And here we are again in late February with no year end financial reports posted to the POA website. Without that information, as the stakeholders of a $51 million corporation, we have no fourth quarter itemization of the association’s capital expenditures and few details of the overall year end performance. In fact, details found in the GM’s constantly changing and creative slides are so sketchy, that the financial performance for the month of December was not even included in his January board meeting presentation. Continue reading “Just keeping up with the facts . . .”
Category: Capital Funding
Keeping with the facts . . .
With our 50th anniversary year now behind us, it would be fair to say that 2022 was a year of change with property owners seeing escalating and often extravagant capital expenditures, dwindling property owner rights, OSHA investigations, new Association debt, Lake Petit dam concerns and sewer expansion issues . . . the list seemed to go on and on making it impossible at times to just keep current. Continue reading “Keeping with the facts . . .”
Self-inflicted Chaos updated . . .
One would think that while presenting details of the 2023 budget to the community for the third time, the GM could have gotten it right and at least attempted to refrain from spouting untruthful information to the property owners. But alas, during the December annual meeting, the GM continued to erroneously insist that the association’s debt service is included in the $4.2 million net income before depreciation. (1) Again, as stated in a previous post, it is not there. (2) https://bcmatters.org/self-inflicted-chaos/ Continue reading “Self-inflicted Chaos updated . . .”
Self-inflicted Chaos . . .
There’s been a lot going on in Big Canoe recently to include the unveiling of the 2023 budget revealing leadership’s plans for the coming year coupled with the $20 per month assessment increase (with $5 of the increase allocated to the Master Plan Fund). Unfortunately, rather than presenting the community with a concisely constructed financial plan, the GM’s budget presentation has become a media blitz of power point slides and pie charts containing often misleading, manipulated and incomplete information. Continue reading “Self-inflicted Chaos . . .”
A look behind the numbers . . .
For that feel good, warm and fuzzy, disney like experience, property owners should look no further than the August POA board meeting. With a “trust me” attitude ever absent any full disclosure of facts or information, leadership continues to boast their perceived accomplishments, all without ever acknowledging the property owners who finance every Association endeavor, good or bad, via dues and assessments. Continue reading “A look behind the numbers . . .”
With red flags waving . . .
Quite an extravaganza, the August board meeting was filled with leadership’s self-applause and vague references to purported misinformation imagined to be swirling about the community. In fact, it seems that leadership sometimes goes to extraordinary lengths to ensure that the property owners “believe” that all is financially wonderful in Big Canoe. Unfortunately, all is never exactly as it may appear. Continue reading “With red flags waving . . .”
The domino effect . . .
An unfolding of events all began with a recent unusual Friday morning e-blast announcing “POA Board of Directors to Vote on Financing New Fire Engine”. (1) What a misleading choice of words, as the Association already owned the fire engine delivered in late June after paying cash in advance to have the fire engine built eighteen plus months before. Instead, the fire truck just happened to be yet another item of collateral pledged on a loan for the purpose of generating additional cash which will be deposited in the “Capital Replacement Fund”. Continue reading “The domino effect . . .”
An update to True Colors: The Taunt . . .
A property owner and member of the Responsive Governance Group recently made good use of the “three minute allotment” granted to property owners during the Q&A session of regularly scheduled board meetings. Stepping forward during the July 28th meeting, the board was questioned about it’s decision to disregard a petition signed by 194 property owners (and still counting) asking the board to place an amendment to the covenants on the November ballot for a community vote regarding the property owner approval requirements of certain capital expenditures. (1) Continue reading “An update to True Colors: The Taunt . . .”
True Colors . . .
For those who may not have heard, a small group of concerned property owners including this writer (“the group”) was formed for the initial purpose of soliciting signatures on a petition asking the board to give the property owners an opportunity to vote on a proposed amendment to the covenants regarding capital expenditures exceeding $1 million and the associated member approval requirements. (1) petition Continue reading “True Colors . . .”
Guest Spot: Michelle Toups with more Chimneys talk . . .
A Big Canoe property owner for 23 years, Michelle has requested that her op-ed on the Board approved $1.25 million Chimneys project be posted on bcmatters.org. Thank you Michelle for providing additional insight and knowledge on this very important issue. (Patricia)
Continue reading “Guest Spot: Michelle Toups with more Chimneys talk . . .”