Former treasurer for a POA on Hilton Head accused of stealing nearly $200,000
The former treasurer of a Hilton Head Island POA is accused of withdrawing nearly $200,000 from the association’s funds and they “were used pay personal expenses” according to a letter from association president Vince Murphy to homeowners obtained by the Island Packet and Beaufort Gazette.
The June 30 letter to members of the Broad Pointe Owner’s Association detailed how their former treasurer, Patricia Butville, withdrew $196,924.50 from the association’s reserve account between December 2018 and April 2023, when it was discovered.
“Patricia prepared and circulated misleading financial reports which were presented to the Board and then by the Board to the Owners,” the letter says.
The reserve fund is used for large projects like repairs, self-insurance and as a reserved funds for natural disasters.
According to the June 30 letter, Butville had paid back $150,500 of the missing funds, but still owes the association $46,324.50. The association says they are confident they will receive the rest of the funds because Butville signed a Confession of Judgment, which means she accepts liability for the remaining funds.
When all the funds are returned, the association estimates they will have a balance in their reserve account around $185,000, which would be their “strongest financial position to date,” the letter says.
A new treasurer has since been appointed and new checks and balances for the reserve account have been implemented. The new treasurer, Craig Thornton, declined to comment.
Association president, Vince Murphy, also declined to comment.
This story was originally published July 20, 2023 at 12:46 PM.
