I SAY VOTE NO TO RAISE ASSESSMENTS

FOLLOWING IS A WAY TO SOLVE THIS PROBLEM

You will receive a request from the Sweetwater Oaks Board of Directors (BOD) to increase the semiannual assessments. The contention by  the BOD is that we are operating at a deficit. As far as I can ascertain the deficit is $40,000.00 a year. There is a written explanation  that was mailed with your proxy. I will leave it to you to read the letter which I believe does not reveal all available HOA funds. Some are somewhat difficult to find and are listed as reserves. There is also quite a bit of confusing verbal explanation posted on the HOA face book page https://www.facebook.com/groups/swohoa.

There is a reserve that was voted into existence by the BOD of $75,000.00 to mitigate hurricane damage and appears on the HOA web site. The reserve can be found on page 4 Sweetwater Oaks HOA Balance Sheet dated 3/31/2025, account 5021. Please see:  https://www.sweetwateroak.org/home/ click menu,

Go to HOA Info

Click Association Documents

Click Financials

Click 02 Interim Financial Information

Click Interim Financial Statements

Click FY 2025-2026

Click 2025-2026 Interim Financial Statement

Scroll to page number 4 and review accounts 5001-5070

  The reserve was never approved by a vote of the membership as required by Florida State Statute 720.303 (6) BUDGET (d). This reserve needs to be moved back to the general operating budget. I assume this would make the $40,000.00 deficit into a $35,000.00 surplus. In addition reserve 5023-Reserve for Riverbend Park bathrooms and reserve 5070-Reserve for Sweetwater Beach bathrooms were never approved by a vote of the membership. These are a total of $80,000.00. These reserves are not even recommended in the reserve study commissioned by the board of directors. 

This would obviously cover the budgetary short fall that the BOD indicates we are experiencing.

If there is a written explanation for why the board created these reserves without the approval of the membership, I would be happy to review it and place it on this web site as long it is shown to comply with our covenants, state law and federal law.

If anyone can present me with factual evidence that any of the statements contained here are false or incorrect, please submit to this page on the CONTACT page and I will gladly correct any false or incorrect information.

Do not let 70 residents make a decision that will affect you and your family VOTE!

Already sent in your proxy or electronic vote? If you change your mind about how you voted, you can change your vote any time up until a quorum at a meeting is achieved. Send an email to manager@sweetwateroaks.org and allboardmembers@sweetwateroaks.org saying that you are changing your proxy or electronic vote to whatever you decide to vote.

I am not an attorney, nor do I have any special legal training. I would recommend that in any legal matter you seek the advice of a qualified licensed attorney.