Prepare to be amazed as you witness leadership’s scrambling to cover their tracks after being called out for disregarding the governing documents of the Association. (1) Too many more examples of this level of contempt for the rule of law might ultimately result in a precedent declaring the entire governing structure of Big Canoe moot and unenforceable. In fact, keep this defense in mind for the next time you receive one of those foolish AECD citations. Continue reading “Whitewashed: Part one . . .”
Category: Capital Funding
Onstage again . . .
It’s certainly good to know that someone in leadership or management reads/follows this blog. Several days after the previous post referencing the Director of Public Safety’s letter to businesses and vendors seeking enforcement assistance regarding the usage of outdoor rodent bait stations, (1) someone actually took the time to replace the outdated Rules and Regulations (May 2023) posted to the POA website with the current rules that went into effect January 1st.
Budgetgate . . .
Before discussing the manipulation of the 2026 budget, this writer would like to first extend sincere kudos to the clubhouse chef and his team for “delivering” an impressive $19k profit to the October F&B operations. And with this improvement, the year to date loss has now been trimmed to $550k. (1) Not only is this good news, but it clearly demonstrates that a minimum of break even results can be achieved with vigilant management and oversight. Continue reading “Budgetgate . . .”
Unraveling the spin . . .
Wow. Talk about influence. The election hasn’t even taken place, yet the General Manager has already adopted the narrative taken from one candidate and Finance Committee member (1) by referring to the $13k September Food & Beverage (“F&B”) loss as a subsidy while proclaiming it cost each property owner only $4.40 or less than a cup of Starbucks coffee. (2) https://www.youtube.com/watch?v=UImvGmEPcjY at 15:30. What an innovative twist and what a dog and pony show. Continue reading “Unraveling the spin . . .”
Still more of the same: Part Two . . .
This is certainly proving to be both a different and embarrassing election cycle that has not been reflective of one of Big Canoe’s finer moments. Enough said about that. We all know that story.
As for now, of the four remaining candidates vying for a directorship, two currently sit on the Finance Committee. If elected, they will join two other Finance Committee alumni (POA Vice-President and POA Treasurer) on the board. Continue reading “Still more of the same: Part Two . . .”
Still more of the same . . .
For those who may have missed it, the General Manager’s latest excuse for providing less financial information at the monthly open board meetings is his proud declaration, “we just don’t want to bore you too much”. (1) https://www.youtube.com/watch?v=TWBKZ51RTjw at 16:10 Seriously, our well compensated GM just said that. Continue reading “Still more of the same . . .”
Fairy tales: An update . . .
A lot has happened in the weeks following the last post on this site. Changes include seven new trademark applications, requests for FEMA/Hurricane Helene funding and an uninformed board scrambling to clean up recent disregards of our governing documents. Continue reading “Fairy tales: An update . . .”
Fairy tales . . .
Perpetuating the illusion to themselves and the world that we, the property owners, voted in approval of the $8 million expenditure, (1) the Big Canoe POA Board of Directors held the August 28th board meeting in the newly renovated clubhouse that included custom made light fixtures, commissioned artwork and a horseshoe shaped bar designed with the Indianapolis Colts logo in mind. (2) Continue reading “Fairy tales . . .”
Lines in the sand . . .
As has become the norm, there’s a lot going on in Big Canoe to include the ongoing primary election, planned opening of the renovated clubhouse, undisclosed food and beverage losses along with other governance and financial loose ends. The subject matter is all over the board, and for that reason, this post will once again discuss a myriad of topics. Continue reading “Lines in the sand . . .”
A time of reckoning . . .
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.