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 . . .”
Category: Capital Funding
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.
Back to the numbers again . . .
With a lengthy May 29th board meeting that was informative at times and misleading at others along with the recently posted April financial package, there is much to talk about. Perhaps it’s time to put the trademark discussions on the back burner for a moment and refocus attention to other financial matters. Continue reading “Back to the numbers again . . .”
The charade . . .
It appears we have been told a lie.
According to the FAQs found on the Renew Big Canoe website soliciting property owner approval for the clubhouse renovation, (1) no additional work was needed for the clubhouse kitchen as it had been recently renovated and was functioning in an efficient manner. Continue reading “The charade . . .”
The untouchables . . .
It seems that our elected board has managed to escape a self inflicted crisis unscathed and without consequence and with the continuing power to create new dramas some other day. This is Big Canoe. Continue reading “The untouchables . . .”
And for now . . .
As we anxiously await an announcement from the board that the trademark agreement with Big Canoe Brokerage has been executed, complacency can easily set in when in actuality nothing else has really changed. Continue reading “And for now . . .”
Spent into oblivion . . .
In the last formal action of the year, this Board publicly approved the 2025 operating and capital budgets that they previously approved privately in late October. (1) And certainly at first glance, one might breathe a sigh of relief to learn that the assessment increase will total only nineteen dollars, but rest not easy. This is only a mirage. Continue reading “Spent into oblivion . . .”