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 . . .”
Category: Capital Funding
Guest Spot: Wayne Huey on the Capital Contribution Fee . . .
Wayne requested that his op-ed regarding the Capital Contribution Fee be posted at bcmatters.org. Thank you Wayne for your thoughts and historical reference. (Patricia) Continue reading “Guest Spot: Wayne Huey on the Capital Contribution Fee . . .”
Guest Spot: Mike Permenter on the Capital Contribution Fee . . .
Mike requested that his op-ed on the Capital Contribution Fee be posted at bcmatters.org. Thank you Mike for your thoughts and ideas. (Patricia) Continue reading “Guest Spot: Mike Permenter on the Capital Contribution Fee . . .”
Time to talk about our Capital Reserve Fund . . .
Given the size and complexity of our beloved Big Canoe and for all the capital dollars spent and long range plans envisioned, it is baffling and disturbing that our community’s restricted capital reserves have been so woefully unfunded. Instead, Continue reading “Time to talk about our Capital Reserve Fund . . .”
Where does our money go? . . .
Now isn’t it remarkable that only weeks after being subjected to an extensive campaign for golf course renovations boasting the message “we already have the money” and culminating in an overwhelming approval for the project, property owners would now be confronted with a proposal for a $2,500 capital contribution fee containing the veiled threat that assessments or debt could be increased if not approved. (1) Seriously? Where did our money go? Have we just been duped? Continue reading “Where does our money go? . . .”
The Metamorphosis continues . . .
In the midst of many important discussions regarding the Creek nine renovation, other issues or changes taking place in this community have been understandably overshadowed. However, recent decisions, particularly as they apply to POA cash balances and governance, warrant our attention. After all, no single segment of Big Canoe can exist in a vacuum. Continue reading “The Metamorphosis continues . . .”
Breaking the rules . . .
The July 23rd unanimous decision by the board (1a) to approve a revision to Board Policy and Procedure 105.2 (2) demonstrates either a lack of familiarity or a complete disregard of our governing documents and current policies and procedures. This policy 105.2 deals with special and reserve assessments, but before delving into the specifics of the update authored by the finance committee chair, one must first look at the obvious. Continue reading “Breaking the rules . . .”
The metamorphosis of our capital funding . . .
Last month’s board meeting was certainly full of surprises. Not only did we learn of the bleak 2020 financial projections, but we were also presented with a completely new approach and purpose for what has now become known as the Board Designated Cash – Capital Fund (Board Fund). Continue reading “The metamorphosis of our capital funding . . .”
2020 and an increasing lack of transparency
Here we are faced with a new year, a new kitchen, new menus and the first financial package of 2020 indicating good news with net income exceeding budget. In fact, remarkably, despite all the constant hype about increasing F&B revenue, one quickly realizes that food and beverage losses were actually less while being closed for most of the month. Analyze that. Continue reading “2020 and an increasing lack of transparency”
Perspectives on 2019 Financial Performance
There doesn’t seem to be time anymore to seek peace and tranquility in the refuge of Big Canoe. We are so overwhelmed with drama and the constant barrage of issues and crises under the watch of the current board. And throughout all of this mayhem, not one single individual has been held accountable. Continue reading “Perspectives on 2019 Financial Performance”