To be honest, for this writer, 2023 was a disappointing year in Big Canoe. With plunging cash ratios, continued negative cash flow, escalating food and beverage losses, extravagant capital expenditures, more assessment increases and flawed budgets all culminating with a board reaching even further lows by consciously and overtly altering and manipulating official documents in order to advance their agenda, there is no current confidence that 2024 will be any better. Continue reading “Another year in POA land . . .”
Category: Food and Beverage
Just more of the same . . .
Kudos to the Big Canoe POA Board of Directors for finally recognizing the importance of transferring the $474k residual balance of the insurance settlement proceeds (for the Chimneys and realty office freeze damage) to a capital account rather than allowing those dollars to remain commingled with the operating cash account. (1) (2) Continue reading “Just more of the same . . .”
A cautionary tale . . .
Well now. With little more than a month elapsed since the announcement of the Renew Big Canoe results, it seems that the board’s euphoria has already begun to fade into oblivion only to be replaced by cryptic references of gloom and doom. Continue reading “A cautionary tale . . .”
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 . . .”
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 . . .”
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 . . .”
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”