Category: Financial

Seriously lacking initiative . . .

With the renovation of our signature golf course on the radar for some time, the day has finally arrived for property owners to cast our votes on September 8th for or against the proposed project.

While we have been struggling with pandemic restrictions and other issues, a group of eight property owners, assisted by three staff members, has been working since May developing a proposal or educational campaign  known as the Creek 9 Initiative.  (1)  It’s fancy.  It’s glitzy. Continue reading “Seriously lacking initiative . . .”

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 . . .”

Back to the numbers . . .

As things in Big Canoe slowly begin to settle down into the new normal after months of negotiations culminating in the official execution of the Bobby Jones Links agreement, it is important to remember how we presumably got here. The board’s rationale has always been that a change was needed due in part to the 2019 losses in food and beverage. Continue reading “Back to the numbers . . .”

Hubbard Road revisited . . .

Neglecting to include key components of a transaction fully demonstrates a lack of transparency.

With a barrage of new details and information trickling in regarding the sale of the 5.25 acres on Hubbard Road, even more concerns have become immediately apparent.  Research of 2007 recordings and transfer tax documents led to the mistaken conclusion that the property was purchased by the POA in 2007 for $50k. Continue reading “Hubbard Road revisited . . .”

Hubbard Road Real Estate Transaction . . .

It has been naively assumed that while leadership was dealing with the ongoing negotiations with Bobby Jones Links, the remainder of their resources and energies were being directed at addressing the challenges and effects of covid19 in our community. Instead, unfortunately, and much to the disappointment of this writer, we find it is business as usual as much business of the POA continues to be done in secret. Continue reading “Hubbard Road Real Estate Transaction . . .”

Looking back at First Quarter 2020 . . .

Wow . . . the first quarter of 2020 has already come and gone in Big Canoe complete with elections, sweeping changes to management via BJL, a pandemic and year to date net income from operations of $250k. But before delving into any financial observations, the cursory mention of a few governance details might be in order.  Continue reading “Looking back at First Quarter 2020 . . .”

Suggested avenues of exploration . . .

Sincere congratulations are extended to our three newly elected board members coupled with hopefulness that with this new leadership, property owners will begin to find the honesty, openness and transparency so desperately needed in our community. Continue reading “Suggested avenues of exploration . . .”

The deception, the questions and the reality . . .

Chaos in our community as a result of the continued missteps by leadership has culminated in what may become a complete redefinition of the character of Big Canoe as our board has chosen to outsource the entire POA operations to Bobby Jones Links (BJL).  Our employees will become employees of BJL. (1)  This decision was made by a board with some members seated well beyond their elected term Continue reading “The deception, the questions and the reality . . .”

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”