On June 26th, a representative and partner of the accounting firm, Mauldin & Jenkins, declared the Association books to be “clean and in good order”. (1a)
This audit opinion was made possible only after the required write-off of $1,544,897 in capital assets (associated with the Clubhouse and Choctaw renovations) resulting in a similar reduction to 2024 income and property owner equity. For example, management’s restated financial results (2) now reflect a net loss from operations of ($761,185) versus the $730k positive result originally reported.