, and professional in providing us with assurances of protection for our financial assets, as well fulfilling all information requests.
To date we have been unable to contact the OK HOA office. The phone has been disconnected and emails are not answered. This leads us to believe the deceased was the sole owner, without a succession plan.
So, what next. We held a special Board meeting on Thursday, July 18th, to review several important actions needed in light of these circumstances. We discussed and moved to terminate our agreement with OK HOA and hire an accounting firm to file our 2023 tax return. We also discussed next steps for evaluating and deciding upon a new HOA management company. Most importantly, the board moved to transfer all funds to a new bank, as the current financial institution has indicated it best to close our account. The process is underway, and we expect to have the transactions completed next week.
Minutes from the meeting will be posted on our website.
Between PAYHOA (online payment management tool used by Oklahoma HOA) and the bank’s 2024 records we will be able to reconcile our dues paid/not paid information. If you have not paid your 2024 POA dues, do not pay yet. We will contact you individually with a request to pay our POA association directly.
Until a new management company is hired, the Board will manage all duties previously performed by Oklahoma HOA Consulting.
We will have more to report on in the days and weeks to come. This site will be our means of informing you. Please direct any urgent questions regarding this matter to any member of our Board. We thank you for your understanding and patience. Please stay tuned.
The Oaks @ Indian Springs, Board of Directors