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 . . .”
Category: Governance
A bridge too far . . .
In an act akin to pulling out the shred machine, the 96 page report titled “Big Canoe Community Overview 2023” dated October 8th, 2023 that was laboriously prepared by the seven member Long Range Planning Committee (“LRPC”) has now been removed from the POA website and replaced with an altered, edited and manipulated version all at the direction of the current POA President. Continue reading “A bridge too far . . .”
Save the Chimneys . . .
A collaboration by: Wayne A. Huey and Patricia Cross
Again wasting no time since the community vote approving the construction of a new postal facility ($2.76 million) and clubhouse renovation ($6.35 million), the Board of Directors has immediately moved forward with the remaining capital projects under the umbrella of Renew Big Canoe that they themselves have deemed allowable without a property owner vote. Continue reading “Save the Chimneys . . .”
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 . . .”
Unfinished business . . .
Returning home after a month in Europe, it is apparent that this writer has quite a lot of catching up to do with the Renew Big Canoe initiative already in full swing and scheduled for the “fast track” delivery of ballots in mid to late July. But for now, after only alluding to discrepancies found in the capital fund accounts, it seems important and appropriate to finally provide the community with the details surrounding this writer’s requests for certain accounting records and the subsequent interactions with the board of directors and POA corporate counsel, Kim Gaddis. After all, it’s your money. Continue reading “Unfinished business . . .”
The basics . . .
Only in Big Canoe could monthly financial results reflecting a $46k net operating loss be considered acceptable without explanation or discussion. (1a) Further, and with all due respect, it appears that our monthly board meetings have become little more than scripted dog and pony shows designed to impress and mislead while full of conflicting details and an abundance of incorrect and/or missing financial information. Given that, along with the constant trickle of other emerging news, it is difficult to know where to even begin. Continue reading “The basics . . .”
Self-inflicted Chaos updated . . .
One would think that while presenting details of the 2023 budget to the community for the third time, the GM could have gotten it right and at least attempted to refrain from spouting untruthful information to the property owners. But alas, during the December annual meeting, the GM continued to erroneously insist that the association’s debt service is included in the $4.2 million net income before depreciation. (1) Again, as stated in a previous post, it is not there. (2) https://bcmatters.org/self-inflicted-chaos/ Continue reading “Self-inflicted Chaos updated . . .”
Self-inflicted Chaos . . .
There’s been a lot going on in Big Canoe recently to include the unveiling of the 2023 budget revealing leadership’s plans for the coming year coupled with the $20 per month assessment increase (with $5 of the increase allocated to the Master Plan Fund). Unfortunately, rather than presenting the community with a concisely constructed financial plan, the GM’s budget presentation has become a media blitz of power point slides and pie charts containing often misleading, manipulated and incomplete information. Continue reading “Self-inflicted Chaos . . .”
Two sets of rules . . .
In what seems to have become an end of the year norm, leadership is appealing to the property owners to vote affirmatively for yet another “board contrived” change to our governing documents, i. e., the Leasing Administration Fee (1) And as has been the case in recent years, (2) (3) (4) property owners have not been provided access to the actual language contained in the amendment until only days before the ballots are scheduled to be placed in the mail. This continuing practice gives limited opportunity for discussion, revision or opposition. Continue reading “Two sets of rules . . .”
Let’s not give away the ranch . . .
Horse trading. That is the term used by one director to characterize the water and sewer mediation proceedings with Utilities, Inc. during his board update of those ongoing negotiations. (1) To be honest, while recognizing that the mediation process demands confidentiality, the use of that terminology, elicited a sense of uneasiness regarding the possible outcome of those private discussions. Continue reading “Let’s not give away the ranch . . .”