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 . . .”
Category: 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”
An update on the $25/$16 assessment increase . . .
In the previous post, questions were asked regarding the 8.89% monthly assessment increase. Was the increase a “regular assessment” which covenants allow to be used by the current or any future board for both operational and capital expenses? Or . . . was the increase a “special assessment” which may not be used for operational expenses and which also requires property owner approval? (1) Continue reading “An update on the $25/$16 assessment increase . . .”
Assessments, budgets and more . . .
The December 31st POA member statement along with a two page memorandum from management (1) has just been received leaving this writer somewhat perplexed. Although the $25/$16 increase approved by the board in November to be used for Master Plan capital projects was included on this statement, Continue reading “Assessments, budgets and more . . .”
Save the Postage . . .
The POA board is applauded for quickly acknowledging the significant “drafting error” (1) found in the proposed amendment and ballot package for the $5,000 Capital Contribution Fee that would have deleted the entire Article VI, Section 13 of the covenants dealing with the capital reserve fund and property owner approvals. Continue reading “Save the Postage . . .”
Property owner protections & controls in jeopardy . . .
As additional details regarding the $5,000 Capital Contribution Fee continue to trickle in, the information has dictated continual updates on the subject by this writer. Less than two weeks ago, dissimilarities between the twelve compared communities were noted along with the offering of alternative ideas and solutions to the proposed fee. (See “About that $5,000 fee”)
Several days later it was learned that the POA board had agreed to grant the developer an “exemption” from the Capital Contribution Fee (1) Continue reading “Property owner protections & controls in jeopardy . . .”
An Update to “about that $5,000 fee”
By now many have received the POA president’s letter to the community which was recently e-blasted. (1) The letter briefly discusses the Master Plan and outlines some of the provisions of the $5,000 capital contribution fee which will be included in the ballot package. Notable provisions include the discussion of exemptions such as transfers to family members, etc. , however, one very important exemption that pertains to the developer is not discussed in the letter. Continue reading “An Update to “about that $5,000 fee””
About that $5,000 fee . . .
After an impressive presentation at the recent Town Hall meeting that included photographs of rusted metal pipe and irrigation deficiencies, it is probably obvious to most all that our Creek nine golf course has a problem with those components. (1) Lydell is to be commended for doing an outstanding job of articulating and explaining the issues. Continue reading “About that $5,000 fee . . .”