After more than nine months of requesting and waiting for publication of the covenant required updated reserve study, it has just been unceremoniously posted to the POA website. Upon opening, it is immediately observed that the beginning balance in the restricted Capital Reserve Fund on January 1st, 2021 is shown to be approximately one million dollars LESS than the balance disclosed on the year end financial statements. (1) Further, it is clearly noted on page 13 of the study that this information was provided to the reserve specialists by “Association management”. (2) Continue reading “Ask the board . . .”
Author: patricia
More big red flags . . .
Let’s get straight to the point. We have a problem. It has now been discovered that total cash at the beginning of the year is $18,923 less than originally stated. Without any mention or explanation from leadership . . . poof . . . it is gone. Seriously, where did it go? Was it lost? Was it spent? Was it taken? Continue reading “More big red flags . . .”
So much to talk about . . .
It has certainly been a busy month in Big Canoe. From the unfortunate draining of Lake Disharoon to changes in the board meeting schedules and the March financial results, there is much to talk about both good and not so good. Continue reading “So much to talk about . . .”
Simply not possible . . .
After over three inches of rain within two days in late March combined with a fully opened lower level outlet, Lake Disharoon dumped muddy water, (1) silt and dead fish (2) into the creek below as it flowed into Sconti and beyond. Although estimated to take two to three weeks, the complete draining of Disharoon was accomplished in only a matter of days despite the extreme rainfall. Continue reading “Simply not possible . . .”
A bit more dam talk . . .
With a month elapsed since the Lake Petit Dam Town Hall meeting, it is past time for this writer to express appreciation to the Geosyntec engineer/representative for his presentation regarding the status of our dam. (1) It was not only refreshing but also reassuring to at last hear from an outside source and expert on the subject. Continue reading “A bit more dam talk . . .”
Revisiting that balancing act . . .
This is now third in the series of articles regarding the Board Designated Master Plan Fund and the still unanswered question, “Where did that $265k go?” (1) (2) With receipt of additional information along with other recent developments, yet another update seems to be appropriate. Continue reading “Revisiting that balancing act . . .”
An update to a balancing act . . .
It seems only fair to mention that after publication of “A balancing act”, (1) a member of the POA management team reached out to this writer in an attempt to explain some of the issues that had been noted in that article. The POA President, Treasurer and GM were also included in the loop as they were copied in the original correspondence. Continue reading “An update to a balancing act . . .”
A balancing act . . .
Kudos appear to be in order for management exceeding the original 2020 budget by $174k all the while in the midst of the covid pandemic. (1a) That is indeed good news. Likewise, many thanks are extended to the GM for his reconsideration of this writer’s previously denied request for an itemized listing of 2020 capital expenditures along with an itemization of capital components included on the 2021 capital budget. Continue reading “A balancing act . . .”
About that Dam . . .
Fourteen days into the new year, and we now learn that we have a $3 – $4 million dam problem. As discussed at the January board work session, Geosyntec has completed their study regarding the condition of the Lake Petit Dam and provided management with a report of their findings. (1) The GM indicated that the required repairs to the dam in the next four years would be in the $3-$4 million range, and that the contents of the report had been reviewed earlier in the week with the board, Geosyntec and certain members of the staff and Audit and Risk Committee. Continue reading “About that Dam . . .”
Reality Check 2020 . . .
It has been a long, unusual and challenging year in Big Canoe for sure. And honestly, most anyone can find comfort in any news spun with optimism in difficult times, but healthy doses of truth and reality can not be cast aside if we ever hope to establish that path to honestly addressing the issues facing our community. Continue reading “Reality Check 2020 . . .”