Sincere appreciation is extended to the Chairman and members of the Big Canoe Audit and Risk Management Committee for any assistance provided in determining a resolution to the 2020 balance discrepancies found in the Master Plan Fund. After resubmitting questions (1) that had been previously asked as far back as February 2021, the Chairman responded by stating that the request had been forwarded to the Board and that “They are opening a ticket to ask the POA and will be addressing your inquiry.” Round and round the questions seem to go. Continue reading “Getting the facts straight about our money . . .”
Category: Capital Funding
In discussion of recent communications . . .
After a studied review of the recent POA Board Eblast regarding Big Canoe’s finances that references communications from several property owners, an explanation provided appears to be directed, at least partially, in response to recent posts on this site. (1) (2) But first, it must be emphasized that an accurate representation of this writer’s research, ideas and observations can always be found on the pages of this blog which is maintained exclusively by this writer without collaboration. Any attempts by leadership to characterize otherwise should be disregarded. Continue reading “In discussion of recent communications . . .”
“Ask the Board” yields no real answers . . .
To be honest, after the June 3rd post noting that the beginning balance in the restricted Capital Reserve Fund as shown on the updated Capital Reserve Study was approximately one million dollars LESS than the balance disclosed on the year end financial statements, it was anticipated that leadership would provide some type of public response or explanation. Continue reading ““Ask the Board” yields no real answers . . .”
Ask the board . . .
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 . . .”
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 . . .”
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 . . .”
A misrepresentation of facts . . .
Little more than one year ago, property owners were presented with a proposed amendment to the covenants that would allow the establishment of a capital contribution fee (CCF). This was done without property owners having any advance opportunity to review the covenant language or question it’s contents. And now, in 2020, with a newly seated board, that injustice has been repeated. Continue reading “A misrepresentation of facts . . .”